Drilling is Underway at the Cariboo Gold Project.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Golden Cariboo Resources Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:GCC GCC: see Gulf Cooperation Council. (compiler, programming) GCC - The GNU Compiler Collection, which currently contains front ends for C, C++, Objective-C, Fortran, Java, and Ada, as well as libraries for these languages (libstdc++, libgcj, etc). ) Michael Rasmussen, PhD, Vice President of Exploration, has reported to the of Board of Directors of Golden Cariboo Resources Ltd. (the Company) that the drilling program is well underway near the confluence of Cunningham Creek and Peter's Gulch Creek. Seven diamond drill holes have now been completed and number eight is in progress with assays pending. Twelve diamond drill holes are planned in the first phase of drilling on three target areas identified by Company geologists during the 2004 field season. These include structural and stratigraphic stra·tig·ra·phy n. The study of rock strata, especially the distribution, deposition, and age of sedimentary rocks. strat targets in impure im·pure adj. im·pur·er, im·pur·est 1. Not pure or clean; contaminated. 2. Not purified by religious rite; unclean. 3. Immoral or sinful: impure thoughts. dolomitic dol·o·mite n. 1. A white or light-colored mineral, essentially CaMg(CO3)2, used in fertilizer, as a furnace refractory, and as a construction and ceramic material. 2. metasedimentary rocks. Previously recognized mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. in the area includes the Cariboo Hudson Mine (1937-39) and gold and silver prospects on ground optioned from Consolidated Pacific Bay Minerals Ltd. (see News Release 04-02). Company geologists have identified drill targets both in and adjacent to areas of past prospect development based on new knowledge of the geology and the structural setting at International Wayside Gold Mines' Bonanza Ledge discovered in 2000, and is currently in permit process for approval to mine 70,000 tonnes per year beginning in 2005. This exploration drilling represents the initial phase of a district-wide exploration program on the extensive lands controlled by Golden Cariboo Resources Ltd. and its sister companies, International Wayside Gold Mines Ltd. and Island Mountain Gold Mines Ltd. The properties are part of the Cariboo Gold Project in the Cariboo Mining district. The new drilling program is located approximately 20 kilometers southeast of the Bonanza Ledge in similar host rocks. The geological field team is lead by John Childs, PhD, Exploration Manager. Janet M. Riddell, P.Geo. is the senior geologist on the project and the Qualified Person as required by National Instrument 43-101, and has reviewed this News Release. The Cariboo Gold Project is located near Wells and adjacent to the historic town of Barkerville, the center of the Cariboo Gold Rush The Cariboo Gold Rush was a gold rush in the Canadian province of British Columbia. Although the first gold discovery was made in 1859 at Horsefly Creek by Peter Dunlevy, followed by more strikes at Keithley Creek and Antler Creek in 1860, the actual rush did not begin until 1861, in the 1860s. The project encompasses the former producing Cariboo Hudson and Cariboo Thompson Gold & Silver Mines on the property of Golden Cariboo Resources Ltd (GCC-TSX); and the Cariboo Gold Quartz Mine, and the Hardscrabble hard·scrab·ble adj. Earning a bare subsistence, as on the land; marginal: the sharecropper's hardscrabble life. n. Barren or marginal farmland. Adj. 1. Tungsten Mine on the property of International Wayside Gold Mines Ltd (IWA-TSX); the Aurum, Island Mountain, and the Mosquito Creek Gold Mines on property which is jointly held between International Wayside Gold Mines Ltd. and Island Mountain Gold Mines Ltd (IM-TSX). The Cariboo Gold Project's land holdings now cover 456 square kilometers (170 square miles) covering 57 kilometers (34 miles) in length and over 8 kilometers (5 miles) in width. In the Barkerville Camp, 79 creeks have reported placer gold production. Recorded production from the area was 3.8 million ounces of gold (2.6 million ounces from placer and 1.2 million ounces from lode mining. On Behalf of the Board of Directors J. Frank Callaghan, President This news release contains forward-looking statements regarding the timing and content of upcoming programs. Actual results may differ materially from those currently anticipated in such statements. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has neither approved nor disapproved of the information contained herein. |
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