Vancouver, BC, March 7, 2022, Cariboo Rose Resources Ltd. (“Cariboo Rose”) (TSX-V: CRB) reports on recent reverse circulation drill results at its 100% owned Lightning Strike gold-silver project located in the Cariboo region of BC, 70 kilometers northeast of the community of 100 Mile House. The project occurs in a flat to undulating landscape at an elevation of approximately 1,000 meters (3,300 feet) where outcrop is essentially nonexistent and results are consequently from blind targets.
Lightning Strike is a shale hosted gold project approximately 35 kilometers south of the Fraser Gold project owned by Karus Gold Corp. and 95 kilometers southeast of the Spanish Mountain project owned by Spanish Mountain Gold Ltd. (TSX-V: SPA). Lightning Strike, Frasergold and Spanish Mountain share a common geological setting in a Triassic aged shale-siltstone sequence. At Lightning Strike significant gold mineralization is also commonly accompanied with accessory silver (72.8 g/t over 1.52 meters maximum value this program). Significant drill intercepts from the 2021 program are as follows:
| LSRC21-06 | 7.2 g/t Ag and 0.62 g/t Au over 38.1 m (91.4-129.5 m) |
| including | |
| 11.0 g/t Ag and 0.95 g/t Au over 21.3 m (108.2 to 129.5 m) | |
| including | |
| 16.3 g/t Ag and 1.43 g/t Au over 10.6 m (108.2 to 118.9 m) | |
| including | |
| 6.1 g/t Ag and 2.69 g/t Au over 4.6 m (109.7 to 114.3 m) | |
| and | |
| 4.9 g/t Ag and 1.48 g/t Au over 3.0 m (126.5 to 129.5 m) | |
| LSRC21-07 | 6.8 g/t Ag and 0.34 g/t Au over 10.6 m (126.5-137.2 m) |
| including | |
| 1.8 g/t Ag and 1.38 g/t Au over 1.5 m (135.6-137.2 m) | |
| LSRC21-08 | 14.8 g/t Ag and 0.54 g/t Au over 19.8 m (64.0-83.8 m) |
| including | |
| 34.2 g/t Ag and 1.00 g/t Au over 7.6 m (74.7-82.3 m) | |
| and | |
| 12.8 g/t Ag and 0.12 g/t Au over 1.5 m (105.2-106.7 m) | |
| LSRC21-09 | 2.0 g/t Ag and 0.77 g/t Au over 1.5 m (106.7-108.2 m) |
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 Asia with resources of ±80 million ounces and ±20 million ounces gold each.
Plans to follow up the 2021 success are being formalized.
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: info@eastfieldgroup.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.
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.. 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. Eleven reverse circulation (RC) drill holes were completed in September, 2021. Significant gold-silver results were obtained in four of these holes including 7.2 g/t silver and 0.62 g/t gold over 38.1 meters in hole LSRC21-06 and 34.2 g/t silver and 1.00 g/t gold over 7.6 meters in hole LSRC21-08.
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. The project is fully permitted with drilling anticipated in 2022.
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. The project 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. In December 2021 an option to earn a 70% was granted to CMP Minerals Inc. who are required to make option payments totaling $250,000 cash; issue 200,000 common shares; pay an additional $250,000 in cash or shares and incur $2,000,000 in exploration expenditures, over a period of four years. An exploration expenditure of $300,000 is required in the first year.
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). Work will continue once snow dissipates. 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.