Golden Cariboo Intersects 0.30 g/t Gold over 452.51 m (1484.6 ft) Near Surface, Including 1.01 g/t Gold over 27.32 m and 1.00 g/t Gold over 51.26 m, Expanding Halo Zone towards Claim Boundary with Osisko Development Corp.
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 Intersects 0.30 g/t Gold over 452.51 m (1484.6 ft) Near Surface, Including 1.01 g/t
Gold over 27.32 m and 1.00 g/t Gold over 51.26 m, Expanding Halo Zone towards Claim
Boundary with Osisko Development Corp.
December 9, 2024
Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF)
(WKN:A402CQ) (FSE:3TZ) announces today a significant expansion to the Halo zone in the second drill
hole from the current phase of drilling, drill hole QGQ24-17, which intersected 452.51 m (1484.6 ft) of
0.30 g/t gold near surface from a depth of 10.97 m (35.99 ft), including 27.32 m (89.6 ft) at 1.01 g/t gold
and 51.26 m (168.2 ft) at 1.00 g/t gold. The broad, 452.51 m intercept of gold mineralization, extends the
Halo zone 241 m (790.7 ft) to the north from the QGQ24 -14 collar and discovery holes drilled this past
summer (see Figure 1 enclosed and on the Company website www.goldencariboo.com).
The drill hole, set up at an azimuth of 000º and inclination of -45º, was the first of a series of northerly
oriented drill holes designed to test the northwest -trending mineralized zone, and northeast-trending
veins within it which host the gold mineralization. As currently defined by drill holes QGQ24- 16 and
QGQ24-17, the horizontal width of the mineralized zone is 286 m (938 ft). Notably however, QGQ24-17
was terminated due to proximity to the claim boundary with Osisko Development Corp. (TSXV: ODV) ,
and therefore the true extent of the mineralized zone is still unknown. Subsequent drill holes ( pending
results) were completed to further define the Halo zone to the north and northwest, whi ch also
encountered broad and continuous zones of quartz-carbonate+/-pyrite veining containing visible gold as
previously announced in a News Release dated October 29, 2024.
Golden Cariboo’s President and CEO, Frank Callaghan, stated “To be met with a 452 m gold zone in our
first step out from the Discovery is incredible. We’re dealing with a multi-kilometer gold system that is
capable of producing zones of significant scale, located only a handful of kilometres from a community,
rail and major highway. We have only scratched the surface of this property and of the Halo zone, which
is soon to change with our aggressive drill program currently underway.”
Table 1: Reported gold intercepts for QGQ24-17
Drill hole From
(m)
To
(m)
Interval
(m)*
Au g/t Au g/t
(capped^)
Interval
(ft)*
QGQ24-17 10.97 463.48 452.51 0.30 0.28 1484.6
including 22.45 70.51 48.06 0.65 0.65 157.7
which includes 22.45 49.77 27.32 1.01 1.01 89.6
including 279.91 345.00 65.09 0.81 0.67 213.6
which includes 293.74 345.00 51.26 1.00 0.82 168.2
also including 326.52 345.00 18.48 2.17 1.67 60.6
also including 326.52 330.00 3.48 7.01 4.35 11.4
including 418.48 443.28 24.80 0.50 0.50 81.4
* Interval widths reported at this point have insufficient data to reliably estimate true width.
^ Gold grades have been capped at 10 g/t (“grams per tonne”).
Figure 1: Map of drill holes and reported gold intercepts in the Halo zone
Figure 2: Cross section of QGQ24-17 from this News Release. The bottom of the reported intersection
at 443.28 m depth represents 324.0 m vertical depth below surface.
Figure 3: Total Magnetic Intensity map displaying the northwest-trending geologic and mineral system.
The Halo zone is open in all directions and remains to be tested northwest towards the Pioneer Minfile.
Also note the North Hixon zone represents a parallel trend to the Main zone, untested to the southeast.
Figure 4: Core photo of QGQ24-17 from 334.77 m to 346.47 m depth, consisting of bleaching-altered
andesitic volcanics with quartz-carbonate-pyrite veins.
Figure 5: Satellite map displaying the Quesnelle Quartz Mine, the Halo Discovery and local infrastructure
QA/QC samples including blanks, standards and coarse reject duplicates constitute 5% of the total
number of samples.
The shipments were sent to the ALS laboratory in North Vancouver (accredited) for laboratory analysis.
Samples in hole QGQ24-13 (and going forward) had a change in assaying method to mitigate potential
nugget effect. Assays were crushed by ALS to >70% passing below 2 mm and split using a riffle splitter
and 1 kg splits were pulverized to >85% passing below 75 microns. An aqua regia digest with an
inductively coupled plasma atomic emission spectroscopy (ICP -AES) finish was used for 36- element
analysis on 0.5 g aliquots. All samples were analyzed for gold content by fire assay with an inductively
coupled plasma atomic emission spectroscopy (ICP-AES) finish on 50 g aliquots. Any sample returning
>10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 50 g sample (ALS code: Au -
GRA21). Additionally select samples have been chosen for metallic screening. For metallic screening, a
1 kg pulp was screened to 100 microns. The entire oversize fraction and duplicate 50 g assays on the
undersize fraction were completed.
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 Ru sh 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 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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Cautionary Statements:
This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding
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