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Golden Cariboo Acquires Claims Within the Area of Osisko Development's Cariboo Gold Project and Announces $500,000 Private Placement
(TheNewswire) March 3, 2023 – TheNewswire - Vancouver, Canada – Golde...
About this update from Golden Cariboo Resources Ltd.
[{"type":"text","content":"Golden Cariboo Acquires Claims Within the Area of Osisko Development's Cariboo Gold Project and Announces $500,000 Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n March 3, 2023 – TheNewswire -\n \n \n Vancouver, Canada –\n \n \n Golden Cariboo\nResources Ltd. (the “Company”) (TSXV:GCC) is pleased to announce\nthe acquisition of the RM1, Rainbow and YES properties, within the\ncentral area of Osisko Development’s Cariboo Gold Project and\napproximately 2.5km from the planned mill site of their proposed 164k\noz/yr Cariboo gold mine. An additional acquisition of the Rimrock\nproperty was made approximately 25km Osisko’s proposed mine\nbordering their claims.\n \n \n \n \n The 104.5-hectare Rainbow Property is being acquired\nfor a cash payment of $25,000 and the issuance of 200,000 shares. The\nproperty is situated beside the RM1 and YES properties resulting in\none contiguous claim group. Rainbow consists of 5 legacy claims,\noriginally staked between 1937 and 1945 and is located on Valley\nMountain, 2km west of Wells BC in the Snowshoe Group of the\nBarkerville Terrain. 4WD access is available within the claim group\nand directly to an adit located to the northwest end of the\nproperty. The adit was drifted in 1937 for 37 meters along gold\nbearing quartz veins with widths ranging from 50 to 150cm\n(ARIS19815).\n \n \n \n \n The 19.4-hectare RM1 Property is being acquired for a\ncash payment of $5,000 cash and the issuance of 50,000 shares. The RM1\nclaim is located about 1.5km from Wells at the northwest flank of\nValley Mountain and on the eastern side of Downey Pass. 4WD access is\navailable to the claim on an existing trail which goes on further to\naccess the adit of the Rainbow claim group.\n \n \n \n \n The 58.2 hectare YES Property is being acquired via a\ncash payment of $6,000. This claim group partly overlies the Rainbow\nLegacy claim and the southwest corner overlaps the Heritage Branch\nsite reserve. Access is open for year-round motorized recreational\naccess which could be utilized to access the southwest side of the\nclaim by quad or by foot. Access to the northeast portion of the\nproperty can be accessed by an existing trail. Located within 1.5km of\nWells, BC and within the Snowshoe Group of the Barkerville Terrane,\n...