Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) has announced the signing of a purchase contract for a 5.36-acre freehold property in Hixon, British Columbia, to serve as a camp location supporting the advancement of its nearby Quesnelle Gold Quartz Mine Property. The property, with direct access to Highway 97, was acquired for $300,000 CAD with a $50,000 non-refundable deposit paid and the remaining $250,000 due by October 30, 2026. The deposit allows immediate possession, enabling the company to set up an Atco 5 Unit Skid-Mounted Mobile Camp at the site.
The acquisition is strategically important as it provides a base for ongoing exploration activities at the Quesnelle Gold Quartz Mine property, which is located 4 kilometers northeast of Hixon in central British Columbia. The property borders Osisko Development and is partly intertwined with the Cariboo Gold Project, situated along a favorable corridor adjacent to the Spanish and Eureka thrust faults over a 94,899-hectare area. Historically, over 101 placer gold creeks on the 90-kilometer trend from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine property have recorded production, with successful placer mining continuing today.
In addition to the camp property acquisition, the company provided an update on its drilling program. Hole QGQ26-30 was completed to a depth of approximately 402 meters (1,319 feet) at an orientation of 270 degrees / -54 degrees, targeting the western contact of the Halo zone from the same pad as QGQ26-29. The hole ended in favorably altered volcanics approximately 235 meters (771 feet) horizontal distance west of its collar, and core logging is currently in progress. Furthermore, hole QGQ26-31 commenced drilling this week about 70 meters (230 feet) north of QGQ26-30, also targeting the western contact of the Halo Zone. Further updates will be provided as available.
The Quesnelle Gold Quartz Mine property includes the Quesnelle Quartz gold-silver deposit, discovered in 1865 and developed over a footprint of about 150 meters by 150 meters (less than 6 acres) at the Main zone straddling Hixon Creek. The geological setting of the gold mineralization shows strong similarities with the Spanish Mountain gold deposit, located 120 kilometers southeast along the same geological trend. Spanish Mountain is considered a sediment-hosted vein (SHV) deposit belonging to the epizonal orogenic subclass of gold deposits, which includes some of the world's largest deposits such as Muruntau in Uzbekistan and Bendigo in Australia.
Golden Cariboo Resources is focused on rediscovering the Cariboo Gold Rush through highly targeted drilling and trenching programs. The company's efforts are concentrated on the Quesnelle Gold Quartz Mine property, which has a rich historical context and significant potential for further discoveries. The acquisition of the camp property and the ongoing drilling program underscore the company's commitment to advancing this promising project.
Investors and stakeholders can find more information on the company's website at www.goldencariboo.com and follow updates on social media platforms including Instagram, Facebook, X (Twitter), and LinkedIn.
