Next drill program already running
Golden Cariboo Resources Ltd (CSE:GCC; OTC:GCCFF; FSE:3TZ) reported three drill holes with numerous patches of visible gold from its new discovery, the so-called Halo Zone, some time ago. Assay results from the first two drill holes have already demonstrated excellent gold grades over significant intervals of mineralization starting at or near surface. And with the results released today, this near-surface gold mineralization is extended once again.
Golden Cariboo has just announced that drill hole QGQ24-15 intersected gold mineralization from surface over an 85.83 metre interval averaging 0.55 g/t gold. This also includes a higher grade interval of 17.06 meters grading 1.75 g/t gold. Thus, according to the company, this mineralized interval represents the continuation of the thick gold mineralization from surface previously encountered in holes QGQ24-13 and QGQ24-14. However, QGQ24-15, drilled from the same location as #13 and #14 but at a steeper angle, encountered a larger volume of a volcanic flow unit that is considered less amenable to veining and gold mineralization compared to holes QGQ24-13 and QGQ24-14.
In addition, drill hole QGQ24-11 intersected 0.25 g/t gold over 65.27 meters, including 11.09 meters of 1.00 g/t gold. This hole encountered a fault at the top of bedrock followed by a mineralized portion of the Halo Zone at a depth of 86 metres, according to Golden Cariboo. With subsequent drilling, the company hopes to gain further insight into the geometry of the fault and the volcanic flow unit to improve targeting opportunities within the Halo Zone.
Halo Zone discovery provides important data on the gold system
Golden Cariboo further states that the discovery at the Halo Zone and subsequent analysis of oriented drill core and field data by the technical team have provided several important points regarding this gold system. The veins of mineralization are sub-vertical to vertical and trend to the northeast, oblique to the observed lithological contacts that extend to the northwest. Geologists have also observed three phases of deformation in the outcrop and later faulting appears to be an important conductor of gold mineralization.
Summary: Golden Cariboo has already recommenced drilling to build on what CEO Frank Callaghan has described as “fantastic” results to date. The company is now undertaking a targeted, systematic drilling program to both further define the Halo Zone and expand beyond it. Given the massive gold mineralization intercepts drilled to date, data from the drilling, geophysics and field surveys are now being combined to demonstrate further mineralization with high tonnage potential. Also exciting is further exploration work announced to determine whether Golden Cariboo has discovered three separate zones of mineralization (Halo, North Hixon and Main) on the Quesnelle Gold Quartz property, or whether the Halo Zone is a continuation of the Main Zone, while North Hixon represents a parallel trend. Despite the impressive exploration successes to date, Golden Cariboo still has a lot of work to do. We look forward to continuing to follow this exciting company!
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