New Addition to the Board of Directors
Vancouver, BC – TheNewswire - June 9, 2023 - Cariboo Rose Resources Ltd. (“Cariboo Rose”) (TSXV:CRB) is pleased to announce the appointment of Gavin Titley to the Board of Directors. Gavin is currently an Exploration Manager for NorthWest Copper, a Vancouver-based copper-gold explorer and developer operating in British Columbia. Gavin holds degrees in Geology and English from the University of Victoria and has more than a decade of experience working on a variety of exploration projects in BC and Yukon Territory. His previous employers include Eastfield Resources, Archer Cathro & Associates, and Equity Exploration and Mincord Exploration Consultants.
Cariboo Rose has granted Mr Titley incentive stock options 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.
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: email@example.com
Please refer to our website for more detail: www.cariboorose.com
About Cariboo Rose Resources Limited
Cariboo Rose owns seven mineral projects in British Columbia. A summary of these projects is as follows:
Lightning Strike, 100% owned shale hosted gold silver project modelled on the Spanish Mountain Gold Project located in similar rocks 95 kilometres to the northwest owned by Spanish Mountain Gold Ltd. (TSX-V: SPA) and the FG Gold Project located 35 kilometers to the north owned by Karus Gold Corp. Shale hosted orogenic gold deposits are one of the most attractive models for large gold deposits in the world and include the giant Murantau and Sukoy Log deposits in Russia. Seven historic drill holes on the Lightning Strike claims include intercepts of 3.42 g/t gold and 228.1 g/t silver over 5.0 meters, 0.77 g/t gold over 20.0 meters and 19.30 g/t gold over 1.5 meters. Reverse circulation (RC) drill holes completed in 2021 by Cariboo Rose included results of 0.62 g/t gold and 7.2 g/t silver over 38.0 meters including 1.43 g/t gold and 16.3 g/t silver over 10.6 meters and 0.54 g/t gold and 14.8 g/t silver over 19.8 meters. The project is fully permitted. 11 drill holes (1,500 meters) of drilling was completed in early 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 $650,000 and completing $3,000,000 in exploration. Sediment hosted massive sulfide mineralization was discovered by Freeport McMoRan Copper and Gold in 1997 A 100% interest in Carruthers Pass was acquired by Cariboo Rose from Freeport McMoRan Exploration in 2011 The property is located in northern BC south of the Kemess copper-gold mine Most significant to the project is a mineralized slab of rock weighing several hundred tonnes protruding from talus with a drill intercept 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 and geophysical targets. The project is fully permitted. A VTEM airborne geophysical survey and four diamond drill holes were completed late in 2022 at a cost of approximately $2.0 million.
Coquigold, , 100% owned, epithermal gold (quartz-adularia) located in southern BC 10 kilometers north of Shovelnose Mountain (Westhaven Gold Corp.-Shovelnose discovery). Central to Coquigold is an area where in 2008 the BC Geological Survey identified and sampled quartz sinter and several areas of silicified (chalcedonic) volcanic and intrusive breccia, bedrock sampling in 2019 by Cariboo Rose confirmed an epithermal mineralizing event with bedrock samples returning up to 43.1 grams per tonne silver, 559 ppm arsenic, 13,400 ppb mercury and 101ppm antimony. In December 2021 an option to earn a 70% interest was granted to CMP Minerals Inc. who must make option payments totaling $250,000 cash; issue 200,000 common shares; pay an additional $250,000 in cash or shares and incur $2,000,000 in exploration expenditures, over a four year period. In May, 2022 453 soil samples were collected and in December, 2022 a helicopter-borne magnetic gradient, radiometric, and VLF-EM survey (451 line kilometers) completed followed by a 3 hole diamond drill program (274 meters) in December (logging, sampling and analysis still in progress).
Cowtrail, 100% owned, located in southcentral BC, contiguous with the Woodjam copper-gold porphyry project owned by Vizsla Copper Corp. Reconnaissance drill testing of extensive induced polarization anomalies (vintage 1997, 2004 and 2006) define a vector of mineralization trending to the west beyond the area drilled. Significant drill intercepts include 1.16 g/t gold over 18.3m and 0.17% copper and 0.11 g/t gold over 40.0m. An untested soil gold arsenic anomaly with coincident strong IP is located a further 2km to the west. The project was optioned to BRS Resources Ltd in November 2022 who may earn a 60% interest over a four year term by making payments totalling $400,000 and completing $2,000,000 in exploration. The project is fully permitted. A diamond drill program is currently underway.
CHG, 100% owned subject 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 and thereafter an additional 10% interest by completing a bankable feasibility study within 24 months. CHG is located in southern BC near the community of Clinton. CHG (short for Carbonate Hosted Gold) is drained to the east by three creeks with very strong gold silt anomalies in a predominantly limestone terrane. A VTEM airborne geophysical survey was completed by Geotech Airborne Surveys in 2021 and indicates a number of resistivity and magnetic anomalies. Basin Uranium recently completed the first four holes of seven hole reverse circulation drill program.
Koster Dam, 55% owned by Cariboo Rose and 45% by ISM Resources Corp. is located in southern BC 10 kilometers north of the former producing Blackdome gold mine. The target at Koster Dam is a volcanic hosted gold target related to the Fraser River Fault system. Recent programs have located areas of greater than 1.0 gram/t gold in rubble, greater than 3.0 g/t gold in silt and chalcedonic quartz in outcrop. A Triaxial magnetic survey and a liDar Survey were completed in 2021. Preliminary review indicates a number of linear features in the general vicinity of anomalous rubble, soil and silt results (gold, silver and arsenic). Tripoint Geoservices of Kelowna completed a program of additional geochemical surveying and prospecting in 2022. The project is fully permitted for drilling.
Pat, 100% owned, staked by Cariboo Rose in 2004, located in southcentral BC is contiguous with the Woodjam copper-gold porphyry project owned by Vizsla Copper Corp. covers a very strong unexplained magnetic airborne anomaly in prospective Nicola Group volcanic rocks. Vizsla Copper holds a first right of refusal on the property.
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