(TheNewswire)
Vancouver, BC – TheNewswire - Dec 14, 2020 - Cariboo Rose Resources Ltd.(“Cariboo Rose”) ( TSXV: CRB ) is providing an update on its Lightning Strike sedimenthosted gold project located in the Cariboo Region of BC. In 2020 workwas focused on expanding soil survey coverage to the south and west ofgrids established in 2019. A total of approximately 2,000 samples werecollected. Results indicate a gold anomaly extending approximately1500 metres in a north south orientation and 1,000 metres in an eastwest orientation. Anomalous gold values range from 12 ppb to 480 ppband constitute approximately 12% of the population. A larger soilsilver anomaly is coincident with the gold anomaly excepting that itextends further on the northwest side (anomalous silver values rangefrom 2.0 ppm to 13.5 ppm with 70 samples exceeding 3.0 ppm). Coincident gold and silver is considered encouraging as it occurs ina number of historic drill holes on the Lightning Strike propertyexemplified by diamond drill hole SC021 drilled by Spanish MountainGold Corp. in 2009. This hole returned a 3.8 meter intercept grading4.54 g/t gold and 60.2 g/t silver with mineralization hosted in blackphyllite. [Figures showing the gold and silver anomalies have beenposted on the company’s web page.]
Shale hosted gold deposits, also called sediment hostedvein deposits, are one of the most attractive models for large golddeposits in the world and include the giant Murantau and Sukoy Logdeposits in Russia. Similar styles of gold mineralization locallyinclude the FG Gold Project located 35 kilometers to the north (KoreMining Ltd.) and the Spanish Mountain Gold Project located 95kilometers to the northwest (Spanish Mountain Gold Corp). Both theFG Gold Project and the Spanish Mountain Gold Project are currentlybeing actively explored. In 2020 Eric Sprott (through a privatelyowned corporation) completed investments in both Kore Mining Ltd andSpanish Mountain Gold Corp.
On Oct 30, 2020 the Ministry of Energy, Mines andPetroleum Resources issued a multiyear exploration permit to CaribooRose for the Lightning Strike project allowing the construction ofaccess trails, mechanical test pitting and diamond drilling. Fieldwork is planned to renew as soon as winter conditions abate.
Images can be viewed at: https://www.cariboorose.com/projects/lightning-strike/
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 six mineral projects in BritishColumbia. Projects include Pat and Cowtrail, prospective forcopper-gold porphyry mineralization (contiguous with ConsolidatedWoodjam Copper), Carruthers Pass, prospective forcopper-zinc-silver-gold-cobalt massive sulfide mineralization,Coquigold and Koster Dam, prospective for epithermal silver-goldmineralization and Carbonate Hosted Gold, prospective for Carlin stylegold mineralization.
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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