Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) announced it has signed a purchase contract for a 5.36-acre property in Hixon, British Columbia, to serve as a camp location supporting the advancement of its nearby Quesnelle Gold Quartz Mine Property. The freehold fee simple purchase, with direct access to Highway 97, costs $300,000 CAD, with a $50,000 non-refundable deposit paid and the remaining $250,000 due by October 30, 2026. The company plans to set up an Atco 5 Unit Skid-Mounted Mobile Camp at the site.
In addition to the property acquisition, Golden Cariboo provided an update on its drilling program. The company completed hole QGQ26-30, drilled to a depth of approximately 402 meters (1,319 feet) at an orientation of 270 degrees / -54 degrees. This hole targeted the western contact of the Halo zone from the same pad as QGQ26-29 and ended in favorably altered volcanics about 235 meters (771 feet) horizontal distance west of its collar. Core logging is currently in progress. Drilling of QGQ26-31 commenced this week approximately 70 meters (230 feet) north of QGQ26-30, also targeting the western contact of the Halo Zone.
The Quesnelle Gold Quartz Mine property is located 4 kilometers (2.5 miles) northeast of Hixon in central British Columbia and is road accessible. The property includes the Quesnelle Quartz gold-silver deposit, discovered in 1865 and developed over a footprint of about 150 meters by 150 meters at the Main zone. Golden Cariboo is rediscovering the Cariboo Gold Rush through targeted drilling and trenching programs on its property, which is bordered by Osisko Development and partly intertwined with them at the north end of the Cariboo Gold Project. The property sits along a favorable corridor adjacent to the Spanish and Eureka thrust faults over a 94,899-hectare (234,501-acre) area. Historically, over 101 placer gold creeks on the 90-kilometer (56-mile) trend from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine property have recorded production, with successful placer mining continuing today.
The geological setting of the gold mineralization at the Quesnelle Gold Quartz Mine property shows strong similarities with the Spanish Mountain gold deposit, located 120 kilometers (75 miles) southeast along the same geological trend. As a sediment-hosted vein (SHV) deposit, Spanish Mountain is considered part of the epizonal orogenic subclass of gold deposits, which includes some of the world's largest deposits such as Muruntau, Uzbekistan, and Bendigo, Australia.
This development is significant for investors and industry observers as it demonstrates Golden Cariboo's commitment to advancing its exploration program. The acquisition of a dedicated camp property streamlines logistics and supports sustained drilling activities, potentially accelerating the discovery and definition of gold resources. The proximity to major infrastructure like Highway 97 and the historical productivity of the region underscore the property's potential. Continued drilling results will be closely watched for indications of a significant gold system similar to major deposits globally.
