Golden Cariboo Intercepts Additional Visible Gold in Latest Drill Hole QGQ24-20
November 26, 2024 – TheNewswire - Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announces multiple occurrences of visible gold (Figure 2 enclosed) have been encountered in the latest drill hole, QGQ24-20, subsequent to previously announced visible gold in drill holes QGQ24-16 to QGQ24-19 in a news release dated October 29, 2024.
Drill hole QGQ24-20 is testing the Halo zone discovery to the north and is currently in progress at a depth of 327.66 m (1075.0 ft) (see Figure 3 enclosed). The drill hole has encountered extensive quartz-carbonate+/-pyrite veins and associated alteration of the volcanic host rocks (Figure 1 enclosed). All figures can be viewed on the Company’s website at www.goldencariboo.com.
Additionally, the Company announces the winterizing of the field camp in Hixon, BC, allowing the Company to drill throughout the winter, with a planned break on December 22, 2024 and drilling to resume on January 6, 2025.
Golden Cariboo’s President and CEO, Frank Callaghan, stated “Drill hole QGQ24-20 is the eighth consecutive drill hole in our Halo zone discovery that has encountered visible gold. This is reminiscent of our exploration team’s success at the Cariboo Gold project, 75 km to the SE, which is now owned by Osisko Development and has recently been permitted to commence mine construction. Golden Cariboo’s team extends a heartfelt congratulations to Osisko Development for taking our dream of building a significant mine at the historic Cariboo Gold camp and seeing it through to fruition. Our current drill hole QGQ24-20 represents another step out from our discovery holes reported earlier this fall, and again is providing visual indication of a gold system of significant scale. With our camp now winterized, we will continue drilling to expand the discovery unabated.”
Figure 1: Altered volcanics with quartz-carbonate+/-pyrite veins to a depth of 265.2 m (870 ft) in QGQ24-20
Figure 2: Example of visible gold in drill hole QGQ24-20 at a depth of 131.1 m (430.1 ft)
Figure 3: Map of current drilling and reported gold intercepts in the Halo zone
The technical information in this news release has been reviewed by Jean Pautler, P.Geo., 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 almost fully encircled on 3 of 4 sides by Osisko Development (NSE-ODV/TSXV-ODV). Historically, over 101 placer gold creeks on the 90 km trend from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine property have recorded production and successful placer mining continues to this day.
Golden Cariboo’s Quesnelle Gold Quartz Mine property is 4 km northeast of, and road accessible from, Hixon in central British Columbia. The Project includes the Quesnelle Quartz gold-silver deposit, which was discovered in 1865 in conjunction with placer mining activities. Hixon Creek, which dissects the old workings, is a placer creek which has seen small-scale placer production since the mid 1860s.
For further information please contact:
GOLDEN CARIBOO RESOURCES LTD
“J. Frank Callaghan”
J. Frank Callaghan, President & CEO
Tel: 604-669-6463
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This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding; the expectation that the Company will receive all necessary exemptions and approvals to complete the Offering; the expectation that the Company will complete the Offering on the terms disclosed, or at all; the expectation that the proceeds will be used for property exploration and for general working capital; the Company’s exploration plans with respect to its Quesnelle Gold Quartz Mine property; and the anticipated participation of the insider in the Offering.
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