Intercept of 0.58 g/tonne Gold Over 61.40m (201 feet) on North Hixon Zone with Additional Gold Mineralization Above and Below at the Quesnelle Gold Quartz Mine Property
GOLDEN CARIBOO RESOURCES LTD.
804 –750 WEST PENDER STREET
VANCOUVER, B.C. CANADA V6C 2T7
TELEPHONE: 604-682-2928
FAX: 604-685-6905
GOLDENCARIBOO.com
CSE Stock Symbol GCC
Intercept of 0.58 g/tonne Gold Over 61.40m (201 feet) on North Hixon Zone with
Additional Gold Mineralization Above and Below at the Quesnelle Gold Quartz Mine
Property
June 11, 2024
Vancouver, Canada – Golden Cariboo Resources Ltd. (the “ Company”) (CSE:GCC) (OTC:GCCFF)
(WKN:A042CQ) (FSE:3TZ) is pleased to announce it has intercepted gold mineralization in QGQ24-08
QGQ24-07 and QGQ24-05 at both the North Hixon and the Main zones on its Quesnelle Gold Quartz
Mine Property (the “Property”) near Hixon, British Columbia.
Initial results from the first 265.34m (871 ft) of QGQ24-08 (final depth of 712.01m or 2,336 ft) successfully
intersected the up-dip extent of mineralization which tested the Company’s 2019 discovery of
metasedimentary-hosted mineralization in float at the North Hixon zone. QGQ22-01 yielded 0.87 grams
per tonne (“g/t”) gold (0.57g/t cut) over 32.0m (105 ft), open down hole (See May 7, 2024 Press Release).
QGQ24-08 has returned 0.58 g/t gold over 61.40m (201.40 ft) with assays variable through the zone and
reflect fault, replacement and vein styles of mineralization. True width intercepts are not definitely known
since the orientation and controls are not fully understood due to the scarcity of outcrop on the Property.
There is an association with carbonate alteration which is reflected in assays. Significant gold results are
tabulated below, with complete results pending. Additional narrow zones of gold mineralization were also
intersected.
QGQ22-08 Results
FROM (m) TO (m) INTERVAL (m) Au (g/tonne)
129.55 133.00 3.45 0.867
and 179.00 240.05 61.40 0.58
including 180.00 182.33 2.33 2.26
and including 181.15 181.66 0.51 5.79
including 195.00 196.00 1.00 8.26
including 192.5 211.25 18.75 0.83
including 218.73 221.00 2.67 2.77
including 237.95 240.40 2.45 3.06
True widths are not yet known.
Holes QGQ24-05 to -07 were drilled on the Main zone. QGQ24-05 targeted a suspected F2 fold closure
to the northwest of the intercept in QGQ23-04 which yielded 1.35 g/t Au over 41.0m (134.5 ft). QGQ24-
05, drilled to 321.60m, yielded a number of greater than 1 g/t gold intercepts over narrow down hole
intervals (0.4-1.4 g/t gold) and is thought to have been drilled completely in the hanging wall of the
mineralized zone. QGQ24 -06 was terminated at a depth of 172.20 with no significant results due to
difficulty in recovering the fault hosted mineralized zone, similar to the top of the zone in QGQ23-04, and
hole QGQ24-07 was lost at 56.65m.
3D geological modelling is in progress and structural geologist, Dr. Sarah E. Palmer, PhD, has been on
site to aid in the analysis. Ms. Palmer identified three phases of folding which is consistent with the
suspected model for mineralization on the Property, which is epizonal orogenic, also recently described
as continental margin sediment-hosted gold and previously known as turbidite-hosted gold and saddle
reefs. Examples of such deposits include the Cariboo Gold deposit in Wells-Barkerville, British Columbia,
the Spanish Mountain property near Likely, Nova Scotia’s Meguma district, Newfoundland’s Queensway
Project, Australia’s Bendigo district, and Uzbekistan’s large Muruntau deposit. The deposits discussed
above are not necessarily indicative of the Quesnelle Gold Quartz Mine Property.
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 Rush 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 Property 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: 604-551-7685
Scott Young, Corporate Development
Tel: 705-888-2756
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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working capital; the Company’s exploration plans with respect to its Quesnelle Gold Quartz Mine property; an d the anticipated participation of the insider in the
Offering.
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exemptions and approvals to complete the Offering; that the Company will complete the Offering on the terms disclosed, or at all; that the proceeds will be used for
property exploration and for general working capital; that the Company will have the resources required to proceed with it s exploration plans; that the Company will
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currently expected by management; and that the Company will be able to rely on the exemption from the formal valuation and minority shareholder approval
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exemptions and approvals to complete the Offering; that the Company will not complete the Offering on the terms disclosed, or at all; that the Company will be
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have the resources required to pursue its exploration plans; that the Company’s operations could be adversely affected by possible future government legislation
policies and controls or by changes in applicable laws and regulations; that the insider may not participate in the Offering on the terms and conditions and in the
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