Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) announced Tuesday the acquisition of a 5.36-acre property in Hixon, British Columbia, for $300,000 CAD. The freehold fee simple purchase, with direct access to Highway 97, includes a $50,000 non-refundable deposit, with the remaining $250,000 due by October 30, 2026. The company plans to establish an Atco 5 Unit Skid-Mounted Mobile Camp on the site to support exploration at its nearby Quesnelle Gold Quartz Mine Property.
The Quesnelle Gold Quartz Mine property, located 4 kilometers northeast of Hixon in central British Columbia, encompasses a 94,889-hectare area along a favorable corridor adjacent to the Spanish and Eureka thrust faults. The property includes the Quesnelle Quartz gold-silver deposit, discovered in 1865. Historically, over 101 placer gold creeks on the 90-kilometer trend from the Cariboo Hudson mine north to the property have recorded production.
In addition to the camp acquisition, Golden Cariboo provided a drilling update. Hole QGQ26-30 was completed to a depth of approximately 402 meters (1,319 feet), targeting the western contact of the Halo zone from the same pad as QGQ26-29. The hole ended in favourably altered volcanics about 235 meters horizontal distance west of its collar. Core logging is currently in progress. A new hole, QGQ26-31, commenced drilling this week approximately 70 meters north of QGQ26-30, also targeting the western contact of the Halo zone.
The Quesnelle Gold Quartz Mine property is bordered by Osisko Development and partly intertwined with the Cariboo Gold Project. The geological setting shows strong similarities with the Spanish Mountain gold deposit, located 120 kilometers southeast along the same trend. Spanish Mountain is a sediment-hosted vein (SHV) deposit, belonging to the epizonal orogenic subclass, which includes world-class deposits such as Muruntau in Uzbekistan and Bendigo in Australia.
Golden Cariboo is focused on rediscovering the Cariboo Gold Rush through targeted drilling and trenching programs. The company's President and CEO, J. Frank Callaghan, stated that the camp property purchase and ongoing drilling are key steps in advancing the project.
