Golden Cariboo Identifies 1.8 Kilometre Long Anomaly In Geophysics Results
FULL DISCLOSURE: This is sponsored content for Golden Cariboo Resources.
Golden Cariboo Resources (TSXV: GCC) has received a gift of sorts from Osisko Development, whom it was recently discovered previously conducted airborne mag and EM surveys over the the Quesnelle Gold Quartz Mine property.
The geophysical surveys were conducted during the 2016 – 2017 field season, without Golden Cariboo previously being aware of the work conducted. The survey covered over 1,000 hectares of the property, and was discovered via publicly available data published by Osisko.
Correlations are said to have been made with that data and limited surface mapping and trenching results conducted by Golden Cariboo. After the data was reviewed by Geotronics Consulting, who previously conducted an IP survey on the Quesnelle property, it is said that there is a strong northwest trend in the anomalies across the property, which agrees with known geology that has faulting and lithological contacts that trend to the northwest.
READ: Golden Cariboo Discovers New Zone At Quesnelle Gold Quartz Mine Property Following Trenching Program
The Main Zone and Halo Zone are said to occur within a strong northwesterly-trending magnetic high, while the North Hixon Zone is found on the northeastern edge of the same magnetic high, which is 1.8 kilometres long. Given that gold has been identified within altered greenstone which is not normally expected to be magnetic, it could indicate basaltic volcanic rocks or ultramafic rocks potentially occur at depth.
A conductor also occurs across the property in the same northwesterly direction to the west of known mineralization.
“The Company’s evaluation of Osisko’s data appears to support their staking program which almost entirely encircles Golden Cariboo’s Quesnelle Gold Quartz Mine Property. The Company is currently drilling at the Property and is extremely encouraged with initial findings, in part utilizing knowledge gained from Osisko’s geophysical data along with its own internal exploration efforts,” commented director Andrew Rees.
Current exploration efforts will include additional re-interpretation of the existing airborne geophysical data, which will be incorporated with surface mapping and geochemistry results.
Golden Cariboo last traded at $0.08 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.
