Golden Cariboo Commences a $1 Million Work Program.VANCOUVER, British Columbia -- The Board of Directors of 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) (the "Company") is pleased to announce that the Company has commenced a $1,000,000 work program on its ground at the Cariboo Gold Project, near Wells, British Columbia Wells is a small mining and tourist town in the Cariboo District of central British Columbia, located 74 km from Quesnel. It gains much of its revenue and jobs from tourists who pass through on their way to the Bowron Lake Provincial Park and to the historic destination of under the direction of exploration manager Jim Yin, PhD. Three diamond drills have been mobilized to the project to drill 8,000+ meters in three property areas. The aggressive program has targets within the historic mine trend and within the stratigraphy of Bonanza Ledge 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. (an area of the property currently being permitted for production). The following targets have been located primarily by geology and prospecting: 1) Warspite/Mt. Proserpine Property - located 4-8 km SSE (1) An earlier full-screen editor in OS/2. (2) (Streaming SIMD Extensions) A series of additional instructions built into Pentium CPU chips for improved multimedia performance by performing mathematical operations on multiple sets of data at the of Barkerville (Overlooking the town): 28 holes, 3800 m to test mineralization and alteration associated with quartzite quartzite, usually metamorphic rock composed of firmly cemented quartz grains. Most often it is white, light gray, yellowish, or light brown, but is sometimes colored blue, green, purple, or black by included minerals. , argillite/phyllite and/or siltite bodies, and affiliated quartz vein systems. 2) Grouse Property - located 7 km SE of Barkerville along Grouse Creek: 6 holes, 825 m to test alteration and mineralization at contact of limestone and clastic rock. 3) Craze/Wolf Property - located 14 km ESE of Barkerville in the Tinsdale Creek area, and 20 km SSE of Barkerville along Peters Gulch Creek: 32 holes, 4100 m to test: i) Bonanza Ledge-style pyrite replacement mineralization hosted in phyllite phyllite Fine-grained metamorphic rock formed by the recrystallization of fine-grained, parent sedimentary rocks, such as mudstones or shales. Phyllite has a marked tendency to split into sheets or slabs; it may have a sheen on its surfaces due to tiny plates of micas. , argillite ar·gil·lite n. A metamorphic rock, intermediate between shale and slate, that does not possess true slaty cleavage. [Latin argilla, argil; see argil + -ite1. , siltite, & quartzite. ii) Alteration and mineralization at contact of limestone and clastic rock. iii) Massive and disseminated sulphides in or associated with quartz veins. The Cariboo gold project is located near Wells and adjacent to the historic town of Barkerville, the centre 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-and-silver mines on the property of Golden Cariboo Resources Ltd.; the Cariboo gold-quartz mine and the Hardscrabble tungsten mine on the property of International Wayside Gold Mines Ltd.; and 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. The Cariboo Gold Project's landholdings now cover 456 square kilometers (170 square miles) covering 57 kilometers (34 miles) in length and over eight kilometers (five 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). Jarrod Brown, P.Geo, has reviewed this news release as the qualified person as required by National Instrument 43-101. 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. Golden Cariboo Resources Ltd. (TSX VENTURE:GCC) |
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