Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announced that independent consultants are in the final stages of preparing the company's inaugural Mineral Resource Estimate (MRE) for its Quesnelle Gold Quartz Mine property, located approximately 4 kilometers northeast of Hixon, British Columbia. The MRE will provide the first formal quantification of gold mineralization outlined through the company's drilling, exploration, and geological modeling programs, and will incorporate historical exploration data. The company anticipates releasing the completed MRE upon receipt of its independent NI 43-101 technical report.
This milestone represents a significant step for Golden Cariboo as it consolidates years of exploration into a single independent resource model. "Every drill hole, every assay result and every geological breakthrough has expanded our understanding of the Halo, North Hixon and Main zones. We are now approaching the point where all of that work will be consolidated into a single independent resource model, providing the first comprehensive technical snapshot of the project and our first step towards the next phase of development," stated Frank Callaghan, President and CEO.
The Quesnelle Gold Quartz Mine property is strategically located along a favorable corridor adjacent to the Spanish and Eureka thrust faults, over a 94,899 hectare area. The property is bordered by Osisko Gold Group and is partly intertwined with their Cariboo Gold Project at the north end. Historically, more than 101 placer gold creeks along the 90-kilometer 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.
The property includes the Quesnelle Quartz gold-silver deposit, discovered in 1865, developed over a footprint of about 150 meters by 150 meters at the Main zone straddling Hixon Creek. The geological setting shows strong similarities to the Spanish Mountain gold deposit, located 120 kilometers southeast along the same trend. Spanish Mountain is considered a sediment-hosted vein (SHV) deposit within the epizonal orogenic subclass, which includes some of the world's largest deposits such as Muruntau in Uzbekistan and Bendigo in Australia.
For more details, visit the company's website at www.goldencariboo.com. Follow the company on Instagram, Facebook, X (Twitter), and LinkedIn.
This news release contains forward-looking information within the meaning of applicable securities laws. Such statements are based on assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. Readers are advised not to place undue reliance on forward-looking statements. The company has no intention to update these statements except as required by law.
