Gold Co. Uncovers Excellent British Columbia Gold Opportunity

1. Golden Cariboo Resources Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000. In addition, Golden Cariboo Resources Ltd. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Golden Cariboo Resources Ltd.
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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Golden Cariboo Resources Ltd. (GCC:CSE; GCCFF:OTC; A402CQ:WKN; 3TZ:FSE) announced the commencement of its autumn surface drilling campaign at its flagship Quesnelle Gold Quartz Mine Property in a release on November 4.

This phase of exploration at the British Columbia project builds on the achievements of previous programs and aims to extend the strike length of the gold-bearing Halo and Main zones from nearly 600 meters to 2 kilometers along the black argillite-greenstone contact.

Golden Cariboo said it also has welcomed two seasoned professional geoscientists to its technical team: Cheryl Reid and Catherine Banfield, both of whom bring extensive field and analytical expertise to support the project.

Cheryl Reid is an exploration geologist with two decades of experience in mineral exploration across Canada. Her expertise in VMS and Archean greenstone belt-hosted orogenic gold projects includes drill supervision, core logging, QA/QC, database management, and field mapping, the company said.

Catherine Banfield has 20 years of experience in polymetallic mineral exploration and mining projects both in Canada and internationally. She brings valuable insights into structural interpretation and geological modeling, GCC's release noted.

"We are thrilled to kick off our autumn drilling campaign and to welcome Cheryl and Catherine to our team," said President and Chief Executive Officer J. Frank Callaghan. "Their combined experience and technical acumen will be invaluable as we continue to expand the gold-bearing zones and define new targets."

Extending the Combined Halo/Main Strike Length

In September, the company unveiled its plans for its 2025 fall-winter drilling campaign, which aims to extend the combined strike length of the Halo/Main zones at its Quesnelle Gold Quartz Mine property from nearly 600 meters to 2 kilometers.

The company's current permit allows for drill testing of the newly discovered Km Uno zone, the parallel North Hixon zone to the Cayenne trend, and the Sunset trend targets, according to a company release.

"These targets are supported by significant drill results and a resistivity high anomaly from the North Hixon zone, a resistivity high anomaly at the Sunset, and promising initial rock geochemistry from the Km Uno zone," an earlier release noted. "The four trends collectively span approximately 8 kilometers of prospective exploration potential, comparable to the Halo zone."

Based in Vancouver, Golden Cariboo is reigniting the Cariboo Gold Rush through targeted drilling and trenching efforts at the Quesnelle project. The Quesnelle property covers 94,899 hectares and is strategically located along a favorable corridor near the Spanish and Eureka thrust faults, adjacent to major players like Osisko Development Corp. (ODV:TSX.V).

Historically, over 101 placer gold creeks on the 90-kilometer trend from the Cariboo Hudson mine north to the Quesnelle property have recorded production, and successful placer mining continues in the area today. Callaghan has noted, "We're in elephant country and we may have another elephant."

Km Uno Zone

The Km Uno zone is a significant parallel mineralized trend situated about 2 kilometers southeast of the 2024 Halo zone discovery, with the Sunset trend located 1.4 kilometers to the west, effectively placing the Halo zone in the center. This arrangement of parallel structures — Km Uno, Halo, and Sunset — aligns with historical soil anomalies, resistivity highs, and geochemical indicators, suggesting a cohesive, district-scale gold system, according to Golden Cariboo.

Notably, these trends show a strong correlation with the argillite-greenstone lithological contact evident in the property’s geological mapping. This contact is a key feature that controls mineralization and is reminiscent of the geological controls observed in major gold-producing districts across the Abitibi Greenstone Belt from Val d’Or to Timmins, where such contacts have been crucial in defining extensive, high-grade deposits.

"The assay results from the Km Uno zone, a structure parallel to our 2024 Halo zone discovery, mark a major milestone for the Quesnelle Gold Quartz Mine property," Callaghan said at the time. "These findings confirm our geological model and highlight the potential for multiple mineralized zones across the property."

