Vizsla Copper Options 60% interest in Carruthers Pass

2021-03-15 / @thenewswire

(TheNewswire)

Vancouver, BC – TheNewswire - March 15, 2021 - Cariboo Rose Resources Ltd. (“Cariboo”) (TSXV:CRB) has entered into an option agreement with Vizsla Copper Corp. (“Vizsla Copper”) that grants Vizsla Copper the right to earn a 60% interest in the Carruthers Pass, copper-zinc-sliver-gold and cobalt property located in northern BC approximately 75 kilometers southeast of the former producing Kemess copper gold mine owned by Centerra Gold. Vizsla Copper is a proposed spin out from Vizsla Resources Corp. which has recently changed its name to Vizsla Silver Corp. To complete the option Vizsula Copper is required to complete $3,000,000 in exploration and make $650,000 in option payments (cash and shares) over a five year term.

Carruthers Pass is a shale hosted massive sulfide project (base and precious metal), discovered in 1997 by the Phelps Dodge Corporation of Canada (now Freeport McMoRan Copper and Gold Inc.). Cariboo Rose Resources Ltd. acquired Carruthers Pass in 2003 through an option agreement with Phelps Dodge and earned a 100% interest in the project in 2011 (subject to a 2.5% net smelter interest reducible to 1.0% for $1.5M). Most significant to the project is a mineralized slab of rock protruding from talus in the upper reaches of a valley below gossanous cliffs. In 2011 the mineralized slab was core drilled. An intercept of 3.1 meters grading 6.2% copper, 5.8% zinc, 2.37 g/t gold and 192.0 g/t silver was obtained before the drill bit passed through massive sulfide and into unconsolidated material. Although the in situ source of the mineralized slab has not been located it is almost certainly local. No further work has been completed at Carruthers Pass since the 2011 program.

The Carruthers Pass property consists of eight contiguous mineral claims covering 3,250 hectares approximately 200 kilometers northeast of the community of Smithers. The Kemess Mine road passes 25 kilometers north and east of the claims while industrial logging roads extend from Takla Lake northward to within 35 kilometers of the property.

The discovery of Carruthers Pass by Phelps Dodge in 1997 occurred during evaluation of regional reconnaissance geochemical data from the BC Geological Survey which had identified several drainages originating from the area with anomalous copper, zinc, and cobalt values in silt samples. Rocks were subsequently determined to be dominated by argillaceous sediments of the Triassic Dewar formation and the mineralized slab and additional mineralized rubble was discovered. Much of the claim group has only received preliminary evaluation.

Planning is in progress for an exploration program this season which will be further described in subsequent news.

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), 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 LimitedV

Cariboo Rose owns seven mineral projects in British Columbia. These include:

-Lightning Strike, shale hosted gold, located east of 100 Mile House, 100% owned

-Pat, porphyry copper-gold, contiguous with Consolidated Woodjam Copper, 100% owned

-Coquigold, epithermal gold, located north of Westhaven Gold Shovelnose, 100% owned

-Cowtrail, porphyry copper-gold, contiguous with Consolidated Woodjam Copper, 100% owned

-Carruthers Pass, located southwest of Kemess Mine, 60% option to Vizsla Copper Corp

-Carbonate Hosted Gold, located northwest of Clinton, 60% or 70% option to Black Shield Metals Corp

-Koster Dam, gold, located near Gang Ranch 55% - 45% joint venture with Oakley Ventures Inc

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.