Vancouver, November 30, 2023 Cariboo Rose Resources Ltd. (TSX-V: CRB) and Joint Venture partner Discovery Lithium Inc. (CSE-C: DCLI) are pleased to announce that gold mineralization has been discovered at the Koster Dam gold-silver Project in British Columbia as a result of systematic prospecting. The current program was designed to target vectors originating from reconnaissance work completed in 2022 and high resolution airborne magnetic surveying completed in 2021. Four samples of float, predominantly subangular and consisting of quartz vein and quartz breccia hosted in rhyolite, returned gold analysis of 2.61, 2.38, 1.47 and 0.74 grams per tonne gold respectively (from a total of 58 samples collected with many of them heavily altered and flooded with chalcedonic quartz).
The area of interest on Koster Dam is situated approximately 10 kilometers south of the former producing Blackdome Mine which is developed on a volcanic hosted epithermal deposit of Eocene age that was in production from 1986 to 1991 during which time it produced 225,000 ounces of gold and 547,000 ounces of silver. One of the challenges and opportunities at Koster Dam is that, while mineralization at the Blackdome Mine outcrops in steep terrane at an elevation of approximately 7,000 feet, Koster Dam is situated on the same volcanic complex in a relatively flat landscape at a much lower elevation and is predominantly till covered. The climate is semiarid and the property is road accessible from the city of Williams Lake, B.C. 80 kilometers to the north.
Koster Dam is a joint venture between Cariboo Rose Resources (55%) and Discovery Lithium (45%).
J.W. (Bill) Morton P. Geo, within the context of the requirements of NI-43-101, is the qualified person who takes full responsibility for this news release.
Bill Morton
J.W. (Bill), P.Geo.
President
Cariboo Rose Resources Ltd.
Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611; website at http://www.cariboorose.com.
email: info@eastfieldgroup.com
About Cariboo Rose Resources Limited
Cariboo Rose owns seven mineral projects in British Columbia. These include:
- Lightning Strike, shale hosted gold, located east of 100 Mile House, 100% owned
- Carruthers Pass, located southwest of Kemess Mine, 60% option to Vizsla Copper Corp
- Carbonate Hosted Gold, located northwest of Clinton, 60% or 70% option to Basin Uranium
- Pat, porphyry copper-gold, contiguous with Consolidated Woodjam Copper, 100% owned
- Coquigold, epithermal gold, north of Westhaven Gold’s Shovelnose, 70% option to CMP Minerals
- Koster Dam, gold, located near Gang Ranch 55% - 45% joint venture with Discovery Lithium
- Cowtrail, copper-gold, contiguous with Consolidated Woodjam Copper, 60% option to BRS Mining
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.