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 kilometers northeast of Hixon, British Columbia. The MRE will provide the first formal quantification of gold mineralization outlined through the company's drilling, exploration, and geological modeling 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.
This development is crucial for Golden Cariboo as it transitions from exploration to potential development. The MRE will consolidate years of work into a single independent resource model, offering a comprehensive technical snapshot of the project. Frank Callaghan, President and CEO, expressed excitement, stating, "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 strategically located within a favorable geological corridor adjacent to the Spanish and Eureka thrust faults, covering a 94,899-hectare area. The property is bordered by Osisko Gold Group and is partly intertwined with them at the north end of the Cariboo Gold Project. Historically, over 101 placer gold creeks along a 90-kilometer trend from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine property have recorded production, with successful placer mining continuing today.
The Main zone, discovered in 1865, has been developed over a footprint of about 150 meters by 150 meters (less than 6 acres) straddling Hixon Creek. The geological setting of gold mineralization at the property shows strong similarities with the Spanish Mountain gold deposit, located 120 kilometers southeast along the same geological trend. Spanish Mountain is considered a sediment-hosted vein (SHV) deposit belonging to the epizonal orogenic subclass of gold deposits, which includes some of the world's largest deposits such as Muruntau in Uzbekistan and Bendigo in Australia.
The completion of the MRE is expected to provide investors and stakeholders with a clearer understanding of the project's potential and will serve as a foundational step for future development decisions. As Golden Cariboo advances, the company continues to explore and develop its assets, aiming to contribute to the revitalization of the historic Cariboo Gold Rush region.
For more information about Golden Cariboo Resources Ltd., visit their website at www.goldencariboo.com.
