Business
Carruthers Pass Update
(TheNewswire) Vancouver, BC – TheNewswire - Nov 23, 2021 - Car...
About this update from Cariboo Rose Resources Ltd.
[{"type":"text","content":"Carruthers Pass Update\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, BC –\n \n \n TheNewswire -\n \n \n Nov 23, 2021 - Cariboo Rose Resources Ltd.\n(“Cariboo Rose”)\n \n (\n \n TSXV:\n \n \n \n CRB\n \n \n )\n \n (\n \n \n OTC:\n \n \n CROOF\n \n \n )\n \n and\n \n Vizsla Copper Corp. (“Vizsla\nCopper”)\n \n (\n \n TSXV:\n \n \n VCU\n \n )\n \n (\n \n \n OTC:\n \n \n VCUFF\n \n \n )\n \n have amended the option\nagreement dated Feb 1, 2021 whereby Vizsla may earn a 60% interest in\nthe Carruthers Pass property. The amendment removes a requirement of\nVizsla to complete $100,000 of work before the first anniversary and\nreplaces it with a requirement to complete $400,000 before the second\nanniversary. To complete the option Vizsla Copper is required to\ncomplete $3,000,000 in exploration and make $650,000 in option\npayments (cash and shares) over a five year term.\n \n \n Carruthers Pass is a copper-zinc-silver-gold and cobalt property\nlocated in northern BC approximately 75 kilometers southeast of the\nformer producing Kemess copper gold mine owned by Centerra Gold Inc.\n(\n \n TSX:\n \n \n CG\n \n ). It was discovered in 1997 by\nthe Phelps Dodge Corporation of Canada (now Freeport McMoRan Copper\nand Gold Inc.). Cariboo Rose acquired Carruthers Pass in 2003 through\nan option agreement with Phelps Dodge and earned a 100% interest in\nthe project in 2011 (subject to a 2.5% net smelter interest reducible\nto 1.0% for $1.5M owned by Franco Nevada Corporation).  Most\nsignificant to the project is a mineralized slab of rock in the upper\nreaches of a valley below gossanous cliffs. In 2011 the mineralized\nslab was core drilled to determine whether or not it was outcrop. An\nintercept of 3.1 meters grading 6.2% copper, 5.8% zinc, 2.37 g/t gold\nand 192.0 g/t silver was obtained before the drill bit passed through\nmassive sulfide and into unconsolidated material. Although the exact\nsource of the mineralized slab has not been located it is almost\ncertainly local. Numerous untested airborne electromagnetic (EM)\nanomalies exist on the property.\n \n \n The Carruthers Pass property is approximately 200 kilometers northeast\nof the community of Smithers. The Kemess Mine Road passes 25\nkilometers north and east of the claims while industrial logging roads\nextend from Takla Lake...