Coquigold Project Acquired
(TheNewswire)
Vancouver, BC / TheNewswire / Dec 10, 2018, Cariboo Rose Resources Ltd. (“Cariboo”) (TSX-V: CRB) is pleased to announce that it has staked three claim blocks adjacent to the Coquihalla highway in response to the recent success being achieved at the Shovelnose gold project owned and operated by Westhaven Ventures Inc. (TSX-V: WHN). The three blocks have collectively been named the Coquigold Project.
The first block to be staked is located approximately 14 kilometers southwest of the community of Merritt BC. This target covers an area where, in 2008, the BC Geological Survey discovered extensive outcrops of silica which they describe as follows: “A new occurrence characterized by stratified and strataform silica carbonate horizons, has been discovered within shallow–marine stratified volcanic and sedimentary rocks of the Late Triassic Nicola Group. Named the Castillian Creek Exhalite-Sinter, they have weakly anomalous signature for the epithermal suite of elements” (BCMEMPR Open file 2008-08). Important gold deposit models which have associated silica sinter include the Fruta del Norte deposit in Equator currently owned by Lundin Gold Inc. (TSX: LUG) and a number of gold deposits in Nevada.
The second block, located 4 kilometers to the west of the first, covers what is described in Open file 2008-08 (BC Geological Survey) as “a banded chalcedonic unit 0.50 to 0.75 meters thick” which returned anomalous concentrations of zinc (3,528 ppm), silver (915 ppb) and arsenic (110 ppm) and tellurium.
The third block, located 5 kilometers to the south of the first block and 5 kilometers north of Shovelnose Mountain, covers what is described as “a silica altered volcanic subcrop” highly anomalous in silver (2,423 ppb), lead (794.5 ppm), arsenic (173 ppm), mercury (4,250 ppb) and antimony (22.8 ppm).
All of the three blocks contain strong evidence of epithermal mineralization which often includes anomalous concentrations of arsenic, mercury and antimony in a high silica substrate.
Cariboo Rose Resources is strategically acquiring a number of early stage precious metal projects in accessible locations in southern British Columbia with Coquigold being the latest acquisition. Other projects within this initiative include the Koster Dam project (under option to Oakley Ventures–a private company) located near the former producing Blackdome Mine and the Carbonate Hosted Gold project located in the Marble Range northwest of the community of Clinton. These projects both enclose extensive gold geochemical anomalies.
J.W. (Bill) Morton P.Geo, within the context of the requirements of NI-43-101, is the qualified person who takes full 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
In addition to its 100% owned Canadian Creek property located in the Yukon Territory Cariboo Rose owns interests in four mineral projects in British Columbia.
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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