(TheNewswire)
Vancouver, BC / TheNewswire / July 13, 2017 - Cariboo Rose Resources Ltd. (TSX-V: CRB) ("Cariboo Rose") is up and running at full capacity on its Canadian Creek property located in the Yukon Territory. All components of the camp are functioning properly and the crew currently consists of 10 people expanding to 15 in early August. The current work being completed is predominantly focused on infill soil sampling, magnetometer surveying and drill site construction for a drill program scheduled to start in early August.
The Canadian Creek property is located approximately 160 kilometers 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 kilometer long boundary with Coffee and a 6 kilometer boundary with Casino. Both Coffee (Goldcorp) and Casino (Western Copper and Gold) have published multimillion ounce gold resources. Other active programs in the area are being undertaken by several companies with particularly large programs being undertaken by White Gold Corp. (TSX-V: WGO) including one on the nearby Betty property.
The Canadian Creek Property, consisting of 311 claims, was assembled by Cariboo Rose (and predecessor companies) by staking and claim purchases over a period of 18 years starting in 1993. Geologically the claims straddle two distinct domains. The southern half of the claims are underlain by intrusive units which are believed to be the western continuation of the Casino Complex intrusions which host the Casino Deposit (owned by Western Copper and Gold) while the northern half of the claims are predominantly underlain by sediments and schist belonging to the package of rocks that host auriferous quartz carbonate veins constituting the Coffee Deposit (owned by Goldcorp). The two domains have readily identifiable magnetic characteristics as evidenced by a 484 line kilometer magnetic survey.
Cumulative expenditures completed on the property since work started in 1993 is approximately $4.8 million. Work completed to date includes more than 20 kilometers of road construction, 40 diamond drill holes, 87 line kilometers of induced polarization surveying, 484 line kilometers of ground base magnetic surveying and the collection and analysis of approximately 10,000 soil and rock samples. Cariboo Rose owns a 100% interest in the Canadian Creek property.
J.W. (Bill) Morton, P.Geo. is a qualified person within the context of National Instrument 43-101, and has read and takes responsibility for this news release.
J.W. Morton
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 Cariboo Rose owns interests in five mineral projects in British Columbia four of which are 100% owned. Cariboo Rose also owns a strategic investment of 500,000 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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