Mining Company Prepares Comprehensive Gold Report in British Columbia

Source: Streetwise Reports 03/26/2025

Golden Cariboo Resources Ltd. (GCC:CSE; GCCFF:OTC; A0RLEP:WKN; 3TZ:FSE) is preparing an assessment report for all exploration activities between fall of 2022 through the end of 2024 at its Quesnelle Gold-Quartz Mine in British Columbia. Read about the major discoveries the company is making at the project.

Golden Cariboo Resources Ltd. (GCC:CSE; GCCFF:OTC; A0RLEP:WKN; 3TZ:FSE) announced it is preparing an assessment report for all exploration activities between the fall of 2022 through the end of 2024 at its Quesnelle Gold-Quartz Mine in British Columbia.

The company said in a release that its geologists were working diligently to complete the validation of all surface and drill hole data in preparation to file an exploration and development work report on the property, including on the most recently staked 90,989-hectare (ha) mineral claim group.

“Preparations are in progress to commence the drill program, which was anticipated to begin earlier in the year,” the release said. “With maintenance of heavy equipment now completed and improvements to the offsite camp facilities also made, Golden Cariboo’s team are well prepared to commence the 2025 exploration program.”

Golden Cariboo said it will use the “powerful tool” of Micromine Origin software to integrate, validate and visualize the geological data presented in the report, and will also contribute to the company’s 2025 exploration program by delivering quality data that enhances targeting capabilities.

Allowable exploration and development work will be recorded in the BC Mineral Titles Online system in two transactions, the company said, one for the exploration conducted prior to the 2024 staking and the second for the balance of 2024 exploration conducted since staking. The related assessment report will be filed with the BC Mineral Titles Branch at that time.

‘Big News’ is Extent of Mineralization, Analyst Says

Last week, the company announced had identified two “significantly sized” gold in Mobile Metal Ion (MMI) soil anomalies north of the currently known extent of the Halo zone at Quesnelle.

Detailed analysis of the MMI soil data between Hixon Creek and Buckley Creek “has revealed gold anomalies that have been shown to correlate with known gold mineralization of the trenching and diamond drilling program,” geologist David Mark said in a release at the time. “This, therefore, shows that MMI is invaluable in outlining gold targets within the Quesnelle Gold Quartz Mine property. As such, it has revealed numerous gold anomalies throughout the MMI survey area that are new targets for future exploration.”

According to Technical Analyst Clive Maund, while “the grades found are good, the big news here is the extent of it.”

Mark said two of the strongest targets are “a gold anomaly within the northern part of the survey area at its eastern edge” and a gold-copper-silver anomalous zone in the northern end of the survey area. Golden Cariboo said it will expand trenching and drilling activities to target these two northerly zones of the property during the 2025 exploration season.

Earlier drilling results this year also significantly extended the Halo zone.

“Drill hole QGQ24-20 capped off a remarkable year, stepping out 100 meters and delivering another exceptional intercept that affirms the Halo zone as a major discovery in the Cariboo Gold District,” said Golden Cariboo President and Chief Executive Officer Frank Callaghan. “Greenstone contacts host many of the world’s premier gold camps, and we have now identified one only 4 kilometers from a major highway and community in central British Columbia.”

Drill hole QGQ24-20 intersected 0.71 grams per tonne gold (g/t Au) with 6.96 g/t silver (Ag) over 341.96 meters from 20.12 meters, including 0.99 g/t Au with 9.8 g/t Ag over 236.88 meters and 1.45 g/t Au with 16.05 g/t Ag over 137.17 meters, the company said. This included better grade intercepts returning 7.36 g/t Au with 164.95 g/t Ag over 11.95 meters and 16.35 g/t Au with 9.09 g/t Ag over 4.29 meters.

According to Technical Analyst Clive Maund, while “the grades found are good, the big news here is the extent of it.”

Drilling Untested Strike Remains High Priority

Golden Cariboo is rediscovering the Cariboo gold rush by proceeding with highly targeted drilling and trenching programs on its Quesnelle gold quartz mine property, which is bordered by Osisko Development Corp. and partly intertwined at the north end of the Cariboo gold project and located along a favorable corridor adjacent to the Spanish and Eureka thrust faults over a 94,889-hectare area. Historically, over 101 placer gold creeks on the 90-kilometer 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.

The company has said diamond drilling beyond the Halo zone along the several kilometers of untested strike on multiple parallel trends remains a high priority.

During its exploration, Golden Cariboo has found multiple occurrences of visible gold in its core results from the project.

“Visible gold in current drilling indicates potential for high-grade assays from mineralized targets,” Couloir Capital Senior Mining Analyst Ron Wortel wrote of the project in a recent research report as he assigned a Buy recommendation for the company’s stock, citing Golden Cariboo’s exploration initiatives as a unique opportunity for exposure to a gold resource discovery in a Tier 1 jurisdiction.

The Catalyst: Geopolitical Tension, Economic Uncertainty

Gold and other precious metals retreated from recent peaks this week, “as risk appetite improved on reports that (U.S. President Donald) Trump’s tariffs will be less severe than feared,” Ambar Warrick reported Tuesday for Investing.com. “But weakness in the dollar limited bigger losses in metal markets, keeping them close to recent highs.”

Spot gold rose 0.1% to US$3,015.51 an ounce, while gold futures expiring in May rose 0.1% to US$3,048.05/oz by 00:59 ET (04:59 GMT), Warrick wrote.[OWNERSHIP_CHART-11131]

“But the impact and scope of Trump’s policies still remained uncertain, keeping markets biased towards havens,” Warrick wrote. “Gold still traded above the coveted US$3,000/oz level, which it breached earlier in March.”

Geopolitical tensions and economic uncertainty are driving safe-haven flows to the yellow metal, pushing up gold prices, Garth Friesen wrote for Forbes on March 15.

“However, several other longer-term factors and trends will help determine whether the rally will be sustained,” he noted.

On March 11, according to Friesen, DoubleLine Chief Executive Officer Jeffrey Gundlach said, “I think gold will make it to US$4,000. I’m not sure that’ll happen this year, but I feel like that’s the measured move anticipated by the long consolidation at around US$1,800 on gold.”

Ownership and Share Structure

According to Golden Cariboo, management and insiders own 12.2% of the company, and President and Chief Executive Officer Frank Callaghan owns nearly 11%.

Retail investors hold the remaining. There are no institutional investors.

The company said it has 60.3 million shares outstanding, and its market cap is CA$8.41 million. Over the past 52 weeks, Golden Cariboo has traded between CA$0.11 and CA$0.36 per share.

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Important Disclosures:

1. Golden Cariboo Resources Ltd. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Golden Cariboo Resources Ltd.
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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( Companies Mentioned: GCC:CSE; GCCFF:OTC; A0RLEP:WKN;3TZ:FSE, )

Source: https://www.streetwisereports.com/article/2025/03/26/mining-company-prepares-comprehensive-gold-report-in-british-columbia.html