Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announced that independent consultants are finalizing the company’s inaugural Mineral Resource Estimate (MRE) for its Quesnelle Gold Quartz Mine Property, located approximately 4 kilometers northeast of Hixon, British Columbia. The MRE will provide the first formal quantification of gold mineralization outlined through the company’s drilling, exploration, and geological modeling programs, and will also incorporate historical exploration data.
The company anticipates releasing the completed MRE upon receipt of its independent NI 43-101 technical report. This milestone is expected to consolidate years of exploration into a single resource model, offering a comprehensive technical snapshot of the project and marking a significant step toward the next phase of development.
“This is an exciting time for Golden Cariboo, our shareholders and the region,” stated Frank Callaghan, President and CEO. “Every drill hole, every assay result and every geological breakthrough has expanded our understanding of the Halo, North Hixon and Main zones. We are now approaching the point where all of that work will be consolidated into a single independent resource model, providing the first comprehensive technical snapshot of the project and our first step towards the next phase of development.”
The Quesnelle Gold Quartz Mine property is situated along a favorable corridor adjacent to the Spanish and Eureka thrust faults, covering 94,899 hectares (234,501 acres). Historically, over 101 placer gold creeks on the 90-kilometer trend from the Cariboo Hudson mine north to the property have recorded production, with successful placer mining continuing to this day. The property includes the Quesnelle Quartz gold-silver deposit, discovered in 1865 and developed over a footprint of about 150m x 150m at the Main zone straddling Hixon Creek.
The geological setting of the gold mineralization shows strong similarities with the Spanish Mountain gold deposit, located 120 kilometers southeast along the same trend. As a sediment-hosted vein (SHV) deposit, Spanish Mountain is considered an epizonal orogenic gold deposit, a category that includes some of the world’s largest deposits such as Muruntau in Uzbekistan and Bendigo in Australia.
Golden Cariboo is focused on rediscovering the Cariboo Gold Rush through targeted drilling and trenching on its property, which is bordered by Osisko Gold Group and partly intertwined at the north end of the Cariboo Gold Project. The release of the MRE is expected to provide investors and stakeholders with a clearer understanding of the project’s potential, potentially influencing future exploration and development decisions.
The company has not yet set a specific date for the MRE release but says it will be made public once the technical report is finalized. For more information about Golden Cariboo Resources, visit their website at www.goldencariboo.com.
