(TheNewswire)
Vancouver, BC – TheNewswire - January 11, 2022, Cariboo Rose ResourcesLtd. (“Cariboo Rose”) ( TSXV: CRB ) announces that Alan Scott has resigned asDirector of the Company effective December 31, 2021 where he hasserved since 2008. Alan has been a valuable resource for Cariboo Roselargely through his expertise in the field of geophysics with much ofhis career spent as a staff Geophysicist with Cominco Ltd. CaribooRose thanks Alan for his many years of assistance and guidance andwishes him health and prosperity in the future.
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 and has cash and marketable securities of approximately $1.0million. A summary 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.
Carruthers Pass, 100% owned subject to an option with Vizsla Copper Corp.(TSX-V:VSU) (a spinout from Vizsla Silver completed Sept 30, 2021) whomay earn a 60% interest by making payments of $650,000 and completing$3,000,000 in exploration, sediment hosted massive sulfide discoveredby Freeport McMoRan Copper and Gold in 1997, a 100% interest wasacquired by Cariboo Rose from FMC in 2011, located in northern BCsouth of the Kemess copper-gold mine, most significant to the projectis a mineralized slab of rock weighing several hundred tonnesprotruding from talus with a drill intercept through it of 3.1 metersgrading 6.2% copper, 5.8% zinc, 2.37 g/t gold and 192.0 g/t silver,numerous untested geochemical and geophysical targets.
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. Anuntested soil gold arsenic anomaly with coincident strong IP islocated a further 2km to the west. The soil grid at Cowtrail wasexpanded with 813 new samples in 2021. The project is fullypermitted.
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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