Vancouver, BC, Nov 23, 2021, Cariboo Rose Resources Ltd. (“Cariboo Rose”) (TSX-V: CRB) and Vizsla Copper Corp. (“Vizsla Copper”) (TSX-V: VCU) have amended the option agreement dated Feb 1, 2021 whereby Vizsla may earn a 60% interest in the Carruthers Pass property. The amendment removes a requirement of Vizsla to complete $100,000 of work before the first anniversary and replaces it with a requirement to complete $400,000 before the second anniversary. To complete the option Vizsla Copper is required to complete $3,000,000 in exploration and make $650,000 in option payments (cash and shares) over a five year term.
Carruthers Pass is a copper-zinc-silver-gold and cobalt property located in northern BC approximately 75 kilometers southeast of the former producing Kemess copper gold mine owned by Centerra Gold Inc. (TSX: CG). It was discovered in 1997 by the Phelps Dodge Corporation of Canada (now Freeport McMoRan Copper and Gold Inc.). Cariboo Rose acquired Carruthers Pass in 2003 through an option agreement with Phelps Dodge and earned a 100% interest in the project in 2011 (subject to a 2.5% net smelter interest reducible to 1.0% for $1.5M owned by Franco Nevada Corporation). Most significant to the project is a mineralized slab of rock in the upper reaches of a valley below gossanous cliffs. In 2011 the mineralized slab was core drilled to determine whether or not it was outcrop. An intercept of 3.1 meters grading 6.2% copper, 5.8% zinc, 2.37 g/t gold and 192.0 g/t silver was obtained before the drill bit passed through massive sulfide and into unconsolidated material. Although the exact source of the mineralized slab has not been located it is almost certainly local. Numerous untested airborne electromagnetic (EM) anomalies exist on the property.
The Carruthers Pass property is approximately 200 kilometers northeast of the community of Smithers. The Kemess Mine Road passes 25 kilometers north and east of the claims while industrial logging roads extend from Takla Lake northward to within 35 kilometers of the property.
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.
J.W. (Bill) Morton, P.Geo.
Cariboo Rose Resources Ltd.
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: firstname.lastname@example.org
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. (formerly part of Kore Mining Limited (TSX-V: KORE). 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 4.54 g/t gold and 60.2 g/t silver over 3.8 meters, 1.03 g/t gold over 26.0 meters, 0.77 g/t gold over 20.0 meters and 19.30 g/t gold over 1.5 meters. Results are pending for eleven reverse circulation (RC) drill holes completed in September of this year.
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.
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. The soil grid at Cowtrail was expanded with 813 new samples in 2021. The project is fully permitted.
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 September, 2021 with data currently being processed. The project is fully permitted.
Koster Dam, 55% owned by Cariboo Rose and 45% by Ameriwest Lithium Inc.(CSE:AWLI) Inc. is located in southern BC 10 kilometers north of the former producing Blackdome gold mine. 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 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. Preliminary review indicates a number of linear features in the general vicinity of anomalous rubble, soil and silt results (gold, silver and arsenic). The project 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 covers a 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.