(TheNewswire)
Vancouver, BC – TheNewswire - Feb 20 , 2024 - Cariboo Rose Resources Ltd.(“Cariboo Rose”) ( TSXV: CRB ) has beenadvised by Basin UraniumCorp. ( CSE: NCLR ) ( “BasinUranium ”) , who are earning an interest in the Carbonate Hosted GoldProject (“ CHG ”), that diamond drilling is expected to start before theend of the month.
In 2021 a VTEM airborne geophysical survey wascompleted by Geotech Airborne Surveys over the Carbonate Hosted Gold(CHG) claim block located near the community of Clinton, BC andidentified a number of resistivity and magnetic anomalies near thetopographical high end of three silt alluvial dispersion trains. Aninitial test of some of these conductors was attempted in March 2023using reverse circulation techniques. This drilling was unsuccessfulowing to the inability of the reverse circulation drill to penetratethe overburden with all seven holes abandoned in till at depthsranging from 43 to 64 meters. The current drill program will againtarget these same anomalies using a diamond drill provided by Paradigmdrilling of Kamloops, BC., It is anticipated, subject to costsincurred, that 500 to 600 meters will be drilled.
CHG is located in southern BC in a semiarid setting onthe east slope of the Marble Range. A key contributor to thegeological concept of CHG is the permissiveness of gold mineralizationto carbonate rocks (silty sediments and limestone) as demonstrated bythe Muddy Lake deposit in northern BC, the Rackla gold project in theYukon Territory and the numerous gold deposits in Nevada. Sinceinitiating exploration in 2013 Cariboo Rose has targeted three smalldrainages sourcing in the Marble Range (limestone dominant) thatreturned highly anomalous gold analysis in silt with numerous samplesreturning values ranging from 100 ppb to 929 ppb gold in silt and togreater than 10,000 ppb gold in sluiced silt. These east-flowingdrainages source from an area approximately 8 kilometers wide. Aninteresting observation on the potential of CHG is an excerpt from theReport to the Minister of Mines [British Columbia] 1886 referencingG.M. Dawson of the Geological Survey of Canada; From the report:“Specimens of a jaspery quartz containing free gold and assaying$300 to the ton have been found in the early part of this year inthree separate locations within the surveyed bounds of the town ofClinton....” (readers are cautioned to treat this reference withcaution owing to its time frame and rudimentary context).
Basin Uranium may earn a 60% interest in CHG by makingpayments of $300,000 and completing $1,500,000 in exploration by Dec31, 2027 ($850,000 now completed) and thereafter an additional 10%interest by completing a bankable feasibility study within 24months.
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
AboutCariboo Rose Resources Limited
Cariboo Rose owns seven mineral projects in BritishColumbia. In addition to Carbonate Hosted Gold these are:
-Lightning Strike, shale hosted gold, located east of100 Mile House, 100% owned.
-Carruthers Pass, massive sulfide, located southwest ofKemess Mine, 100% owned.
-Cowtrail, contiguous with Woodjam project (VizslaCopper Corp), 60% option to BRS Mining Resources.
-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.
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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