Vancouver, British Columbia--(Newsfile Corp. - October 1, 2024) - Couloir Capital is pleased to announce it has initiated research coverage Golden Cariboo Resources Ltd. (CSE: GCC) ("GCC," or "Company"). Following a recent site visit, Couloir Capital's Senior Mining Analyst, Ron Wortel, MBA, P.Eng., Q.P. crafted a report titled "Restarting the Gold Rush in the Cariboo - Again"
Report excerpt: "The Cariboo is still an under-explored region in central British Columbia that had a significant impact on the development of Canada. The gold rush that started on the Fraser River was followed upstream to the creeks and hills of Wells, BC, to find the hard rock source of the rich placers. The current work shows that the gold source rock now extends north-south in trends along the length of several accreted terrains, and the current mining towns are formed where streams crosscut these trends to produce placers. The recent work in the camp already outlined over 6.7 M+I million ounces in three deposits, and we, along with others, believe this is just a start for this camp.
Gold was discovered on the Fraser River in 1858, attracting seekers from around the world. Prospectors followed the gold upstream to a new area of rich gold-bearing placers in the creeks of the Cariboo Region. In 1861, a group of prospectors led by William "Dutch Bill" Dietz found gold in a stream named Williams Creek in his honour, as shown in Figure 1.
Figure 1: Williams Creek During the 1860s Gold Rush
Source: BC Archives
During the gold rush, approximately US$50 million in gold was recovered from the placers of the Cariboo. The town of Barkerville is named after Bill Barker, a prospector with an idea to find more gold by u/g mining. His group dug down to the gravels in the valley to the west of the main surface placers. There they found the single richest "pay" of the camp. This buried placer yielded US$600,000 in gold, at US$18.93/oz in 1862, or around 31,700 ounces. This fame led to the naming of the new town. This amount of gold would now be worth C$107.6 million. Omenica Mining and Metals is following Dutch Bill's example on Lightning Creek west of Barkerville as outlined below.
The Cariboo camp is now the site of a new mine under advancement by Osisko Development, an advanced PFS stage project held by Spanish Mountain Gold near Likely, and ongoing exploration in the southern part of the Cariboo by Theia Gold to find the next major deposits in the region.
This renewed interest in the Cariboo may be the result of one group's search for a new gold project to advance in BC..."
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Rob Stitt, Managing Director, Couloir Capital Ltd.
Email: rstitt@couloircapital.com
DISCLAIMER:
Analyst Disclosure: Couloir Capital holds shares or options in the Company. The analyst does not hold shares or options in the Company.
The company has retained Couloir Capital under a service agreement that includes analyst research coverage.
Investors are encouraged to read the complete list of disclosures contained in the report.