Further visual indications of a significant gold system
The presence of gold in drill core visible to the naked eye does not always mean that laboratory analysis of the samples will show significant gold mineralization. However, in Golden Cariboo Resources’ (CSE GCC / WKN A402CQ) drilling at the Halo Zone discovery, drill core with visible gold has so far always returned intercepts with strong gold mineralization. This bodes well for the latest drill holes, the results of which are still pending.
And CEO Frank Callaghan’s company has just announced that visible gold has also been observed in numerous places in the latest drill hole to date, QGQ24-20, which has already reached a depth of 327.66 meters! This is a seamless continuation of the series, as gold was already visible to the naked eye in the cores of holes QGQ24-16 to QGQ24-19…
As mentioned, Golden Cariboo is testing the Halo Zone to the north with drill hole QGQ24-20. To date, extensive quartz-carbonate+/pyrite veining and associated alteration of the volcanic host rocks has been encountered, similar to previously drilled holes. Incidentally, with the first drill hole of phase two at the Halo Zone (#16), the company encountered 275.31 meters of 0.53 g/t gold, including 50.99 meters of 1.28 g/t gold!
Map of current drilling and reported gold intercepts in the Halo zone; Golden Cariboo Resources
Overall, drill hole #20 is the eighth consecutive Halo Zone drill hole in which visible gold has been observed. This reminds CEO Frank Callaghan of his team’s exploration success at the Cariboo Gold Project, located approximately 75 kilometers southeast of the company’s QGQ property. The project is now owned by Osisko Development and recently received approval to commence mine construction.
With the intention of repeating the success of the Golden Cariboo project with QGQ, Mr. Callaghan has set out with Golden Cariboo Resources on this latest venture and, as far as can be judged for now, he and his team are on the right track! Because today’s fourth extension hole to the discovery holes, which were reported earlier this fall, provides a visual indication that the company may be on the trail of a significant gold system.
We are excited to see what happens next, as Golden Cariboo Resources also announced that the camp on the QGQ property is now prepared for the winter so that work can continue during the cold season. Drilling will only be suspended between December 22, 2024 and January 6, 2025. This will ensure a steady flow of news, especially as the results of numerous promising drill holes are still pending, too!
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