(TheNewswire)
Vancouver, BC – TheNewswire - May 18,2021 , Cariboo Rose ResourcesLtd. (“Cariboo”) ( TSXV: CRB ) (OTC:CROOF) advises thatCHG project option partner Black Shield Metals Corp. (“Black Shield”) (CNSX;BDX ) has arranged for Geotech Airborne Geophysical Surveys ofAurora Ontario to complete a Versatile Time-Domain Electromagnetic(VTEM™) geophysical survey on the CHG project. The survey will be helicopter-borne and willcover approximately 335 line-kms. The VTEM™ Time Domain EM systembeen proven to be effective for locating discrete conductive anomaliesas well as mapping lateral and vertical variations in resistivitywhich will be valuable in identifying potential targets for groundfollow-up. The airbornesurvey is expected to be completed no later than August.
The CHG Project (Carbonate Hosted Gold) covers 3,606 hectares and is located approximately 15kilometers northwest of the town of Clinton in south-central BritishColumbia. Cariboo Rose began working on the project in 2013 and hassince identified three eastward flowing creeks which contain highlyanomalous concentrations of gold in silt sediment. Detailed samplingin the creeks indicates that the silt anomalies abruptly terminategoing upstream with the interval lateral to the termination ends ofthe anomalies being approximately 9 kilometers in length. Bedrock isinfrequent excepting the higher elevation western edge of the claimsand is dominated by limestone (mapped as belonging to the Cache CreekGroup). The primary target for this exploration is carbonate hostedgold (CHG) modeled on a number of gold deposits including the depositsof Carlin Nevada, the high-grade Muddy Lake deposit located innorthern BC and recent discoveries in the Yukon.
Black Shield Metals Corp. can earn a 60% interest inthe CHG project by completing $1,500,000 in exploration and makingpayments of $300,000 by Nov, 2025 and thereafter an additional 10% interest by completing a bankablefeasibility study and paying an additional $500,000 within a further24 months.
J.W. (Bill) Morton P.Geo, within the context of therequirements of NI-43-101, is the qualified person who takes fullresponsibility for this news release.
Bill Morton
J.W. (Bill), 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 . These include:
- LightningStrike ; shale hosted gold, located east of 100Mile House, 100% owned
- Pat ; porphyry copper-gold, contiguous withConsolidated Woodjam Copper, 100% owned
- Coquigold ; epithermal gold, located north ofWesthaven Gold Shovelnose, 100% owned
- Cowtrail ; porphyry copper-gold, contiguouswith Consolidated Woodjam Copper, 100% owned
- CarruthersPas; massive sulfide, located southwest ofKemess Mine, 60% option to Vizsla Copper Corp
- CarbonateHosted Gold , located northwest of Clinton, 60%or 70% option to Black Shield Metals Corp
- KosterDam , gold, located near Gang Ranch 55% - 45%joint venture with Ameriwest Lithium Inc.
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.
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