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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
