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Golden Cariboo outlines 995,000 oz inferred gold at Quesnelle
The company also reported 175,000 oz indicated gold at the Quesnelle property in central British Columbia and said its estimate used 24 diamond drill holes totaling 8,466 metres.
Golden Cariboo Resources outlined an initial gold resource for its past-producing Quesnelle property in central British Columbia, totaling 175,000 oz in indicated gold and 995,000 oz in inferred gold, according to Mining.com.
The company said the estimate covers its Halo and North Hixon zones, based on a drill-hole database of 24 diamond drill holes totaling 8,466 metres, and noted that the Main zone is not included in the resource.
Golden Cariboo also said the site contains 10 million indicated tonnes grading 0.55 gram gold per tonne and 1.5 grams silver for 175,000 oz of gold and 494,000 oz of silver, while inferred resources were pegged at 70.9 million tonnes grading 0.44 gram gold per tonne and 1.2 grams silver for 995,000 oz of gold and 2.63 million oz of silver.
The report came as Golden Cariboo shares fell 31% to 9 cents Tuesday morning in Toronto, valuing the company at about C$14 million, Mining.com added.
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