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Golden Cariboo Acquires District Lot Adjacent to the Historic Quesnelle Quartz Mine
(TheNewswire) November 12, 2024 – TheNewswire - Vancouver, Canada – G...
About this update from Golden Cariboo Resources Ltd.
[{"type":"text","content":"Golden Cariboo Acquires District Lot Adjacent to the Historic Quesnelle Quartz Mine\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n November 12, 2024 –\n \n\n TheNewswire\n-\n \n\n Vancouver, Canada – Golden Cariboo Resources\nLtd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ)\nwishes to announce the acquisition of the Washburn Lateral District\nLot on the Company’s mineral claims. The Washburn Lateral is a 20.0\nha claim immediately northeast from the historic Quesnelle Quartz Mine\n(see Figures 1 and 2 enclosed) and contains the undersurface mineral\nrights to the claim area. The collar for the discovery hole QGQ24-08\nin the North Hixon zone returning 0.29 g/t Au over 263.10 m (\n \n\n\n see Company news release dated June 18\n2024\n \n\n\n ) lies approximately 43 m northwest of\nthe boundary of the Washburn Lateral.\n \n\n\n\n The District Lot was originally located in 1913 and\nonce owned by the Quesnelle Quartz Mining Company Ltd. Despite its\nproximity to the historic Quesnelle Quartz Mine, the lot has seen very\nlimited exploration in its history and has remained virtually untested\nby drilling. A possible lone drill hole on the lot appears to have\nbeen drilled in 1972 on the southern corner and totaled 91.44 m,\nintersecting younger, post mineral cover rocks (see Figure 2).\n \n\n\n\n Golden Cariboo’s President and CEO Frank Callaghan\nstated: “Acquiring the Washburn Lateral is an important milestone\nfor the Company, providing us with a key parcel of land within our\nmulti-kilometer gold trend on our Property. With this District Lot now\nin hand, the Company is able to test our gold trend to the southeast\nfrom our discovery made in the North Hixon zone earlier this\nyear.”\n \n\n\n\n\n\n\n\n\n Figure 1: Historic map (1933) of District Lots and gold\nmineralized trends near the Washburn Lateral (top centre, bolded) and\nthe Quesnelle Quartz Mine\n \n\n\n\n\n\n\n\n Click Image To View Full Size\n \n\n\n\n Figure 2: Map containing the Washburn Lateral and\nProperty drill traces with previously reported gold intervals\n \n\n\n\n The Washburn Lateral District Lot is being acquired for\na cash payment of\n \n\n €\n \n\n 10,000EUR and 200,000 Company shares at a price of C$0.20, in\na sales agreement dated October 18, 2024, subject to appro...