Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) has provided a drilling update for the Halo zone of its Quesnelle Gold Quartz Mine Property, located approximately 4 kilometers east of Hixon, British Columbia. The company announced the completion of two additional surface diamond drill holes from the same drill pad situated at 531388mE, 5922785mN (UTM Nad83), a few meters south of the previous QGQ25-28 collar.
QGQ26-31 was drilled to a depth of about 109 meters (356 feet) with an orientation of 270°/-53° to target the western contact of the Halo zone. The company reported that the contact was successfully located at approximately 79 meters (258 feet) depth. A second hole, QGQ26-32, was oriented 270°/-45° and collared a few meters west of QGQ26-31. This hole was cased beyond the contact and drilled to a depth of about 103 meters (337 feet). Core logging is currently in progress for both holes.
In addition, the company noted that QGQ26-29 continues to be hand split, with about two days remaining, and samples are shipped regularly to MSALAB in Prince George for analysis. Further updates will be provided as available.
The Quesnelle Gold Quartz Mine property is strategically located along a favorable corridor adjacent to the Spanish and Eureka thrust faults, covering 94,899 hectares (234,501 acres). It is bordered by Osisko Development and partly intertwined with their Cariboo Gold Project at the north end. Historically, over 101 placer gold creeks on 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.
Golden Cariboo’s property is 4 kilometers (2.5 miles) northeast of Hixon and road accessible. The property includes the Quesnelle Quartz gold-silver deposit, discovered in 1865 and 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 the gold mineralization shows strong similarities with the Spanish Mountain gold deposit, located 120 kilometers (75 miles) southeast along the same geological trend. As a sediment-hosted vein (SHV) deposit, the Spanish Mountain deposit is considered to belong to the epizonal orogenic subclass of gold deposits, which include some of the world’s largest deposits such as Muruntau, Uzbekistan and Bendigo, Australia.
This drilling update is significant as it demonstrates continued progress in targeting the Halo zone, which could expand the known mineralization at the property. For investors and the mining industry, successful intersection of the targeted contact provides validation of the geological model and could lead to further resource definition. The company’s work is part of a broader effort to rediscover the Cariboo Gold Rush through highly targeted drilling and trenching programs.
For further information, visit the company’s website at www.goldencariboo.com.
