Golden Cariboo Intersects 0.99 g/t Gold and 9.8 g/t Ag Over 237 m (777 ft) Including 1.45 g/t Gold Over 137 m (450 ft) Within a Broader Zone of 0.71 g/t Gold Over 342 m (1122 ft), Extending Halo Zone
VANCOUVER, BRITISH COLUMBIA - February 25, 2025 (NEWMEDIAWIRE) - Golden Cariboo Resources Ltd. (the "Company") (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) wishes to announce a significant extension to the Halo zone on its Quesnelle Gold Quartz Mine Property (the "Property"). Drill hole QGQ24-20 intersected 0.71 g/t gold with 6.96 g/t silver over 341.96 m (1121.9 ft) from 20.12 m (66.0 ft), including 0.99 g/t gold with 9.8 g/t silver over 236.88 m (777.2 ft) and 1.45 g/t gold with 16.05 g/t silver over 137.17 m (450.0 ft). This includes better grade intercepts returning 7.36 g/t gold with 164.95 g/t silver over 11.95 m (39.2 ft) and 16.35 g/t gold with 9.09 g/t silver over 4.29 m (14.1 ft). See Table 1 on the following page. Core recovery for these latter intervals was only 43% and 46% respectively, which could result in overall lower values due to the loss of mineralized soft sulphide bearing, brecciated, fractured and/or altered material.
These intersections extend the Halo zone horizontally by 100 m (328.1 ft) to the northwest from the previously released drill hole QGQ24-19, with QGQ24-20 being the northwestern-most drill hole completed to date on the Property. The Halo zone now comprises an irregular, up to approximately 320m by 290m by 320m body. Mineralization remains open to the northwest and at depth, including 718 m of untested strike north-northwest towards the Pioneer past producer. See Figures 1 to 5 enclosed and on the Company website www.goldencariboo.com.
Drill hole QGQ24-20, set up at an azimuth of 354 and inclination of -45, was the final drill hole completed during the 2024 drill program, with an objective to establish northwest continuity of the Halo zone and to test for stronger grades encountered previously in the western portion of the zone, most notably in QGQ24-13 which returned 136.51 m of 1.77 g/t gold. Drill hole QGQ24-20 was successful in encountering stronger grades which are found to be associated with a major fault along a greenstone contact, between the mafic to intermediate volcanic host rocks to gold mineralization (greenstones) and a black argillite unit. The historical Quesnelle Quartz Mine on the Property is similarly situated along the greenstone contact (Figure 3 enclosed), and marks a significant development to encounter the greenstone contact for the first time in the Halo zone in QGQ24-20. The Halo zone and the Quesnelle Quartz Mine are both situated within a multi-kilometer trend that extends across the Property. Subsequent drill holes will continue testing the northwest continuity of the Halo zone along the greenstone contact (Figures 1 and 3 enclosed).
Golden Cariboo's President and CEO, Frank Callaghan, stated, "Drill hole QGQ24-20 capped off a remarkable year, stepping out 100m and delivering another exceptional intercept that affirms the Halo zone as a major discovery in the Cariboo Gold District. Greenstone contacts host many of the world's premier gold camps, and we have now identified one only 4 kilometres from a major highway and community in central British Columbia. The next chapter of another bedrock source of the long and storied Cariboo Gold Fields is now being written in Hixon."
Table 1: Reported gold intercepts for QGQ24-20
Drill hole
From (m)
To (m)
Interval (m)*
Au g/t
Au g/t (capped^)
Ag g/t
Interval (ft)*
QGQ24-20
20.12
362.08
341.96
0.71
0.52
6.96
1121.9
including
20.12
257
236.88
0.99
0.7
9.77
777.2
including
40.10
177.27
137.17
1.45
0.99
16.05
450.0
including
82.05
105.25
23.20**
4.61
2.2
86.26
76.1
including
82.05
94.00
11.95***
7.36
3.38
164.95
39.2
including
85.93
90.22
4.29****
16.35
5.26
9.09
14.1
including
92.00
94.00
2.00
6.36
6.36
957.00
6.1
and including
126.00
128.00
2.00
12.50
9.08
5.60
6.6
* Interval widths reported at this point have insufficient data to reliably estimate true width.
**Core recovery for this interval is 59%
***Core recovery for this interval is 43%
****Core recovery for this interval is 46%
^ Gold grades have been capped at 10 g/t ("grams per tonne").
QA/QC samples including blanks, standards and coarse reject duplicates constitute 5% of the total number of samples.
The shipments were sent to the ALS laboratory in North Vancouver (accredited) for laboratory analysis. Assays were crushed by ALS to >70% passing below 2 mm and split using a riffle splitter, and 1 kg splits were pulverized to >85% passing below 75 microns. An aqua regia digest with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish was used for 36-element analysis on 0.5 g aliquots. All samples were analyzed for gold content by fire assay with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish on 50 g aliquots. Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 50 g sample (ALS code: Au-GRA21).
The technical information in this news release has been reviewed by Jean Pautler, P.Geo., a qualified person with respect to NI 43-101.
Figure 1: Reported gold intercepts in the Halo and North Hixon zones. Northerly drill holes have been undertaken to intersect the northwest-trending zone, gold bearing quartz-carbonate+/- pyrite veins and lithological contacts, and northeast-trending gold bearing quartz-carbonate+/-pyrite veins at an oblique angle
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 Corp. and partly intertwined at the north end of the Cariboo Gold Project, and located along a favorable corridor adjacent to the Spanish and Eureka thrust faults over a 94,889 hectare (234,501 acre) area. 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
Neither the "CSE" Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements:
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.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will receive all necessary exemptions and approvals to complete the Offering; that the Company will complete the Offering on the terms disclosed, or at all; that the proceeds will be used for property exploration and for general working capital; that the Company will have the resources required to proceed with its exploration plans; that the Company will not run into regulatory or other barriers in carrying out its business plans; that the insider will participate in the Offering, on the terms and conditions and in the amount currently expected by management; and that the Company will be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis anticipated.
Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not receive the necessary exemptions and approvals to complete the Offering; that the Company will not complete the Offering on the terms disclosed, or at all; that the Company will be unable to use the proceeds for property exploration and for general working capital; that the Company may incur unanticipated costs; that the Company may not have the resources required to pursue its exploration plans; that the Company's operations could be adversely affected by possible future government legislation policies and controls or by changes in applicable laws and regulations; that the insider may not participate in the Offering on the terms and conditions and in the amount currently expected by management, or at all; and that the Company may not be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis currently expected. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
