Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) has announced the completion of five diamond drill holes at the Halo zone on its Quesnelle Gold Quartz Mine property in central British Columbia. The drilling targeted high priority structural features immediately adjacent to the established Halo zone, with holes QGQ26-30 through QGQ26-34 now complete. Core logging and sampling are in progress, with assays being conducted by MSALabs of Prince George on an ongoing basis.
Notably, drill hole QGQ26-30, which tests the western contact of the Halo zone, has been included in the Company's upcoming maiden Mineral Resource Estimate (MRE). Ongoing property-wide data validation provided the opportunity to add this drill hole, expanding the MRE database to encompass up to 9 historical drill holes alongside the Company's first 30 surface diamond drill holes. This expansion directly enhances the scale and confidence of the geological model.
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 is a Qualified Person under NI 43-101.
Golden Cariboo Resources Ltd. is focused on rediscovering the Cariboo Gold Rush through highly targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine property. The property is bordered by Osisko Development and located along a favourable corridor adjacent to the Spanish and Eureka thrust faults, covering 94,899 hectares (234,501 acres). 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. The Quesnelle Gold Quartz Mine property is 4 kilometers (2.5 miles) northeast of Hixon in central British Columbia and includes the Quesnelle Quartz gold-silver deposit discovered in 1865, developed over a footprint of about 150m x 150m at the Main zone. The geological setting shows strong similarities with the Spanish Mountain gold deposit, located 120 km southeast along the same geological trend, which is considered an epizonal orogenic subclass of gold deposit.
