Cariboo Rose Resources (TSX-V: CRB) has started drilling on the Woodjam gold-copper property, located in south-central British Columbia, five kilometres south of Imperial Metals Corp’s (TSX: III) Mount Polley mine property. The Woodjam property is a joint venture in which Cariboo Rose holds a 40% interest and Fjordland Exploration Inc. (TSX-V: FEX) holds a 60% interest.
Three holes are planned to test a geophysical induced polarization (IP) anomaly recently discovered by the ongoing 2007 survey program at the property. To date, approximately 100 kilometres of IP and magnetic geophysical surveys have been completed at Woodjam. The surveys have uncovered a new zone 3 kilometres east of the Takom area, called the Southeast Zone, and suggests that a large intrusive/hydrothermal complex measuring approximately five kilometres by six kilometres underlies the almost 30,000 hectare Woodjam property, with at least three large IP chargeability anomalies. Two of these, the Megabuck and Takom Zones, are associated with known copper and gold mineralization while the Southeast Zone has had no previous exploration.
The geophysical survey data dramatically expands the area of interest for exploration on the Woodjam property and suggests a much greater potential for discovery than previously envisioned. Northeasterly trending geologic features have long been considered important in determining the location of large mineralizing systems in the generally northwest trending Quesnel Terrane. This recent data suggests that such a feature is present and is aligned with the known mineralized areas on the property.
The Woodjam property has had approximately 16,000 metres of drilling since 2001, most of which has been in the Megabuck zone. Exploration has demonstrated that the property is prospective for bulk-tonnage gold-copper deposits similar to other porphyry deposits in B.C.’s Quesnel Terrane. Drilling in 2004 included a hole that intersected 378 metres grading 0.81 g/t gold and 0.12% copper and another that intersected 397 metres grading 0.82 g/t gold and 0.12% copper. Drilling in 2006 included a hole with 94 metres grading 0.95 g/t gold and 0.19% copper and another hole with 92 metres grading 1.0 g/t gold and 0.22% copper.
J.W. Morton, P.Geo. and G.L. Garratt, P.Geo. are the qualified persons who have reviewed and take responsibility for this news release.
J.W. (Bill) Morton, P.Geo
Contact: Paul Way, Business Development Manager or: B&D Capital Partners
(604) 681-7913 (604) 685-6465
Toll Free: 888-656-6611
Or visit the Company’s website at: http://www.cariboorose.com/
About Cariboo Rose Resources Ltd.
Cariboo Rose Resources Ltd. is a Canadian public resource company that trades on the TSX - Venture exchange under the symbol CRB and currently operates five mineral exploration projects in Western Canada. It was spun off from Wildrose Resources Ltd. (TSX-V: WRS) in 2006, to allow Wildrose to focus on the Spanish Mountain Project. Cariboo Rose is part of the Eastfield Group. Since its inception in 1987, the Eastfield Group has utilized a successful business strategy that leverages its exposure by securing third party exploration financing on the majority of its projects. The other companies in the Eastfield Group are Eastfield Resources (TSX-V: ETF) and Wildrose Resources.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the TSX - Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.