Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) has announced a drilling update at the Halo zone of its Quesnelle Gold Quartz Mine Property, located approximately 4 kilometers east of Hixon, British Columbia. The company completed two additional surface diamond drill holes from the same drill pad situated at 531388mE, 5922785mN (UTM Nad83), a few meters south of the QGQ25-28 collar.
Drill hole QGQ26-31 was drilled to a depth of about 109 meters (356 feet) with an orientation of 270°/-53° to target the western contact of the Halo zone. The contact was successfully located at approximately 79 meters (258 feet) depth. A second hole, QGQ26-32, oriented 270°/-45°, was collared a few meters west of QGQ26-31. This hole was cased beyond the contact and drilled to a depth of about 103 meters (337 feet). Core logging is currently in progress for both holes.
Additionally, hole QGQ26-29 continues to be hand split, with about two days remaining, and samples are being shipped regularly to MSALAB in Prince George for analysis. Updates on assay results will be provided as they become available.
The Quesnelle Gold Quartz Mine property is situated along a favorable geological corridor adjacent to the Spanish and Eureka thrust faults, covering a 94,899 hectare (234,501 acre) area. The property borders Osisko Development and is partly intertwined with the north end of the Cariboo Gold Project. 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.
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 (75 miles) towards the southeast along the same geological trend. The Spanish Mountain deposit 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.
This drilling update is significant as it advances the exploration of the Halo zone, potentially expanding the known mineralization at the property. The successful location of the western contact in QGQ26-31 provides valuable geological information that could guide future drilling. For the mining industry, the continued exploration in this historically productive region underscores the potential for new discoveries in established gold districts. Investors and stakeholders will be watching for assay results from the ongoing analysis.
For more details, visit the company's website at www.goldencariboo.com.
