Analysis provides important information about Halo gold system
Now that’s a positive surprise! Golden Cariboo Resources Ltd (CSE:GCC; OTC:GCCFF; FSE:3TZ) announces that the average grade of the original discovery hole in the so-called Halo Zone has increased significantly according to new analyses!
Already when CEO Frank Callaghan’s company presented the original figures for drill hole QGQ24-13 a few weeks ago – 136.51 meters with 1.46 g/t gold – it rally gained the market’s attention. Now, with the help of selected metallic screening analyses, which replace the gold values of the fire assays, the company and the commissioned laboratory have come up with 136.51 meters with 1.77 g/t gold!
This includes a near-surface intercept of 23.89 meters of 3.32 g/t gold, which also contains 5.17 meters of 13.74 g/t gold. Overall, this increases the grade of hole #13 by a significant 21%.
Data analysis provides important information about Halo gold system
Golden Cariboo Resources also announces that the discovery of the Halo Zone and subsequent analysis of oriented drill core and field data by the technical team has provided important insights. Namely, the mineralized veins are sub-vertical and trend northeast oblique to the observed lithological contacts that extend northwest; three phases of deformation are observed in outcrop; and later faulting appears to be an important conduit for gold mineralization.
According to Golden Cariboo CEO Callaghan, the discovery of the new Halo Zone and the numerous drilling successes on the property show that the company is probably in an “immense gold system”. The company is already working systematically to explore the Halo Zone in more detail and to expand this extremely promising discovery in all directions.
Golden Cariboo’s geology team is currently compiling data from field work and drilling to determine the geometry and structural controls on the numerous instances of gold mineralization occurring on the Quesnelle Gold Qartz (QGQ) property. This is made all the easier by the fact that the Halo Zone is very easy to access, being only 4 kilometers from the community of Hixon on Highway 97 in central British Columbia. According to CEO Callaghan, this allows the company to drill all year round.
In our view, this is great news, too, for the company and its shareholders in view of the exceptional Halo Zone discovery, as it means they can hope for a continuous news flow and hopefully further strong drill results. However, the results of the third drill hole drilled in the Halo Zone are still pending. We are curious to see whether these will be as convincing as the previous results.
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