Golden Cariboo Resources (CSE:GCC) has reported significant findings in its ongoing drilling operations within the Halo zone, part of the Quesnelle Gold Quartz Mine property. The latest updates include the presence of visible gold and extensive quartz-carbonate veining in drill hole QGQ24-16, as well as ongoing work on drill hole QGQ24-17. This drilling program is part of the company’s targeted efforts to expand known mineralization areas on this historically rich gold site.
Golden Cariboo’s President and CEO Frank Callaghan commented in a press release: “We’ve only scratched the surface of this massive gold system. Through the excellent work of Dr. Palmer and the team we’ve increased our understanding of these structurally-controlled gold deposits on the property. Adding onto that, the MMI geochemistry results should help the technical team get a hint at what’s below the surface where there is till cover. Drilling continues to deliver examples of visible gold at the Halo zone and we anticipate continuing to deliver exceptional results. We’re seeing additional quartz veining and alteration within drill hole QGQ24-17 in unexplored territory.”
New Drilling Uncovers Visible Gold
The company completed drill hole QGQ24-16, which reached a depth of 362.10 meters (1188 feet) and revealed multiple instances of visible gold. According to Golden Cariboo, this particular drill hole was executed with an azimuth of 315 degrees and a dip of -45 degrees, targeting an extension of mineralization in the Halo zone. Golden Cariboo is continuing its work on the neighboring drill hole QGQ24-17, which has reached a depth of 343.21 meters (1126 feet) so far. Both holes have intersected extensive quartz-carbonate veining, indicating the potential for further mineralization.
The ongoing exploration seeks to map out the potential of these newly identified mineral zones, with the two drill holes positioned 150 meters north of previously known mineralization in the Halo zone. This positioning indicates that the company is actively pursuing expansion beyond the established boundaries of the existing deposit.
Additional MMI Soil Sampling and Mapping Programs
Golden Cariboo Resources also announced the completion of a Mobile Metal Ion (MMI) soil sampling program and a field mapping program. The MMI soil sampling, conducted around the Halo and North Hixon zones, is intended to detect elements commonly associated with gold deposits. This method can help identify anomalies in the soil that may indicate the presence of gold mineralization beneath the surface.
The mapping program aimed to further define the structural characteristics of the Halo zone, North Hixon zone, and Main zone. Through this program, Golden Cariboo’s geologists collected data on the kinematic history and structural features of the area, information crucial to understanding the mineral system’s geometry. These insights will inform future drilling efforts and guide the company’s exploration strategy as it continues to assess and define the property’s potential.
Golden Cariboo Resources’ Quesnelle Gold Quartz Mine Property
Golden Cariboo Resources’ primary project, the Quesnelle Gold Quartz Mine property, sits 4 kilometers northeast of Hixon in British Columbia and is accessible by road. The property encompasses the Quesnelle Quartz gold-silver deposit, which dates back to 1865 and was originally discovered during the Cariboo Gold Rush. Historically, Hixon Creek, which cuts through the site, has been a productive placer gold creek, and small-scale placer mining still occurs there.
The company’s exploration efforts focus on this property, which is largely surrounded on three sides by Osisko Development Corp., another prominent player in the region. Over 101 placer gold creeks have been recorded along a 90-kilometer trend from the Cariboo Hudson Mine to the Quesnelle property, underscoring the area’s rich mining history and potential.
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.
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