Explorer Expands High-Grade Gold Discovery in Cariboo District

1. Golden Cariboo Resources Ltd. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Golden Cariboo Resources Ltd.
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.

Golden Cariboo Resources Ltd. (GCC:CSE; GCCFF:OTC; A0RLEP:WKN; 3TZ:FSE) announced that its 2025 drilling program has started at its Quesnelle Gold-Quartz Mine in British Columbia.

Calling a "significant operational milestone," the company said in a release that crews were "fully mobilized to execute a comprehensive diamond drilling program designed to delineate and expand high-potential gold targets across the property."

"We are excited to launch our 2025 drill program and build on the encouraging results from previous exploration campaigns," President and Chief Executive Officer J. Frank Callaghan said. "Our program strategically targets extensions of established zones — such as the Halo and North Hixon areas — while also exploring new avenues identified through our integrated geological and geospatial analyses. This phase of exploration and development is pivotal in our ongoing mission to reveal the remarkable and yet-untapped potential of the Cariboo Gold District."

The company said it is starting by completing surface drill hole QGQ24-21, which is currently the westernmost drill hole collar within the permit area. It is located 80 meters west-southwest of QGQ24-20, which encountered significant gold grades found, in part, to be associated with a major fault along a northwesterly striking contact between the mafic to intermediate volcanic host rocks (greenstones) and a black argillite unit.

Hole QGQ24-20 returned 137.17 meters of 1.45 grams per tonne gold (g/t Au) and 9.77 g/t silver (Ag), including 4.29 meters of 16.35 g/t Au and 9.09 g/t Ag and 2 meters of 6.36 g/t Au and 957 g/t Ag. Strong lithologic similarities have been noted between the top of hole QGQ24-20 and the deepest section drilled in QGQ24-21 so far, Golden Cariboo said. Assay results are pending for the top 220.2 meters of QGQ24-21.

Golden Cariboo said the drilling program is a core component of its broader exploration strategy, which combines historical data with state-of-the-art surveying and mapping techniques.

Surface drill holes are being collared to systematically test key targets where indications of higher-grade mineralization have been recently recorded. The company said future assay results and real-time field assessments will guide the expansion of drilling into additional high-priority areas over the season.

'A Remarkable Year'

In March, Golden Cariboo said it had identified two "significantly sized" gold in Mobile Metal Ion (MMI) soil anomalies north of the currently known extent of the Halo zone at Quesnelle.

Detailed analysis of the MMI soil data between Hixon Creek and Buckley Creek "has revealed gold anomalies that have been shown to correlate with known gold mineralization of the trenching and diamond drilling program," geologist David Mark said. "This, therefore, shows that MMI is invaluable in outlining gold targets within the Quesnelle Gold Quartz Mine property. As such, it has revealed numerous gold anomalies throughout the MMI survey area that are new targets for future exploration."

According to Technical Analyst Clive Maund, while "the grades found are good, the big news here is the extent of it."

Earlier drilling results this year also significantly extended the Halo zone.

"Drill hole QGQ24-20 capped off a remarkable year, stepping out 100 meters and delivering another exceptional intercept that affirms the Halo zone as a major discovery in the Cariboo Gold District," Callaghan said. "Greenstone contacts host many of the world's premier gold camps, and we have now identified one only 4 kilometers from a major highway and community in central British Columbia."

According to Technical Analyst Clive Maund, while "the grades found are good, the big news here is the extent of it."

During its exploration, the company has found multiple occurrences of visible gold in its core results from the project.

"Visible gold in current drilling indicates potential for high-grade assays from mineralized targets," Couloir Capital Senior Mining Analyst Ron Wortel wrote of the project in a recent research report as he assigned a Buy recommendation for the company's stock, citing Golden Cariboo's exploration initiatives as a unique opportunity for exposure to a gold resource discovery in a Tier 1 jurisdiction.

The Catalyst: Gold Still Surging As Tariffs Come Into Effect

Safe-haven appeal led gold prices to jump in Asian trading Wednesday, as U.S. tariffs came into effect leading to a combined 104% tariff on China, while bullion was further supported by the dollar falling to a six-month low, Ayushman Ojha reported for Investing.com on Wednesday.

As of 2:35 a.m. ET (06:35 GMT), Spot Gold jumped 1.6% to US$3,031.02 per ounce, Ojha reported. Gold Futures expiring in June jumped 1.9% to US$3,046.61 an ounce on Wednesday.

The yellow metal had fallen below US$3,000 per ounce earlier this week to its lowest level since March 13 after reaching a record high on April 3.

China's Ministry of Commerce has vowed it will "fight to the end" over the tariffs, raising concerns over further economic disruption and triggering a risk-off mood in markets globally.

Geopolitical tensions and economic uncertainty are driving safe-haven flows to the yellow metal, pushing up gold prices, Garth Friesen wrote for Forbes on March 15.

"However, several other longer-term factors and trends will help determine whether the rally will be sustained," he noted.

On March 11, according to Friesen, DoubleLine Chief Executive Officer Jeffrey Gundlach said, "I think gold will make it to US$4,000. I'm not sure that'll happen this year, but I feel like that's the measured move anticipated by the long consolidation at around US$1,800 on gold."

Ownership and Share Structure

According to Golden Cariboo, management and insiders own 12.2% of the company, and President and Chief Executive Officer Frank Callaghan owns nearly 11%.

Retail investors hold the remaining. There are no institutional investors.

The company said it has 60.3 million shares outstanding, and its market cap is CA$8.43 million. Over the past 52 weeks, Golden Cariboo has traded between CA$0.10 and CA$0.36 per share.