(TheNewswire)
Vancouver, BC / TheNewswire / May 15, 2017 - Cariboo Rose Resources Ltd. (TSX-V: CRB) ("Cariboo Rose") is pleased to announce the 2017 exploration program on the Canadian Creek Project, Yukon. The Canadian Creek Project lies adjacent to the multi-million-ounce Coffee Gold Project of Goldcorp Inc (TSX: G, NASDAQ: GG) in what is becoming one of Canada's most exciting gold districts. Other major companies active in the area include Kinross Gold (TSX: K, NYSE: KGC) and Agnico Eagle (TSX: AEM, NYSE: AEM) (major shareholder in White Gold Resources).
This program will be a follow-up of the continuing target development work from 2016 and earlier programs where several kilometre to multi-kilometre long gold-arsenic+/-antimony geochemical anomalies have been outlined. Float rock sampling and a limited amount of drilling has validated portions of these anomalies as characterizing a large mineralizing system similar to the neighboring Coffee property of Goldcorp.
The 2017 program will begin in mid-June and entail in-fill soil sampling to better define trends within the large geochemical anomalies, followed by drill-site building and a reverse circulation drilling program. The drilling program will be used to complete a first-pass test of a few of the geochemical anomalies and is expected to start at the beginning of August. It is anticipated that in the order of 20 holes will be completed.
Cariboo Rose's Canadian Creek Project is located 150 km south of Dawson City and borders, on the south side, Goldcorp Inc.'s Coffee Gold property. Goldcorp recently acquired the property by purchasing Kaminak Gold Corp. Adjoining Canadian Creek's eastern claim boundary is the large tonnage Casino copper-gold-molybdenum porphyry deposit owned by Western Copper and Gold Corp. (TSX: WRN).
The Canadian Creek property, approximately 10 km by 6.5 km in size, hosts structurally localized gold-bearing zones in the northern half of the property similar in style to Goldcorp's Coffee deposit and porphyry copper-gold-molybdenum mineralization similar to Western Copper and Gold's Casino deposit on the southern half (for more information, reports and maps go to: www.cariboorose.com).
G. Garratt, P.Geo., is a qualified person within the context of National Instrument 43-101, and has read and takes responsibility for this news release.
Glen Garratt, P.Geo, Director.
Cariboo Rose Resources Ltd.
Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611
About Cariboo Rose Resources Limited
Cariboo Rose Resources is a well-funded prospect generating mineral exploration company with six precious and base metal exploration projects in BC and the Yukon. Cariboo Rose trades on the TSX Venture exchange under the symbol "CRB". For more information please visit the Company's website at 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.
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