More on Cariboo Rose Resources
Cariboo Rose Resources (TSX VENTURE:CRB) would like to announce the plans for
the summer season. It will be an active season with exploration on three
properties in British Columbia and one in the Yukon.
The Canadian Creek copper-gold-molybdenum property in the Yukon, located
approximately 300 km northwest of Whitehorse and 160 km south of Dawson City,
will have seven to nine holes drilled in promising targets. A budget of
$400,000 has been approved and a contract with a diamond drill contractor
signed. Drilling is expected to begin in early July. North American Vanadium
Inc. (CNQ:NAVI) will fund the work under an option that gives them the right
to earn a 60% interest in the property. This property, which has the potential
to host a porphyry style or an intrusion related deposit, is located to the
immediate west of the Casino deposit. Previous drill highlights include 150
metres grading 0.49 g/t gold and 26 metres grading 1.04 g/t gold.
The Woodjam gold-copper property is located in south-central British Columbia
70 kilometres east of Williams Lake and five kilometres from the Mount Polley
claim group. Woodjam is a joint venture between Cariboo Rose and Fjordland
Exploration (TSX VENTURE:FEX) where Cariboo Rose holds a 40% interest in the
property and Fjordland holds a 60% interest. Previous drilling in Woodjam has
included 361 metres grading 0.84 g/t gold and 0.12% copper and 358 meters
grading 0.82 g/t gold and 0.12% copper. An induced polarization study is
currently ongoing, preliminary results are encouraging and drilling is planned
to follow up the geophysical program.
The Carruthers Pass copper-zinc-silver property is located in northern British
Columbia, approximately 70 kilometres south of the Kemess gold-copper mine and
200 kilometres north of Smithers. It is under option to Hawthorne Gold Corp.
(TSX VENTURE:HGC) who may earn a 60% interest in the property. Hawthorne
completed a surface mapping and prospecting program in 2006 at a cost of
$130,000 with a follow up program planned for 2007.
The Cowtrail gold-copper property is located five kilometres southeast of the
existing Mt. Polley claim group, operated by Imperial Metals Corporation. The
property covers an airborne magnetic feature that extends to the northwest
from a weakly mineralized alkalic intrusive discovered by drilling completed
by Eastfield Resources and Imperial Metals Corporation in 1998. It is under
option to Dajin Resources Corp. (TSX VENTURE:DJI) who may earn a 65% interest
in the property. In 2006, $91,000 was spent by Dajin Resources Corp. to
establish grids and complete 20 line kilometres of magnetometer and induced
polarization surveys. This work has resulted in the identification of a number
of promising targets that will be evaluated in 2007.
J.W. Morton, P.Geo is the qualified person who has reviewed and takes
responsibility for this news release.
J.W. (Bill) Morton, P.Geo, President
About Cariboo Rose Resources Ltd.
Cariboo Rose Resources Ltd. is a Canadian public resource company that trades
on the TSX - Venture exchange under the symbol CRB and currently operates five
mineral exploration projects in Western Canada. It was spun off of Wildrose
Resources (TSX VENTURE:WRS) in 2006, to allow Wildrose to focus on the Spanish
Mountain Project.
Cariboo Rose Resources is part of The Eastfield Group. Since its inception in
1987, The Eastfield Group has utilized a successful business strategy that
amplifies its exposure by securing third party exploration financing on the
majority of its projects. This has allowed the company to minimize share
dilution and risk, while maximizing leverage. The other companies in The
Eastfield Group are Eastfield Resources (TSX VENTURE:ETF) and Wildrose
Resources (TSX VENTURE:WRS).
The statements made in this News Release may contain certain forward-looking
statements. Actual events or results may differ from the Company's
expectations. Certain risk factors may also affect the actual results achieved
by the Company.
FOR FURTHER INFORMATION PLEASE CONTACT:
Cariboo Rose Resources Ltd. Paul Way Business Development Manager (604)
681-7913 or Toll Free: 1-888-656-6611 (604) 681-9855 (FAX) Email:
pway@eastfieldgroup.com Website: www.cariboorose.com
B&D Capital Partners (604) 685-6465 |
