Business
Cariboo Rose Resource's CEO Reviews the Company
(TheNewswire) Vancouver – TheNewswire - January 5, 2024 - Caribo...
About this update from Cariboo Rose Resources Ltd.
[{"type":"text","content":"Cariboo Rose Resource's CEO Reviews the Company\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver –\n \n \n TheNewswire\n-\n \n \n January 5, 2024 -\n \n \n Cariboo Rose Resources\n \n \n Ltd. “Cariboo Rose”\n(TSXV:CRB)\n \n \n is pleased to review the assets of\nthe company which consist of seven mineral properties located in\nBritish Columbia plus cash and marketable securities currently valued\nat approximately $400,000. The company has no debt and has never been\nconsolidated.\n \n \n \n \n Cariboo Rose operates on a model where option\nagreements with other companies derive both income and exploration\nleverage. A summary of projects effective the beginning of 2024\nfollows.\n \n \n \n \n Lightning Strike\n \n \n : A 100% owned shale hosted gold silver project modelled on\nthe Spanish Mountain Gold Project located in similar rocks 95\nkilometers to the northwest owned by Spanish Mountain Gold Ltd.\n(TSX-V: SPA) and the FG Gold Project located 35 kilometers to the\nnorth. Shale hosted orogenic gold deposits are one of the most\nattractive models for large gold deposits in the world and include the\ngiant Murantau and Sukoy Log deposits in Russia.  Seven historic\ndrill holes on the Lightning Strike claims include intercepts of 3.42\ng/t gold and 228.1 g/t silver over 5.0 meters, 0.77 g/t gold over 20.0\nmeters and 19.30 g/t gold over 1.5 meters. Reverse circulation (RC)\ndrill holes completed in 2021 by Cariboo Rose included results of 0.62\ng/t gold and 7.2 g/t silver over 38.0 meters including 1.43 g/t gold\nand 16.3 g/t silver over 10.6 meters and 0.54 g/t gold and 14.8 g/t\nsilver over 19.8 meters.\n \n \n \n \n Carruthers Pass\n \n \n : 100% owned subject to an option with Vizsla Copper Corp.\n(TSX-V: VSU) who may earn a 60% interest in the project by making\npayments of $650,000 and completing $3,000,000 in exploration By\nFebruary 17, 2026. Sediment hosted massive sulfide mineralization was\ndiscovered at Carruthers Pass by Freeport McMoRan Copper and Gold in\n1997 and in 2003 a 100% interest in the project was sold to Cariboo\nRose (earn-in completed in 2012 subject to a 2\n \n \n 1\n \n \n /\n \n \n 2\n \n \n % royalty to Franco-Nevada\nCorporation). The property is located in northern BC south of the\nKemess copper-gold mine Most significant to t...