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Vancouver, BC – TheNewswire - Nov 24, 2022 - Cariboo Rose Resources Ltd. (“CaribooRose”) ( TSXV: CRB ) has beenadvised by Basin Uranium Corp. ( CSE:NCLR ) (“ BasinUranium”) , who are earning an interest in theCarbonate Hosted Gold Project, that Basin Uranium wishes to continueand will make the required $30,000 option payment.
Carbonate hosted Gold (CHG) is located in southern BCnear the community of Clinton. The project is drained to the east bythree creeks with very strong gold silt anomalies in a predominantlylimestone terrane. A VTEM (Versatile Time Domain Electromagnetic)airborne geophysical survey was completed by Geotech Airborne Surveysin 2021.The survey indicates a number of resistivity and magneticanomalies in areas where glacial till cover is nearly continuousmasking bedrock. The primary target at CHG is limestone hosted gold.The project is fully permitted for drilling.
J.W. (Bill) Morton P.Geo, within the context of the requirements ofNI-43-101, is the qualified person who takes responsibility for thisnews release.
Bill Morton
J.W. (Bill) Morton, P.Geo., President
Cariboo Rose Resources Ltd.
Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: info@eastfieldgroup.com
AboutCariboo Rose Resources Limited
Cariboo Rose owns seven mineral projects in BritishColumbia. A summary of these projects is as follows:
Lightning Strike, 100% owned shale hosted gold silver project modelled on theSpanish Mountain Gold Project located in similar rocks 95 kilometresto the northwest owned by Spanish Mountain GoldLtd. ( TSX-V: SPA ) and the FG GoldProject located 35 kilometers to the north owned by Karus Gold Corp.Shale hosted orogenic gold deposits are one of the most attractivemodels for large gold deposits in the world and include the giantMurantau and Sukoy Log deposits in Russia. Seven historic drillholes on the Lightning Strike claims include intercepts of 4.54 g/tgold and 60.2 g/t silver over 3.8 meters, 0.77 g/t gold over 20.0meters and 19.30 g/t gold over 1.5 meters. Reverse circulation (RC)drill holes completed by in 2021 by Cariboo Rose included results of 0.62 g/t gold and 7.2 g/tsilver over 38.0 meters including 1.43 g/t gold and 16.3 g/t silver over 10.6meters and 0.54 g/t gold and 14.8 g/t silver over 19.8meters . The project is fully permitted. Acontract to complete 1,500 meters of drilling in September has beensigned.
Carruthers Pass, 100% owned subject to an option with Vizsla Copper Corp.( TSX-V:VSU ) (a spinout from Vizsla Silver completed Sept 30, 2021) whomay earn a 60% interest by making payments of $650,000 and completing$3,000,000 in exploration, sediment hosted massive sulfide discoveredby Freeport McMoRan Copper and Gold in 1997, a 100% interest wasacquired by Cariboo Rose from FMC in 2011, located in northern BCsouth of the Kemess copper-gold mine, most significant to the projectis a mineralized slab of rock weighing several hundred tonnesprotruding from talus with a drill intercept through it of 3.1 meters grading 6.2% copper, 5.8%zinc, 2.37 g/t gold and 192.0 g/t silver ,numerous untested geochemical and geophysical targets. The project isfully permitted. A budget of $800,000 to include airborne geophysicalsurveying and drilling has been approved by Vizsla Copper.
Coquigold, 100%owned, epithermal gold (quartz-adularia) located in southern BC 10kilometers north of Shovelnose Mountain (Westhaven GoldCorp.-Shovelnose discovery). Central to Coquigold is an area where in2008 the BC Geological Survey identified and sampled quartz sinter andseveral areas of silicified (chalcedonic) volcanic and intrusivebreccia, bedrock sampling in 2019 by Cariboo Rose confirmed anepithermal mineralizing event with bedrock samples returning up to 43.1 grams per tonnesilver , 559 ppm arsenic, 13,400 ppb mercury and101ppm antimony. In December 2021 an option to earn a 70% interest was granted to CMP Minerals Inc. who is requiredto make option payments totaling $250,000 cash;issue 200,000 common shares; pay an additional $250,000 in cash orshares and incur $2,000,000 in exploration expenditures, over a periodof four years. Permits have now been issued and field work started inMay 2022 with 453 new soil samples were collected and 3 drill sitesand 1,200 meters of drill access road constructed.
Cowtrail, 100%owned, located in southcentral BC, contiguous with the Woodjamcopper-gold porphyry project owned by Consolidated Woodjam Copper.Reconnaissance drill testing of extensive induced polarizationanomalies (vintage 1997, 2004 and 2006) define a vector ofmineralization trending to the west beyond the area drilled.Significant drill intercepts include 1.16 g/t gold over 18.3m and 0.17% copper and0.11 g/t gold over 40.0m . An untested soil goldarsenic anomaly with coincident strong IP is located a further 2km tothe west. The soil grid at Cowtrail was expanded in 2021 and 2022 with1,066 new samples. The project was recently optioned to BRS ResourcesLtd., currently a private company, who may earn a 60% interest over afour year term by making payments totalling $400,000 and completing$2,000,000 in exploration. The project is fully permitted. Athree-hole diamond drill program (600 Meters) is planned for early in2023.
Koster Dam, 55%owned by Cariboo Rose and 45% by ISM Resources Corp. (private) islocated in southern BC 10 kilometers north of the former producingBlackdome gold mine. Koster Dam is a volcanic hosted gold targetrelated to the Fraser River Fault system. Recent programs have locatedareas of greater than 1.0 gram/t gold in rubble, greater than 3.0 g/tgold in silt and chalcedonic quartz in outcrop. A Triaxial magneticsurvey and a liDar Survey were completed in 2021. Preliminary reviewindicates a number of linear features in the general vicinity ofanomalous rubble, soil and silt results (gold, silver and arsenic). The project is fully permitted for drilling. Tripoint Geoservices ofKelowna has been retained to complete additional geochemical surveyingand prospecting vectoring in from existing anomalous clusters (gold)and linear features indicated in the 2021 airborne survey.
Pat, 100%owned, staked by Cariboo Rose in 2004, located in southcentral BC iscontiguous with the Woodjam copper-gold porphyry project owned byConsolidated Woodjam Copper covers a very strong unexplained magneticairborne anomaly in prospective Nicola Group volcanic rocks.
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