Tickers: XTSX:CRB
Tags: Mining
Vancouver, BC / TheNewswire / November 3, 2017 - Cariboo Rose Resources Ltd. (TSX-V: CRB) ("Cariboo Rose") reports. On October 30, 2017 Cariboo Rose published results of its recent reverse circulation drill program at the Canadian Creek project, Dawson Range Yukon Territory. Management considers the program very successful despite a significant market selloff following the release. While not encountering long intervals of "economic" grade gold mineralization the program did confirm in bedrock the existence of comparable geology and mineralization to what occurs on the adjacent Goldcorp owned (TSX: G, NASDAQ: GG) Coffee (Kaminak) property; particularly extensive intervals of extremely anomalous arsenic-antimony and bismuth ? gold-silver mineralization in granite and Yukon Metamorphic Group schist and gneiss lithologies. Narrow drill intercepts grading up to 4.46 g/t gold over 1.5m were obtained. Surface rock sampling, described in more detail in the news release dated Oct 5, 2017, returned values in rubble up to 9.15 g/t gold and >1000 g/t silver. Management is encouraged by these results and concludes that more drilling may intercept so far elusive economically significant gold silver bodies with greater grade over width characteristics.
Interest in the Canadian Creek project can be for two purposes; first for the commonalities with mineralization on the Goldcorp owned Coffee gold project and second for the exploration opportunities for a westward extension of the Casino copper-gold-molybdenum project owned by Western Copper and Gold (TSX-V: WRN). Recent market activity over the last 90 days in which approximately 9 million shares of Cariboo Rose have traded suggests to management that one group of investors has become disenchanted. Management nevertheless continues to believe that the Canadian Creek project, assembled painstakingly over the last 24 years and which shares a 12 kilometer boundary with the Goldcorp owned Coffee project and a 6 kilometer boundary with the Western Copper and Gold owned Casino project, represents and outstanding exploration opportunity.
J.W. (Bill) Morton P.Geo, 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) Morton, P.Geo.
President
Cariboo Rose Resources Ltd.
Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: info@eastfieldgroup.com
About Cariboo Rose Resources Limited
In addition to its 100% owned Canadian Creek property Cariboo Rose owns interests in five mineral projects in British Columbia three of which are 100% owned. Cariboo Rose also owns a strategic investment of free trading shares in Western Copper and Gold 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.
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