Golden Cariboo Hits 22.3 Metres Of 0.69 g/t Gold In Initial Drilling
FULL DISCLOSURE: This is sponsored content for Golden Cariboo Resources.
Golden Cariboo Resources (TSXV: GCC) has received partial assay results from a three hole phase one drill program that it has conducted at its Quesnelle Gold Quartz Mine in central British Columbia. Partial results were released this morning for two of the three holes drilled.
Highlights from the results include:
- 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
“The Company’s exploration thesis is that its Quesnelle Gold Quartz project contains similar host rocks to Osisko’s Cariboo Gold project consisting of the Bonanza Ledge mine and the multi-million ounce Cariboo Gold Mine that is expected to go into production as early as this year. Having personally been a part of the Bonanza Ledge discovery and bringing it into production, it is very exciting to have encountered similar A-veins, B-veins and replacement style mineralization that make up Osisko’s Bonanza Ledge operation,” commented Director Andrew Rees.
The first hole was drilled at the North Hixon Zone, 700 metres north-northeast of the Main Zone, with the hole designed to provide data on how mineralization is controlled. The second hole targeted the downdip projection of the Koch vein, encountering two quartz veins that were separated by greenstone wallrock. The third hole, for which assays have yet to be released, was designed as a 40 metre step back from the second hole, targeting the Koch vein system and replacement mineralization.
Golden Cariboo Resources last traded at $0.09 on the TSX Venture.
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