Multiple Broad Intercepts of Replacement Gold Mineralization Intersected in Drill Hole QGQ23-04
GOLDEN CARIBOO RESOURCES L TD.
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
Multiple Broad Intercepts of Replacement Gold Mineralization
Intersected in Drill Hole QGQ23-04
April 30, 2024
Vancouver, Canada – Golden Cariboo Resources Ltd. ( “GCC” or the “Company”) (CSE-GCC,
OTC-GCCFF, WKN-A0RLEP) is pleased to announce the receipt of the remaining assay results
from QGQ23-04 at its Quesnelle Gold Quartz Mine property (the “Project”) near Hixon, British
Columbia.
Surface drill hole QGQ23-04, previously referred to as QGQ23-01, was reported as containing
several gold (“Au”) intercepts with additional results pending (January 18, 2024 News Release).
The upper portion of QGQ23-04 intersected a broad zone of replacement mineralization, which
returned 4.65 g/t Au over 7.15m (23.5 ft) and 1.12 g/t Au over 18.7m (61.4 ft), below the probable
historical Koch Vein. Of significant interest is that the entire interval, including the inter vening
0.08 g/t Au interval over 1 5.15m ( 49.7 ft), grades 1.35 g/t Au over 41.0m (1 34.5 ft). This
represents a significant increase in size and tenor up-dip and to the south of the 0.69 g/t Au over
22.3m (73.2 ft) intercept obtained in QGQ22-02 (April 25, 2023 News Release).
Recent results from the remaining assays for the lower 129.85m (426 ft) of QGQ23 -04 have
identified additional replacement mineralization returning 2.77 g/t Au over 6.25m (20.5 ft) and
2.96 g/t Au over 0.65m (2.1 ft). Mineralization is observed both in quartz-carbonate-pyrite veining
and in variably sericitic altered metamorphosed fine clastic sedimentary rocks, which lie proximal
to the greenstone contact and a lamprophyre dyke. The mineralization is open in all directions.
Significant gold results are tabulated below and are associated with anomalous arsenic.
Hole No. From (m) To (m) Interval
(m)
Interval
(ft) Au (g/t)
results
reported
previously
QGQ 23-04 88.5 95.65 7.15 23.5 4.65
including 88.5 90.4 1.9 6.2 11.65
intervening interval 95.65 110.8 15.15 49.7 0.08
and 110.8 129.5 18.7 61.4 1.12
including 115.3 116.4 1.1 3.6 5.38
and including 120.75 122.1 1.35 4.4 4.87
new
results
QGQ 23-04 164.15 170.4 6.25 20.5 2.77
including 166.3 170.4 4.1 13.5 3.85
including 169.4 170.4 1.0 3.3 12.0
and 173.45 174.1 0.65 2.1 2.96
intervals represent down hole lengths since true widths cannot be determined
Weighted average from 88.5 to 129.5m is 1.35 g/t Au over 41.0m (134.5 ft).
Drilling continues to demonstrate the existence of multiple bodies of previously overlooked
replacement-style mineralization beyond the original mine workings, in addition to the historically
targeted high grade gold-bearing veins found throughout the Project area.
Drilling is ongoing to target the lateral and vertical extensions of the replacement mineralization,
adjoining the greenstone -phyllite contact , towards the Halo zone (23-May18 News Release )
where similar mineralization was discovered by trenching in 2022, approximately 800m (2625 ft)
northwest along strike of the current drilling on the Main Zone . 3 D geological modelling of
historical and new exploration data is in progress.
The technical inf ormation 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 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: 604-682-2928
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
the plans, intentions, beliefs and current expectations of the Company with respect to fut ure business activities and plans of the Company. Forward -looking
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working capital; the Company’s exploration plans with respect to its Quesnelle Gold Quartz Mine property; and 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, o r 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 its e xploration plans; that the Company will
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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
unable to use the proceeds for property exploration an d for general working capital; that the Company may incur unanticipated costs; that the Company may not
have the resources required to pursue its exploration plans; that the Company’s operations could be adversely affected by pos sible future government leg islation
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
amount currently expected by management, or at all; and that the Company may not be able to rely on the exemption from the formal valuation and minority
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