Frank Callaghan, President and CEO of Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF), joins me to review more gold assays reported to the market over long intercepts. These results from drillholes 16 and 17 have extended the mineralization and strike length at the Halo Zone, located at their flagship Quesnelle Gold Quartz Mine, in the Cariboo Mining District of British Columbia.
We start off having Frank outline what these latest 2 drillhole assays returned mean to the overall picture that is forming of the expanding mineralization at the Halo Zone.
- Drill hole QGQ24-16 intersected 275.31 m (903.2 ft) of 0.53 g/t gold from a depth of 39.01 m (127.99 ft), including 50.99 m (167.3 ft) of 1.28 g/t gold from 39.01 m depth. This is the initial drill hole from the current phase of drilling and represents strong widths and continuity of gold mineralization within the Halo zone discovery.
- Drill hole QGQ24-17 intersected 452.51 m (1484.6 ft) of 0.30 g/t gold near surface from a depth of 10.97 m (35.99 ft), including 27.32 m (89.6 ft) at 1.01 g/t gold and 51.26 m (168.2 ft) at 1.00 g/t gold. The broad, 452.51 m intercept of gold mineralization, extends the Halo zone 241 meters (790.7 ft) to the north from the QGQ24-14 collar and discovery holes drilled this past summer.
Next we discuss how the last 17 holes have all hit gold mineralization and how their geologists have really come to good understanding of the mineralization and have vectored in on exploring for gold at the greenstone belt contact zone at their Quesnelle Gold Quartz Mine. The exploration team has now drilled a total of 21 holes, and is going to continue on drilling year-round, with a small break for the holidays and any potential deep freeze winter temperatures. Much of the drilling has been testing the approximately 1km area between the Main Zone and Halo Zone, as well as now doing large step-outs beyond this area and extending the strike length of the mineralized trend. There is a strong geophysical signature helping out with targeting, that also extends on to their neighbor’s, Osisko Development’s land package, pointing to the potential of district scale mineralization.
Wrapping up, we got into the recent acquisition of the Washburn Lateral District Lot on the Company’s mineral claims, immediately northeast from the historic Quesnelle Quartz Mine, which contains the undersurface mineral rights to the claim area. On December 17th, the Company also announced the staking of 90,989 ha (224,052 acres) of contiguous mineral claims to the Company’s Quesnelle Gold Quartz Mine Property across the northern region of the Cariboo Gold District, bringing a new total of 95,122 ha (235,264 acres) held by the Company, and now making it the third largest claim holder in the Cariboo Gold District. The exploration team is keenly interested to get out and start ground-truthing more targets on this expanded land position.
If you have any questions for Frank regarding Golden Cariboo, then please email them into me at Shad@kereport.com.
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