FULL DISCLOSURE: This is sponsored content for Golden Cariboo Resources.
Golden Cariboo Resources (CSE: GCC) has expanded its land holdings near to the Quesnelle Gold Quartz Mine. The company has acquired an additional claim, adjacent to the claim containing the historic gold mine.
The claim, referred to as the Washburn Lateral District Lot, is a 20.0 hectare claim located to the northeast of the Quesnelle Quartz Mine. Recent drilling conducted by Golden Cariboo, including discovery hole QCQ24-08, which intersected 0.29 g/t gold over 263.10 metres, was collared 43 metres from the northwest boundary of the new claim.
The claim is said to have had very limited historical exploration on it, despite being initially staked in 1913. A single drill hole is believed to have been conducted on the property in 1972, which was drilled to a depth of 91 metres on the southern corner of the claim.
“Acquiring the Washburn Lateral is an important milestone for the Company, providing us with a key parcel of land within our multi-kilometer gold trend on our Property. With this District Lot now in hand, the Company is able to test our gold trend to the southeast from our discovery made in the North Hixon zone earlier this year,” commented Frank Callaghan, CEO of Golden Cariboo.
The claim was acquired for a cash payment of EUR$10,000 and 200,000 common shares of the company, priced at $0.20 per each.
Golden Cariboo Resources last traded at $0.20 on the CSE.
FULL DISCLOSURE: Golden Cariboo Resources is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is long the equity of Golden Cariboo Resources. The author has been compensated to cover Golden Cariboo Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
