Truly a significant intercept in greenfield exploration
Golden Cariboo Resources Ltd (CSE:GCC; OTC:GCCFF; FSE:3TZ) is again encountering encouraging wide intercepts of structurally-hosted gold in its eighth hole at its Quesnelle Gold Quartz Mine property near Hixon, British Columbia. Hole QGQ24-08 was advanced to a final depth of 712.01 metres. After evaluation of the upper half of the drill core, it is clear that 0.29 g/t gold over 263.10 metres, including a new zone of 0.68 g/t gold over 41.85 metres (137.3 feet), has been intersected to date. Results below 324.96 metres are pending.
Two distinct gold-bearing zones are recognised within a broad gold anomalous zone. Gold mineralisation is associated with quartz, ±carbonate, veins, pyrite and faults within a moderately steep, southeast trending structural zone located near the contact with the intermediate to mafic metavolcanic rocks in the North Hixon Zone. The zone represents a blind discovery.
J. Frank Callaghan, President and CEO of the Company, said: “This new 263.10 m (863.2 ft) blind discovery represents a new mineralised trend on the Quesnelle Gold Quartz Mine property. This is truly a significant intercept in greenfield exploration.”
Golden Cariboo Resources Ltd.’s Quesnelle Gold Quartz Mine property is almost completely surrounded on three of four sides by Osisko Development (NSE-ODV/TSXV-ODV). In the past, over 101 gold placer streams have been mined on the 90 km stretch from the Cariboo Hudson Mine northwards to the Quesnelle Gold Quartz Mine property and successful placer mining continues to this day. Golden Cariboo’s Quesnelle Gold Quartz Mine property is located 4 km northeast of Hixon in central British Columbia and is accessible by road. The property includes the Quesnelle quartz-gold-silver deposit, which was discovered in 1865 in connection with placer mining activities. Hixon Creek, which cuts through the old mining areas, is a placer creek that has been used for small-scale placer mining since the mid-1860s.
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