Couloir Capital Is Pleased to Announce It Has Initiated Research Coverage on Golden Cariboo Resources

Rhea-AI Summary

Couloir Capital has initiated research coverage on Golden Cariboo Resources (CSE: GCC), following a site visit by Senior Mining Analyst Ron Wortel. The report, titled "Restarting the Gold Rush in the Cariboo - Again," highlights the historical significance and current potential of the Cariboo region in central British Columbia for gold mining.

The report emphasizes that the Cariboo is an under-explored area with a rich gold mining history dating back to 1858. Recent work has outlined over 6.7 million ounces of Measured and Indicated resources in three deposits, with expectations of further discoveries. The region's gold source rock extends north-south along accreted terrains, with mining towns formed where streams crosscut these trends.

The report also mentions ongoing projects in the area, including Osisko Development's new mine advancement, Spanish Mountain Gold's PFS stage project, and Theia Gold's exploration efforts. Investors can access the full report through Couloir Capital's research portal.

Positive

• Recent work has outlined over 6.7 million ounces of Measured and Indicated gold resources in three deposits
• The Cariboo region is considered under-explored with potential for further significant gold discoveries
• Ongoing mining projects in the area indicate renewed interest and potential for the Cariboo gold camp

Negative

• None.

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

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7358/225205_b9f823a0b468a852_001full.jpg

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…"

The report can be accessed through Couloir Capital's portal: https://www.couloircapital.com/research-portal. Investors are encouraged to sign up for a subscription to receive research reports and other valuable information.

About Couloir Capital Ltd.

Couloir Capital Ltd. is an investment research firm with a team of experienced investment professionals dedicated to providing opportunities in the natural resource exploration and development sectors. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, LSEG, and many other portals, as well as through our social media and large email distribution list. To subscribe, please visit: https://www.couloircapital.com/research-portal

For further information, please contact:

Rob Stitt, Managing Director, Couloir Capital Ltd.

Email: rstitt@couloircapital.com

www.couloircapital.com

DISCLAIMER:

1. Analyst Disclosure: Couloir Capital holds shares or options in the Company. The analyst does not hold shares or options in the Company.

2. The company has retained Couloir Capital under a service agreement that includes analyst research coverage.

3. Investors are encouraged to read the complete list of disclosures contained in the report.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225205

FAQ

What is the historical significance of the Cariboo region for gold mining?

The Cariboo region in British Columbia was the site of a significant gold rush starting in 1858, which played a important role in Canada's development. During the 1860s gold rush, approximately US$50 million in gold was recovered from the placers of the Cariboo.

How much gold has been identified in recent work in the Cariboo region?

Recent work in the Cariboo camp has outlined over 6.7 million ounces of Measured and Indicated gold resources in three deposits, with expectations of further discoveries in the region.

What are some current mining projects in the Cariboo region mentioned in the report on Golden Cariboo Resources (GCCFF)?

The report mentions several ongoing projects in the Cariboo region, including 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.

Where can investors access the full research report on Golden Cariboo Resources (GCCFF)?

Investors can access the full research report on Golden Cariboo Resources through Couloir Capital's research portal at https://www.couloircapital.com/research-portal. Subscription sign-up is encouraged for access to research reports and other valuable information.