Drilling to Resume at Carbonate Hosted Gold
Drilling to Resume at Carbonate Hosted Gold
Vancouver, BC, Feb 20, 2024, Cariboo Rose Resources Ltd. (“Cariboo Rose”) (TSX-V: CRB) has been advised
by Basin Uranium Corp. (CSE: NCLR) (“Basin Uranium”), who are earning an interest in the Carbonate Hosted
Gold Project (“CHG”), that diamond drilling is expected to start before the end of the month.
In 2021 a VTEM airborne geophysical survey was completed by Geotech Airborne Surveys over the Carbonate Hosted
Gold (CHG) claim block located near the community of Clinton, BC and identified a number of resistivity and magnetic
anomalies near the topographical high end of th ree silt alluvial dispersion trains. An initial test of some of the se
conductors was attempted in March 2023 using reverse circulation techniques. This drilling was unsuccessful owing to the
inability of the reverse circulation drill to penetrate the overburden with all seven holes abandoned in till at depths ranging
from 43 to 64 meters. The current drill program will again target these same anomalies using a diamond drill provided by
Paradigm drilling of Kamloops, BC., It is anticipated, subject to costs incurred, that 500 to 600 meters will be drilled.
CHG is located in southern BC in a semiarid setting on the east slope of the Marble Range. A key contributor to the
geological concept of CHG is the permissiveness of gold mineralization to carbonate rocks (silty sediments and
limestone) as demonstrated by the Muddy Lake deposit in northern BC, the Rackla gold project in the Yukon Territory
and the numerous gold deposits in Nevada. Since initiating exploration in 2013 Cariboo Rose has targeted three small
drainages sourcing in the Marble Range (limestone dominant) that returned highly anomalous gold analysis in silt with
numerous samples returning values ranging from 100 ppb to 929 ppb gold in silt and to greater than 10,000 ppb gold in
sluiced silt. These east -flowing drainages source from an area approximately 8 kilometers wide. An interesting
observation on the potential of CHG is an excerpt from the Report to the Minister of Mines [British Columbia] 1886
referencing G.M. Dawson of the Geological Survey of Canada ; From the report: “Specimens of a jaspery quartz
containing free gold and assaying $300 to the ton have been found in the early part of this year in three separate locations
within the surveyed bounds of the town of Clinton....” (readers are cautioned to treat this reference with caution owing to
its time frame and rudimentary context).
Basin Uranium may earn a 60% interest in CHG by making payments of $300,000 and completing $1,500,000 in
exploration by Dec 31, 2027 ($850,000 now completed) and thereafter an additional 10% interest by completing a
bankable feasibility study within 24 months.
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: [email protected]
About Cariboo Rose Resources Limited
Cariboo Rose owns seven mineral projects in British Columbia. In addition to Carbonate Hosted Gold these are:
-Lightning Strike, shale hosted gold, located east of 100 Mile House, 100% owned.
-Carruthers Pass, massive sulfide, located southwest of Kemess Mine, 100% owned.
-Cowtrail, contiguous with Woodjam project (Vizsla Copper Corp), 60% option to BRS Mining Resources.
-Pat, porphyry copper-gold, contiguous with Vizsla Copper Corp’s Woodjam project, 100% owned.
-Coquigold, epithermal gold, north of Westhaven Gold’s Shovelnose, 70% option to CMP Minerals.
-Koster Dam, gold, located near Black Dome Mine, 55% - 45% joint venture with Discovery Lithium Corp.
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.