900 Square Kilometers of New, Promising Area
Golden Cariboo Resources Ltd. (CSE:GCC; OTC:GCCFF; FSE:3TZ) made an unparalleled gold discovery during the 2024 exploration season on its Quesnelle Gold Quartz Mine. When CEO Frank Callaghan’s team unexpectedly had the opportunity to stake additional land with similar geological characteristics, they seized it.
Golden Cariboo thus secured an additional 90,989 hectares of claims adjacent to the QGQ property, which also have a history of placer gold mining. The company now controls a total of 95,122 hectares in the northern Cariboo Gold District, large parts of which have not yet been explored for lode gold.
Entire Geological Belt Secured
The company recently made a significant gold discovery in the Halo Zone of its project, where it demonstrated, among other findings, 1.77 g/t Gold over a substantial mineralized section of 136.51 meters. In light of this, Golden Cariboo staked out a geological belt that includes a regional-scale intrusion known as the Naver Pluton.
This belt, according to the company, exhibits crucial geological features that are also found on the QGQ project – and in other major gold deposits of the Cariboo Gold District!
These include:
- – The occurrence of the Nicola Group (Quesnel Terrane), which contains the host rock formations of the project and several others in the Cariboo Gold District, including the 4.7 million ounce Spanish Mountain deposit,
– The Snowshoe Group (Barkerville Subterrane), which contains the host rock formations of the 5.3 million ounce Cariboo Gold Project currently being brought into production by Osisko Development,
– Major thrust faults at the terrane boundary between the Quesnel Terrane and the Barkerville Terrane, namely the Eureka and Spanish thrusts, which are inferred deep-seated crustal faults that generated orogenic gold systems throughout the Cariboo Gold District.
– The occurrence of placer gold deposits at the intersection of the above-mentioned faults
Golden Cariboo’s CEO Frank Callaghan recalls his success with Barkerville. Back then, almost 25 years ago, he explains, the first thing they did after the Bonanza Ledge discovery in the Wells-Barkerville camp was to stake most of the belt surrounding it. Callaghan can hardly believe that the opportunity has arisen to repeat this step now! As a result, they have secured more than 900 square kilometers of prospective area in a belt that runs parallel to the company’s discovery and its project. Callaghan sees this as the beginning of a new era for Golden Cariboo.
Golden Cariboo’s CEO is supported by Dr. Sarah Palmer, the company’s consulting structural geologist, who commented: “The newly staked area contains the key components for a productive mineral system characterized by deep-seated structures and receptive host rocks that converge right next to the Quesnelle Gold Quartz Mine property. This, together with the surface indicators for placer gold, provides a strong technical framework for a little-explored geological belt.”
