Golden Cariboo Resources Ltd. announced today an extension of the previously disclosed Halo zone discovery (See September 10, 2024 News Release) with a gold intersection in drill hole QGQ24-14 intersecting 204.85m (672.08 ft) of 0.80 g/tonne gold from surface, including 143.85m (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 +/- visible gold within broad iron-carbonate +/- 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 136.51m of 1.46 g/t gold and is a 45-degree change in orientation towards the north from drill hole QGQ24-13. Gold mineralization at depth in drill hole QGQ24-14 extends 100 meters from drill hole QGQ24-13. See Figure 3 for further context.
Golden Cariboo’s President and CEO, Frank Callaghan stated “Our fantastic 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, 474m to the southeast, where we intersected 263.10 meters (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.”
| QGQ24-14 | FROM (m) | TO (m) | INTERVAL (m)* | Au g/t** | Au (g/t)** capped^ | INTERVAL (ft)* |
| QGQ24-14 | 4.00 | 208.85 | 204.85 | 0.80 | 0.44 | 672.08 |
| Including | 46.35 | 190.2 | 143.85 | 1.01 | 0.50 | 471.95 |
* Interval widths reported at this point have insufficient data to reliably estimate true width.
** Au g/t calculated using fire assay results replaced with metallic screen results for all samples selected for metallic screen analysis
^ Gold grades have been capped at 10 g/t (“grams per tonne”).
Drill hole QGQ24-14 tested further to the north of drill hole QGQ24-13’s discovery hole. Drill hole QGQ24-14 was drilled at an azimuth of 282 degrees, an inclination of -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. See maps enclosed in the figures below and the Company website (www.goldencariboo.com) for further context.
QA/QC samples including blanks, standards and coarse reject duplicates constitute 5% of the total number of samples.
The shipments were sent to the ALS laboratory in North Vancouver (accredited) for its laboratory analysis. Samples in hole QGQ24-13 (and going forward) had a change in assaying method to mitigate potential nugget effect. QGQ24-14 assays were crushed by ALS to >70% passing below 2 mm and split using a riffle splitter. 1000 g splits were pulverized to >85% passing below 75 microns. An aqua regia digest with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish was used for 36-element analysis on 0.5 g aliquot. All samples were analyzed for gold content by fire assay with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish on 50 g aliquot. Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 50 g sample (ALS code: Au-GRA21). Additionally select samples have been chosen for metallic screening. For metallic screening, a 1 kg pulp was screened to 100 microns. The entire oversize fraction and duplicate 50 g assays on the undersize fraction were completed.
The technical information in this news release has been reviewed by Dr. Sarah Palmer, P.Geo., a qualified person with respect to NI 43-101.
About Golden Cariboo Resources Ltd.
Golden Cariboo Resources Ltd. 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 3 of 4 sides by Osisko Development (NSE-ODV/TSXV-ODV). 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 4 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 which has seen small-scale placer production since the mid-1860s.
For further information please contact:
GOLDEN CARIBOO RESOURCES LTD
“J. Frank Callaghan”
J. Frank Callaghan, President & CEO
Tel: 604-669-6463
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