Golden Cariboo Resources drills 0.8 g/t gold over 204.85 metres at Halo Zone, Quesnelle property, British Columbia

Golden Cariboo Resources Ltd. [CSE: GCC; OTC: GCCFF; WKN: A4O2CQ; FSE: 3TZ] has extended the previously disclosed Halo zone discovery, Quesnelle property, British Columbia, with a gold intersection in drill hole QGQ24-14, intersecting 204.85 metres (672.08 feet (ft)) of 0.80 g/t gold from surface, including 143.85 metres (471.95 ft) of 1.01 g/t gold.

This intersection represents continuity of the broad Halo zone, from surface gold mineralization intersected in drill hole QGQ24-13. Mineralization comprises quartz-carbonate veining containing low to moderate concentrations of pyrite plus or minus visible gold within broad iron-carbonate plus or minus sericite alteration envelopes. The host rock is variably altered volcaniclastic rocks interpreted to be Takla Group. Drill hole QGQ24-14 was drilled from the same pad as QGQ24-13, which intersected 136.51 m of 1.46 g/t gold and is a 45-degree change in orientation toward the north from drill hole QGQ24-13. Gold mineralization at depth in drill hole QGQ24-14 extends 100 m from drill hole QGQ24-13.

Frank Callaghan, president and CEO, stated: “Our results further expand the Halo zone discovery to the north. Drilling to date confirms that it’s a continuous and thick zone of gold mineralization from surface, which remains open in all directions. With holes 13 and 14, we now have two amazing drill holes that have been interpreted to be a separate trend from our previous success at the North Hixon zone, 474 metres to the southeast, where we intersected 263.10 m (863.20 ft) of gold mineralization in drill hole QGQ24-08. Our full team of geologists and support staff are currently on site in anticipation of the next phase of drilling.”

Drill hole QGQ24-14 tested farther to the north of discovery drill hole QGQ24-13. Drill hole QGQ24-14 was drilled at an azimuth of 282 degrees and an inclination of minus 48 degrees, and ended at a vertical depth of 211 m. The vertical depth at the bottom of the reported 204.85 m intercept is 167 m.

Golden Cariboo is rediscovering the Cariboo gold rush by proceeding with highly targeted drilling and trenching programs on its Quesnelle gold quartz mine property, which is almost fully encircled on three of four sides by Osisko Development. Historically, over 101 placer gold creeks on the 90 km trend from the Cariboo Hudson mine north to the Quesnelle gold quartz mine property have recorded production and successful placer mining continues to this day.

Golden Cariboo’s Quesnelle gold quartz mine property is four km northeast of, and road accessible from, Hixon in central British Columbia. The project includes the Quesnelle quartz gold-silver deposit, which was discovered in 1865 in conjunction with placer mining activities. Hixon Creek, which dissects the old workings, is a placer creek that has seen small-scale placer production since the mid-1860s.