Cariboo Rose Lines up Ducks in BC and Yukon
09 October 2013 - 3:43AM
Access Wire
Vancouver, BC, October
8, 2013 - Cariboo Rose Resources Ltd.
(TSX-V: CRB)
("Cariboo Rose") is pleased to announce that it has regained a 100%
interest in the Carruthers Pass volcanogenic massive sulphide
prospect located in northern British Columbia.
Carruthers Pass was acquired by
Cariboo Rose from the Phelps Dodge Corporation of Canada Limited
(later Freeport-McMoRan of Canada Limited) in 2003. The agreement
with Phelps Dodge required Cariboo Rose to pay $120,000 (or issue
shares valued at payment requirements), and complete $750,000 in
exploration by May 31, 2012. Cariboo Rose entered into subsequent
option deals with Maxtech Ventures Inc., Hawthorne Gold Corp. and
La Quinta Resources Corp. that satisfied these requirements by May
31, 2012. On Sept 30, 2013 the option agreement between Cariboo
Rose and La Quinta Resources Corp. was terminated, and Cariboo Rose
Resources regained a 100% interest in the project.
In 1997 Phelps Dodge Corporation
discovered an occurrence of massive sulphide at the base of a talus
slope on the Carruthers Pass project and explored the discovery
with several programs. The massive sulphide occurrence had been
variously interpreted to be outcrop or a large block of rock that
broke off an adjacent cliff. In 2011 La Quinta Resources Ltd.
completed a drill hole into the massive sulphide occurrence
intercepting 3.1 metres grading 6.2% copper, 5.8% zinc, 192.0 g/t
silver and 2.37 g/t gold before exiting the massive sulphide and
encountering unconsolidated sediments. The conclusion was made that
the massive sulphide was not in place and most likely originated
from an outcrop on the adjacent cliff face. The company
considers Carruthers Pass to be highly prospective with a number of
untested geophysical, geochemical and geological
targets.
As previously reported on
July 11, 2013, the company recently regained a 100% interest in
the Canadian Creek property located in the Yukon
Territory approximately 160 kilometres south of Dawson City. The
property encompasses 320 claims covering 6,180 hectares and is
prospective for both copper-gold porphyry mineralization (Casino
style) and lode gold mineralization (Kaminak style). The Canadian
Creek property borders Kaminak Gold Corporation's
(TSX-V: KAM)
Coffee Gold property immediately south of the recently
discovered Sugar Zone. Included in the Canadian Creek claims are
the Casino "B" claims which abut the large tonnage
Casino copper-gold-molybdenum porphyry deposit owned
by Western Copper & Gold Corp. (TSX: WRN).
Cariboo Rose remains well financed
and has commenced reconnaissance exploration for epithermal and
carbonate-hosted gold in south-central British Columbia. In
addition, results from the exploration program on the Koster Dam
project are pending.
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.
Contact:
Paul Way, Business
Development Manager
Phone: (604) 681-7913, Toll
Free: 888-656-6611; email: pway@eastfieldgroup.com
About Cariboo
Rose Resources Limited
Cariboo Rose Resources is a
prospect generating mineral exploration company with six gold,
copper and molybdenum exploration projects in BC and the Yukon.
Properties 100% owned include the Canadian Creek copper-gold
property located in the White Gold District of the Yukon, the
Carruthers Pass copper-zinc-silver property in north-central BC,
the Monte Christo gold-copper project in the Cariboo Region of
south-central BC and the Pat gold-copper property in the Cariboo
region of south-central BC. Joint Venture projects include the 35%
owned Cowtrail gold-copper property located in the Cariboo region
of south-central BC and the 70% owned Koster Dam gold project in
south-central BC. Cariboo Rose trades on the TSX Venture exchange
under the symbol "CRB". For more information please visit the
Company's website at http://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.
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