Vancouver, BC, October 30, 2017 – Cariboo Rose Resources Ltd. (TSX-V: CRB) (“Cariboo Rose”) is pleased to announce results from the reverse circulation (RC) drilling program completed on the Canadian Creek Project located approximately 160 km south of Dawson City. The property abuts Western Copper and Gold Corp’s (TSX: WRN) Casino porphyry copper-gold-molybdenum property on the east and Goldcorp Inc.’s (TSX: G, NASDAQ: GG) Coffee property on the north, sharing a 12 km long boundary with Coffee and a six km boundary with Casino. Both Coffee (Goldcorp) and Casino (Western Copper and Gold) have published multi-million ounce gold resources.
A broad first-pass drill testing of multi-kilometre long soil geochemical anomalies resulted in 24 holes totaling 2144.22 m, exploring a range of geological, geophysical and geochemical targets in the Koffee Bowl South, Linear A, Malt East and Kana Zones.(go to www.cariboorose.com for a drill hole location map) Hole depths ranged from 16.76 m to 126.49 m. The drill holes were designed to validate the geochemical soil targets and to vector towards their feeders. Of the 24 holes, 20 intersected gold intercepts and strong trace element association. Tables summarizing all of the drill results may be found at the end of this news release.
Analytical results proved the existence of differing styles of gold mineralization across the Canadian Creek property, including discrete zones that contained up to 4.46g/t gold (hole CCRC17-23, in the eastern part of the property), to broad zones of mineralization such as 107.59 metres averaging 0.14g/t gold in hole CCRC17-08 in the central part of the property. The high gold values were often associated with anomalous arsenic and antimony which has proven to be useful pathfinder elements in other properties in the area. Only 4 of the 24 holes did not return significant gold results. It is evident that a broad area several kilometres in length hosts structurally hosted gold systems and that much more drill testing needs to be completed. A brief summary of the results by area follows:
Koffee Bowl Target:
The first two holes of the programme, CCRC17-01 and 02 targeted coincident geophysical and geochemical anomalies in the southern part of the Koffee Bowl target. High water flow caused both holes to be terminated prematurely at 16.76 and 61.57 metres respectively, with no significant results returned.
Linear A Targe
A total of seven holes, (CCRC17-03 to 09), were drilled from three sites along a distance of 1.2 km in the Linear A target, the west-central part of the property one kilometre east of Koffee Bowl. Linear A is a strong north-northwest trending break in the local magnetic signature which contains local strong chargeability highs and gold in soil anomalies. Twelve mineralized intercepts were noted from the seven holes. These included 10.64 m grading 0.40 g/t gold in hole CRCC-17-03 and 4.57 m grading 0.63 g/t gold within the long intercept of 107.59 m of 0.14g/t in hole CRCC-17-08 as stated above.
Malt East Target
Drill holes CCRC17-10 to 15 were drilled from two sites into the Malt East Zone in the northwest part of the property. This zone is one km in length and trends north-northwest defined by a gold-arsenic-antimony in soil anomaly that is up to 450 m in width. The soil anomaly occurs on the west side of a strong parallel trending break in the ground magnetics which is interpreted to represent a fault or structure.
All but two of the holes returned gold intercepts with local good silver values and strong pathfinder element values. The most significant result was from hole CCRC17-10 which was drilled to the east towards the geophysical structure and which contained anomalous gold values (6.08 m averaging 0.14g/t) and strongly anomalous silver, arsenic and antinomy in the bottom of the hole, nearest to the structure. Other highlights from this area were hole CCRC-17-11 with 7.62 m grading 0.20 g/t gold and 9.3 g/t silver, and CCRC-17-13 with 1.52 m grading 0.07 g/t gold and 12.9 g/t silver.
Kana Target
The remaining holes of the 2017 program, CCRC17-16-24, were emplaced in the Kana Zone, a five km long east-west trending gold-arsenic in soil anomaly located in the eastern half of the property. These 9 holes were drilled on 6 sites across the length of this zone. In these 9 holes, 20 gold intercepts were encountered, ranging from 1.52 to 22.56 metres in sample length.
Previously reported rock float sampling (see News Release dated October 4, 2017) in the eastern part of the Kana Zone returned gold values from 1.5 to 9.1g/t and silver values to 3100g/t.
Hole CCRC17-23 was collared in the northeast part of the Kana Zone, in the area of the 2009 drill holes CC09-08 and CC09-10 which returned intercepts of 3.50 g/t gold over 1.5 metres and 1.10 g/t gold over 3.0 metres, respectively. A total of five significant gold intercepts were returned from CCRC17-23, the most significant of which was a 1.52 metre sample at 89.92 metres which returned an assay of 4.46 g/t, the highest result of the 2017 programme. Other results of note from the Kana Zone were 1.52 metres of 0.82g/t gold from CCRC17-18 and 3.05 metres of 0.79g/t gold from hole CCRC17-22.
