10:44 AM EST - Golden Cariboo Resources Ltd. : Reported that significant correlations have been made during an initial study of limited surface mapping and trenching results along with data acquired from Osisko Development’s (ODV:NSE/TSXV) 2016-2017 airborne mag and EM survey which includes over 1000ha of the Quesnelle Gold Quartz Mine Property. Geotronics Consulting Inc., who visited the Property in 2017 to conduct an IP survey, reviewed the ground and airborne data. Highlights of the findings state “ What is immediately apparent in examining the magnetic and EM maps is that there is a strong northwest trend in the anomalies across the Property. This completely agrees with the known geology which shows faulting and lithological contacts as trending northwesterly. The magnetics also show the Main Zone and the Halo Zone to occur within a fairly strong northwesterly-trending magnetic high within the Property and the North Hixon Zone occurs along the northeastern edge of this same high. However, gold mineralization within the known zones occurs within an altered greenstone which would generally not be expected to be magnetic. Therefore, the magnetic high may be caused by basaltic volcanic rocks or ultramafic rocks, possibly at depth, which are known to occur within a few kilometers to the southeast. It would appear that these rock-types are related to the known gold mineralization and therefore the possibility exists that mineralization occurs along this entire strike length within the Property which is 1,850 meters. Golden Cariboo Resources Ltd.
shares V.GCC are trading unchanged at $0.08.
Full Press Release: https://www.baystreet.ca/quotedata/quote.aspx?ticker=GCC%3ACA&qmodStoryID=7848364244366157
