(TheNewswire)
December 3, 2024 – TheNewswire – Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) wishes to announce further results from outcrop sampling during the 2024 field campaign, subsequent to results announced in a News Release dated November 5, 2024 and can be viewed on the Company website at www.goldencariboo.com.
Outcrop uncovered at the Halo zone during the Fall field campaign which returned values up to 8.47 g/t gold in grab samples (see November 5, 2024 News Release), was revisited to collect more representative samples. Three panel samples were collected with a highlight of 5.15 g/t gold over a 1 x 1 m area across the exposed outcrop (see Figures 3 and 4 enclosed).
Additionally, a grab sample collected on the Washburn Lateral claim returned 1.27 g/t gold in an area untested by drilling, 137 m southeast of the QGQ24-08 drill collar (see Figures 1, 2 and 5 enclosed). The sample consists of altered andesitic volcaniclastics containing quartz-carbonate-pyrite veining as commonly seen in the Main, Halo and North Hixon zones (Figures 1 and 2 enclosed). This suggests southeastern continuity of the North Hixon zone onto the newly acquired Washburn Lateral claim (see November 12, 2024 News Release), on a parallel trend from the Main zone (Quesnelle Quartz Mine).
Golden Cariboo’s President and CEO, Frank Callaghan, stated “This year’s field campaign was highly successful in extending the surface footprint of our multi-kilometer gold system. These results further suggest that significant potential remains on the Property yet to be tested with the drill bit, including the southeastern extension of the North Hixon zone which remains a high priority target for the Company.”
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Figure 1 (top): Specimen of a carbonate-quartz-pyrite vein in altered andesitic volcaniclastics on the Washburn Lateral, in a sample returning 1.27 g/t Au. Figure 2 (bottom): Specimen of a characteristic two-phased quartz-carbonate-pyrite vein, containing a coarse crystalline carbonate margin and inner quartz component, recognized to host gold (including visible gold) in the Halo and North Hixon zones.
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Figure 3: Panel samples in the Halo zone, which returned values of 0.28 g/t Au over a 0.5 x 0.5 m area, 0.27 g/t Au over a 0.4 x 0.3 m area, and 5.15 g/t Au over a 1 x 1 m area.
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Figure 4: Panel sample in the Halo zone which returned 5.15 g/t Au over a 1 x 1 m area
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Figure 5: Map of current drilling and outcrop sampling highlights in the Halo and North Hixon zones
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 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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Neither the “CSE” Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 future business activities and plans of the Company. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding; the expectation that the Company will receive all necessary exemptions and approvals to complete the Offering; the expectation that the Company will complete the Offering on the terms disclosed, or at all; the expectation that the proceeds will be used for property exploration and for general 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.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will receive all necessary 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 its exploration plans; that the Company will not run into regulatory or other barriers in carrying out its business plans; that the insider will participate in the Offering, on the terms and conditions and in the amount currently expected by management; and that the Company will be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis anticipated.
Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not receive the necessary 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 and 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 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 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 shareholder approval requirements on the basis currently expected. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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