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Cariboo Rose Lines up Ducks in BC and Yukon
(via Thenewswire.ca) Vancouver, BC, October 8 , 2013 - Cariboo Rose Resources Ltd. (TSX...
About this update from Cariboo Rose Resources Ltd.
[{"type":"text","content":"Cariboo Rose Lines up Ducks in BC and Yukon(via Thenewswire.ca)\n\n \nVancouver, BC, October 8, 2013 - Cariboo Rose Resources Ltd. (TSX-V: CRB) (\"Cariboo Rose\") is pleased to announce that it has regained a 100% interest in the Carruthers Pass volcanogenic massive sulphide prospect located in northern British Columbia.\n\n \n \nCarruthers Pass was acquired by Cariboo Rose from the Phelps Dodge Corporation of Canada Limited (later Freeport-McMoRan of Canada Limited) in 2003. The agreement with Phelps Dodge required Cariboo Rose to pay $120,000 (or issue shares valued at payment requirements), and complete $750,000 in exploration by May 31, 2012. Cariboo Rose entered into subsequent option deals with Maxtech Ventures Inc., Hawthorne Gold Corp. and La Quinta Resources Corp. that satisfied these requirements by May 31, 2012. On Sept 30, 2013 the option agreement between Cariboo Rose and La Quinta Resources Corp. was terminated, and Cariboo Rose Resources regained a 100% interest in the project.\n\n \n \nIn 1997 Phelps Dodge Corporation discovered an occurrence of massive sulphide at the base of a talus slope on the Carruthers Pass project and explored the discovery with several programs. The massive sulphide occurrence had been variously interpreted to be outcrop or a large block of rock that broke off an adjacent cliff. In 2011 La Quinta Resources Ltd. completed a drill hole into the massive sulphide occurrence intercepting 3.1 metres grading 6.2% copper, 5.8% zinc, 192.0 g/t silver and 2.37 g/t gold before exiting the massive sulphide and encountering unconsolidated sediments. The conclusion was made that the massive sulphide was not in place and most likely originated from an outcrop on the adjacent cliff face. The company considers Carruthers Pass to be highly prospective with a number of untested geophysical, geochemical and geological targets.\n\n \n \nAs previously reported on July 11, 2013, the company recently regained a 100% interest in the Canadian Creek property located in the Yukon Territory approximately 160 kilometres south of Dawson City. The property encompasses 320 claims covering 6,180 hectares and is prospective for both copper-gold porphyry mineralization (Casino style) and lode gold mineralization (Kaminak style). The Canadian Creek property borders Kaminak Gold Corporation's (TSX-V: KAM) Coffee Gold property...