(TheNewswire)
Vancouver, BC – TheNewswire - June 9 , 2023 - Cariboo Rose Resources Ltd.(“Cariboo Rose”) ( TSXV: CRB ) is pleased to announce theappointment of Gavin Titley to the Board of Directors. Gavin iscurrently an Exploration Manager for NorthWest Copper, aVancouver-based copper-gold explorer and developer operating inBritish Columbia. Gavin holds degrees in Geology and English from theUniversity of Victoria and has more than a decade of experienceworking on a variety of exploration projects in BC and YukonTerritory. His previous employers include Eastfield Resources, ArcherCathro & Associates, and Equity Exploration and MincordExploration Consultants.
Cariboo Rose has granted Mr Titley incentive stockoptions to purchase up to 200,000 shares of Cariboo Rose at a price of$0.05 per share, exercisable for a period of five years.
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
Please refer to our website for more detail: www.cariboorose.com
About Cariboo Rose ResourcesLimited
Cariboo Rose owns seven mineral projects in BritishColumbia. A summary of these projects is as follows:
Lightning Strike, 100% owned shale hosted gold silver project modelled on theSpanish Mountain Gold Project located in similar rocks 95 kilometresto the northwest owned by Spanish Mountain GoldLtd. ( TSX-V: SPA ) and the FG Gold Project located 35 kilometers to the north owned by Karus Gold Corp. Shale hosted orogenic gold deposits areone of the most attractive models for large gold deposits in the worldand include the giant Murantau and Sukoy Log deposits in Russia. Seven historic drill holes on the Lightning Strike claims includeintercepts of 3.42 g/t goldand 228.1 g/t silver over 5.0 meters , 0.77 g/tgold over 20.0 meters and 19.30 g/t gold over 1.5 meters. Reversecirculation (RC) drill holes completed in 2021 by Cariboo Roseincluded results of 0.62 g/tgold and 7.2 g/t silver over 38.0 metersincluding 1.43 g/t gold and16.3 g/t silver over 10.6 meters and 0.54 g/t gold and 14.8 g/tsilver over 19.8 meters . The project is fullypermitted. 11 drill holes (1,500 meters) of drilling was completed inearly October, 2022.
Carruthers Pass, 100% owned subject to an option with Vizsla Copper Corp.( TSX-V: VSU) who may earn a 60% interest by making payments of $650,000and completing $3,000,000 in exploration. Sediment hosted massivesulfide mineralization was discovered by Freeport McMoRan Copper andGold in 1997 A 100% interest in Carruthers Pass was acquired byCariboo Rose from Freeport McMoRan Exploration in 2011 The property islocated 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 metersgrading 6.2% copper, 5.8% zinc, 2.37 g/t gold and 192.0 g/tsilver , numerous untested geochemical andgeophysical targets. The project is fully permitted. A VTEM airbornegeophysical survey and four diamond drill holes were completed late in2022 at a cost of approximately $2.0 million.
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% interest wasgranted to CMP Minerals Inc. who must make option payments totaling$250,000 cash; issue 200,000 common shares; payan additional $250,000 in cash or shares and incur $2,000,000 in exploration expenditures, over a four yearperiod. In May, 2022 453 soil samples werecollected and in December, 2022 a helicopter-borne magnetic gradient, radiometric, and VLF-EMsurvey (451 line kilometers) completed followed by a 3 hole diamonddrill program (274 meters) in December (logging, sampling and analysisstill in progress).
Cowtrail, 100%owned, located in southcentral BC, contiguous with the Woodjamcopper-gold porphyry project owned by Vizsla Copper Corp.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 and 0.17% copper and0.11 g/t gold over 40.0m . An untested soil goldarsenic anomaly with coincident strong IP is located a further 2km tothe west. The project was optioned to BRS Resources Ltd in November2022 who may earn a 60% interest over a four year term by makingpayments totalling $400,000 and completing $2,000,000 in exploration.The project is fully permitted. A diamond drill program is currentlyunderway.
CHG, 100% ownedsubject to 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 bycompleting a bankable feasibility study within 24 months. CHG islocated in southern BC near the community of Clinton. CHG (short forCarbonate Hosted Gold) is drained to the east by three creeks withvery strong gold silt anomalies in a predominantly limestone terrane.A VTEM airborne geophysical survey was completed by Geotech AirborneSurveys in 2021 and indicates a number of resistivity and magneticanomalies. Basin Uranium recently completed the first four holes ofseven hole reverse circulation drill program.
Koster Dam, 55%owned by Cariboo Rose and 45% by ISM Resources Corp. is located insouthern BC 10 kilometers north of the former producing Blackdome goldmine. The target at 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, greater than 3.0 g/tgold in silt and chalcedonic quartz in outcrop. A Triaxial magneticsurvey and a liDar Survey were completed in 2021. Preliminary reviewindicates a number of linear features in the general vicinity ofanomalous rubble, soil and silt results (gold, silver and arsenic). Tripoint Geoservices of Kelowna completed a program of additionalgeochemical surveying and prospecting in 2022. The project is fullypermitted for drilling.
Pat, 100%owned, staked by Cariboo Rose in 2004, located in southcentral BC iscontiguous with the Woodjam copper-gold porphyry project owned byVizsla Copper Corp. covers a very strong unexplained magnetic airborneanomaly in prospective Nicola Group volcanic rocks. Vizsla Copperholds a first right of refusal on the property.
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
Copyright (c) 2023 TheNewswire - All rights reserved.