Cariboo Rose Resources: Thunder Ridge Gold-Silver Project Acquisition Approved
thenewswire.com
Vancouver, BC, February 6, 2025 – TheNewswire - Cariboo Rose Resources Ltd. “Cariboo Rose” (TSX-V: CRB) is pleased to announce that it has received TSX-V approval for an arms length transaction to option six mineral claims known as the Thunder Ridge gold-silver property (“Thunder Ridge”) which lies contiguous to its Lightning Strike gold-silver property (“Lightning Strike”) in British Columbia.
The Company has the right to earn a 100% interest in the Thunder Ridge property after making cash payments of $50,000 and share issuances of 900,000 over a three year period. Payments $5,000 cash and 100,000 shares due upon signing of the option agreement have been paid. A 2.0% Net Smelter Return, reducible to 0.75% for $1,250,000 cash and 500,000 shares within 36 months of a of positive Preliminary Economic Assessment, is reserved for the vendor.
Many impressive historical gold-silver drill intercepts have occurred on the Thunder Ridge Property including:
Hole
| Au (g/t)
| Ag(g/t)
| meters
| SC005
| 45.49
| 7.9
| 2.5
| SC007
| 0.81
| 24.1
| 20.5
| SC017
| 8.84
| -
| 7.5
| SC018
| 2.88
| -
| 24.0
| SC031
| 0.77
| -
| 54.0
|
ABOUT LIGHTNING STRIKE
The 100% owned Lightning Strike property, located 60 kilometers northeast of the community of 100 Mile House, BC and encompassing 4,192 hectares (10,104 acres), is permissive for shale hosted precious metal. Shale hosted gold deposits are one of the most attractive models for large gold deposits in the world and include the giant Murantau and Sukoy Log deposits in Russia. A number of noteworthy drill holes on Lightning Strike (outside Thunder Ridge) include:
- 3.42 g/t gold and 228.1 g/t silver over 5.0 meters
- 0.62 g/t gold and 7.2 g/t silver over 38.0 meters
- 0.77 g/t gold over 20.0 meters, and
- 19.30 g/t gold over 1.5 meters.
The property is well bisected by logging roads and is pickup truck accessible. An exploration permit to drill, valid until April 28, 2029, was granted in 2024.
J.W. (Bill) Morton P. Geo, within the context of the requirements of NI-43-101, is the qualified person who takes responsibility for this news release.
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
Website: www.cariboorose.com
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 news release. |
