Business
Cariboo Rose Begins Drilling at Coquigold
(TheNewswire) Vancouver, BC – TheNewswire - Dec ember 8 , 2022 - ...
About this update from Cariboo Rose Resources Ltd.
[{"type":"text","content":"Cariboo Rose Begins Drilling at Coquigold\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC\n \n \n –\n \n \n TheNewswire -\n \n Dec\n \n ember\n \n \n 8\n \n , 2022 -\n \n Cariboo Rose Resources Ltd. (“Cariboo\nRose”)\n \n (\n \n TSXV:\n \n \n \n CRB\n \n \n ) has begun\ndiamond drilling at its Coquigold epithermal gold-silver project\nlocated approximately 15 kilometers south of the community of Merritt,\nBC. Central to Coquigold is an area where in 2008 the BC Geological\nSurvey identified and sampled quartz sinter and several areas of\nsilicified (chalcedonic) volcanic and intrusive breccia, bedrock\nsampling in 2019 by Cariboo Rose confirmed an epithermal mineralizing\nevent with bedrock samples returning up to 43.1 grams per tonne\nsilver, 559 ppm arsenic, 13,400 ppb mercury and 101 ppm antimony. The\nCoquigold claim block, composed of 15 contiguous claims, covers 2,660\nhectares with its southern boundary approximately 3 kilometers north\nof Shovelnose Mountain Property where Westhaven Gold Corp is currently\nexploring the Shovelnose epithermal gold discovery.\n \n \n Fieldwork at Coquigold started in May, 2022 with 453 soil samples\ncollected on new claims staked in January of this year. This work was\nfollowed with a recently completed helicopter borne magnetic,\nradiometric and VLF-EM survey flown by Precision GeoSuveys of Langley,\nBC (490 line kilometers flown). Diamond drilling was initiated Dec 2\nwith 3 or 4 holes planned. The drill program is taking advantage of\nthe availability of a drill contractor to complete the work before\nsnow depth becomes problematic. Core will be stored until it can be\nlogged and sampled in the New Year.\n \n \n Coquigold is subject to a December 2021 option agreement with CMP\nMinerals Inc. (a private company), who may earn a 70% interest\n \n in the project by making option payments totaling $250,000\ncash; issuing 200,000 common shares;  paying an additional $250,000\nin cash or shares and incurring $2,000,000 in exploration\nexpenditures, over a period of four years.\n \n \n \n J.W. (Bill) Morton P.Geo, within the context of the requirements of\nNI-43-101, is the qualified person who takes responsibility for this\nnews release.\n \n \n \n Bill Morton\n \n \n \n J.W. (Bill) Morton, P.Geo., President\n \n \n \n Cariboo Ro...