Cariboo Rose Resources Commences Fieldwork in British Columbia
Vancouver, BC, June 4, 2015 – Cariboo Rose Resources Ltd. (TSX-V: CRB
) (“Cariboo Rose”) is pleased to report that fieldwork has commenced on its British Columbia projects. Work is now being initiated on two of the 100% owned projects; Koster Dam located five kilometres north of the former producing Blackdome gold mine and the Carbonate Hosted Gold project located near Clinton, BC. A summary of these two projects is as follows:
The Koster Dam project targets low sulphidation gold similar to what occurs at the Blackdome Mine which during its 8 year life recorded production of approximately 225,000 ounces of gold and 547,000 ounces of silver from several narrow quartz veins. Silt surveying was initiated on the Koster Dam property in 2012 and was followed up in 2013 and 2014 with additional silt sampling augmented with pre-concentrating duplicate samples in a portable sluice box. In 2014 sporadic anomalous gold values indicated in the 2012 and 2013 work were traced to a small subsidiary creek yielding consistent gold values exceeding 100 ppb with many exceeding 500 ppb (both silt and sluiced silt types). The final samples near the headwaters of the creek yielded 632 ppb gold in the silt and 1,452 ppb gold in the sluiced silt. A soil grid and further detailed stream sediment sampling are currently being completed.
The Carbonate Hosted Gold project was conceived as a reconnaissance gold exploration project focused on a belt of limestone exposures aligned along the eastern side of the Cache Creek Terrane. The primary target for this exploration is carbonate hosted gold (CHG) modeled on a number of gold deposits including the deposits of Carlin Nevada, the high grade Muddy Lake deposit located in northern BC and the recent ATAC Resources discoveries in the Yukon Territory. Historical reports from the Geological Survey of Canada report high-grade gold mineralized jasper boulders in the glacial till in this area. A program focused on silt and “sluiced silt” sampling was initiated in 2013 and continued in 2014 resulting in the identification of two significantly anomalous drainages in 2013 and a third drainage in 2014. The anomalies currently span eight kilometers in a northwesterly direction with consistent anomalous gold concentrations in both silt and sluiced silt samples in an upstream direction until cut off suggesting a source at this elevation. Further reconnaissance soil sampling and prospecting will be completed. Extensive clear-cut logging has occurred recently on the project claims due to the pine beetle epidemic and has provided greatly improved access and new rock exposure.
Bill Morton, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
J.W. (Bill) Morton, P.Geo.
President and CEO
Cariboo Rose Resources Ltd.
Paul Way, Business Development Manager
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: email@example.com
About Cariboo Rose Resources Limited
Rose Resources is a prospect generating mineral exploration company with eight gold, copper and molybdenum exploration projects in British Columbia and the Yukon. Cariboo Rose trades on the TSX Venture exchange under the symbol “CRB”. For more information please visit the Company’s website at www.cariboorose.com
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.