Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announced that it is in the final stages of completing its inaugural Mineral Resource Estimate (MRE) for the Quesnelle Gold Quartz Mine property, located approximately 4 kilometres (2.5 miles) northeast of Hixon, British Columbia. The MRE, which will be prepared by independent consultants, will provide the first formal quantification of gold mineralization identified 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. This milestone is expected to consolidate years of exploration into a single, independent resource model, offering a comprehensive technical snapshot of the project and serving as a foundational step toward the next phase of development.
“This is an exciting time for Golden Cariboo, our shareholders and the region,” stated Frank Callaghan, President and CEO. “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 gold-producing region. Over 101 placer gold creeks along the 90-kilometer (56 mile) trend from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine property have recorded production, with successful placer mining continuing to this day. The property itself includes the Quesnelle Quartz gold-silver deposit, discovered in 1865 and developed over a footprint of about 150m x 150m (less than 6 acres) at the Main zone straddling Hixon Creek.
The geological setting of the gold mineralization at the property shows strong similarities with the Spanish Mountain gold deposit, located 120 km (75 miles) to the southeast along the same geological trend. Spanish Mountain is considered a sediment-hosted vein (SHV) deposit belonging to the epizonal orogenic subclass, which includes some of the world’s largest deposits such as Muruntau in Uzbekistan and Bendigo in Australia.
Golden Cariboo’s exploration efforts have focused on the Halo, North Hixon, and Main zones, with the company conducting highly targeted drilling and trenching programs. The property is bordered by Osisko Gold Group and is partly intertwined with them at the north end of the Cariboo Gold Project, situated along a favourable corridor adjacent to the Spanish and Eureka thrust faults over a 94,899 hectare (234,501 acre) area. The property is road accessible from Hixon in central British Columbia.
The upcoming MRE is a critical step for the company as it seeks to transition from exploration to development. By providing a formal estimate of the gold resources, the MRE will help stakeholders better assess the project's economic potential and inform future mining decisions. For the region, a successful resource estimate could reinforce the area's significance in British Columbia's mining landscape, potentially attracting investment and supporting local economic growth.
Golden Cariboo Resources Ltd. is focused on rediscovering the Cariboo Gold Rush, leveraging modern exploration techniques on historically productive ground. The completion of the MRE will mark a pivotal achievement, offering a transparent and independently verified assessment of the project's gold endowment.
