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Cariboo Rose Consolidates Interest in Yukon Claims
(via Thenewswire.ca) Vancouver, BC / TNW-ACCESSWIRE / April 24, 2014 / Cariboo R...
About this update from Cariboo Rose Resources Ltd.
[{"type":"text","content":"Cariboo Rose Consolidates Interest in Yukon Claims(via Thenewswire.ca)\n\n \nVancouver, BC / TNW-ACCESSWIRE / April 24, 2014 / Cariboo Rose Resources Ltd. (TSX-V: CRB) (\"Cariboo Rose\") is pleased to advise that it has further consolidated its interest in the Canadian Creek project by substantially completing the terms of an earn-in on the Casino \"B\" portion of the Canadian Creek claims and acquiring a minority interest in another portion of the claims called the Ana.\n\n\n \nThe Canadian Creek property, covering 6,180 ha, is located in the Yukon approximately 160 km south of Dawson City. The Canadian Creek property borders Kaminak Gold Corporation's (TSX-V: KAM) Coffee Gold property immediately south of the recently discovered Sugar Zone. On its eastern claim boundary the property is bordered by the large tonnage Casino copper-gold-molybdenum porphyry deposit owned by Western Copper and Gold Corp. (TSX: WRN). Of the 320 claims that make up the Canadian Creek property, 265 are now owned outright by Cariboo Rose, and 55 claims, constituting the \"Casino B\" option, are registered in the name of Casino Mining Corp., wholly-owned by Western Copper and Gold. Cariboo Rose is now close to completing the work programs and assessment work requirements for these 55 claims in accordance with the terms of the \"Casino B\" option agreement entered into in the year 2000 to earn a 100% interest in the claims subject to a 10% net profits interest. As well, in December 2013, Cariboo Rose paid a sum of $15,000 to a minority partner for their 11.8% interest in the Ana Joint Venture and now holds 100% of these claims. \n\n \n \nExploration on the Canadian Creek property has been on-going since the early 1980's. Cariboo Rose and its predecessor companies have been involved since 1992 with various partners who have spent approximately $3.5 million. The initial focus of exploration on the property was to explore for potential western extensions to the nearby Casino copper-porphyry deposit owned by Western Copper and Gold. Drill campaigns in 1993 and 1994 by Eastfield Resources Ltd. (TSX-V: ETF), and in 2000 and 2007 by Wildrose Resources Ltd. primarily focused on the portion of the claims immediately west of the Casino deposit. These programs returned a number of positive results including 0.72 g/t Au over 55.0 m in drill hole 94-319 in Casino Com...