Golden Cariboo Resources Ltd. (CSE:GCC, OTC:GCCFF, WKN:A402CQ, FSE:3TZ) announced Tuesday the completion of five diamond drill holes targeting high priority structural features adjacent to the established Halo zone on its Quesnelle Gold Quartz Mine property in central British Columbia. The drilling campaign, which included holes QGQ26-30 through QGQ26-34, has expanded the dataset for the company's upcoming maiden Mineral Resource Estimate (MRE), now encompassing up to 9 historical drill holes alongside the company's first 30 surface diamond drill holes.
Drill hole QGQ26-30, which tests the western contact of the Halo zone, was added to the MRE after ongoing property-wide data validation provided the opportunity to include it. “Integrating hole QGQ26-30 into our upcoming maiden Mineral Resource Estimate is a pivotal addition that directly enhances the scale and confidence of our geological model,” said President and CEO Frank Callaghan in a statement. “Property wide data validation allowed us to expand the MRE dataset to thirty of our surface diamond drill holes alongside historical data, while our latest drilling campaign successfully stepped out to test structural contacts and the corridor toward the Main zone.”
Core logging and sampling are in progress, with assays being conducted by MSALabs of Prince George on an ongoing basis. The technical information in the release has been reviewed and approved by Gordon Gibson, an independent consultant and Qualified Person under NI 43-101.
The Quesnelle Gold Quartz Mine property, located 4 kilometers northeast of Hixon, British Columbia, spans 94,899 hectares along a favorable corridor adjacent to the Spanish and Eureka thrust faults. Historically, over 101 placer gold creeks on the 90-kilometer trend have recorded production. The property includes the Quesnelle Quartz gold-silver deposit, discovered in 1865 and developed over a footprint of about 150m x 150m at the Main zone. The geological setting shows strong similarities with the Spanish Mountain gold deposit, a sediment-hosted vein deposit considered part of the epizonal orogenic subclass, which includes world-class deposits such as Muruntau in Uzbekistan and Bendigo in Australia.
This expansion of the MRE database is significant for Golden Cariboo as it moves toward defining the true footprint of the gold system on its property. The company continues to maintain cost-effective, year-round drilling, with assays from the latest holes expected to further refine the geological model and potentially increase resource estimates. The property is bordered by Osisko Development and partly intertwined with the Cariboo Gold Project, positioning Golden Cariboo in a highly prospective mining district.
