Golden Cariboo Resources Ltd. is on the verge of a significant milestone as independent consultants finalize the company's inaugural Mineral Resource Estimate (MRE) for the Quesnelle Gold Quartz Mine property, located 4 kilometers northeast of Hixon, British Columbia. The MRE will provide the first formal quantification of gold mineralization identified through the company's drilling and exploration programs, incorporating historical data. Pending the receipt of the independent NI 43-101 technical report, the company anticipates releasing the completed estimate, which will mark a critical juncture in the project's advancement.
"This is an exciting time for Golden Cariboo, our shareholders and the region," stated Frank Callaghan, President and CEO. "Every drill hole, every assay result and every geological breakthrough has expanded our understanding of the Halo, North Hixon and Main zones. We are now approaching the point where all of that work will be consolidated into a single independent resource model, providing the first comprehensive technical snapshot of the project and our first step towards the next phase of development."
The Quesnelle Gold Quartz Mine property is strategically located along a favorable geological corridor adjacent to the Spanish and Eureka thrust faults, covering a vast 94,899-hectare area. Historically, over 101 placer gold creeks on the 90-kilometer trend from the Cariboo Hudson mine to the property have recorded production, with successful placer mining continuing today. The property itself includes the Quesnelle Quartz gold-silver deposit, discovered in 1865 and developed over a footprint of approximately 150 meters by 150 meters at the Main zone, which straddles Hixon Creek.
The geological setting of the gold mineralization at the property shows strong similarities with the Spanish Mountain gold deposit, situated 120 kilometers to the southeast along the same trend. As a sediment-hosted vein (SHV) deposit, Spanish Mountain is considered an epizonal orogenic gold deposit, a class that includes some of the world's largest deposits such as Muruntau in Uzbekistan and Bendigo in Australia. This comparison underscores the potential significance of the Quesnelle property.
The completion of the MRE is expected to provide stakeholders with a clearer understanding of the project's economic potential and will serve as a foundation for future exploration and development decisions. As the company approaches this milestone, the results will not only validate years of exploration but also position Golden Cariboo for the next phase of growth.
For more information about Golden Cariboo Resources Ltd., visit their website at www.goldencariboo.com.
