We received from Mr. Barber of Research Capital Corporation and we are glad to publish the following Higlights concerning Golden Cariboo Resources (CSE:GCC):
“Investment Highlights:
- 100% owned, 95,162 hectare historic mining camp
- Project bordered by Osisko Development Corp (TSXV:ODV,NASDAQ:ODV) and ODV’s CEO Sean Roosen is a shareholder of GCC
- Multiple strikes discovered totalling 8km, most recent discovery Km Uno is a 1km strike extending known mineralization to the South-East
- Assays up to 136.51 m of 1.77g/t Au (hole QGQ24-13) from the 2024 drill program which identified the Halo Zone
- Work can be done year round and infrastructure is in place, located near Quesnel, BC
Golden Cariboo Resources (CSE:GCC) is raising $1,500,000 in a private placement of units at $0.05. Each unit comprises a common share and a warrant exercisable for five years with an escalating strike price, being $0.075 in year one, $0.10 in year two, $0.15 in year three, $0.20 in year four and $0.25 in year five.
The Company has ~88mm shares outstanding for a market cap at the deal price of ~$4.4mm.
GCC’s 100%-owned Cariboo Gold Quartz property, located in the historic Cariboo district of Central British Columbia, is on 95,162 hectare adjacent to (and in some places intertwined with) Osisko Development’s Cariboo Gold Project which is permitted and shovel ready. ODV’s CEO Sean Roosen is a shareholder in GCC.
CEO Frank Callaghan previously founded Barkerville Gold. Barkerville explored, defined the first resources and produced a PEA for the Cariboo Gold Project, which was sold to Osisko Royalties when Mr. Roosen was it’s CEO and Chairman. The project was then spun out into Osisko Development. Barkerville was valued at ~$350mm at the time of the acquisition.
The Feasibility study on the Cariboo Gold project shows 1.89mm ounces to be produced over ten years. Of course, in time, the resource is likely to expand. Mr. Callaghan and his team believe they have a continuation of the trend at the Cariboo Gold Quartz Project, that they have multi million ounce potential.
The project was written up on Streetwise yesterday. The articles does a good job outlining the opportunity. The Company’s corporate presentation is attached and provides further colour.
The Company will use proceeds from this financing for a 7,500 metre drill program. They will be drilling to define existing strikes, confirm new strikes and potentially some infill drilling as they work towards maiden resources”.
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