"Incredible grades for this thickness"
This drill hole could be a company maker! Gold explorer Golden Cariboo Resources Ltd (CSE:GCC; OTC:GCCFF; FSE:3TZ) is presenting the first results from the so-called Halo Zone – and they show a spectacular new gold discovery!
From a depth of just 9.49 meters below the surface, CEO Frank Callaghan’s company encountered a huge, continuously mineralized interval 136.51 meters long! On average, the gold content of this exceptionally thick mineralized interval in drill hole QGQ24-13 was a strong 1.46 g/t gold per tonne. Of this, 23.89 meters contained an average of 1.82 g/t gold, a further 22.73 meters contained 3.18 g/t gold, and 39.33 meters contained 1.89 g/t gold.
Querschnitt des Bohrlochs QGQ24-13 in der Halo-Zone; Quelle: Golden Cariboo Resources
Successful 830 meters extension hole
This drill success is also significant because drill hole QGQ24-13 tested the mineralization trend of the so-called Halo Zone, which is located 830 metres from the historic Quesnelle Gold Quartz Mine (QGQ), which means a significant step-out! Golden Cariboo had already made a discovery near QGQ in mid-June and demonstrated thick mineralization intercepts, the grades of which increased at depth.
Another very positive aspect of today’s announcement: Drill hole QGQ24-13 remains open in all directions, according to Golden Cariboo, so there is the potential to significantly expand what we believe already is an outstanding discovery!
“Incredible grades for this thickness”
In addition, Golden Cariboo also has seen significant gold grades in other drill holes. For drill hole QGQ24-09, which was drilled in the Hixon Zone, the company had already presented a large part of the results and has now reported an intersection of 0.73 meters with 37.00 g/t gold at a depth of around 345 meters. Hole QGQ24-10 was the first hole drilled into the Halo Zone and, according to today’s announcement, intersected 0.3 meters of 0.66 g/t gold, 0.46 meters of 1.26 g/t gold and 0.75 meters of 2.46 g/t.
Golden Cariboos CEO Frank Callaghan is understandably excited about his company’s near-surface discovery, which also has “phenomenal grade for its thickness”! He continued, “It is unimaginable that a discovery of this caliber can be made just 4 kilometers from a town and a major highway in British Columbia, and this is the most significant discovery in the Cariboo Gold District since the Bonanza Ledge discovery our team made 24 years ago. The discovery is open in all directions.”
Conclusion: 136.51 meters at 1.46 g/t gold per tonne – and higher grade intercepts therein – is indeed significant and a more than promising start for Golden Cariboo in the Halo Zone. In our view, this discovery could prove to be a company-maker for the company, especially as the mineralization remains open for expansion in all directions. We are now eagerly awaiting the results of drill holes QGQ24-14 to QGQ24-15 (also Halo Zone), in which Golden Cariboo observed visible gold in numerous places, too!
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