Golden Cariboo to Utilize Historic Data to Create 3D Model

April 24, 2024

Vancouver, Canada – Golden Cariboo Resources Ltd. (“GCC or the Company”) (CSE-GCC, OTC-GCCFF, WKN-A0RLEP) announced today that it has acquired Micromine 3D geological modelling software to support exploration activities at its Quesnelle Gold Quartz Mine project (“QGQ” project) near Hixon, BC.

The Company will utilize the Micromine 3D geological modelling software to model the property’s historic drillhole database, which dates back to the 1970s and totals over four kilometers of drilling, the majority of which being in the vicinity of the historic Quesnelle Quartz Mine. The modelling of the drillhole database will enhance the company’s geological understanding of the property, providing new insights into styles of mineralization and their geologic controls. It is expected to unlock further targets to test in the Company’s active drill program.

Company President and CEO, Mr. J. Frank Callaghan commented “Creating a geological model is an important step in defining the prospects of the QGQ project. Incorporating historic data will allow the Company to design an efficient drill program, the objective being to provide a maiden mineral resource on our past producing gold mining property.

Mr. Callaghan commented further, stating “We acquired the QGQ project because of its past production, the presence of a greenstone contact, and its potential to host similar mineralization found at the nearby Bonanza Ledge Mine, which our team initially discovered, developed and put into production at Osisko Development’s Cariboo Gold Project. After Golden Cariboo’s team commenced production at the Bonanza Ledge Mine and further developed the Cariboo Gold Project, it was ultimately acquired by Osisko Royalties for $330 million, and now owned and operated by Osisko Development. We see a similar chance to replicate our success at the QGQ project and firmly believe in the principle that you make a mine, you don’t find one.”

Further to Company news released on April 9, 2024, announcing the engagement of marketing service providers, terms of the agreements are as follows:

Global One Media, Suite 1500, 1155 Metcalfe Street, Montreal, QC H3B 2V6

(514) 695-0351, bastien@globalonemedia.com

  • Cost of services is CDN$5000 per month for a 12-month term, with an option to cancel after 6 months
  • start date of April 09, 2024

 

GoldInvest Consulting GmbH, Rothenbaumchaussee 185, 20149 Hamburg, Germany

+49 40 44 195 195, Redaktion@goldinvest.de

  • Cost of services is CDN $3000 per month payable in quarterly instalments in advance for a 12-month term
  • start date of April 09, 2024

 

Arne Lutsch, Rütliweg 2, 8849 Alpthal, Switzerland

+41 44 832 6150, info@arne-lutsch.com

  • Cost of services is CDN $3000 per month payable in quarterly instalments in advance for a 12-month term
  • start date of April 09, 2024

 

 

About Golden Cariboo Resources Ltd.

 

Golden Cariboo Resources Ltd. is rediscovering the Cariboo Gold Rush by proceeding with high-grade targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine Project 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 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 Quesnelle Gold Quartz Mine property, is a placer creek which has seen small-scale placer production since the mid 1860’s.

 

For further information please contact:

 

GOLDEN CARIBOO RESOURCES LTD

“J. Frank Callaghan”                                            

 

  1. Frank Callaghan, President & CEO

Tel:  604-682-2928

 

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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