FULL DISCLOSURE: This is sponsored content for Golden Cariboo Resources.
Drilling is set to begin at the Quesnelle Gold Quartz Mine property, operated by Golden Cariboo Resources (TSXV: GCC). The firm this morning indicated that drilling crews have arrived on site to begin the company’s 2023 exploration program.
The drill program for 2023 is set to expand on the success Golden Cariboo experienced in its fall 2022 three-hole drill program. That program had a number of highlights given its size, including:
- QGQ22-01:
- 0.98 g/t gold over 8.6 metres from 199.6 metres,
- 3.25 g/t gold over 1.3 metres from 245.0 metres,
- 2.65 g/t gold over 0.6 metres from 266.7 metres
- QGQ22-02:
- 4.76 g/t gold over 4.7 metres from 74.7 metres
- 0.69 g/t gold over 22.3 metres from 94.4 metres
Those results are said to be partial assays, with further results still pending. Hole QGQ22-01 targeted the North Hixon Zone, while the second and third holes targeted the Koch vein, with the drill intersecting two quartz veins separated by greenstone wall rock. Mineralization encountered is said to be visually similar to that of the Bonanza Ledge Mine operated by Osisko Development.
The 2023 program is set to consist of 5,000 metres of drilling in aggregate, with the company following the recommendations of geologist Jean Pautler, as outlined in the firms 43-101 report. The program is set to target several key zones, including the Koch Vein, the Main and East Zones, as well as the North Hixon Zone, with trenching also planned for the season. Exploration may also occur at the Cayenne and Pioneer showings, depending on the initial evaluation of the targets.
“Golden Cariboo is excited to advance its exploration thesis that its Quesnelle Gold Quartz project contains similar host rocks and mineralization to Osisko Development’s Cariboo Gold project consisting of the Bonanza Ledge mine and the multi-million ounce Cariboo Gold Mine on Island and Cow Mountains that is expected to go into production as early as this year,” commented director Andrew Rees.
Golden Cariboo Resources last traded at $0.09 on the TSX Venture.
FULL DISCLOSURE: Golden Cariboo Resources is a client of Canacom Group, the parent company of The Deep Dive. 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.
