(TheNewswire)
Vancouver, BC – TheNewswire - Sept 8, 2021 - Cariboo Rose Resources Ltd. (“Cariboo”) ( TSXV: CRB ) ( OTC: CROOF ) has begundrilling at its 100% owned Lightning Strike project located in theCariboo Region of southcentral BC approximately 60 kilometersnortheast of the community of 100 Mile House. The 2021 programis using reverse circulation technology and will entail approximately1,500 meters of drilling in holes expected to average approximately150 meters in length.
Lightning Strike is a shale hosted gold project located approximately35 kilometers south of the Fraser Gold project currently beingexplored by Karus Gold Corp, formerly part of Kore Mining Limited( TSX-V: KORE ) and 95 kilometerssoutheast of the Spanish Mountain project currently being explored bySpanish Mountain Gold Ltd. ( TSX-V: SPA ). Lightning Strike, Frasergold and SpanishMountain share a common geological setting in a Triassic agedshale-siltstone sequence where gold mineralization is attributed tothe orogenic model.
Gold mineralization in the area of Lightning Strike was first reportedby Homestake Development Corporation in 1984 with the discovery of asignificant soil gold anomaly underlain by shale and siltstone fromwhich quartz carbonate boulders grading up to 25.10 g/t gold and 216.8g/t silver were sampled. Homestake subsequently concluded(incorrectly) that the anomalous soils and boulders were occurring intransported glacial till. In 2006 Skygold Ventures Ltd. (later SpanishMountain Gold Ltd.) staked this area and completed mechanicaltrenching and drilling in 2008 and 2010. Seven drill holes completedin this period are located on the Lightning Strike claims and includeintercepts of 4.54 g/t gold and 60.2 g/t silver over 3.8 meters, 1.03g/t gold over 26.0 meters, 0.77 g/t gold over 20.0 meters, 19.30 g/tgold over 1.5 meters and 0.77 g/t gold over 54 meters.
Shale hosted orogenic gold deposits, also called sediment hosted veindeposits, are one of the most attractive models for large golddeposits in the world and include the giant Murantau and Sukoy Logdeposits in Russia with resources of ±80 million ounces and ±20million ounces gold each.
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 BritishColumbia. A summary of these projects is as follows:
Carruthers Pass , 100% owned subject to an option with Northbase Resources Inc. (a spinout from Vizsla Silver) 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 was acquired by Cariboo Rose from FMC in 2011,located in northern BC south of the Kemess copper-gold mine, mostsignificant to the project is a mineralized slab of rock weighingseveral hundred tonnes protruding from talus with a drill interceptthrough it of 3.1 meters grading 6.2% copper, 5.8% zinc, 2.37 g/t goldand 192.0 g/t silver, numerous untested geochemical and geophysicaltargets.
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, trenching is planned for 2021.
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. Results for 900 soil samples collected earlier in 2021 arepending. Tis project is fully permitted.
CHG, 100% ownedsubject to an option with Black Shield MetalsCorp. who may earn a 60% interest by making payments of $300,000 andcompleting $1,500,000 in exploration by Nov, 2025 and thereafter an additional 10% interest by completing abankable feasibility study within 24 months. CHG is located insouthern BC near the community of Clinton, CHG (short for CarbonateHosted Gold) is drained to the east by three creeks with very stronggold silt anomalies in a predominantly limestone terrane. A contractwith Geotech Airborne Surveys to complete a VTEM survey has beensigned. CHG is fully permitted.
Koster Dam, 55%owned (Ameriwest Lithium Inc. 45%), located in southern BC 10kilometers north of the former producing Blackdome gold mine, volcanichosted gold target related to the Fraser River Fault system, recentprograms have located areas of >1 gram/t gold in rubble andchalcedonic quartz in outcrop. A Triaxial magnetic survey and a liDarSurvey were completed in June of this year with data currently beinginterpreted. Koster Dam is fully 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, very strong unexplained magnetic airborneanomaly in prospective Nicola Group volcanic rocks.
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