Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announced that independent consultants are in the final stages of preparing the company's inaugural Mineral Resource Estimate (MRE) for its Quesnelle Gold Quartz Mine property, located approximately 4 kilometres northeast of Hixon, British Columbia. The MRE will provide the first formal quantification of gold mineralization outlined through the company's drilling, exploration, and geological modelling programs, including historical exploration data. The company anticipates releasing the completed MRE upon receipt of its independent NI 43-101 technical report.
Frank Callaghan, President and CEO of Golden Cariboo, expressed excitement about the upcoming milestone. "Every drill hole, every assay result and every geological breakthrough has expanded our understanding of the Halo, North Hixon and Main zones. We are now approaching the point where all of that work will be consolidated into a single independent resource model, providing the first comprehensive technical snapshot of the project and our first step towards the next phase of development."
The Quesnelle Gold Quartz Mine property is situated in a historically significant mining region. Over 101 placer gold creeks on a 90-kilometer trend from the Cariboo Hudson mine north to the property have recorded production, with successful placer mining continuing to this day. 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 straddling Hixon Creek. The geological setting shows strong similarities with the Spanish Mountain gold deposit, located 120 km southeast along the same trend, which is classified as a sediment-hosted vein (SHV) deposit. SHV deposits belong to the epizonal orogenic subclass of gold deposits, which include some of the world's largest deposits such as Muruntau in Uzbekistan and Bendigo in Australia.
The company's property is bordered by Osisko Gold Group and is partly intertwined with them at the north end of the Cariboo Gold Project. It lies along a favourable corridor adjacent to the Spanish and Eureka thrust faults, covering a 94,899 hectare area. Golden Cariboo is focused on rediscovering the Cariboo Gold Rush through targeted drilling and trenching programs.
The release of the MRE is a critical step for Golden Cariboo as it transitions from exploration to development. The formal resource model will provide stakeholders with a clear understanding of the project's potential, which could influence future investment and strategic decisions. For the region, a positive resource estimate could bolster economic activity and reinforce the area's status as a significant gold-producing region. The company expects to release the MRE following the receipt of the NI 43-101 technical report.
For more information about Golden Cariboo Resources Ltd., visit their website at www.goldencariboo.com.
