Summary:
Golden Cariboo Resources is targeting a major gold discovery at its historic Quesnel Quartz Mine project in British Columbia. With 100% ownership, no royalties, and high-grade intercepts along a greenstone contact, CEO Frank Callaghan—who’s already built two mines in the region—believes this could be his third.
Reviving a Historic Gold Camp
Golden Cariboo Resources is advancing a high-potential gold project just outside Hixon, British Columbia—located halfway between Quesnel and Prince George. The company’s flagship asset, the Quesnel Quartz Mine project, lies in a region with a long mining legacy dating back to the 1860s California Gold Rush era.
CEO Frank Callaghan, a veteran of the Cariboo gold camp with 30 years of experience, is no stranger to success. He previously developed two mines in the district, including Bonanza Ledge and the QR Mine. Now, he’s returned from retirement, convinced that Golden Cariboo’s newly consolidated property sits on the same kind of greenstone contact that underpins Canada’s most prolific gold belts—from Timmins to Val-d’Or.
A Project with All the Right Ingredients
The 3,800-hectare property is 100% owned by Golden Cariboo with no underlying royalties or NSRs. It hosts the historic Quesnel Quartz Mine—one of BC’s first underground gold operations. But while the camp produced over 2 million ounces in placer gold historically, modern exploration has been minimal due to fractured ownership.
That changed when Golden Cariboo assembled the entire land package and began drilling based on a compelling geological model. Recent intercepts have returned:
- Over 1 g/t gold across nearly 100 feet (30+ meters)
- Multiple zones of disseminated gold mineralization within a greenstone contact
Critically, the team changed the drilling orientation to test along the contact rather than across it—a move that led directly to their best results to date.
Greenstone Revelation Attracts Major Interest
One of the most important turning points came when Golden Cariboo staff recognized a greenstone contact on the property—similar to those found in Canada’s highest-producing gold belts. This detail triggered a surge of interest not just from Callaghan but also from major neighbor Osisko Development.
Once Golden Cariboo secured the land package, Osisko quickly staked ground on three sides—20 kilometers to the north and south—surrounding Golden Cariboo’s holdings.
“It’s clear they know what we know,” says Callaghan. “They did the same thing with our last project—then bought it for $330 million.”
A Team That’s Done It Before
Golden Cariboo’s management team is seasoned and proven. Callaghan led Barkerville Gold Mines through discovery and development before selling it to Osisko Royalties (now Osisko Development). The buyer subsequently spent over $600 million verifying and advancing the asset.
Key team members include:
- Frank Callaghan, CEO – 30 years in the Cariboo, founder of Barkerville
- Tom Kennedy and Andrew Rees – Long-time collaborators
- Lawrence and Glenn – New technical additions with focused mandates
The goal now: to make a third major mine in this storied district.
Tight Structure, Big Upside
The company’s share structure remains tight:
- 38.7 million shares outstanding
- 58 million shares fully diluted
- Over 20% insider ownership, with Callaghan himself holding a major stake
Despite the district-scale potential and recent drill success, the company remains under the radar—providing what Callaghan calls “enormous blue sky potential.”
Path Forward: Resource Definition and Growth
Golden Cariboo is currently in its second drill program on the project. With the identification of strong intercepts along the greenstone contact, the team hopes to publish a maiden 43-101 compliant resource by the end of the field season. While it may be early to predict full outcomes, the evidence so far is compelling.
“This is the same kind of rock that hosts 100 million ounces between Timmins and Val-d’Or,” says Callaghan. “And no one’s really looked at it here before.”
Why Investors Are Taking Notice
- 100% owned project with no royalties
- Historic mine site with proven gold production
- New geological model based on greenstone contact
- Surrounded by Osisko Development
- High-grade drill intercepts with modern targeting
- Experienced team with two prior mines in the district
- Tight share structure and strong insider ownership
As Callaghan puts it: “This is very early stage, but the grades, the rocks, and the model are all here. We’ve done it before—and we believe we can do it again.”
WATCH IT HERE: Rediscovering the Cariboo Gold Rush – Golden Cariboo Resources
CSE: GCC | OTCQB: GCCFF | WKN: A0R2CQ | FSE: 3TZ
HEAD OFFICE
804 – 750 West Pender Street
Vancouver, BC V6C 2T7
T: 604-682-2928
E: info@goldencariboo.com
W: goldencariboo.com
For more information, contact:
Frank Callaghan, President & CEO
$gcc.cn #gold #britishcolumbiamining #cariboogoldrush
