(TheNewswire)
Vancouver, BC – TheNewswire - Feb 20, 2024 - Cariboo Rose Resources Ltd.(“Cariboo Rose”) ( TSXV: CRB ) and BRS Mining Resources Ltd.(“BRS Mining”) announce the results of 5reconnaissance drill holes completed on the Cowtrail, copper-goldproperty, located in the Cariboo region near the community ofHorsefly, in south central British Columbia. The project is located 15kilometers southeast ofthe existing Mt. Polley Mine operated by Imperial Metals Corporationand contiguous with the Woodjam and Redgold copper-gold porphyryprojects owned by Vizsla Copper Corporation (TSX-V: VCU). Cariboo Rosehas owned the 4,592-hectare Cowtrail property since 2004.
The claim is located within the Jurassic-TriassicQuesnel Terrane which hosts a number of copper-gold porphyry deposits.Reconnaissance drill testing in 2007 and 2011 of extensive induced polarization anomalies from 1997, 2004 and 2006 surveysdefine a vector of increasing mineralization trending to the southwestbeyond the area drilled in that time period. Significant drill intercepts fromthis period include 1.16 g/t gold over 18.3m in hole 07-DDH-1 and 0.17% copper and0.11 g/t gold over 40.0m in holeCT11-12. In addition to drill results soilsurveys completed in 2006 and 2021 indicate an untested soil goldarsenic anomaly coincident with coincident strong induced polarizationchargeability a further 1500 meters to the west.
A five-hole drill program was conducted in 2023 onsites prepared in June, 2023 targeting areas internally called the LeaLake and BM Breccia Areas with the most significant result being hole CT23-16 in theLea Lake Area returning 0.15% copper over 105.0meters, including 0.23% copper and 0.1g/t gold over 15 meters. HoleCT23-16 is collared 45 meters south of hole CT11-12 which previouslyreturned 0.17% copper and 0.11 g/t gold over 40.0m. Mineralizationintersected in hole CT23-16, occurring in diorite-andesite, remainsopen to the south.
In the BM BrecciaArea , a further 1,500 meters to the west, holeCT23-18 intersected 0.82g/t gold over 6.0 meters.
Hole CT23-19, also located in BM Breccia Area wasabandoned in difficult drilling conditions at 47.6 meters with thefinal sample grading 0.11% copper.
Hole Details
Hole id | East (m) | North (m) | Elevation (m) | Azimuth (degrees) | Dip (degrees) | Bottom (m) |
CT23-16 | 609738 | 5809284 | 847 | 055 | -45 | 190.5 |
CT23-17 | 609651 | 5809341 | 854 | 239 | -70 | 169.5 |
CT23-18 | 608472 | 5810077 | 810 | 236 | -60 | 120.7 |
CT23-19 | 608309 | 5809784 | 833 | 038 | -60 | 47.6 |
CT23-20 | 608633 | 5809678 | 838 | 008 | -50 |
Significant Intercepts
Hole id | From (m) | To (m) | Interval (m) | Copper (%) | Gold (g/t) |
CT23-16 | 60.0 | 168.0 | 108.0 | 0.15 | 0.009 |
including | 144.0 | 159.0 | 15.0 | 0.23 | 0.10 |
CT23-18 | 93.0 | 99.0 | 6.0 | - | 0.82 |
CT23-19 | 44.0 | 47.6 | 3.6 | 0.11 | 0.03 |
The area to the south along the trend of themineralization identified in drill holes CT-11-12 and CT23-16 isreferenced in an unpublished internal Cogema Canada report from 1991“a strong total magnetic field anomaly occurs 900 meters southwestof Jim Lowry Lake. This area is flat and completely till covered.Several pieces of proximal float consisting of mineralized biotitediorite and monzodiorite occur in this area”. This area, ± 1,500meters south of hole CT23-16 is well within the property and has seenno recent work and no drilling.
Drill core was assayed in the facilities of MSALabs ofLangley BC using a procedure with multielement Aqua Regia digestionand ICP-AES instrumentation on a 5-gram sample . A second determination for gold using an atomic absorptionfire assay procedure on a 30-gram sample was also completed.
BRS Mining, subject to a December 19, 2022 agreement,has the right to earn a 60% interest in the Cowtrail, copper-gold property. To complete the option BRS is required tocomplete $2,000,000 in exploration expenditures and make $400,000 inoption payments (cash and shares) over a five-year term. On earning a60% interest a joint venture will replace the earn-inagreement. Concurrently with the exercise of the option BRS will grant a royaltyto Cariboo Rose which will come into effect if and when CaribooRose’s participating interest is diluted to less than or equal to15% which at such time will convert to a 2 1 / 2 % NSR (net smelter return) which canbe reduced to 1% by a single payment of $ 2,000,000.
J.W. (Bill) Morton P. Geo, and director within thecontext of the requirements of NI-43-101, is the qualified person whotakes full responsibility for this news release.
About Cariboo Rose Resources Limited
Cariboo Rose owns seven mineral projects in BritishColumbia in addition to Cowtrail they are
-Lightning Strike, shale hosted gold, located east of100 Mile House, 100% owned.
-Carruthers Pass, massive sulfide, located southwest ofKemess Mine, 100% owned.
-Carbonate Hosted Gold, located northwest of Clinton,60% or 70% option to Basin Uranium Corp.
-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.
Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611
For more information, please visit the company’s website at http://www.cariboorose.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.
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