(TheNewswire)
Vancouver, BC – TheNewswire - Nov 23, 2021 - Cariboo Rose Resources Ltd.(“Cariboo Rose”) ( TSXV: CRB ) ( OTC: CROOF ) and Vizsla Copper Corp. (“VizslaCopper”) ( TSXV: VCU ) ( OTC: VCUFF ) have amended the optionagreement dated Feb 1, 2021 whereby Vizsla may earn a 60% interest inthe Carruthers Pass property. The amendment removes a requirement ofVizsla to complete $100,000 of work before the first anniversary andreplaces it with a requirement to complete $400,000 before the secondanniversary. To complete the option Vizsla Copper is required tocomplete $3,000,000 in exploration and make $650,000 in optionpayments (cash and shares) over a five year term.
Carruthers Pass is a copper-zinc-silver-gold and cobalt propertylocated in northern BC approximately 75 kilometers southeast of theformer producing Kemess copper gold mine owned by Centerra Gold Inc.( TSX: CG ). It was discovered in 1997 bythe Phelps Dodge Corporation of Canada (now Freeport McMoRan Copperand Gold Inc.). Cariboo Rose acquired Carruthers Pass in 2003 throughan option agreement with Phelps Dodge and earned a 100% interest inthe project in 2011 (subject to a 2.5% net smelter interest reducibleto 1.0% for $1.5M owned by Franco Nevada Corporation). Mostsignificant to the project is a mineralized slab of rock in the upperreaches of a valley below gossanous cliffs. In 2011 the mineralizedslab was core drilled to determine whether or not it was outcrop. Anintercept of 3.1 meters grading 6.2% copper, 5.8% zinc, 2.37 g/t goldand 192.0 g/t silver was obtained before the drill bit passed throughmassive sulfide and into unconsolidated material. Although the exactsource of the mineralized slab has not been located it is almostcertainly local. Numerous untested airborne electromagnetic (EM)anomalies exist on the property.
The Carruthers Pass property is approximately 200 kilometers northeastof the community of Smithers. The Kemess Mine Road passes 25kilometers north and east of the claims while industrial logging roadsextend from Takla Lake northward to within 35 kilometers of theproperty.
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 British Columbia. Asummary 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 Gold Project located 35 kilometers to the north owned by Karus Gold Corp. (formerly part of Kore Mining Limited( TSX-V: KORE ). Shale hosted orogenic gold deposits are one of the mostattractive models for large gold deposits in the world and include thegiant Murantau and Sukoy Log deposits in Russia. Seven historicdrill holes on the Lightning Strike claims include intercepts of 4.54g/t gold and 60.2 g/t silver over 3.8 meters, 1.03 g/t gold over 26.0meters, 0.77 g/t gold over 20.0 meters and 19.30 g/t gold over 1.5meters. Results are pending for eleven reverse circulation (RC) drillholes completed in September of this year.
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.
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 with 813 new samplesin 2021. The project is fully permitted.
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 September, 2021 with data currently being processed. Theproject is fully permitted.
Koster Dam, 55%owned by Cariboo Rose and 45% by Ameriwest Lithium Inc.( CSE: AWLI ) Inc. is located in southern BC 10kilometers north of the former producing Blackdome gold mine. KosterDam is a volcanic hosted gold target related to the Fraser River Faultsystem. Recent programs have located areas of greater than 1.0 gram/tgold in rubble and chalcedonic quartz in outcrop. A Triaxial magneticsurvey and a liDar Survey were completed in June of this year withdata currently being interpreted. Preliminary review indicates anumber of linear features in the general vicinity of anomalous rubble,soil and silt results (gold, silver and arsenic). The project isfully permitted.
Pat, 100%owned, staked by Cariboo Rose in 2004, located in southcentral BCcontiguous 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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