Osisko Gold Group Announces Milestones for Planned Quebec Mine Osisko Gold Group revealed key progress and financial metrics for its upcoming mining operation in Quebec, projecting robust gold output and strong returns, while outlining job creation and construction plans leading to first gold pour in 2029. The Osisko Gold Group announced several key milestones for its upcoming mining operation in Quebec, Canada, following a recent name change from Osisko Development Corp. The company's flagship project, located near the Red Lake region, will employ a traditional underground scheme that uses mechanised longhole open stoping to mine gold-bearing quartz veins embedded within sandstone. Osisko Gold Production Projections And Feasibility StudyFive mineralised zones stretching 4,400 metres of strike will be accessed via the existing Cow entrance and a newly constructed Valley portal. In April 2025, Osisko released an optimised feasibility study that projects average annual gold production of roughly 190,000 ounces over the full ten‑year life of the mine, and a higher output of 202,000 ounces during the first five years. The peak throughput is expected to reach 4,900 tonnes per day.All ore beneficiation processes are slated to take place at the mine site, producing marketable gold doré from a gravity‑concentrated product and around 66 tonnes per day of high‑grade flotation concentrate with an average grade of about 133 grams per tonne. The study also identifies opportunities to improve economics and extend the mine life by infill drilling of adjacent mineral resources.The project promises significant local employment benefits, forecasting up to 613 direct positions during peak construction and 525 permanent roles during operation. In September 2026, Osisko released a financial update that calculated an after‑tax net present value of C$2.323 billion at a 5% discount rate, with an internal rate of return of 34.7% and a payback period of just 2.2 years from commercial production.Osisko Mining Project Financials And Capital CostsThese numbers were derived using a long‑term gold price of US$3,570 per ounce and a conversion rate of C$1.38 per US$1. To date, cumulative costs have reached around C$355 million, including indirect and owner's expenditures. The remaining capital required for construction is estimated at C$907 million, net of incurred costs, lease payments, and pre‑production revenue.On September 14, 2026, Osisko announced it had reached its final investment decision, setting the first gold pour for the first quarter of 2029 and the start of commercial production in the second half of that year. Progress updates indicate the project is approximately 28% complete on a cost‑incurred basis as of September 30, 2026. Detailed engineering activities are about 42% finished, and more than half of procurement packages have been awarded, with roughly C$360 million already committed.Osisko Underground Development Progress And Engineering MilestonesUnderground development has advanced to roughly 3.4 kilometres, and earthworks at the Valley portal are 85% finished. The team anticipates completing access and ventilation portals by the end of 2026. The original year‑end development target of 500 metres per month was reduced to 360 metres due to excavation conditions, noise‑control requirements, and concrete‑curing timelines.Partners on the venture include BBA Engineering for the feasibility study, JDS Energy & Mining for project and construction management, Caterpillar for heavy equipment, MacLean Engineering for support vehicles, and Epiroc for drilling rigs and jumbo packages. These stakeholders are working closely to ensure the project remains on schedule while meeting safety and environmental standards. The announcement underscores Osisko's commitment to responsibly developing high‑grade gold resources while delivering economic benefits to the local community.The company's plans align with broader trends in Canadian mining, where companies are increasingly focusing on transparency, community engagement, and advanced technologies to optimize extraction and processing. Osisko's next steps will involve finalising permits, completing procurement, and initiating the remaining construction phases, with an eye on achieving first gold production by early 2029. The company remains optimistic that the project will set a new benchmark for gold mining efficiency and profitability in the region.