GCC - Golden Cariboo Expands Replacement Style Mineralization at its Quesnelle Gold Quartz Mine Property
(TheNewswire)
January 18, 2024 - TheNewswire - Vancouver, Canada – Golden Cariboo ResourcesLtd. (the “Company”) (CSE: GCC ) / ( OTC:GCCFF ) / ( WKN:A0RLEP) is pleased toannounce that its team continues to identify and expand goldmineralization at the Main Zone of its Quesnelle Gold Quartz MineProperty which hosts alteration and mineralization styles visuallysimilar to that of Barkerville Gold Mines’ Cariboo Gold Project nearHixon, British Columbia.
Assay results have been received for QGQ22-03 andapproximately half of QGQ23-01, both of which targeted the extensionto replacement style mineralization intersected in QGQ22-02 whichreturned 0.69 g/t gold over 22.3m ( 23-April25 News Release ). Drill hole specifications are tabulated below.
| Hole ID |
| Easting (m) |
| Northing (m) |
| Az. (°) |
| Dip (°) |
| Length (m) |
| QGQ 22-02 |
| 531708 |
| 5921733 |
| 136 |
| -60 |
| 248.1 |
| QGQ 22-03 |
| 531680 |
| 5921763 |
| 136 |
| -55 |
| 217.9 |
| QGQ 23-01 |
| 531710 |
| 5921735 |
| 136 |
| -43 |
| 279.8 |
QGQ22-03 stepped back about 40m to the northwest ofQGQ22-02 to target the northern and downward projection of the Kochvein system and replacement mineralization. QGQ23-01 was drilled fromthe same pad as QGQ22-02 to target the up-dip extension of the samezone. The holes intersected replacement style mineralization in anuntested area between the Koch and Main shaft workings of thehistorical Quesnelle Quartz Mine. Significant results are tabulatedbelow:
| Hole |
| From(m) |
| To(m) |
| Interval(m) |
| Au (g/t) |
| QGQ 23-01 |
| 53.3 |
| 56.4 |
| 3.1 |
| 23.3 |
| and |
| 88.5 |
| 95.65 |
| 7.15 |
| 4.65 |
| including |
| 88.5 |
| 90.4 |
| 1.9 |
| 11.65 |
| intervening interval |
| 95.65 |
| 110.8 |
| 15.15 |
| 0.08 |
| and |
| 110.8 |
| 129.5 |
| 18.7 |
| 1.12 |
| including |
| 115.3 |
| 116.4 |
| 1.1 |
| 5.38 |
| 120.75 |
| 122.1 |
| 1.35 |
| 4.87 |
| QGQ 22-03 |
| 109.85 |
| 111.7 |
| 1.85 |
| 2.61 |
| and |
| 124.4 |
| 125.95 |
| 1.55 |
| 0.97 |
| and |
| 165.0 |
| 167.55 |
| 2.55 |
| 0.98 |
intervals represent down holelengths since true widths cannot be determined
QGQ23-01 intersected a quartz vein, possibly the KochVein, at a stoped area or drift of the Kochworkings recovering only 0.15m of the 3.1mintercept, which ran 23.3 g/t gold. The replacement mineralization,which lies below this, increased in size and tenor up-dip and to thesouth of the QGQ22-02 intercept, returning 4.65g/t Au over 7.15m and 1.12 g/t Au over 18.7m with an interveninginterval of only elevated gold of 0.08 g/t Au over 15.05m. Theremaining 129.85m of the hole has yet to be split and assayed andincludes additional zones of semi massive sulphide replacementmineralization.
The mineralized zone diverged to the north, returningtwo separate intervals of 2.61 g/t Au over 1.85mand 0.97 g/t Au over 1.55m in QGQ22-03 with a lower interval of 0.98g/t Au over 2.55m.
The replacement mineralization is primarily hosted insulphide bearing fine grained metamorphosed clastic sedimentary rocks,which are variably sericite altered and lie proximal to thegreenstone-phyllite contact.
The Halo Zone, discovered bytrenching in 2022, exposed similar style mineralization proximal tothe greenstone-phyllite contact approximately 800m northwest of theMain Zone ( 23-May18 News Release ).
The technical information in this news release has beenreviewed by Jean Pautler, P.Geo., a qualified person with respect toNI 43-101.
About Golden Cariboo Resources Ltd.
Golden Cariboo Resources Ltd. is rediscovering theCariboo Gold Rush by proceeding with high-grade targeted drilling andtrenching programs on its Quesnelle Gold Quartz Mine project which isalmost fully encircled on 3 of 4 sides by Osisko Development (NSE-ODV/TSXV-ODV) .His torically, over 101 placer gold creeks on the90 km trend from the Cariboo Hudson mine north to the Quesnelle GoldQuartz mine have recorded production in excess of 2.6 million ouncesof gold up to 1933 (Hall, 1986) and successful placer mining continuesto this day.
Golden Cariboo’s Quesnelle Gold Quartz Mine propertyis 4 km northeast of, and road accessible from, Hixon in centralBritish Columbia. The Property includes the Quesnelle Quartzgold-silver deposit, which was discovered in 1865 in conjunction withplacer mining activities and produced 2,048 tonnes grading 3.14 g/t Auand 4.18 g/t Ag in 1932 and 1939, with an additional 217 tonnes ofunknown grade reported in 1878 (BC Minfile, 2021). Hixon Creek, whichdissects the Quesnelle Gold Quartz Mine property, is a placer creekwhich has seen limited, small-scale placer production since the mid1860's. From Ministry of Mines Reports prior to 1945, estimates of upto $2,000,000 worth of placer gold was mined from Hixon Creek.
.
GOLDEN CARIBOO RESOURCES LTD.
“J. Frank Callaghan”
J. Frank Callaghan, President &CEO
Neither the “CSE” Canadian Securities Exchange norits Regulation Service Provider (as that term is defined in thepolicies of the Canadian Securities Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
This news release contains certain forward-lookingstatements which involve known and unknown risks, delays, anduncertainties not under the control of Golden Cariboo Resources Ltd.which may cause actual results, performance or achievements of GoldenCariboo Resources Ltd. to be materially different from the results,performance or expectation implied by these forward-lookingstatements. By their nature, forward-looking statements involve riskand uncertainties because they relate to events and depend on factorsthat will or may occur in the future. Actual results may varydepending upon exploration activities, industry production, commoditydemand and pricing, currency exchange rates, and, but not limited to,general economic factors.
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