Golden Cariboo Resources Acquires Placer Claims at Halo Zone and Provides Drilling Update
Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announces that it has acquired 13 cells of placer claims at the Halo zone, totaling 250 ha. This purchase for 100% of the placer rights is for the sum of $60,000 CAD.
In addition to the placer claim acquisition, Golden Cariboo Resources wishes to provide an update on active drilling. Drill hole QGQ25-28 is ongoing, currently at a depth of 715.00m (2345.80 ft). It has intersected intermittent quartz-carbonate veining, silicification and disseminated and stringer pyrite mineralization as seen in the picture below. This drilling is targeting northwest of the Halo zone.
The technical information in this news release has been reviewed and approved by Jean Pautler, an independent consultant commissioned by the Company. Jean Pautler is a Professional Geoscientist (P.Geo.) registered with the Association of Professional Engineers and Geoscientists of the Province of BC (“APEGBC”) and licensed by Engineers and Geoscientists BC, and is a “Qualified Person” with respect to NI 43-101.
About Golden Cariboo Resources Ltd.
Golden Cariboo Resources Ltd. is rediscovering the Cariboo Gold Rush by proceeding with highly targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine property which is bordered by Osisko Development (NSE:ODV/TSXV:ODV), partly intertwined with them at the north end of the Cariboo Gold Project, and located along a favourable corridor adjacent to the Spanish and Eureka thrust faults over a 94,899 hectare (234,501 acre) area. 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 Quesnelle Gold Quartz Mine property is 4 kilometers (2.5 miles) northeast of, and road accessible from, Hixon in central British Columbia. The Property includes the Quesnelle Quartz gold-silver deposit, which was discovered in 1865 and developed over a footprint of about 150m x 150m (< 6 acres) at the Main zone straddling Hixon Creek. Overall, the geological setting of the gold mineralization at the Company’s Quesnelle Gold Quartz Mine property shows strong similarities with the Spanish Mountain gold deposit, situated 120 km (75 miles) towards the 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.