The Km Uno zone, identified through focused bedrock mapping and sampling, has produced initial results of up to 1.1 grams per tonne gold (g/t Au) and 8 g/t silver (Ag) from mineralized volcanic subcrops, the company said. These findings correlate with strong gold-silver-arsenic soil anomalies and geophysical features visible on the property's 2024 gold MMI soil map.

'Massive Mineralization Here'

Brien Lundin of The Gold Newsletter, writing on June 16, said that junior miners like Golden Cariboo Resources are starting to gain traction in the current gold bull market.

"We've waited a long time in this new gold bull market for the excitement to trickle down to the junior mining sector," Lundin wrote. "Well, wait no longer. . . because it's happening now."

Steve Hyland interviewed Callaghan on "The Deep Dive" on YouTube last month, saying he had recently talked to mining financier and entrepreneur Sean Rosen, who was "really happy to just see action in the area and to see the drills going."

Pointing to past results including 3 g/t gold, he said, "There's clearly just massive mineralization here" at the project.

"There are a lot of big hits that you had in that drill program," Hyland said. "But it's interesting to me, 10 years ago, these grades maybe weren't that exciting, but in a US$4,000 gold environment, for you guys to be trading at a sub US$10 million market cap with these recent drill hits. I find it kind of fascinating that there hasn't been a little bit more of an uptick in the share price."

Callaghan replied, "There's a progression as to the way the market sort of works in this type of an environment. So, our turn's coming. We're not first out of the gate, but it's about finishing the race."

The Catalyst: Gold Bounces Back

Gold prices bounced back November 5 as a broader risk-off sentiment in global financial markets increased bullion's appeal as a safe haven, while traders awaited U.S. private payroll data for insights on potential future interest rate cuts, according to a report by Peter Nurse for Investing.com on the same day. At 8:20 a.m. ET, spot gold rose 0.4% to US$3,976.75 per ounce, and U.S. gold futures climbed 1% to US$3,969.33 an ounce, Nurse said.

Investor anxiety was heightened after the CEOs of major U.S. banks, Morgan Stanley (NYSE:MS) and Goldman Sachs (NYSE:GS), warned of a potential sharp downturn in equity markets, citing overvalued stocks and "bubble-like" conditions in the tech-driven rally.

Their comments led to significant overnight losses on Wall Street, followed by declines in both Asian and European markets on Wednesday. These market jitters renewed demand for gold, which is traditionally seen as a secure store of value during financial uncertainty, the article noted.

Despite Wednesday's rise, gold remains under pressure, having fallen nearly 2% in the previous session to a one-week low. This decline came as traders reduced expectations for a December rate cut after Chair Jerome Powell indicated last week that policymakers might pause further easing. A strong U.S. dollar, hovering near a three-month high, has also pressured gold by making it more costly for international buyers. Additionally, easing tensions between the U.S. and China have reduced safe-haven inflows, limiting gold's upward momentum in recent sessions.

Gold's rally has entered a cooling phase after two consecutive weeks of losses. Although short-term momentum has slowed, the fundamental reasons for holding gold remain strong, according to Ole Hansen, head of commodity strategy at Saxo Bank, reported Ernest Hoffman for Kitco News on November 4. 

Hansen noted that over the past two weeks, the market sentiment "has shifted from exuberance to reflection, with traders reassessing how much of the 2025 narrative — rate cuts, fiscal stress, geopolitical hedging, and central bank demand — has already been priced in," according to the article.

He also mentioned that India's festival season typically boosts jewelry demand. "The market has now entered its customary post-festival soft patch, likely to stabilize as year-end buying returns, potentially aided by the recent correction," he said.

Ownership and Share Structure¹

Three insiders own 9.7% of Golden Cariboo. They are president and CEO Frank Callaghan, the largest shareholder overall, with 8.9%, Elaine Callaghan, Andrew Rees, and Laurence Smoliak.

The rest is in retail. There are no institutional investors at this time.

The Canadian explorer has 87.89 million outstanding shares, and 87.89 million free float traded shares. Its market cap is CA$4.85 million. Its 52-week range is CA$0.04–CA$0.24 per share.