Summary of Exploration Activities November 2020
November 18, 2020 at 09:15 AM EST
Vancouver, BC - TheNewswire - Nov 18, 2020, Cariboo Rose Resources Ltd. ("Cariboo") (TSXV:CRB) (OTC:CROOF) is pleased to provide an update on the status of its various exploration projects. Beginning in 2018 "Cariboo" has focused on accessible gold projects located in the Cariboo and Thompson Okanagan regions of British Columbia and is currently exploring four gold projects which include two epithermal projects; Koster Dam and Coquigold, one disseminated Carlin style project; Carbonate Hosted Gold and one Shale Hosted Gold project; Lightning Strike. Lightning Strike and Coquigold are 100% owned while Koster Dam (55% owned) is subject to a joint venture agreement with Oakley Ventures Inc. and Carbonate Hosted Gold is subject to an option agreement with Black Shield Metals Corp. Within the last three weeks multiyear exploration permits for three of these projects have been issued by the BC government while the fourth project (Coquigold) is still in review. Receipt of these permits will allow the company to transition from passive activities such as soil sampling (1,366 soil and rock samples on Lightning Strike in 2020) to more aggressive activities including excavator trenching and drilling.
In addition to the gold projects "Cariboo" owns 100% interests in Carruthers Pass massive sulfide project in northern BC and the Cowtrail and Pat porphyry copper-gold projects which are contiguous to the Woodjam copper gold project owned by Consolidated Woodjam Copper Corp. ("Woodjam Copper") (TSX-V: WCC). On November 10, 2020 "Woodjam Copper" announced the result for hole DH20-71 which included 110 meters grading 2.57 g/t gold and 0.44% copper and a further 38 meters grading 1.16 g/t gold and 0.22% copper. Both the Cowtrail and Pat claims, staked in 2004, share many geological attributes with the Woodjam property. Highlight of these commonalities are exemplified by hole CT-001 drilled at Cowtrail in 2007 which returned 1.16 g/t gold and 0.04% copper over 18.3 meters and hole CT-1012 drilled at Cowtrail in 2011 which returned 0.11 g/t gold and 0.17% copper over 32.2 meters.
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.
Cariboo Rose owns six mineral projects in British Columbia. These projects include Pat and Cowtrail, prospective for copper-gold porphyry mineralization, Carruthers Pass, prospective for copper-zinc-silver-gold-cobalt massive sulfide mineralization, Coquigold and Koster Dam, prospective for epithermal silver-gold mineralization and Carbonate Hosted Gold, prospective for Carlin style gold mineralization. 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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