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POTENTIAL TAKEOVER ALERT:
Little-Known North American Gold Exploration Company Offers Intriguing High Upside Potential
Golden Cariboo Resources (CSE:GCC);(OTC:GCCFF);(WKN:A402CQ);(FSE:3TZ) could be a fast-mover as the company appears to be in the right location …at the right time… with the right team in place
For those investors looking for upside in the junior gold exploration space, one under-the-radar company appears to have the potential to move quickly.
Golden Cariboo Resources (CSE:GCC);(OTC:GCCFF);(WKN:A402CQ);(FSE:3TZ) is targeting a potential multimillion-ounce gold resource in a region with a 160-year mining and exploration history.
Breaking News: Golden Cariboo Intercepts 0.29 g/t Gold over 263.10m (863.2 ft), Including New Zone of 0.68 g/t Gold over 41.85m (137.3 ft) in QGQ24-08
June 18, 2024 – Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A042CQ) (FSE:3TZ) is pleased to announce additional encouraging results from hole QGQ24-08 (See June 11, 2024 News Release) at the North Hixon zone on its Quesnelle Gold Quartz Mine Property (the “Property”) near Hixon, British Columbia.
For more information, click here.
But that’s only part of the story.
This is a unique, high-upside investment opportunity that is very much driven by location and management.
That’s because Golden Cariboo Resources’ Quesnelle Gold Quartz Mine Property – which has been consolidated by Golden Cariboo’s team over the last five years – has a history of production dating all the way back to 1866.
And it’s right next door to the proposed 220k oz gold per year for 3 years Cariboo Gold mine owned by Barkerville Gold Mines Ltd., a wholly owned subidary of Osisko Development Corp. (TSXV:ODV); (NYSE:ODV), which is targeted to move into production this year.
The team leading Golden Cariboo Resources is part of the team that originally discovered and developed the Bonanza Ledge Mine at the Cariboo Gold Project, which includes the Cariboo Gold Mine.
And now that team is using the same exploration model—and knowledge of the region’s geology—to drive success yet again with Golden Cariboo Resources (CSE:GCC);(OTC:GCCFF);(WKN:A402CQ);(FSE:3TZ).
5 Critical Reasons Why Golden Cariboo Resources Looks to Be One of the World’s Most Attractive Junior Gold Exploration Opportunities
Critical Reason #1: Golden Cariboo Resources’ flagship property has extraordinary potential.
The company’s Quesnelle Gold Quartz Mine Property has a history of production as well as high-grade potential targets, and is encircled by Osisko Development Corp. — a CDN $225 million market-cap mining company.
The property is located 4 kilometers northeast of Hixon, in central British Columbia, and is accessible year-round by road.
The property includes the Quesnel Quartz gold-silver deposit, discovered in 1865 in conjunction with placer mining activities. In 1932 and 1939, it produced 2,048 tonnes grading 3.14 g/t Au and 4.18 g/t Ag, with an additional 217 tonnes of unknown grade reported in 1878.
Hixon Creek, which dissects the Quesnelle Gold Quartz Mine property, is a placer creek that has seen limited, small-scale placer production since the mid-1860s. From Ministry of Mines Reports before 1945, estimates of up to $2,000,000 worth of placer gold were mined from Hixon Creek.
The deposit model for the property is the orogenic type, consisting of gold bearing quartz veins and quartz-carbonate-pyrite replacement style mineralization such as at Osisko Development’s Cariboo Gold Project, centered 75 km to the southeast of the property.
Diamond Drilling
- Phase 1 drill program consisting of 3 holes completed in winter 2023 (complete)
- Phase 2, 2500-5000m drill program expected to commence in spring 2024 Trenching
Trenching
- Excavator trenching along strike to the northwest of the Main and East zones and at the North Hixon showing due to potential and shallower overburden cover and possibly at the Cayenne and Pioneer showings depending on an initial evaluation
Mapping
- Differential GPS survey of the trenches and pits, old workings and infrastructure that were uncovered during the 2019-2022 exploration programs
- Detailed mapping and sampling of the property, including the Pioneer mine and Cayenne showings, the North Hixon zone and the Morrison-Hercules adit areas,
- Ground truthing of specific features from the LiDAR survey that require verification or confirmation
The NI 43-101 compliant resource for the Cariboo Gold Project includes 21.4 million tonnes grading 4.6 g/t Au in the measured and indicated resource category, and 21.6 million tonnes grading 3.9 g/t Au in the inferred resource category, using a cut-off grade of 2.1 g/t Au (Beausoleil and Pelletier, 2020).
