FULL DISCLOSURE: This is sponsored content for Golden Cariboo Resources.
Golden Cariboo Resources (CSE: GCC) has announced a significant new gold discovery at the Halo zone, just 4 kilometers from the town of Wells, British Columbia, highlighted by an impressive 136.51-meter intersection of 1.46 gram per tonne (g/t) gold mineralization near the surface.
Through drill hole QGQ24-13, this mineralized section began just 9.49 meters below the surface, making it a near-surface deposit that could be economically advantageous for future mining.
“It is mind-boggling to think that a discovery of this caliber can still be made just 4 kilometers from a town and major highway in British Columbia,” CEO Frank Callaghan said.
The mineralization in the Halo zone consists of quartz-carbonate veining with varying concentrations of pyrite and, in some instances, visible gold. The surrounding rock is composed of volcaniclastics, likely part of the Takla Group—a geological formation known for its potential to host gold deposits.
“This is the most significant discovery in the Cariboo Gold District since the Bonanza Ledge Discovery made by our team some 24 years ago,” Callaghan further emphasized. That earlier discovery sparked renewed interest in the region’s mining potential, and the new find may have a similar impact on exploration and investment in the area.
The results from drill hole QGQ24-13 show consistent gold mineralization throughout the 136.51-meter interval. Notable sections include:
- 23.89 meters from a depth of 9.49 meters, grading 1.82 g/t of gold.
- 22.73 meters from 66.27 meters, grading 3.18 g/t of gold.
- 39.33 meters from 99.00 meters, grading 1.89 g/t of gold.
While these results provide promising indications of the deposit’s richness, it’s important to note that gold grades have been capped at 10 g/t. This means that exceptionally high-grade results, such as those with visible gold, are adjusted to avoid statistical skewing in early-stage exploration.
What makes this discovery even more compelling is that the mineralized trend at the Halo zone remains open in all directions, meaning that further exploration could reveal even larger deposits of gold. This potential for expansion is critical, as it suggests that the Halo zone may represent a significant part of the Cariboo region’s untapped gold resources.
The company has already begun additional analysis to better understand the extent of the gold mineralization, with select samples undergoing metallic screening for more precise results. This process will help determine if certain sections of the drill core contain even higher concentrations of gold than initially reported.
The Halo zone is located approximately 830 meters from the historic Quesnelle Gold Quartz Mine, a site that was once a major source of gold in the region. The proximity of the two sites could indicate that the same geological forces that created the Quesnelle deposit are at play in the Halo zone.
Historically, the Cariboo Gold District has been known for its rich veins of gold, but the discovery of a broad, near-surface deposit like Halo’s could change the nature of mining in the region. Unlike narrow, high-grade veins that are often difficult and expensive to mine, broad zones of mineralization near the surface can be more cost-effective to extract using modern open-pit mining techniques.
Golden Cariboo last traded at $0.22 on the CSE.
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.
