New, Aggressive Drilling Program Underway

With the first expansion drilling of the Halo Zone gold discovery, Golden Cariboo Resources Ltd. (CSE:GCC; OTC:GCCFF; FSE:3TZ) has achieved another spectacular drilling success and demonstrated continuous gold mineralization over a section of more than 450 meters! This included two substantial, high-grade mineralization intervals.

As reported by CEO Frank Callaghan, drill hole QGQ24-17 on the Quesnelle Quartz Gold Mine (QGQ) property intercepted 452.51 meters of gold mineralization averaging 0.30 g/t gold, starting from just 10.97 meters depth. This remarkably long mineralized section also includes two higher-grade zones – one grading 1.01 g/t gold over a width of 27.32 meters and another grading 1.00 g/t Gold over 51.26 meters!

Gold Discovery Already Significantly Expanded

With this, Golden Cariboo has extended the Halo Zone discovery 241 meters northward with the very first expansion drilling – towards the claim boundary with land controlled by Osisko Development!

QGQ24-17 was the first in a series of northward-oriented drill holes with which the company aims to test the northwest-trending mineralization zone and northeast-trending veins that contain the gold mineralization. According to data received so far – from drill holes QGQ24-16 and QGQ24-17 – the horizontal width of the mineralization zone is a substantial 286 meters. However, drilling of QGQ24-17 was only terminated because it was so close to the boundary with Osisko Development’s territory. This means that the true extent of mineralization there is not even known yet…

Golden Cariboo has already conducted further drilling towards the north and northwest to more precisely delineate the Halo Zone in these directions. However, the analysis results are still pending. It has already been observed that broad, continuous quartz-carbonate +/- pyrite veins containing visible gold were encountered here as well, as the company reported at the end of October.

In any case, it is an “incredible” success to hit a 452-meter gold zone with the very first drill hole, emphasizes CEO Frank Callaghan. We are dealing with a gold system that extends over several kilometers in length – and is capable of producing mineralization zones of considerable size. And all this just a few kilometers away from a community, railway tracks, and a major highway! So far, Golden Cariboo has really only scratched the surface of the property and the Halo Zone with its drilling. But that, Mr. Callaghan continues, will soon change with the company’s already underway aggressive drilling program!