(TheNewswire)
Vancouver, BC – TheNewswire - March 7 , 2022 - Cariboo Rose ResourcesLtd. (“Cariboo Rose”) ( TSXV: CRB ) ( OTC: CROOF ) reports on recent reversecirculation drill results at its 100% owned Lightning Strikegold-silver project located in the Cariboo region of BC, 70 kilometersnortheast of the community of 100 Mile House. The project occurs in aflat to undulating landscape at an elevation of approximately 1,000meters (3,300 feet) where outcrop is essentially nonexistent andresults are consequently from blind targets.
Lightning Strike is a shale hosted gold project approximately 35kilometers south of the Fraser Gold project owned by Karus Gold Corp.and 95 kilometers southeast of the Spanish Mountain project owned bySpanish Mountain Gold Ltd. ( TSX-V: SPA ). Lightning Strike,Frasergold and Spanish Mountain share a common geological setting in aTriassic aged shale-siltstone sequence. At Lightning Strikesignificant gold mineralization is also commonly accompanied withaccessory silver (72.8 g/t over 1.52 meters maximum value thisprogram). Significant drill intercepts from the 2021 program are asfollows:
.
LSRC21-06 | 7.2 g/t Ag and 0.62 g/t Au over 38.1m (91.4-129.5 m) |
including | |
11.0 g/t Ag and 0.95 g/t Au over 21.3m (108.2 to 129.5 m) | |
including | |
16.3 g/t Ag and 1.43 g/t Au over 10.6m (108.2 to 118.9 m) | |
including | |
6.1 g/t Ag and 2.69 g/t Au over 4.6 m (109.7 to 114.3 m) | |
and | |
4.9 g/t Ag and 1.48 g/t Au over 3.0m (126.5 to 129.5 m) | |
LSRC21-07 | 6.8 g/t Ag and 0.34 g/t Au over 10.6m (126.5-137.2 m) |
including | |
1.8 g/t Ag and 1.38 g/t Au over 1.5m (135.6-137.2 m) | |
LSRC21-08 | 14.8 g/t Ag and 0.54 g/t Au over 19.8m (64.0-83.8 m) |
including | |
34.2 g/t Ag and 1.00 g/t Au over 7.6m (74.7-82.3 m) | |
and | |
12.8 g/t Ag and 0.12 g/t Au over 1.5m (105.2-106.7 m) | |
LSRC21-09 | 2.0 g/t Ag and 0.77 g/t Au over 1.5 m (106.7-108.2 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.
Plans to follow up the 2021 success are being formalized
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
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 reversecirculation (RC) drill holes were completed in September, 2021.Significant gold-silver results were obtained in four of these holesincluding 7.2 g/t silver and 0.62 g/t gold over 38.1 meters in holeLSRC21-06 and 34.2 g/t silver and 1.00 g/t gold over 7.6 meters inhole 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, numerous untested geochemical andgeophysical targets. The project is fullypermitted with drilling anticipated in 2022.
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 with 813 new samples in 2021. The project is fully permitted.The project is fully permitted.
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. 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 bankable feasibility study within 24months. CHG is located in southern BC near the community of Clinton.CHG (short for Carbonate Hosted Gold) is drained to the east by threecreeks with very strong gold silt anomalies in a predominantlylimestone terrane. A VTEM airborne geophysical survey was completed byGeotech Airborne Surveys in September, 2021 with data currently beingprocessed. The project is fully permitted.
Koster Dam , 55% owned byCariboo 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). Work will continueonce snow dissipates. 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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