(TheNewswire)
Vancouver, BC – TheNewswire - Sept 16 , 2022 - Cariboo Rose ResourcesLtd. (“Cariboo Rose”) ( TSXV: CRB ) (OTC:CROOF) has resumedreverse circulation drilling at its 100% owned Lightning Strikegold-silver project located in the Cariboo region of BC, 70 kilometersnortheast of the community of 100 Mile House.
Lightning Strike is a shale hosted gold projectapproximately 95 kilometers southeast of the Spanish Mountain projectowned by Spanish Mountain Gold Ltd. ( TSX-V: SPA ) and 35kilometers south of the Fraser Gold project owned by Karus Gold Corp.Lightning Strike, Frasergold and Spanish Mountain share a commongeological setting in a Triassic aged shale-siltstone sequence. AtLightning Strike significant gold mineralization is also commonlyaccompanied with significant accessory silver (example 72.8 g/t silverover 1.52 meters being the maximum value of single core sample fromthe 2021 program).
Lightning Strike occurs in a flat to undulatinglandscape at an elevation of approximately 1,000 meters (3,300 feet)where outcrop is essentially nonexistent and where targets areblind.
Significant drill intercepts from the 2021 program(previously reported) included:
LSRC21-06 | 0.62 g/t Gold over 38.1 m (91.4-129.5 m) |
including | |
1.43 g/t Gold and 16.3 g/t Silverover 10.6 m (108.2 to 118.9 m) | |
LSRC21-08 | 0.54 g/t Gold and 14.8 g/t Silverover 19.8 m (64.0-83.8 m) |
including | |
1.00 g/t Gold and 34.2 g/t Silverover 7.6 m (74.7-82.3 m) |
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 Asia with resources of ±80million ounces and ±20 million ounces gold each.
It is estimated that 1,500 meters of drilling will becompleted in the current program (±10 holes).
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
.
AboutCariboo Rose Resources Limited
Cariboo Rose owns seven mineral projects in BritishColumbia. A summary of these projects is as follows:
Lightning Strike , 100% owned shalehosted gold silver project modelled on the Spanish Mountain GoldProject located in similar rocks 95 kilometres to the northwest ownedby Spanish Mountain Gold Ltd. ( TSX-V: SPA ) and theFG Gold Project located 35 kilometers to the north owned by KarusGold Corp.. 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. Eleven reverse circulation (RC) drill holes were completedin September, 2021. Significant gold-silver results were obtained infour of these holes including 7.2 g/t silver and 0.62 g/t gold over38.1 meters in hole LSRC21-06 and 34.2 g/t silver and 1.00 g/t goldover 7.6 meters in hole LSRC21-08.
Carruthers Pass , 100% owned subjectto an option with Vizsla Copper Corp. (TSX-V:VSU) (a spinout fromVizsla Silver completed Sept 30, 2021) who may earn a 60% interest bymaking payments of $650,000 and completing $3,000,000 in exploration,sediment hosted massive sulfide discovered by Freeport McMoRan Copperand Gold in 1997, a 100% interest was acquired by Cariboo Rose fromFMC in 2011, located in northern BC south of the Kemess copper-goldmine, most significant to the project is a mineralized slab of rockweighing several hundred tonnes protruding from talus with a drillintercept through it of 3.1 meters grading 6.2% copper, 5.8% zinc,2.37 g/t gold and 192.0 g/t silver. An airbornegeophysical survey was completed early in the 2022 field season whichwill guide a planned September drill program. The project is fullypermitted.
Cowtrail , 100% owned, locatedin southcentral BC, contiguous with the Woodjam copper-gold porphyryproject owned by Consolidated Woodjam Copper. Reconnaissance drilltesting of extensive induced polarization anomalies (vintage 1997,2004 and 2006) define a vector of mineralization trending to the westbeyond the area drilled. Significant drill intercepts include 1.16 g/tgold over 18.3m and 0.17% 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 in 2021with 813 new samples and a further 173 in 2022. On May31, 2022 BRS Mining Resources Ltd was granted an option whereby it canearn a 60% interest in Cowtrail by making combined cash and sharepayments of $400,000 and completing $2,000,000 in work over a fouryear term. The project is fully permitted.
Coquigold, 100% owned, epithermal gold (quartz-adularia) located insouthern BC 10 kilometers 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% was granted to CMP Minerals Inc. who are required to makeoption payments totaling $250,000 cash; issue 200,000 common shares;pay an additional $250,000 in cash or shares and incur $2,000,000 inexploration expenditures, over a period of four years. An explorationexpenditure of $300,000 is required in the first year.
CHG , 100% owned subjectto 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 by completing a bankablefeasibility study within 24 months. CHG is located in southern BC nearthe community of Clinton. CHG (short for Carbonate Hosted Gold) isdrained to the east by three creeks with very strong gold siltanomalies in a predominantly limestone terrane. A VTEM airbornegeophysical survey was completed by Geotech Airborne Surveys inSeptember, 2021. The project is fully permitted.
Koster Dam , 55% owned byCariboo Rose and 45% by ISM Resources Corp (formerly Ameriwest LithiumInc.) is located in southern BC 10 kilometers north of the formerproducing Blackdome gold-silver mine (now owned by Australia basedTempus Resources Ltd.). 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 and chalcedonic quartzin outcrop. A Triaxial magnetic survey and a liDar Survey werecompleted in 2021 indicating a number of linear features in thegeneral vicinity of anomalous rubble, soil andsilt results (gold, silver and arsenic). A reconnaissanceprospecting and soil sampling program was completed in August, 2022with 530 soil samples collected which are currently beinganalysed. The project is fully permitted.
Pat , 100% owned, stakedby Cariboo Rose in 2004, located in southcentral BC contiguous withthe Woodjam copper-gold porphyry project owned by Consolidated WoodjamCopper covers a very strong unexplained magnetic airborne anomaly inprospective Nicola Group volcanic rocks.
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