Work Started at Lightning Strike Gold Project
Work Started at Lightning Strike Gold Project
Vancouver, BC, July 6 , 2020 , Cariboo Rose Resources Ltd. (“Cariboo”) (TSX-V: CRB) has started its
2020 field program on the Lightning Strike property located in the Cariboo Region of southcentral BC
approximately 60 kilometers northeast of the community of 100 Mile House. Lightning Strike is a shale hosted
gold project located approximately 35 kilometers south of the Fraser Gold project currently being explored by
Kore Mining Limited (TSX-V: KORE) and 95 kilometers southeast of the Spanish Mountain project currently
being explored by Spanish Mountain Gold Ltd. (TSX-V: SPM). Lightning Strike, Frasergold and Spanish
Mountain all occur in a Triassic aged shale -siltstone sequence where gold mineralization is attributed to the
shale hosted orogenic model.
Gold mineralization in the area of Lightning Strike was first reported by Homestake Development Corporation
in 1984 with the discovery of a significant soil gold anomaly underlain by shale and siltstone from which quartz
carbonate boulders grading up to 25.10 g/t gold and 216.8 g/t silver were sampled. Homestake subsequently
concluded that the anomalous soils and boulders were occurring in transported glacial till . In 2006 Skygold
Ventures Ltd. ( later Spanish Mountain Gold Ltd .) staked this area and completed mechanical trenching and
drilling in 2008 and 2010. Seven drill holes completed in this period are located on the Lightning Strike cla ims
and include intercepts of 4.54 g/t gold over 3.8 meters, 1.03 g/t gold over 26.0 meters, 0.77 g/t gold over 20.0
meters, 19.30 g/t gold over 1.5 meters and 0.77 g/t gold over 54 meters.
In 2019 Cariboo Rose extended soil geochemical grids to the sout h and east of the historic drilling with 665
samples collected which have confirmed the anomalous gold feature extending 1,500 meters to the south and
1,250 to the east of the previous target area. The 2020 program will include a similar compliment of work on
the recently expanded property (to what was completed in 2019) plus, drill road construction, excavator test
pitting and drilling subject to a permit application still in process.
Shale hosted orogenic gold deposits also called sediment hosted vein deposits are one of the most attractive
models for large gold deposits in the world and include the giant Murantau and Sukoy Log deposits in Russia
with resources of ±80 million ounces and ±20 million ounces gold each.
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 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 rel ease.