(TheNewswire)
Vancouver, BC - TheNewswire - Feb 23, 2023 - Cariboo Rose Resources Ltd. (“Cariboo Rose”) ( TSXV: CRB ) has been provided a 2022exploration summary report of work completed at Carruthers Pass by Vizsla Copper Corp. (“Vizsla Copper”) (TSX-V: VCU ) and has been advised that Vizsla will continue with theoption. On Feb 17, 2023 Vizsla made the $40,000 second anniversaryoption payment and arranged for the issuance of $35,000 (value of) inits shares.
The 2023 program with an expenditure of $1,950,000 included a VTEMhelicopter borne electromagnetic and aeromagnetic survey followed by afour hole NQ drill program (1,345m). Drill holes were then surveyeddownhole with a bore hole transient EM procedure which successfullylocated an off hole conductor in hole CP22-17. The results from thedrill program are encouraging and of particular interest is thediscovery of massive sulfide layers in drill hole CP22-17, within astrong helicopter borne Versatile Time Domain Electromagnetic (VTEM)conductor. The massive sulfide layers are composed dominantly ofpyrite and/or pyrrhotite, and may represent distal facies of a basemetal rich VMS deposit.
Results of drilling completed in 2022 are as follows:
Hole ID | Bottom (m) | Azimuth ( o ) | Dip ( o ) | GPS east | GPS west |
CP22-15 | 255.1 | 90 | -70 | 667406 | 6250779 |
CP22-16 | 68.6 | 340 | -50 | 667037 | 6250189 |
CP22-16B | 552.0 | 340 | -65 | 667037 | 6250189 |
CP22-17 | 469.4 | 330 | -85 | 667262 | 6251333 |
Mineralized Intercepts
CP22-15 :
From 208.0m, 1m @ 1,460 ppm zinc and 3.52 g/t silver
From 214.0m, 1m @ 2,014 ppm zinc
From 223.0m, 1m @ 1,375 ppm zinc
CP22-16B :
From 313.9m, 0.5m @ 2,290 ppm copper
From 424.5m, 1m @ 1,429 ppm zinc
From 439.5m, 1m @ 2,150 ppm copper
From 442.5m, 1.5m @ 1,735 ppm zinc
From 549.5m, 2.2m @ 2,227 ppm zinc
CP22-17 :
From 86.1m, 1m @ 1,250 ppm zinc
From 321.0m, 1m @ 1,030 ppm zinc and 5.56 ppm silver
From 370.0m, 0.5m @ 1,045 ppm copper
Vizsla Copper may earn a 60% interest in the CarruthersPass, copper-zinc-sliver-gold and cobalt property locatedapproximately 75 kilometers southeast of the former producing Kemesscopper gold mine (190 km northeast of Smithers BC) by completing$3,000,000 in exploration expenditures and paying $650,000 in cash andshares over a five year term.
Carruthers Pass is a shale hosted massive sulfideproject (base and precious metal), discovered in 1997 by the PhelpsDodge Corporation of Canada (now Freeport McMoRan Copper and GoldInc.). Cariboo Rose Resources Ltd. acquired Carruthers Pass in 2003through an option agreement with Phelps Dodge and earned a 100%interest in the project in 2011 (subject to a 2.5% net smelterinterest reducible to 1.0% for $1.5M). Most significant to theproject is a mineralized slab of rock protruding from talus in theupper reaches of a valley below gossanous cliffs. In 2011 themineralized slab was core drilled. An intercept of 3.1 meters grading6.2% copper, 5.8% zinc, 2.37 g/t gold and 192.0 g/t silver wasobtained before the drill bit passed through massive sulfide and intounconsolidated material. Although the in situ source of themineralized slab has not been located it is almost certainly local. Nofurther work was completed at Carruthers Pass between 2011 and thecurrent program.
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
Other Projects:
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 GoldProject located 35 kilometers to the north owned by Karus Gold Corp.Shale hosted orogenic gold deposits are one of the most attractivemodels for large gold deposits in the world and include the giantMurantau and Sukoy Log deposits in Russia. Seven historic drillholes on the Lightning Strike claims include intercepts of 3.42 g/t gold and 228.1 g/tsilver over 5.0 meters , 0.77 g/t gold over 20.0meters and 19.30 g/t gold over 1.5 meters. Reverse circulation (RC)drill holes completed by in 2021 by Cariboo Rose included results of 0.62 g/t gold and 7.2 g/tsilver over 38.0 meters including 1.43 g/t gold and 16.3 g/t silver over 10.6meters and 0.54 g/t gold and 14.8 g/t silver over 19.8meters . The project is fully permitted. 11 drillholes (1,500 meters) of drilling were completed in early October(final analysis currently in progress).
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 inexploration expenditures, over a four year period. In May, 2022 453 soil samples were collected and inDecember, 2022 a helicopter-borne magneticgradient, radiometric, and VLF-EM survey (451 line kilometers)completed followed by a 3 hole diamond drill program (274 meters) inDecember (logging, sampling and analysis still incomplete).
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 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.
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 advised the company that it willcontinue with the option with plans to drill before the end of March,2023. The project is fully permitted for drilling.
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.
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. Readers are advised that thisnews release contains a number of forward looking statements that maynot occur to fruition.
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