(TheNewswire)
Vancouver, BC / TheNewswire / September 5, 2017 - Cariboo Rose Resources Ltd. (TSX-V: CRB) ("Cariboo Rose") is pleased to note the announcement made on September 2, 2017 by Prime Minster Justin Trudeau and Yukon Premier Sandy Silver committing more than $360 million in combined federal and territorial funding to improve road access in two mineral-rich areas in Yukon, including the Dawson Range which hosts the White Gold District. In total, the Yukon Resource Gateway Project will help upgrade over 650 km of road and build or replace numerous bridges, culverts and stream crossings. In the Dawson Range, four separate public road systems will be upgraded.
In today's news release by Western Copper and Gold Corporation which owns the Casino copper-gold-molybdenum deposit (currently in the permitting phase) on the eastern boundary of Cariboo Rose's wholly owned Canadian Creek Project, stated they are "pleased to announce that complete funding for upgrading the initial 82 km of the existing access road to standards required for the Casino Project and 30% funding for the additional 126 km of new access road to the Casino site has been secured through commitments from the Yukon Territorial Government and Federal Government to fund the Yukon Resource Gateway Application".
This development has a very positive impact on the future access for Cariboo Rose's Canadian Creek Project as the Casino Project advances.
Cariboo Rose has recently completed a 24 reverse circulation drill holes (2,142 m) at its Canadian Creek project. The program was designed to give an initial test of several large geochemical and geophysical targets that fit the characteristics of mineralization on the adjacent Koffee property of Goldcorp. Assay results are expected before the end of September.
The Canadian Creek property is located approximately 160 km south of Dawson City and encompasses 311 claims. It abuts Western Copper and Gold's 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 multimillion ounce gold resources.
Glen 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, VP Exploration
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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