NOTE: The resource information is not necessarily indicative of the mineralization on the Quesnelle Gold Quartz Mine Property
Historical exploration work on the Quesnelle Gold Quartz Mine Property has included:
- approximately 1250m of early underground development; prospecting, mapping and sampling,
- a LiDAR and orthoimagery survey over the entire property in 2018,
- a recent airborne magnetic and electromagnetic survey on adjacent ground which overlaps the Property area, and
- 2863m of diamond drilling in 22 holes, much of which was completed prior to 1989.
- Historical diamond drill results include: 5.72 g/t Au, 20.6 g/t Ag over 1.5m in DDH 83-1 and 6.75 g/t Au and 54.5 g/t Ag over 3m from DDH 07-1 from the Main zone and; 5.2 g/t Au over 2.75m in DDH 88-5 and 11.8 g/t Au and 12.9 g/t Ag over 1.5m in DDH 07-3 from the East zone.
Exploration activities by Golden Cariboo from 2019 to end of 2022 include about 985m3 of excavation in 46 trenches and pits, a 268m NQ diamond drill hole at the North Hixon zone, which targeted 9.8 g/t Au from local float, two NQ diamond drill holes totaling 466m at the Main Zone targeting the greenstone-schist contact and adjacent mineralization, bedrock mapping and sampling as well as trail construction and maintenance. One NQ diamond drill hole was completed in June 2023 which targeted the southern extension of new mineralization zones discovered on the west side of the contact at the Main Zone, beyond the historical mine workings which typically stayed to the east side of the contact and did not appear to target the gold bearing unit on the west side of the contact.
Watch this three-minute video to hear CEO Frank Callaghan discuss the company’s plans for 2024, its most recent private placement, gold’s current price of above $2100 per Ounce, and why its gold project is so interesting.
Critical Reason #2: Golden Cariboo Resources (CSE:GCC);(OTC:GCCFF);(WKN:A402CQ);(FSE:3TZ) is led by the same team that drove exploration success right next door.
In many cases, the company’s leadership is the primary driving factor in success in the junior resource exploration space.
When evaluating any opportunity, you have to ask one important question: Do the people leading this team know what they’re doing?
In the case of Golden Cariboo Resources, the answer is not only “yes” – it’s also one of the company’s most impressive assets.
That’s because the Golden Cariboo Resources team is intimately familiar with the geology in this region, having led the development of the neighboring Golden Cariboo Gold Project which was subsequently acquired by Osisko Development Corp.
That experience led to significant discovery in the early 2000’s, small scale production in the 2010’s and ultimately what will become a producing gold mine yielding 220k oz gold per year for 3 years.
And now that same potential opportunity – in the same rocks – is presenting itself again.
What this successful team was able to accomplish in the early 2000’s and into the 2010’s – that those 1860’s miners were never able to achieve – was for the first time in 150 years, assemble a land package under one company’s ownership allowing for large-scale development and production.
And now they stand poised to leverage that experience and do it again, which is one reason why investors are beginning to take note of this high-upside opportunity.
Critical Reason #3: Location, location, location – the Quesnelle Gold Quartz Mine Property is in an ideal spot.
The Quesnelle Gold Quartz Mine Property has the potential for a multimillion-ounce gold resource that is in an exceptional location.
The property is a 100% owned, 3,814 hectare property covering a 10 kilometer east-west and 10 kilometer north-south trend within the historic Cariboo Mining District in British Columbia.
As mentioned earlier, the property is contiguous to the Cariboo Gold Project, including the Cariboo Gold Mine, which is slated to begin production this year.
The Quesnelle Gold Quartz Mine Property was one of the first underground mines in production in British Columbia back in 1866.
The property’s geology is in many ways analogous to the Abitibi Gold Belt, stretching from Wawa, Ontario to Val-d’Or Quebec, which has produced over 220 million ounces of gold.
