Golden Cariboo Resources intersects 61.40 meters at 0.58 g/t gold!

At the Quesnelle Gold Quartz Mine, Golden Cariboo Resources (CSE: GCC, FSE: 3TZ, WKN: A402CQ) has intersected gold mineralization in two different zones in a total of three drill holes. Results were particularly encouraging in drill hole QGQ24-08, where gold mineralization was intersected in two locations, the most significant of which showed 0.58 g/t gold over a wide 61.40 metres.

Golden Cariboo Resources has set itself the goal of starting the Cariboo Gold Rush 2.0 by carrying out highly targeted drilling and prospecting programs at its Quesnelle Gold Quartz Mine. Osisko Development is the direct neighbor in three places and almost completely surrounds the company‘s claims. In the past, over 101 gold placer streams have been identified along the 90 km route from the Cariboo mine in Hudson north to the company’s Quesnelle property, from which gold was subsequently mined. Successful placer mining continues to this day.

Golden Cariboo’s Quesnelle Mine is located four kilometers northeast of Hixon in central British Columbia and is easily accessible by road. The property covers the Quesnelle quartz-gold-silver deposit, which was discovered in 1865 in connection with placer mining activities. Hixon Creek, which bisects the old mining areas, is a placer creek that has been used for small-scale placer mining since the mid-1860s.

The company, led by J. Frank Callaghan as President and CEO, now wants to build on the successes of the past. And the chances of are quite good, as Golden Cariboo Resources was able to intersect gold mineralization in three drill holes, QGQ24-08, QGQ24-07 and QGQ24-05, in both the North Hixon Zone and the Main Zone.

Peak values of 8.26 g/t gold achieved

Golden Cariboo Resources landed two hits in drill hole QGQ24-08. First, at a depth of 229.55 meters, 0.867 g/t gold was intersected over a length of 3.45 meters. Further down the hole, which had a final depth of 712.01 meters, the geologists struck gold again, as a 61.40 meter long interval intersected 0.58 g/t gold on average at a depth of 179 meters. At its peak, the gold content even rose to 8.26 g/t over a length of one meter.

Holes QGQ24-05 to -07 were drilled in the Main Zone. QGQ24-05 targeted a suspected F2 fold termination northwest of the intercept that had returned 1.35 g/t gold over 41.0 meters in QGQ23-04 in 2023. QGQ24-05, drilled to a depth of 321.60 metres, returned a series of gold intercepts grading greater than 1 g/t in narrow portions of the hole (0.4-1.4 g/t gold) and is believed to have been drilled entirely in the hanging wall of the mineralized zone.

Both holes QGQ24-06 and QGQ24-07 were terminated at a depth of 172.20 metres and 56.65 metres respectively without significant results as it was difficult to find the fault-hosted mineralized zone. A similar situation had already occurred in 2023 with drill hole QGQ23-04.

Geological 3D modelling started

3D geological modeling is underway and structural geologist, Dr. Sarah E. Palmer, was on site to assist with the analysis. Ms. Palmer identified three phases of folding that are consistent with the presumed model for mineralization on the property: epizonal orogeny, also recently described as continental margin sediment-hosted gold and previously known as turbidite-hosted gold and saddle reefs. Examples of such deposits include the Cariboo gold deposit in Wells-Barkerville, British Columbia, the Spanish Mountain property near Likely, the Meguma area in Nova Scotia, the Queensway project in Newfoundland, the Bendigo area in Australia and the large Muruntau deposit in Uzbekistan. However, the above-mentioned deposits are not necessarily representative of the Quesnelle Gold Quartz Mine property.

Golden Cariboo CEO Frank Callaghan is delighted with these initial results. As he explained to Goldinvest.de: “This new discovery appears to continue to depth. I can’t wait to get the next assay results from this drill hole!”

Conclusion: In our opinion, Golden Cariboo is off to a great start with its drilling at the Quesnelle Gold Quartz Mine project. Hits in the Hixon North as well as the Main Zone bode well for the next results from this first drill program. And with the information gathered so far, a future geological 3D model should help target drilling even better. We’ll stay tuned for sure!