Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) announced it has signed a purchase contract for a 5.36-acre freehold fee simple property in Hixon, British Columbia, to serve as a camp location supporting the advancement of its nearby Quesnelle Gold Quartz Mine Property. The property, with direct access to Highway 97, is being acquired for $300,000 CAD, with a $50,000 non-refundable deposit paid and the remaining $250,000 due on or before October 30, 2026. The deposit allows possession prior to completion, and the company plans to set up an Atco 5 Unit Skid-Mounted Mobile Camp at the site.
The camp acquisition is a strategic move to enhance operational efficiency as Golden Cariboo intensifies exploration at the Quesnelle Gold Quartz Mine property. The property is situated along a favourable geological corridor adjacent to the Spanish and Eureka thrust faults, covering a 94,899-hectare (234,501-acre) area. Historically, over 101 placer gold creeks on the 90-kilometer 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.
In parallel, the company provided a drilling update, announcing the completion of hole QGQ26-30, which was drilled to a depth of approximately 402 meters (1,319 feet) at an orientation of 270 degrees / -54 degrees. The hole targeted the western contact of the Halo zone from the same pad as QGQ26-29. The recently completed hole ended in favourably altered volcanics approximately 235 meters (771 feet) horizontal distance west of its collar. Core logging is currently in progress.
Drilling of hole QGQ26-31 commenced this week about 70 meters (230 feet) north of QGQ26-30, also targeting the western contact of the Halo Zone. Further updates will be provided as available.
The Quesnelle Gold Quartz Mine property, located 4 kilometers (2.5 miles) northeast of Hixon, includes the Quesnelle Quartz gold-silver deposit discovered in 1865. The deposit was developed over a footprint of about 150 meters by 150 meters (less than 6 acres) at the Main zone straddling Hixon Creek. The geological setting of gold mineralization at the property shows strong similarities with the Spanish Mountain gold deposit, situated 120 kilometers (75 miles) to the southeast along the same geological trend. As a sediment-hosted vein (SHV) deposit, the Spanish Mountain deposit is considered part of the epizonal orogenic subclass, which includes some of the world's largest deposits such as Muruntau in Uzbekistan and Bendigo in Australia.
Golden Cariboo is proceeding with highly targeted drilling and trenching programs, aiming to rediscover the Cariboo Gold Rush. The company's Quesnelle Gold Quartz Mine property is bordered by Osisko Development and partly intertwined with them at the north end of the Cariboo Gold Project. This news matters as it signals continued investment in gold exploration in central British Columbia, potentially impacting the local mining industry and the broader resource sector. The acquisition of a camp property and ongoing drilling results could accelerate the development of the Quesnelle Gold Quartz Mine, providing economic benefits to the region and contributing to the understanding of gold mineralization in the area.
