Extensive Gold Zones Indicated by Sampling Results from the Canadian Creek Project, Yukon

10/05/17 09:10 AM EDT

(TheNewswire)

Vancouver, BC / TheNewswire / October 5, 2017 – Cariboo Rose Resources Ltd. (TSX-V: CRB ) (“Cariboo Rose”) is pleased to announce results from the surface sampling program completed on the Canadian Creek Project located approximately 160 km south of Dawson City. It abuts Western Copper and Gold Corp’s (TSX: WRN ) Casino porphyry copper-gold-molybdenum property on the east and Goldcorp Inc.’s (TSX: G , NASDAQ: GG ) Coffee property on the north, sharing a 12 km long boundary with Coffee and a six km boundary with Casino. Both Coffee (Goldcorp) and Casino (Western Copper and Gold) have published multi-million ounce gold resources.

 

The surface sampling program was directed toward adding detail at two previously outlined target areas: Kana and Malt West. In-fill soil sampling, prospecting and rock sampling were completed with the goal of better defining possible mineralized structures within the large multi-element soil anomalies in each area. A total of 257 rocks and 1,568 soil samples were collected and a magnetic survey was also completed across the western end of the property where the Malt West target occurs. A reverse circulation drilling program completed 24 holes totaling 2,142 m with 9 holes on selected parts of the Kana area, 6 holes in the Malt East area, 7 holes in the Linear A target (which saw no new surface work) and 2 holes in the Koffee Bowl target. Several targets were not drill tested including the Malt West area (go to www.cariboorose.com to view a drill plan and zone map). Drilling results will be released when they are compiled .

 

The program continues to yield positive results that support the presence of large gold-bearing systems underlying the broad geochemical anomalies. Highlights of the results are as follows:

 

Kana Target Area

This area is approximately 5 km east-west and is defined by strong and largely coincidental gold and arsenic in soils anomalies and also contains two internal zones of anomalous bismuth near the eastern end and antimony at the western end. The antimony anomaly also coincides with strong silver-lead-zinc values. Prospecting here in 2017 discovered quartz vein float with massive stibnite-arsenopyrite with local galena, molybdenum and sphalerite near the end of a drill access road. Gold values from these samples range as high as 9145ppb with silver up to over the current assay limit of 1000g/t. Final assays for these high values are pending. A table of the significant results is given below.

 

Sample

Au ppb

Ag g/t

Pb ppm

Zn ppm

As ppm

Sb ppm

Mo ppm

Cu ppm

79430

9145

1001*

40001*

2.53%

4.17%

4.74%

0.3ppm

7715.5ppm

142795

4688

713g/t

40001*

5613ppm

4.24%

50001*

0.001ppm

816.4ppm

79431

3332

1001*

3.90%

3.56%

2.66%

1.75%

0.7ppm

905.3ppm

79432

3183

10g/t

0.03%

0.01%

71.3ppm

151ppm

0.53%

17.2ppm

79409

1696

251g/t

1.22%

8347ppm

1.47%

1.10%

0.2ppm

505.6ppm

              ( samples marked with * have over limit values; final assays are pending)

 

An area with anomalous silver and gold in float samples extends from the above samples to the west for over a kilometre.  The float samples here include quartz veins and strongly limonite-hematite stained gneiss, with gold values to 462ppb, silver to 51ppm, along with lead values to 2646ppm, arsenic values to 1.71%, and antimony to 1529ppm. The best results in this area form a cluster 900 metres west of the end of the road.

 

Malt West Target Area

This target is a linear 2.5 km long and 200-400 m wide zone outlined by anomalous Au, As, Ba, Sb and Mo. The soil geochemical results indicate mineral zoning and possibly fault displacement of the zone with strong barium in the northwestern part of the structure, gold in the central portion and arsenic to the southeast. Outcrop is sparse but rock float sampling displays alteration of limonite, hematite and jarosite occurring as fracture coatings and locally strongly pervasive. Local silicification has been noted along with quartz veining. Minor pyrite occurs locally with the alteration. Brecciation is common across the Malt West Zone, most commonly as strongly limonite stained clast-supported autobreccia, generally with open spaces and local quartz infill. Highlights of the rock float sampling are as follows:

 

Sample

Au ppb

Ag ppm

As ppm

Mo ppm

Sb ppm

Ba ppm

142776

1866.7

4.2

27.6

60.3

0.9

340

142778

1244.8

4

5.7

24.5

0.3

93

142769

168.6

0.001

2245.2

0.2

9670

107

142497

161.3

5697

2299.4

206.14

30.6

531.5

214119

3.3

1.2

4527.5

24.9

442.8

925

142754

2.2

1

3.7

14.6

0.2

49591

 

Malt East Target Area

Malt East trends north-northwest and is defined by a 1km long coincidental gold-arsenic-antimony in soil anomaly that is up to 450 metres in width. This soil anomaly occurs on the west side of a parallel (north-northwest) strong break in the ground magnetics which is interpreted to represent a fault or structure. Limited prospecting here in 2016 discovered no outcrop, but brecciated and sericite-clay altered float samples returned weak gold values but significant pathfinder results including >1% arsenic, silver to 104ppm, antimony to 1495ppm, and barium to 469ppm. Selected results from the float sampling include:

 

Sample

Ag ppb

As ppm

Au ppb

Sb ppm

Bi ppm

Ba ppm

142455

1044

1897.1

12.1

17.95

0.22

99.5

142456

10395

>10000.0

86.3

85.01

1.46

107.1

142474

361

101.1

8.8

1495.22

0.18

152.6

142479

605

325.1

22.1

9.93

0.58

496.9

1633355

68

420.3

13

6.4

0.11

74

 

The management of Cariboo Rose Resources Ltd. are very pleased with the results of the surface sampling and the outlining of extensive gold and silver bearing systems. The Canadian Creek Project continues to show the need for continued aggressive exploration.

 

Bob Johnston, P.Geo., a qualified person within the context of National Instrument 43-101, managed the field program and completed the data compilation at Canadian Creek and has read and takes responsibility for this news release.

 

Glen Garratt, P.Geo., VP, Director

Cariboo Rose Resources Ltd.

 

Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611

 

About Cariboo Rose Resources Limited

In addition to its 100% owned Canadian Creek property in the Yukon, Cariboo Rose owns interests in five mineral projects in British Columbia four of which are 100% owned. Cariboo Rose also owns a strategic investment 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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