Bob Johnston, P.Geo., a qualified person within the context of National Instrument 43-101, managed the field program and completed the data compilation at Canadian Creek and has read and takes responsibility for this news release.
Glen Garratt, P.Geo., VP, Director
Cariboo Rose Resources Ltd.
Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611
About Cariboo Rose Resources Limited
In addition to its 100% owned Canadian Creek property in the Yukon, Cariboo Rose owns interests in five mineral projects in British Columbia four of which are 100% owned. Cariboo Rose also owns a strategic investment in Western Copper and Gold Corp.
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.
2017 Drilling Program Summary Results
Koffee Bowl Target
Holes CCRC-17-01 and 02 did not return significant results
Linear A Target:
| Hole No. | From (m) | To (m) | Int. (m) | Au (g/t) |
|---|---|---|---|---|
| CCRC-17-03 | 41.76 | 58.52 | 16.76 | 0.31 |
| including | 41.76 | 52.53 | 10.64 | 0.40 |
| 67.67 | 73.76 | 6.1 | 0.11 | |
| CCRC-17-04 | 67.67 | 69.19 | 1.52 | 0.12 |
| CCRC-17-05 | 32.61 | 35.66 | 3.05 | 0.19 |
| 99.67 | 105.77 | 6.08 | 0.16 | |
| CCRC-17-06 | 20.12 | 21.64 | 1.52 | 0.14 |
| 122.22 | 123.75 (EOH) | 1.52 | 0.17 | |
| CCRC-17-07 | 12.19 | 13.72 | 1.52 | 0.10 |
| 27.43 | 30.48 | 3.05 | 0.12 | |
| CCRC-17-08 | 1.22 | 108.81 (EOH) | 107.59 | 0.14 |
| including | 50.9 | 55.47 | 4.57 | 0.67 |
| including | 75.29 | 78.33 | 3.05 | 0.33 |
| CCRC-17-09 | 3.96 | 8.23 | 4.57 | 0.16 |
| including | 3.96 | 5.18 | 1.52 | 0.27 |
(NSR: no significant results; EOH: end of hole)
Malt East Target:
| Hole No. | From (m) | To (m) | Int. (m) | Au (g/t) | Ag (g/t) |
|---|---|---|---|---|---|
| CCRC-17-10 | 12.19 | 13.72 | 1.52 | 0.26 | |
| 108.20 | 114.30 (EOH) | 6.08 | 0.14 | ||
| CRCC-17-11 | 108.20 | 115.82 | 7.62 | 0.20 | 9.3 |
| CRCC-17-12 | NSR | ||||
| CRCC-17-13 | 35.66 | 37.19 | 1.52 | 0.12 | 4.0 |
| 66.14 | 67.67 | 1.52 | 0.07 | 12.9 | |
| CCRC-17-14 | NSR | ||||
| CCRC-17-15 | 39.01 | 42.06 | 3.05 | 0.14 |
(NSR: no significant results; EOH: end of hole)
Kana Target:
| Hole No. | From (m) | To (m) | Int. (m) | Au (g/t) | Ag (g/t) |
|---|---|---|---|---|---|
| CCRC-17-16 | 45.72 | 48.77 | 3.05 | 0.51 | 6.8 |
| CRCC-17-17 | 0.61 | 14.02 | 13.41 | 0.14 | |
| 47.55 | 50.60 | 3.05 | 0.23 | ||
| 73.46 | 74.98 | 1.52 | 0.31 | ||
| CRCC-17-18 | 2.13 | 29.26 | 27.13 | 0.22 | |
| including | 18.59 | 20.12 | 1.52 | 0.82 | |
| 39.93 | 47.55 | 7.62 | 0.15 | ||
| 56.69 | 61.26 | 4.57 | 0.20 | ||
| 81.08 | 84.12 | 3.05 | 0.15 | ||
| CRCC-17-19 | 0.30 | 22.86 | 22.56 | 0.17 | |
| CRCC-17-20 | 14.33 | 29.57 | 15.24 | 0.13 | |
| CRCC-17-21 | 74.98 | 91.74 | 16.76 | 0.16 | |
| CRCC-17-22 | 0.61 | 10.67 | 10.06 | 0.14 | |
| 25.91 | 28.96 | 3.05 | 0.14 | ||
| 54.86 | 57.91 | 3.05 | 0.79 | ||
| 70.1 | 88.39 | 18.29 | 0.14 | ||
| including | 86.87 | 88.39 | 1.52 | 0.39 | |
| CRCC-17-23 | 30.48 | 32.00 | 1.52 | 0.61 | |
| 80.77 | 83.82 | 3.05 | 0.47 | ||
| 89.92 | 91.44 | 1.52 | 4.46 | ||
| 99.06 | 100.58 | 1.52 | 0.36 | ||
| 121.92 | 123.44 | 1.52 | 0.33 | ||
| CCRC-17-24 | 54.86 | 56.39 | 1.52 | 0.16 | 2.3 |