Airborne Geophysical Survey Completed on CHG Gold Project

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(TheNewswire)



 

Vancouver, B.C. - TheNewswire - October 1, 2021 – Cariboo Rose Resources (TSXV:CRB), (OTC:CROOF) (“Cariboo Rose” is pleased to announce that on September 26 its option partner Black Shield Metals Corp (“Black Shield” (CSE: BDX) completed flying an airborne geophysical survey on the Carbonate Hosted Gold Project (“CHG Project”) located northwest of the town of Clinton, in south-central British Columbia. Data from the survey is now being processed by the contractor, Geotech Airborne Geophysical Surveys of Aurora Ontario, will assist in defining and prioritizing targets. Three hundred and thirty five line kilometers (335) of helicopter borne survey were flown using the VTEM™ Time Domain EM system which has proven to be effective for locating discrete conductive anomalies as well as mapping lateral and vertical variations in resistivity (to identify contacts and faults which are potential fluid pathways).

 

The CHG Project CHG (short for Carbonate Hosted Gold) is drained to the east by three parallel creeks spaced approximately 3 kilometers apart, each with very strong gold silt anomalies with sharp upstream cutoffs. Bedrock is predominantly limestone and outcrop is rare except at higher elevations. An historic report from the Geological Survey of Canada makes reference to high-grade gold values in silicified carbonate samples (jasper) being discovered near Clinton and speculated to originate in the area now covered by the CHG claims.

 

Black Shield Metals Corp. may earn a 60% interest in CHG by completing $1,500,000 in exploration and making payments of $300,000 and by Nov 2025 thereafter an additional 10% interest by completing a bankable feasibility study within 24 months. The project is fully permitted.

 

J.W. (Bill) Morton P. Geo, within the context of the requirements of NI-43-101, is the qualified person who takes responsibility 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: [email protected]

About Cariboo Rose Resources Limited

 

Cariboo Rose owns seven mineral projects in British Columbia.  A summary of these projects is as follows:

 

Carruthers Pass, 100% owned subject to an option with Vizsla Copper Corp. (TSX-V:VSU) (a spinout from Vizsla Silver completed Sept 30, 2021) who may earn a 60% interest by making payments of $650,000 and completing $3,000,000 in exploration, sediment hosted massive sulfide discovered by Freeport McMoRan Copper and Gold in 1997, a 100% interest was acquired by Cariboo Rose from FMC in 2011, 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.

  

Lightning Strike, 100% owned, located 50 kilometers northeast of the community of 100 mile House, BC. Same rock suite and style of mineralization as exists at Spanish Mountain Gold located 90 kilometers to the northwest, and F G Gold 30 kilometers to the north. Drilling completed in 2008, 9 &10 included intercepts of 4.54 g/t Au and 60.2 g/t Ag over 3.8 meters, 19.9 g/t Au over 1.5 meters and  1.03 g/t Au over 26 meters. Deposit example types include the giant Murantau and Sukoy Log deposits in Russia. Cariboo Rose recently completed 11 reverse circulation drill holes at lightning Strike which are currently being analyzed (see news dated Sept 24, 2021). Lightning Strike is fully permitted.

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, trenching is planned for 2021.

Cowtrail, 100% owned, located in southcentral BC, contiguous with the Woodjam copper-gold porphyry project owned by Consolidated Woodjam Copper, 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. Results for 900 soil samples collected earlier in 2021 have now been received. Cowtrail is fully permitted.

Koster Dam, 55% owned (Ameriwest Lithium Inc. 45%), located in southern BC 10 kilometers north of the former producing Blackdome gold mine, volcanic hosted gold target related to the Fraser River Fault system, recent programs have located areas of >1 gram/t gold in rubble and chalcedonic quartz in outcrop. A Triaxial magnetic survey and a liDar Survey were completed in June of this year with data currently being interpreted. Koster Dam is fully permitted.

Pat, 100% owned, staked by Cariboo Rose in 2004, located in southcentral BC contiguous with the Woodjam copper-gold porphyry project owned by Consolidated Woodjam Copper, very strong unexplained magnetic airborne anomaly in prospective Nicola Group volcanic rocks.

    

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

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