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 milestone is significant as it consolidates all exploration work to date into a single, comprehensive resource model, offering a technical snapshot of the project's potential and serving as a foundation for future development decisions.
“This is an exciting time for Golden Cariboo, our shareholders and the region,” stated Frank Callaghan, President and CEO. “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 along a favorable 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-kilometer trend from the Cariboo Hudson mine north to the property have recorded production, with placer mining continuing to this day.
The property includes the Quesnelle Quartz gold-silver deposit, discovered in 1865, which has been developed over a footprint of about 150 meters by 150 meters at the Main zone. The geological setting of the gold mineralization shows strong similarities with the Spanish Mountain gold deposit, situated 120 kilometers to the southeast along the same trend. As a sediment-hosted vein (SHV) deposit, Spanish Mountain is considered an epizonal orogenic gold deposit, a class that includes some of the world's largest deposits such as Muruntau in Uzbekistan and Bendigo in Australia.
The delivery of the MRE is expected to provide a clearer picture of the project's economic viability, potentially attracting further investment and partnerships. It also represents a critical step towards advancing the property towards potential development, which could have positive implications for the regional economy and the company's stakeholders.
For more information about Golden Cariboo Resources Ltd., visit their website at www.goldencariboo.com.
