(TheNewswire)
Vancouver, BC, TheNewswire - Jan 12,2023, Cariboo Rose ResourcesLtd. (“Cariboo Rose”) ( TSX-V: CRB ) has beenprovided an update by VizslaCopper Corp. (“Vizsla Copper”) ( TSX-V: VCU ) onexploration activities completed in 2022 on the Carruthers Passproject located in northern BC. At theCarruthers Pass property, a helicopter supported drilling program wascompleted in the late summer and a total of 1,345m was drilled inthree drill holes (CP22-15, 16B and 17), plus one abandoned drill hole(CP22-16). All of the drill holes are located in the Boulder zoneand evaluated new potential sources for the namesake high-grade,massive sulphide boulder located there. The results from the drillprogram are encouraging and of particular interest is the discovery ofmassive sulphide layers in drill hole CP22-17, within a stronghelicopter borne Versatile Time Domain Electromagnetic (VTEM)conductor. The massive sulphide layers are composed dominantly ofpyrite and/or pyrrhotite, and may represent distal facies of a basemetal rich VMS deposit. Geochemical analyses from drill core sampleshave been received. Highlights include 2,150 ppm Cu over 1.0m from439.5m and 2,227 ppm Zn over 2.2m from 549.5m in drill hole CP22-16B.Approximately $1.5 million was expended in the 2022 fieldprogram.
Significant to Carruthers Pass is a mineralized slab ofrock weighing several hundred tonnes protruding from talus with adrill 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. The geological environmenthere is interpreted to be permissive for sediment hosted (Besshistyle) massive sulphide mineralization.
A 100% interest in Carruthers Pass was acquired byCariboo Rose from Freeport McMoRan Exploration in 2011 subject to a2½% net smelter royalty (now held by Franco Nevada Corp.) that may bereduced to 1% by payment of $1,500,000. Vizsla Copper may earn a 60%interest in Carruthers Pass from Cariboo Rose by making paymentstotaling $650,000 and completing $3,000,000 in exploration before Feb17, 2026.
J.W. (Bill) Morton P.Geo, within the context of therequirements of NI-43-101, is the qualified person who takesresponsibility for this news 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
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.
Other Projects:
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 of0.62 g/t gold and 7.2 g/t silver over 38.0 meters including 1.43 g/tgold and 16.3 g/t silver over 10.6 meters and 0.54 g/t gold and 14.8g/t silver over 19.8 meters. The project is fully permitted. 11 drillholes (1,500 meters) of drilling was completed in early October(analysis currently in progress).
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 to43.1 grams per tonne silver, 559 ppm arsenic, 13,400 ppb mercury and101ppm antimony. In December 2021 an option to earn a 70% interest wasgranted to CMP Minerals Inc. who are required to make option paymentstotaling $250,000 cash; issue 200,000 common shares; pay an additional $250,000 in cash or shares and incur$2,000,000 in exploration expenditures, over a four yearperiod. 453 soil samples were collected in May,2022 and in December, 2022 a helicopter-bornemagnetic gradient, radiometric, and VLF-EM survey (451 linekilometers) was completed by Precision Geosurveys of Langley, BC.
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 and0.17% copper and 0.11 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. A diamonddrill program is planned for early in 2023.
CHG, 100% ownedsubject to an option with Basin Uranium Corp.( CSE: NCLR ) who may earn a 60% interest by making payments of$300,000 and completing $1,500,000 in exploration by Nov, 2025 andthereafter an additional 10% interest bycompleting a bankable feasibility study within 24 months. CHG islocated in southern BC near the community of Clinton. CHG (short forCarbonate Hosted Gold) is drained to the east by three creeks withvery strong gold silt anomalies in a predominantly limestone terrane.A VTEM airborne geophysical survey was completed by Geotech AirborneSurveys in 2021 and indicates a number of resistivity and magneticanomalies. Basin Uranium recently advised the company that it willcontinue with the option. The project is fully permitted fordrilling.
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 completed a program of additional geochemical surveying andprospecting in 2022 with influence from 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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