Exploration Progress Report on Cariboo Rose’s Gold-Copper-Silver Projects
Exploration Progress Report on Cariboo Rose’s Gold-Copper-Silver Projects
Vancouver, BC, Sept 18 , 2024, Cariboo Rose Resources Ltd. (“Cariboo Rose”) (TSX-V: CRB) provides an
update on exploration on its gold–copper-silver projects.
Cariboo Rose operates on a model where projects are acquired and subsequent option agreements with other companies
derive both income and exploration leverage. Factors which make this viable, in addition to having projects that possess
large deposit attributes, include acquiring large acreage tenures, keeping expiry dates well into the future and having the
projects fully permitted. A summary of the more important 2024 projects, all of which are located in British Columbia,
follows.
Lightning Strike: A 100% owned, 4,073-hectare, shale hosted gold-silver project modelled on the Spanish Mountain
Gold Project located in similar rocks 95 kilometers to the nort hwest owned by Spanish Mountain Gold Ltd. (TSX-V:
SPA). Shale hosted orogenic gold deposits are one of the most attractive models for large gold deposits in the world and
include the giant Murantau and S ukoy Log deposits in Russia. A number of notable drill holes on Lightning Strike
include intercepts of 3.42 g/t gold and 228.1 g/t silver over 5 .0 meters, 0.62 g/t gold and 7.2 g/t silver over 38.0 meters,
0.77 g/t gold over 20.0 meters and 19.30 g/t gold over 1.5 mete rs. An exploration permit to drill, valid until April 28,
2029, was granted in 2024.
Carruthers Pass : A 100% owned, 3,895-hectare base and precious metal project that would includ e Greens Creek
Alaska as an analog. Massive sulfide mineralization was discove red here by Freeport McMo Ran Copper and Gold in
1997. In 2003 a 100% interest in the project was sold to Caribo o Rose via an earn-in completed in 2012 (subject to a
21/2% royalty to Franco-Nevada Corporation). The property is locate d in northern BC south of the Kemess copper-gold
mine. Of major significance to the project is a mineralized slab of rock weighing several thousand tons protruding from
talus with a diamond drill intercept through it of 3.1 meters grading 6.2% copper, 5.8% zinc, 2.37 g/t gold and 192.0 g/t
silver. The project is fully permitted for drilling with a curr ent permit expiry of Dec 31, 2026. The most recent work,
completed in 2022, at a cost of approximately $2.0 million, included a VTEM electromagnetic airborne survey and four
diamond drill holes. Numerous geochemical and geophysical targets remain untested including some with robust cobalt
values.
Cowtrail: A 100% owned, 4,717-hectare, porphyry copper gold project loc ated in southcentral BC contiguous with the
Woodjam copper-gold porphyry project owned by Vizsla Copper Cor p. (TSX-V: VCU). The Cowtrail project is under
option to BRS Resources Ltd (CSE: BRS) who may earn a 60% interest by completing $2,000,000 in exploration, making
payments of $200,000 cash and share issuances equivalent to $200,000 by Dec 19, 2027. Reconnaissance drill testing of
extensive induced polarization anomalies (vintage 1997, 2004 an d 2006) define a vector of mineralization trending to
the southwest beyond the area drilled. Significant drill interc epts include 0.15% copper and 0.12 g/t gold over 105.0
meters, 0.17% copper and 0.11 g/t gold over 40.0m and 1.16 g/t gold over 18.3m. A separate gold arsenic soil anomaly
with coincident strong IP and a 6-meter drill intercept grading 0.82 g/t gold, is located 2 km to the west. The exploration
permit to drill is valid until Aug 23, 2026.
Coquigold: A 100% owned, 2,660-hectare, epithermal gold and silver project located in southern BC 10 kilometers north
of Shovelnose Mountain (Westhaven Gold Corp. (TSX-V: WHN)). Cen tral to Coquigold is an area where in 2008 the
BC Geological Survey identified quartz sinter and several areas of chalcedonic volcanic and intrusive breccia.
Subsequent bedrock sampling by Cariboo Rose returned up to 43.1 g/t silver, 559 ppm arsenic, 13,400 ppb mercury and
101ppm antimony. Soil sampling completed in 2022 identified fou r new epithermal targets based on anomalous
concentrations of arsenic, antimony, silver and lead. In 2022 the project was optioned to CMP Mining Inc. (CSE: CMP)
who may earn a 60% interest over a four-year term by making pay ments totaling $450,000, issuing 200,000 shares and
completing $2,000,000 in exploration. An exploration permit to drill, valid until Aug 14, 2028, was granted in 2023.
CHG (Carbonate Hosted Gold): A 100% owned, 4,760-hectare, carbonate hosted gold target 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 additi onal 10% interest by completing a bankable feasibility
study within 24 months. CHG is located in southern BC near the community of Clinton and is drained to the east by three
creeks with very strong gold silt anomalies in a predominantly limestone terrane. A VTEM airborne electromagnetic
survey was completed in 2021 and indicates a number of resistiv ity and magnetic anomalies. In 2023 Basin Uranium
completed a seven-hole reverse circulation drill program in one target with none of the holes penetrating through the
gravelly overburden. In March 2024 a single diamond drill hole was completed. This hole encountered overburden to
120 meters followed by a clay altered unit and sandstone to 139m where the hole was lost in a fault without encountering
significant results. Basin Uranium advises that more work is pl anned. The current permit issued in 2020 authorizing
drilling is valid until Oct 25, 2025.
Koster Dam: The 5,463-hectare epithermal precious metal project, 55% owned by Cariboo Rose and 45% by Discovery
Lithium Corp. (CSE: DCLI), is located in southern British Colum bia 5 kilometers north of the Blackdome gold silver
Mine (in production from 1986 to 1991 during which time it prod uced 225,000 ounces of gold and 547,000 ounces of
silver). The target at Koster Dam is volcanic hosted gold related to the Fraser River Fault system similar to Blackdome.
Recently, areas with greater than 3.0 g/t gold in silt and chal cedonic quartz in outcrop have been located. Airborne
magnetic and LiDAR surveys were completed in 2021and indicate a number of linear features. A program completed in
2023 guided by these linear features identified two new areas w here gold mineralized float returned assays to 2.6 g/t
gold. A 2024 program following up the 2023 work will start before the end of September.
This news release has been reviewed and approved by Mr. J.W. (Bill) Morton, P.Geo., who is the Qualified Person within
the context of NI 43-101 and takes responsibility for it.
J.W. (Bill) Morton, P.Geo.
President and CEO
Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611; 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.