(TheNewswire)
June 21, 2023 – TheNewswire - Vancouver, Canada – Golden Cariboo ResourcesLtd. (the “Company”) (TSXV: GCC ) ( OTC:GCCFF ) ( WKN:A0RLEP) is pleased to report that the infill sampling fromtwo of three surface drill holes from 2022 has been completed, and 253drill core samples including 13 QA/QC samples have been shipped to ALSMinerals in North Vancouver, BC.
Drill hole QGQ22-01, which targeted mineralization atthe North Hixon zone, had 205 infill samples over a total of 200.15mto further define several gold intercepts including some of which werepreviously open in both directions as tabulated in the Company’sNews Release dated April 25, 2023. Drill hole QGQ22-02 targeted theKoch Vein as well as the greenstone-phyllite contact; and 35 samplesover a total of 36.55m complete the entire infill sampling programof 2022. Sampling of drill holes QGQ22-03 and logging of QGQ23-01,both drilled in the Main zone, are in progress.
Golden Cariboo Director, Andrew H. Rees commented“Golden Cariboo’s exploration team is encouraged that initialselect assays received from the company’s 2022 drill programnecessitated that the Company infill sample two of three holesdrilled. Our 2023 drill program is underway and results will bereleased as they become available.”
The technical information in this news release has beenreviewed by Jean Pautler, P.Geo., a qualified person with respect toNI 43-101.
AboutGolden 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 (NYSE: 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 Hixon Gold claims, is a placer creek which has seenlimited, small-scale placer production since the mid 1860's. FromMinistry of Mines Reports prior to 1945, estimates of up to $2,000,000worth of placer gold was mined from Hixon Creek.
GOLDEN CARIBOO RESOURCES LTD
“Andrew H. Rees”
Andrew H. Rees, Director
Neither the TSX Venture Exchange nor its RegulationService Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof 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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