NOTE: The production information is not necessarily indicative of the mineralization on the Quesnelle Gold Quartz Mine Property
And the company’s recent activity on the property has been especially encouraging. Here’s a brief look:
Highlights from the 2019 trenching program include:
- 5 g/t Au and 61.5 g/t Ag over the 0.6m wide accessible portion of the 1.75m wide Koch vein and 1.94 g/t Au over 0.5m from the footwall,9 g/t Au with >100 g/t Ag from a grab of pyritic Koch vein boulders,
- 2 g/t Au and 25.3 g/t Ag as an average from 3 grab samples of quartz vein boulders at the Main shaft
- 2 g/t Au, with 10.1 g/t Ag over 0.4m and 7.65 g/t Au over 1.7m from Main shaft area.
Results from the 2022 trenching and drilling program include:
- The North Hixon zone was extended 100m to the southwest
- grab samples of mineralized greenstone-listwanite returned 0.76 g/t and 0.52 g/t gold
- silicified greenstone ran 1.31 g/t gold, and a mineralized quartz vein yielded 1.02 g/t gold
- 78 g/t gold across 0.25m from silicified greenstone
- A new showing, the Halo, zone, was discovered 800m northwest of the Main zone
- grab samples of clay-altered phyllite returned 5.08, 2.97, and 1.01 g/t gold with 2.23 g/t gold from a sheared fault zone and 1.63 and 0.88 g/t gold from sericitic, fuchsite-rich phyllite
- one channel sample returned 0.45 g/t gold over 1m from clay-sericite altered phyllite
- Drilling at the North Hixon zone highlighted 0.87 g/t gold (0.57g/t cut) over 32.0m (105 ft) from QGQ22-01, including a high grade value of 29.2 g/t gold over 0.5m (1.6 ft), from a fault zone, which, when capped at 10 g/t gold to moderate the nugget effect of gold, results in 4.04 g/t gold (1.73 g/t cut) over 4.15m (13.6 ft) from the fault zone, followed by elevated to significant grades within pyritic, replacement style mineralization hosted by the phyllitic metasedimentary rocks, similar to those encountered in the Main zone.
- Drilling at the Main zone, located about 800m southeast of the North Hixon zone, returned 4.76 g/t gold over 4.7m and 0.69 g/t gold over 22.3m in QGQ22-02.
- QGQ22-03 was also drilled at the Main zone and showed that mineralized zone diverged to the north, returning two separate intervals of 2.61 g/t Au over 1.85m and 0.97 g/t Au over 1.55m and with a lower interval of 0.98 g/t Au over 2.55m.
The 2023 exploration drilling program revealed considerable results:
- Drill hole QGQ23-04, previously referred to as QGQ23-01, of the Main zone was reported as containing several gold intercepts
- QGQ23-04 intersected a broad zone of replacement mineralization, which returned 4.65 g/t Au over 7.15m (23.5 ft) and 1.12 g/t Au over 18.7m (61.4 ft), below the probable historical Koch Vein. Of significant interest is that the entire interval, including the intervening 0.08 g/t Au interval over 15.15m (49.7 ft), grades 1.35 g/t Au over 41.0m (134.5 ft). This represents a significant increase in size and tenor up-dip and to the south of the 0.69 g/t Au over 22.3m (73.2 ft) intercept obtained in QGQ22-02 (April 25, 2023 News Release).
- Additional replacement mineralization returning 2.77 g/t Au over 6.25m (20.5 ft) and 2.96 g/t Au over 0.65m (2.1 ft).was identified in the lower portion of the hole
- Mineralization is observed both in quartz-carbonate-pyrite veining and in variably sericitic altered metamorphosed fine clastic sedimentary rocks, which lie proximal to the greenstone contact and a lamprophyre dyke.
- Mineralization is open in all directions.
Significant assay results from the 2024 exploration program received so far include infill sample results from drill hole QGQ22-01, which are highlighted above, as well as results from holes QGQ24-05 through to 7 and the first half of QGQ24-08:
- Holes QGQ24-05 to 7 were drilled on the Main zone.
