Golden Cariboo Resources Ltd. has acquired 13 cells of placer claims at the Halo zone, totaling 250 hectares, for $60,000 CAD. The purchase secures 100% of the placer rights for the company. This acquisition occurs alongside active drilling at the site, with drill hole QGQ25-28 currently at a depth of 715.00 meters. The drilling has intersected intermittent quartz-carbonate veining, silicification, and disseminated and stringer pyrite mineralization, targeting an area northwest of the Halo zone.
The technical information has been reviewed and approved by Jean Pautler, a Professional Geoscientist registered with the Association of Professional Engineers and Geoscientists of the Province of BC and a Qualified Person under NI 43-101 standards. The company's operations are focused on the Quesnelle Gold Quartz Mine property, located 4 kilometers northeast of Hixon in central British Columbia. This property is bordered by Osisko Development and situated along a favorable geological corridor adjacent to the Spanish and Eureka thrust faults over a 94,899-hectare area.
Historically, over 101 placer gold creeks along 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 today. The property includes the Quesnelle Quartz gold-silver deposit, discovered in 1865 and developed over a footprint of about 150 meters by 150 meters at the Main zone straddling Hixon Creek. The geological setting shows strong similarities with the Spanish Mountain gold deposit, located 120 kilometers southeast along the same geological trend.
As a sediment-hosted vein deposit, the Spanish Mountain deposit is considered part of the epizonal orogenic subclass of gold deposits, which includes some of the world's largest deposits such as Muruntau in Uzbekistan and Bendigo in Australia. The company's exploration activities are part of rediscovering the Cariboo Gold Rush through targeted drilling and trenching programs. For more information, visit https://www.goldencariboo.com or view the original release on https://www.newmediawire.com.
The news release contains forward-looking statements regarding the company's plans, intentions, and expectations, which are subject to risks and uncertainties. These include assumptions about receiving necessary exemptions and approvals, completing offerings, using proceeds for exploration and working capital, and insider participation. Factors that could cause actual results to differ include regulatory barriers, unanticipated costs, and changes in laws or market conditions. The company cautions readers not to place undue reliance on forward-looking information, as actual future results may vary materially. The forward-looking statements speak only as of their original date, and the company undertakes no obligation to update them except as required by law.
