Business
Canadian Creek Drilling Underway and New Ground Staked, Yukon
Canadian Creek Drilling Underway and New Ground Staked, Yukon
About this update from Cariboo Rose Resources Ltd.
[{"type":"text","content":"\nCanadian Creek Drilling Underway and New Ground Staked, Yukon\n\n\n Sep. 24, 2009 (TheNewswire.ca) -- Vancouver, BC, September 24, 2009 - Cariboo Rose Resources Ltd. (TSXV:CRB) (TSX-V: CRB) and Alder Resources Ltd. (TSXV:ALR) (TSX-V: ALR) are pleased to give an update on the exploration program on the Canadian Creek Property. The Canadian Creek property is located in the Whitehorse Mining District of the Yukon Territory 160 km south of Dawson City. The property is also 50 km southeast of the Underworld Resources Inc. (OOTC:UNDWF) (TSXV:UW) owned White Gold project and approximately 25 km southeast of Kaminak Gold Corp.'s (TSXV:KAM) (OOTC:KMKGF) Coffee property.A drill program, to total approximately 1,500 m, is expected to be completed in the next one to two weeks. The drill program is targeting a 4.0 km long trend of strong individual gold and arsenic soil anomalies that are 500 m to 1.5 km long (see news release dated Sept. 9/09) as well as geophysical targets outlined by IP chargeability highs.An additional 35 claims (733 hectares) have been staked which tie on to the north of the Canadian Creek property. These claims were staked in order to cover a possible extension of newly discovered soil and IP chargeability anomalies. This expands the property size to 5,533 hectares.A grab sample taken from a pyritic, quartz-bearing shear on the Ana claims returned 2.5 g/t gold and is associated with arsenopyrite. This area lies within a northeast trending soil gold anomaly that is approximately 1.2 km south of the newly gridded gold-arsenic anomaly described above. This area forms an additional target for future work.Alder can earn a 60% interest in the Property by making cash payments totaling $250,000 and issuing 250,000 shares to Cariboo Rose and fulfilling exploration expenditures on the property totaling $2,500,000 by June 18, 2013.G.L. Garratt, P. Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release. Bob Johnston, P. Geo., also a qualified person within the context of National Instrument 43-101, is supervising the project work in the field.Glen Garratt, P.Geo.VP Exploration, DirectorCariboo Rose Resources Ltd.Contact: Paul Way, Business Development Manager Phone (604) 681-7913, Toll Free: 888-656-6611 email: [email protected] Cariboo...