Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announced that independent consultants are in the final stages of preparing the company's inaugural Mineral Resource Estimate (MRE) for its Quesnelle Gold Quartz Mine Property, located approximately 4 kilometres northeast of Hixon, British Columbia. This MRE will provide the first formal quantification of gold mineralization outlined through the company's drilling, exploration, and geological modelling 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.
Frank Callaghan, President and CEO, expressed optimism about the upcoming milestone. "This is an exciting time for Golden Cariboo, our shareholders and the region," he stated. "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 favourable geological corridor adjacent to the Spanish and Eureka thrust faults, covering a 94,899 hectare area. Historically, over 101 placer gold creeks on the 90-kilometre trend from the Cariboo Hudson mine north to the property have recorded production. The property includes the Quesnelle Quartz gold-silver deposit, discovered in 1865 and developed over a footprint of about 150 metres by 150 metres at the Main zone. The geological setting shows similarities to the Spanish Mountain gold deposit, located 120 kilometres southeast, which is considered an epizonal orogenic gold deposit, a class that includes world-class deposits such as Muruntau in Uzbekistan and Bendigo in Australia.
The completion of the MRE is a significant step for Golden Cariboo as it transitions from exploration to a more defined understanding of its resource potential. This formal quantification will not only provide investors with a clearer picture of the project's value but also serve as a foundation for future development decisions. The company's focused drilling and trenching programs have been aimed at rediscovering the Cariboo Gold Rush, and this MRE will be a key deliverable in that effort.
Golden Cariboo Resources Ltd. is a mineral exploration company focused on its Quesnelle Gold Quartz Mine property, which is bordered by Osisko Gold Group and partly intertwined with them at the north end of the Cariboo Gold Project. The company's exploration activities are part of a broader trend that has seen significant interest in the Cariboo region's gold potential. With the MRE on the horizon, Golden Cariboo is poised to provide a comprehensive technical snapshot that could attract further investment and partnerships.
For more information, visit the company's website at www.goldencariboo.com.
