Golden Cariboo Discovers New Zone At Quesnelle Gold Quartz Mine Property Following Trenching Program

FULL DISCLOSURE: This is sponsored content for Golden Cariboo Resources.

A new discovery has been made by Golden Cariboo Resources (TSXV: GCC) as a result of a trenching and regional mapping program conducted last fall. The new discovery is found 800 metres to the north-northwest of the Main Zone at the firms Quesnelle Gold Quartz Mine property.

The new discovery, referred to as Halo, was identified after a 10 metre long trench was conducted that hit 1.34 g/t gold. Grab samples were primarily collected here due to overburden being 6.0 metres deep, however one channel sample assayed at 0.45 g/t gold over 1.0 metres.

Grab samples meanwhile were assayed at 5.08 g/t gold, 2.97 g/t gold and 1.01 g/t gold within a sheared fault zone. Mineralization is said to be southwest of the favourable contact zone, and is open laterally in all directions and at depth.

“The results from our trenching and mapping programs have exceeded expectations resulting in a new discovery, reaffirming our belief in the potential of the Quesnelle Gold Quartz Mine property. The presence of substantial gold-bearing mineralization in trench assays will play a role in directing our next phases of drilling and exploration efforts on the Property,” commented director Andrew H. Rees.

Further exploration of the Halo zone is targeted to occur this year, which is to include further trenching and mapping.

Elsewhere, the trenching program also saw the North Hixon Zone extended by 100 metres to the southwest. Grab samples conducted at the zone assayed at 0.76 g/t gold and 0.52 g/t gold in mineralized greenstone-listwanite, while silicified greenstone sample assayed at 1.31 g/t gold and quartz vein saw samples assay at 1.02 g/t gold. The program as a whole saw 6 chip, 13 channel, and 46 grab samples collected from trenches.

Current exploration meanwhile consists of an ongoing 5,000 metre drill program, which is currently targeting the Main Zone at the Quesnelle Gold property. Drilling under the program is also said to occur at the Koch Vein, the East Zone, and the North Hixon Zone.

Golden Cariboo Resources last traded at $0.095 on the TSX Venture.


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.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Golden Cariboo Hits 452 Metres Of 0.30 g/t Gold

Golden Cariboo Resources (CSE: GCC) has again intersected long widths of gold mineralization at its...
Monday, December 9, 2024, 09:53:05 AM

Golden Cariboo Mobilizes Field Crew For Surface Mapping And Prospecting

Golden Cariboo Resources (CSE: GCC) is expanding its ongoing exploration program at the Quesnelle Gold...
Tuesday, May 14, 2024, 09:35:25 AM

Golden Cariboo Raises $1.3 Million Under First Tranche Of Financing

Golden Cariboo Resources (CSE: GCC) has successfully closed the first tranche of its ongoing private...
Friday, March 1, 2024, 10:45:44 AM

Golden Cariboo Hits 0.29 g/t Gold Over 263.1 Metres

Further assay results have been released by Golden Cariboo Resources (CSE: GCC) in relation to...
Tuesday, June 18, 2024, 08:48:05 AM

Golden Cariboo Closes Out $2.0 Million Financing

Golden Cariboo (CSE: GCC) has closed out its financing, raising gross proceeds of $2.0 million...
Friday, March 22, 2024, 09:39:02 AM