Golden Cariboo Resources Ltd. announced additional encouraging results from hole QGQ24-08 (See June 11, 2024 News Release) at the North Hixon zone on its Quesnelle Gold Quartz Mine Property (the “Property”) near Hixon, British Columbia. Two distinct gold-bearing zones are evident within a broad gold anomalous zone as shown in the table below. The new results are shown in bold. The overall result includes both the zone previously released and the new results. All intercepts to date are included in a table on the Company’s website at www.goldencariboo.com.
Significant QGQ22-08 Results
| QGQ22-08 | FROM (m) | TO (m) | INTERVAL (m)* | Au (g/t) | Au (g/t) capped^ | INTERVAL (ft)* |
| Overall | 43.6 | 306.7 | 263.1 | 0.29 | 0.26 | 863.2 |
| including | 179 | 240.4 | 61.4 | 0.58 | 0.58 | 201.4 |
| which includes | 178.6 | 221.5 | 42.9 | 0.71 | 0.71 | 140.7 |
| and including | 264.85 | 306.7 | 41.85 | 0.68 | 0.51 | 137.3 |
| which includes | 279.0 | 303.6 | 24.6 | 0.99 | 0.70 | 80.7 |
^ Gold grades have been capped at 10 g/t (“grams per tonne”).
New Results in Bold.
Gold mineralization is associated with quartz, ±carbonate, veins, pyrite and faults within what appears to be a moderately steep, southeast trending structural zone hosted by a sequence of fine clastic metasedimentary rocks, proximal to the contact with the intermediate to mafic metavolcanic rocks, at the North Hixon zone. The zone constitutes a blind discovery encountered at the bottom of QGQ24-01, while attempting to intersect the source of magnetite-pyrite bearing float which contained 9.8 g/t Au.
“This new 263.10m (863.2ft) blind discovery represents a new mineralized trend on the Quesnelle Gold Quartz Mine Property. This is truly a significant intercept in greenfield exploration.”
Company president and CEO, J. Frank Callaghan
Logging and sampling of QGQ24-08 are complete down to the hole’s final depth of 712.01m, with assays pending below 324.96m.
The technical information in this news release has been reviewed by Jean Pautler, 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 Property 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: 604-682-2928
VISIT OUR WEBSITE FOR MORE DETAILS
LIKE AND FOLLOW
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Cautionary Statements
This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding; the expectation that the Company will receive all necessary exemptions and approvals to complete the Offering; the expectation that the Company will complete the Offering on the terms disclosed, or at all; the expectation that the proceeds will be used for property exploration and for general working capital; the Company’s exploration plans with respect to its Quesnelle Gold Quartz Mine property; and the anticipated participation of the insider in the Offering.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will receive all necessary exemptions and approvals to complete the Offering; that the Company will complete the Offering on the terms disclosed, or at all; that the proceeds will be used for property exploration and for general working capital; that the Company will have the resources required to proceed with its exploration plans; that the Company will not run into regulatory or other barriers in carrying out its business plans; that the insider will participate in the Offering, on the terms and conditions and in the amount currently expected by management; and that the Company will be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis anticipated.
The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
