New drill program up and running

In parallel with the ongoing QGQ24-08 drilling, Golden Cariboo Resources Ltd. (CSE-GCC, OTC-GCCFF, FRA: A0RLEP) is systematically reprocessing the 2022 drilling and trenching data from its Quesnelle Gold Quartz Mine property near Hixon, British Columbia. The latest compilation of drill core data has now highlighted broader zones of gold mineralization than was reported in the initial sampling in April 2023.

In particular, data from hole QGQ22-01 indicates that mineralization is open to depth. A 32 meter intercept averaging 0.87 g/t gold was intersected at the bottom of the hole between 235 and 267 meters. Previously only the high-grade zones had been considered. This time, two intermediate low-grade intervals were included in the analysis. The Company is testing the northwest extension of the Main Zone of the greenstone-shale contact and has advanced 50 m (164 ft) to the southwest with QGQ24-08 from QGQ22-01 in the North Hixon Zone.

Figure 1: Re-interpretation at the end of hole QGQ22-01, geologists believe mineralization continues to depth.

Additional drilling at the North Hixon Zone is targeting the western and vertical extension of several gold intercepts also resulting from the 2022 drilling and trenching programs. Drilling from this year’s campaign is ongoing. The Company has completed approximately 1,564 m (5,132 ft) in 7 holes to date in the Main and North Hixon Zones. Assay results for QGQ24-05 to QGQ24-07 are pending. Drill hole QGQ24-08 is currently underway and is also designed to test the up-dip extent of mineralization.

Golden Cariboo Resources Ltd. is exploring the Quesnelle Gold Quartz Mine property approximately 4 km northeast of Hixon in central British Columbia. The project covers the Quesnelle Quartz gold-silver deposit, which was discovered in 1865 in association with placer mining activities. The Quesnelle Gold Quartz Mine property is almost completely surrounded on three of four sides by Osisko Development (NSE-ODV/TSXV-ODV).


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