- QGQ24-05 targeted a suspected F2 fold closure northwest of the intercept in QGQ23-04, which yielded 1.35 g/t Au over 41.0m (134.5 ft). QGQ24-05, drilled to 321.60m, yielded a number of greater than 1 g/t gold intercepts over narrow down hole intervals (0.4-1.4 g/t gold) and is thought to have been drilled completely in the hanging wall of the mineralized zone.
- QGQ24-06 was terminated at a depth of 172.20 with no significant results due to difficulty in recovering the fault-hosted mineralized zone, similar to the top of the zone in QGQ23-04
- QGQ24-07 was lost at 56.65m
- QGQ24-08 and 9 were collared at the North Hixon zone
- Initial results from QGQ24-08 has returned 0.29 g/t gold over 263.10m (863.2 ft), including 0.68 g/t gold over 41.85m (137.3 ft) with assays variable through the zone and reflect fault, replacement, and vein styles of mineralization, highlighting an up-dip extension of mineralization found in the Company’s inaugural QGQ22-01 drill hole at the North Hixon zone. Additional results to the end of the 712.0m (2,336 ft) hole are pending,
- QGQ24-09 jogging is complete, and sampling is in progress, with assays also pending.
But here’s what is so unique about Golden Cariboo Resources’ (CSE:GCC);(OTC:GCCFF);(WKN:A402CQ);(FSE:3TZ) property in British Columbia:
It’s surrounded on 3 sides by Osisko Development Corp.
Over the past five years, Golden Cariboo Resources has been consolidating this project – and now it is the only public company other than Osisko Development Corp. to solely own property in this region.
In terms of the geography, it is best described as a bookshelf where on one end of the bookshelf, Osisko Development Corp.’s project is heading into production…
And at the other end sits Golden Cariboo Resources’ Quesnelle Gold Quartz Mine Property – in very similar rocks – with access to virtually all of the same infrastructure and resources.
Critical Reason #4: Golden Cariboo Resources (CSE:GCC);(OTC:GCCFF);(WKN:A402CQ);(FSE:3TZ) appears to be significantly undervalued…for the time being.
Obviously there are many factors to consider when it comes to valuing the potential for a junior gold exploration company.
In the case of Golden Cariboo Resources – based on the potential gold in the ground alone – there appears to be an opportunity for investors to see high upside as the company’s property begins to attract more attention.
Take a look at neighboring Osisko Development Corp. (NYSE: ODV). The company currently has a market cap of CDN $221.85 million, and its shares trade for around $3.
While Osisko Development Corp. has other projects in its portfolio in addition to its Cariboo Gold Project, that type of potential stands in stark comparison to where investors can buy shares of Golden Cariboo Resources right now.
With Golden Cariboo Resources (CSE:GCC);(OTC:GCCFF);(WKN:A402CQ);(FSE:3TZ) trading at just under CDN $0.26 per share, the upside potential is extraordinary.
Given the size of the company next door, once the market begins to realize the potential for the company’s Quesnelle Gold Quartz Mine Property, the share price could move rapidly.
Speaking of which, that leads us to…
Critical Reason #5: Golden Cariboo Resources “checks all the boxes” for an attractive takeover target.
Investors should always consider the potential – particularly in the exploration space – that a company could be targeted as a buyout candidate.
Golden Cariboo Resources Summary
In the case of Golden Cariboo Resources (CSE:GCC);(OTC:GCCFF);(WKN:A402CQ);(FSE:3TZ), the company appears to check all the boxes as an attractive takeover target.
- The company is in the right place – with a high-upside property located right next to a larger company that is headed for production.
- They’re the only other game in town, as no other public companies solely own property that is surrounded by Osisko Development Corp. (TSXV: ODV); (NYSE: ODV)
- And the company is led by the right team – including the very same experts who helped turn Osisko’s Cariboo Gold Project into a reality before they were ultimately bought out by Osisko for approximately $338MM Canadian back in 2016.
That history – and the high upside potential for Golden Cariboo’s Quesnelle Quartz Gold Mine Property – make the company a very intriguing takeover target…and that’s a scenario that could lead to a rapid change in valuation for those shareholders on board at the time.
Discover Golden Cariboo’s Latest News
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