(TheNewswire)
Vancouver, BC , April 12, 2024, T heNewswire, Cariboo RoseResources Ltd. (“Cariboo Rose”) ( TSX-V: CRB ) has been advised by Vizsla Copper Corp. (“Vizsla Copper”) (TSX-V: VCU ) that Vizsla Copper is terminating its optionon the Carruthers Pass volcanic massive sulfide project located innorthern British Columbia to enable it to focus on its porphyry coppergold projects located in southern British Columbia; particularlyWoodjam.
Carruthers Pass is a shale hosted massive sulfide project (base,precious metals and cobalt), discovered in 1997 by Freeport McMoRanCopper and Gold. In 2003 Cariboo Rose Resources Ltd. acquired theright to Carruthers Pass through an option agreement with Freeport(then Phelps Dodge Corporation) and earned a 100% interest in theproject in 2011 through completion of a series of cash and sharepayments, work commitments, and back in privileges (subject to a 2.5%net smelter interest reducible to 1.0% for $1.5M in favor ofFranco-Nevada Corporation).
Most significant to Carruthers Pass is a large mass of mineralizedrock protruding from talus below gossanous cliffs in the upper reachesof a valley. In 2011 the mineralized mass was core drilled yielding anintercept of 3.1 meters grading 6.2%copper, 5.8% zinc, 2.37 g/t gold and 192.0 g/t silver beforethe drill bit passed out of mineralization into unconsolidatedmaterial (i.e. the mineralized mass is not in place). It is,nevertheless, almost certain that the originating source (bedrock) forthe mineralized mass is very local.
Most recently in 2022 a program including a VTEM helicopter borneelectromagnetic and aeromagnetic survey followed by a four-hole(1,345m) drill program was competed at a cost of $1,950,000. Despitelimited results in the four drill holes they were surveyed with adown-hole EM procedure which successfully located an off-holeconductor in one hole which remains untested.
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. In addition to Carruthers Pass these are:
-Lightning Strike, shale hosted gold, located east of100 Mile House, 100% owned.
-Carbonate Hosted Gold, gold, located northwest ofClinton, BC, 70% option to Basin Uranium Corp
-Cowtrail, contiguous with Woodjam project (VizslaCopper Corp), 60% option to BRS Mining Resources.
-Pat, porphyry copper-gold, contiguous with VizslaCopper Corp’s Woodjam project, 100% owned.
-Coquigold, epithermal gold, north of WesthavenGold’s Shovelnose, 70% option to CMP Minerals.
-Koster Dam, gold, located near Black Dome Mine, 55% -45% joint venture with Discovery Lithium Corp.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. Readers are advised that thisnews release contains a number of forward-looking statements that maynot occur to fruition.
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