Cariboo Rose Resource’s CEO Reviews the Company
Cariboo Rose Resource’s CEO Reviews the Company
Vancouver, January 5, 2024, Cariboo Rose Resources Ltd. “Cariboo Rose” (TSX-V: CRB) is pleased to
review the assets of the company which consist of seven mineral properties located in British Columbia plus cash
and marketable securities currently valued at approximately $ 400,000. The company has no debt and has never
been consolidated.
Cariboo Rose operates on a model where option agreement s with other companies derive both income and
exploration leverage. A summary of projects effective the beginning of 2024 follows.
Lightning Strike: A 100% owned shale hosted gold silver project modelled on the Spanish Mountain Gold
Project located in similar rocks 95 kilometers to the northwest owned by Spanish Mountain Gold Ltd. (TSX -V:
SPA) and the FG Gold Project located 35 kilometers to the north. Shale hosted orogenic gold deposits are one of
the most attractive models for large gold deposits in the world and include the gi ant Murantau and Sukoy Log
deposits in Russia. Seven historic drill holes on the Lightning Strike claims in clude intercepts of 3.42 g/t gold
and 228.1 g/t silver over 5.0 meters, 0.77 g/t gold over 20.0 meters and 19.30 g/t gold over 1.5 meters. Reverse
circulation (RC) drill holes completed in 2021 by Cariboo Rose included results of 0.62 g/t gold and 7.2 g/t silver
over 38.0 meters including 1.43 g/t gold and 16.3 g/t silver over 10.6 meters and 0.54 g/t gold and 14.8 g/t silver
over 19.8 meters.
Carruthers Pass: 100% owned subject to an option with Vizsla Copper Corp. (TSX -V: VSU) who may earn a
60% interest in the project by making payments of $650,000 and completing $3,000,000 in exploration By
February 17, 2026. Sediment hosted massive sulfide mineralization was discovered at Carruthers Pass by Freeport
McMoRan Copper and Gold in 1997 and in 2003 a 100% interest in the project was sold to Cariboo Rose (earn-
in completed in 2012 subject to a 2 1/2% royalty to Franco-Nevada Corporation). The proper ty is located in
northern BC south of the Kemess copper-gold mine Most significant to the project is a mineralized slab of rock
weighing several thousand tons protruding from talus with a drill intercept 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 remain. The
project is fully permitted. A VTEM airborne geophysical survey and four diamond drill holes were completed by
Vizsla Copper in 2022 at a cost of approximately $2.0 million.
Coquigold: A 100% owned, epithermal gold and silver project located in southern BC 10 kilometers north of
Shovelnose Mountain (Westhaven Gold Corp.). Central to Coquigold is an area where in 2008 the BC Geological
Survey identified quartz sinter and several areas of chalcedonic volcanic and intrusive breccia, bedrock sampling
by Cariboo Rose returned up to 43.1 g/t silver, 559 ppm arsenic, 13,400 ppb mercury and 101ppm antimony. In
Dec. 2021 an option to earn a 70% interest was granted to CMP Minerals Inc. who must make option payments
totaling $500,000 cash (and s hares); issue 200,000 common shares and incur $2,000,000 in exploration
expenditures, over a four -year period. In May, 2022 453 soil samples were collected on new claims and in
December, 2022 a helicopter-borne magnetic gradient, radiometric, and VLF-EM survey was completed followed
by a 3 -hole diamond drill program which tested the Red Vein occurrence without success. Soil sampling
completed in 2022 identified four new epithermal targets based on anomalous concentrations of arsenic,
antimony, silver and lead including the XYZ target with 5 contiguous soil samples averaging 102 ppm As.
Cowtrail: A 100% owned porphyry copper gold project located in southcentral BC contiguous with the Woodjam
copper-gold porphyry project owned by Vizsla Copper Corp. Reconnaissance drill testing of extensive induced
polarization anomalies (vintage 1997, 2004 and 2006) define a vector of mineralization trend ing 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 project was optioned to BRS Resources Ltd in November 2022 who may earn a 60% interest over
a four-year term by making payments totaling $400,000 and completing $2,000,000 in exploration. The project
is fully permitted. A diamond drill program started in May 2023.
CHG (Carbonate Hosted Gold): 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 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 in 2021 and indicates a number of resistivity and magnetic anomalies. Basin Uranium recently
completed a seven -hole ( depths of 43m to 64m) reverse circulation drill program with none of the holes
penetrating through the gravelly overburden. Cariboo Rose has been advised by Basin Uranium that another
attempt will be made in the first quarter of 2024 using a diamond drill rig.
Koster Dam: The project, 55% owned by Cariboo Rose and 45% by Discovery Lithium Corp. , is located in
southern BC with the property boundary being three kilometers north of the former producing Blackdome Gold
Mine (in production from 1986 to 1991 during which time it produced 225,000 ounces of gold and 547,000 ounces
of silver). The target at Koster Dam is volcanic hosted gold influenced by the Fraser River Fault system. Recent
programs have located areas of greater than 1.0 gram/t gold in rubble, greater than 3.0 g/t gold in silt and
chalcedonic quartz in outcrop. A Triaxial magnetic survey and a LiDAR Survey were completed in 2021. First
review indicates a number of linear features in the general vicinity of anomalous rubble, soil and silt result (gold,
silver and arsenic). A modest prospecting program completed in 2023 identified two areas with gold mineralized
float returning assays to 2.6 g/t gold.
Pat: A 100% owned porphyry copper-gold project located in southcentral BC (staked by Cariboo Rose in 2004).
It is contiguous with the Woodjam copper-gold porphyry project owned by Vizsla Copper Corp. covering a very
strong unexplained magnetic airborne anomaly in prospective Nicola Group volcanic rocks.
J.W. (Bill) Morton P. Geo, CEO of Cariboo Rose Resources Ltd., 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: [email protected]
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.