Golden Cariboo Resources Ltd. (CSE:GCC, OTC:GCCFF, WKN:A402CQ, FSE:3TZ) has announced the completion of five diamond drill holes, including hole QGQ26-34, targeting high priority structural features immediately adjacent to the established Halo zone. The company has completed drill holes QGQ26-30 through QGQ26-34, with core logging and sampling in progress. MSALabs of Prince George is conducting assays on an ongoing basis.
Notably, drill hole QGQ26-30, which tests the western contact of the Halo zone, will be included in Golden Cariboo's upcoming Mineral Resource Estimate (MRE). Ongoing property-wide data validation provided the opportunity to add this drill hole, expanding the study to encompass up to 9 historical drill holes alongside the company's first 30 surface diamond drill holes.
President and CEO Frank Callaghan stated, “Integrating hole QGQ26-30 into our upcoming maiden Mineral Resource Estimate is a pivotal addition that directly enhances the scale and confidence of our geological model. Property wide data validation allowed us to expand the MRE dataset to thirty of our surface diamond drill holes alongside historical data, while our latest drilling campaign successfully stepped out to test structural contacts and the corridor toward the Main zone. With assays actively progressing at MSALabs, we continue to define the true footprint of this system while maintaining cost-effective, year-round drilling.”
The technical information in this news release has been reviewed and approved by Gordon Gibson, an independent consultant commissioned by the company. Gordon Gibson is a Professional Geoscientist (P.Geo.) registered with the Association of Professional Engineers and Geoscientists of the Province of BC (“APEGBC”) and licensed by Engineers and Geoscientists BC, and is a “Qualified Person” with respect to NI 43-101.
Golden Cariboo Resources Ltd. is rediscovering the Cariboo Gold Rush by proceeding with highly targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine property, which is bordered by Osisko Development, partly intertwined with them at the north end of the Cariboo Gold Project, and located along a favourable corridor adjacent to the Spanish and Eureka thrust faults over a 94,899 hectare (234,501 acre) area. Historically, over 101 placer gold creeks on the 90-kilometer (56 mile) trend, from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine property, have recorded production with successful placer mining continuing to this day.
Golden Cariboo’s Quesnelle Gold Quartz Mine property is 4 kilometers (2.5 miles) northeast of, and road accessible from, Hixon in central British Columbia. The property includes the Quesnelle Quartz gold-silver deposit, which was discovered in 1865 and developed over a footprint of about 150m x 150m (< 6 acres) at the Main zone straddling Hixon Creek. Overall, the geological setting of the gold mineralization at the company’s Quesnelle Gold Quartz Mine property shows strong similarities with the Spanish Mountain gold deposit, situated 120 km (75 miles) towards the southeast along the same geological trend. As a sediment-hosted vein (SHV) deposit, the Spanish Mountain deposit is considered to belong to the epizonal orogenic subclass of gold deposits, which include some of the world’s largest deposits such as Muruntau, Uzbekistan and Bendigo, Australia.
For further information, visit the company's website at www.goldencariboo.com.
