(TheNewswire)
Vancouver, BC - TheNewswire - March 3, 2023 - Cariboo Rose Resources Ltd. “ Cariboo Rose ” ( TSX-V: CRB ) initiated work on its 100% owned Lightning Strike sediment hosted gold silver project in September, 2022following results of 2021 drilling which included 0.62 g/t gold over 38.1 meters and 0.54 g/t gold and 14.8 g/tsilver over 19.8 meters ( released March 7, 2022). Lightning Strike consisting of 14 claimscovering 3,665 hectares is located 60 kilometers northeast of thecommunity of 100 Mile House, BC. The recent program consisted of 11reverse circulation holes (1,466 meters) all collared in overburden. The permissive graphitic shale sequence, with variableconcentrations of quartz and pyrite, was encountered in all holes butonly modest values in gold and silver were obtained. A table ofsignificant results from the current program and a table of historicresults is attached. Topography at Lightning Strike is flat andoutcrop rare. The presence of high concentrations of graphite makesgeophysical exploration techniques complex and consequentlyexploration has been guided singularly by drilling with most of theproperty remaining untested.
2022 Results Include:
Hole Id | From (m) | To (m) | Interval (m) | Gold (g/t) |
LRC22-16 | 21.3 | 22.8 | 1.5 | 0.55 |
LRC22-17 | 35.1 | 36.6 | 1.5 | 0.51 |
and | 68.6 | 70.1 | 1.5 | 0.74 |
and | 97.5 | 103.6 | 6.1 | 0.67 |
LSRC22-19 | 59.4 | 67.1 | 7.7 | 0.51 |
and | 103.63 | 108.2 | 4.6 | 0.54 |
and | 137.2 | 138.7 | 1.5 | 0.85 |
and | 146.3 | 147.8 | 1.5 | 0.81 |
Historic Results Include:
Hole Id | Au (g/t) | Ag (g/t) | Interval (m) |
SC0-21 | 3.42 | 228.1 | 5.0 |
SC0-22 | 0.61 | 6.9 | 21.5 |
SC0-23 | 1.03 | 7.3 | 26.0 |
SC0-25 | 0.77 | 6.6 | |
LRC21-06 | 0.62 | 7.2 | 38.1 |
LRC21-08 | 0.54 | 14.8 | 19.8 |
Drilling was completed by Subterra Exploration ofWhitehorse, Yukon and analytical work by MSALABS of Langley BC usingan aqua regia digestion and a multi-element ICP procedure plus a 30gram gold fire assay with detection by atomic absorption methods.Samples with higher values in gold or silver were further analysedusing metallic screen techniques.
In other business Cariboo Rose and option partner CMP Minerals Inc. “ CMP ” ( CSE: CMP )continued to explore the Coquigold epithermal gold silver project located in southern BC 10 kilometers north ofShovelnose Mountain where Westhaven Gold Corp. has made a significantprecious metal discovery. Soil sampling completed in July, 2022 (453 samples) was followed by an airbornemagnetic, very low frequency electromagnetic and radiometric survey(490 line kilometers) in December. A three hole diamond drillingprogram was finished December 23 in the “D Zone” where bedrocksampling by Cariboo Rose has confirmed anepithermal mineralizing system with samples returning up to 43.1 g/tsilver, >500 ppm arsenic and >100 ppm antimony. Final corecutting and sampling and shipment to the lab has not yet beencompleted. CMP Minerals may earn a 70% interest in Coquigold bymaking option payments totaling $250,000 cash,issuing 200,000 common shares, paying an additional $250,000 value incash or shares and incurring $2,000,000 in exploration expenditures byDec 22, 2025.
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. A summary of other projects is as follows:
Carruthers Pass, 100% owned subject to an option with Vizsla Copper Corp.( TSX-V: VSU ) who may earn a60% interest by making payments of $650,000 and completing $3,000,000in exploration. Sediment hosted massive sulfide mineralization wasdiscovered by Freeport McMoRan Copper and Gold in 1997 A 100% interestin Carruthers Pass was acquired by Cariboo Rose from Freeport McMoRanExploration in 2011 The property is located in northern BC south ofthe Kemess copper-gold mine Most significant to the project is amineralized slab of rock weighing several hundred tonnes protrudingfrom talus with a drill intercept through it of 3.1 meters grading6.2% copper, 5.8% zinc, 2.37 g/t gold and 192.0 g/t silver, numerousuntested geochemical and geophysical targets. The project is fullypermitted. A VTEM airborne geophysical survey and three diamond drillholes were completed late in 2022 at a cost of approximately $2.0million.
CHG, 100% ownedsubject to an option with Basin Uranium Corp.( CSE: NCLR ) who may earna 60% interest by making payments of $300,000 and completing$1,500,000 in exploration by Nov, 2025 and thereafter an additional 10% interest by completing a bankablefeasibility study within 24 months. CHG is located in southern BC nearthe community of Clinton. CHG (short for Carbonate Hosted Gold) isdrained to the east by three creeks with very strong gold siltanomalies in a predominantly limestone terrane. A VTEM airbornegeophysical survey was completed by Geotech Airborne Surveys in 2021and indicates a number of resistivity and magnetic anomalies. BasinUranium recently advised the company that it plans to drill before theend of March, 2023. The project is fully permitted for drilling
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 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. The project was optioned to BRS Resources Ltd in November 2022 who may earn a 60% interest over a fouryear term by making payments totalling $400,000 and completing$2,000,000 in exploration. The project is fully permitted. A diamonddrill is planned for early in 2023.
Koster Dam, 55%owned by Cariboo Rose and 45% by ISM Resources Corp. ( CSE: ISM ) 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
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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