Golden Cariboo Exploration Achievements Highlight Several New Gold Discoveries at its Quesnelle Gold Quartz Mine Property
GOLDEN CARIBOO RESOURCES LTD.
1100 - 1111 MELVILLE ST
VANCOUVER, B.C. CANADA V6E 3V6
TELEPHONE: 604-669-6463
GOLDENCARIBOO.com
CSE Stock Symbol GCC
Golden Cariboo Exploration Achievements Highlight Several New Gold Discoveries at its
Quesnelle Gold Quartz Mine Property
January 29, 2025
Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC ) (OTC:GCCFF)
(WKN:A402CQ) (FSE:3TZ) wishes to summarize the accomplishments of its 2024 exploration activities
at the Quesnelle Gold Quartz Mine property (the ‘Property’), located about 4 kilometers northeast of
Hixon, central British Columbia, Canada.
The main focus of 2024 exploration activities were drilling and property-scale bedrock mapping with the
emphasis of understanding the extent of gold mineralization and the potential structural controls of
mineralization at the Property. The Company commenced their exploration program in April 2024 which
included drilling approximately 5,500 meters (18,000 feet) in 17 NQ sized surface diamond drill holes in
three general areas, property scale bedrock mapping and a 15-line kilometers (9.3 miles) MMI soil
geochemistry survey, finishing up the season in December 2024. Significant accomplishments were
made throughout the season, including some highlights as noted below.
● At the Main zone:
○ three additional drill holes were collared and identified additional zones of replacement
including in drill hole QGQ24-05 which was drilled to 321.6 meters (1,055 feet) and yielded
a number of greater than 1 g/t gold intercepts over narrow down- hole intervals (0.4-1.4 g/t
gold) (June 11, 2024 News Release)
○ the western extent of Main zone mineralization was located in contact with black graphitic
argillite, and
○ gold mineralization is open at depth, to the east and along trend to the northwest and
southeast, beyond the mapped extents of the historic Quesnelle Quartz Mine workings.
● At the North Hixon zone:
○ an upper cut to the inaugural drill hole QGQ22- 01 drill hole highlighted visible gold
associated with sphalerite and a 263.1 meter (863 feet) intercept grading 0.29 g/t gold in
drill hole QGQ24-08 (July 16, 2024 News Release ) including 0.58 g/t Au over 61.4m and
0.43 g/t Au over 89.7m, and including 0.99 g/t Au over 24.6m . A second hole, QGQ24-09,
located along trend about 100 meters (328 feet) to the northwest also extended
mineralization to the northwest, and
○ bedrock mapping identified a potential southeasterly extension of the North Hixon zone
located about 137 meters (492 feet) southeast of drill hole QGQ24- 08, with 1.27g/t gold
from a grab sample (December 3, 2024 News Release)
● At the Halo zone:
○ 12 surface drill holes were collared and multiple zones with visible gold were observed in
core of the Halo zone which is 830 meters (2,723 feet) northwest of the historic Quesnelle
Gold Quartz Mine and Main zone,
○ select intercepts include 136.51m (447.87 ft) averaging 1.77 g/t gold in discovery drill hole
QGQ24-13 (December 17, 2024 News Release), as well as 275.31 m (903.2 ft) of 0.53 g/t
gold from a depth of 39.01 m (127.99 ft), including 50.99 m (167.3 ft) of 1.28 g/t gold in drill
hole QGQ24-16 (November 19, 2024 News Release), and
○ the trend at Halo zone is open in all directions.
In summary, 2024 exploration at the Quesnelle Gold Quartz Mine property successfully identified multiple
parallel northwesterly trending zones of gold mineralization, including numerous zones with visible gold
observed in core and on surface over a horizontal width of at least 600 meters (1,970 feet) between the
North Hixon zone and the western margin of the Halo zone. This extends over a strike length of at least
2 kilometers (1.24 miles) adjacent to the greenstone contact along the Spanish thrust fault and between
the historic Quesnelle Quartz Mine to the south and Buckley Creek to the north, with mineralization still
open in all directions. The 2025 exploration season will build upon these findings, delineate the gold
bearing zones and target new areas using the knowledge gained in 2024 by our experienced team.
Additionally, significant mineral title acquisitions were made later in the season. The Washburn Lateral
Crown-granted mineral claim or District Lot 9545 was acquired by the Company and includes first rights
to economic minerals within the Lot. It was fir st granted in 1920 and was once part of the Quesnelle
Quartz Mining Co. Ltd land package, retained its rights over the years and is an encumbrance to overlying
ground and computer staked claims. Golden Cariboo now owns the Lot which is located immediately
adjacent to the Main zone and the North Hixon zone, successfully consolidating the Quesnelle Gold
Quartz Mine property.
The Company also strategically staked a 90,989 hectare (224,052 acre) mineral claim group contiguous
to the Quesnelle Gold Quartz Mine property along a geological belt encircling a regional -scale intrusion
known as the Naver pluton. This belt contains key geological criteria encountered at the 2024 Project
area and at major gold deposits in the Cariboo Gold District, including 1) the presence of the Nicola Group
(Quesnel terrane), which contains the host rock formations to the Project and several others in the
Cariboo Gold District, including the 4.7 Moz Spanish Mountain Deposit ( May 11, 2021 News Release ),
2) the Snowshoe Group (Barkerville subterrane), which contains the host rock formations to the 5.3 Moz
Cariboo Gold Project currently under construction by Osisko Development Corp. (TSXV: ODV) (January
3, 2023 News Release), 3) major thrust faults on the terrane boundary between Quesnel terrane and the
Barkerville subterrane, namely the Eureka and Spanish thrusts, which are the inferred deep -seated
crustal faults that produced orogenic gold systems across the Cariboo Gold District, and, 4), the presence
of placer gold occurrences situated at the confluence of the above faults.
The technical information in this news release has been reviewed by David Mark, 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 bordered
by Osisko Development (NSE:ODV/TSXV:ODV) and partly intertwined with them at the north end of the
Cariboo Gold Project, and located along favorable corridor adjacent the Spanish and Eureka thrust faults
over a 95,122 hectare (235,150 acre) area. 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
VISIT OUR WEBSITE FOR MORE DETAILS
www.goldencariboo.com
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