(TheNewswire)
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Vancouver, BC, April 12, 2024, TheNewswire, Cariboo Rose Resources Ltd. (“Cariboo Rose”) (TSX-V: CRB) has been advised by Vizsla Copper Corp. (“Vizsla Copper”) (TSX-V: VCU) that Vizsla Copper is terminating its option on the Carruthers Pass volcanic massive sulfide project located in northern British Columbia to enable it to focus on its porphyry copper gold projects located in southern British Columbia; particularly Woodjam.
Carruthers Pass is a shale hosted massive sulfide project (base, precious metals and cobalt), discovered in 1997 by Freeport McMoRan Copper and Gold. In 2003 Cariboo Rose Resources Ltd. acquired the right to Carruthers Pass through an option agreement with Freeport (then Phelps Dodge Corporation) and earned a 100% interest in the project in 2011 through completion of a series of cash and share payments, work commitments, and back in privileges (subject to a 2.5% net smelter interest reducible to 1.0% for $1.5M in favor of Franco-Nevada Corporation).
Most significant to Carruthers Pass is a large mass of mineralized rock protruding from talus below gossanous cliffs in the upper reaches of a valley. In 2011 the mineralized mass was core drilled yielding an intercept of 3.1 meters grading 6.2% copper, 5.8% zinc, 2.37 g/t gold and 192.0 g/t silver before the drill bit passed out of mineralization into unconsolidated material (i.e. the mineralized mass is not in place). It is, nevertheless, almost certain that the originating source (bedrock) for the mineralized mass is very local.
Most recently in 2022 a program including a VTEM helicopter borne electromagnetic and aeromagnetic survey followed by a four-hole (1,345m) drill program was competed at a cost of $1,950,000. Despite limited results in the four drill holes they were surveyed with a down-hole EM procedure which successfully located an off-hole conductor in one hole which remains untested.
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: info@eastfieldgroup.com
About Cariboo Rose Resources Limited
Cariboo Rose owns seven mineral projects in British Columbia. In addition to Carruthers Pass these are:
-Lightning Strike, shale hosted gold, located east of 100 Mile House, 100% owned.
-Carbonate Hosted Gold, gold, located northwest of Clinton, BC, 70% option to Basin Uranium Corp
-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. Readers are advised that this news release contains a number of forward-looking statements that may not occur to fruition.
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