Business
New Mineralized Zone Discovered by Drilling at the Woodjam, BC Project
(via Thenewswire.ca)
About this update from Cariboo Rose Resources Ltd.
[{"type":"text","content":"New Mineralized Zone Discovered by Drilling at the Woodjam, BC Project\n\n(via Thenewswire.ca)\nVancouver, BC, October 1, 2008 ─ Cariboo Rose Resources Ltd. (\"Cariboo Rose\") (TSX-V: CRB) and Fjordland Exploration Inc. (\"Fjordland\") (TSX-V: FEX) are pleased to report that reconnaissance drilling on the Deerhorn geophysical target has identified a new area of copper mineralization on the Woodjam property, 40 km east of the city of Williams Lake, BC. Drill holes WJ-08-92 and 93, spaced 100 m apart, have both intersected intervals of quartz-chalcopyrite-magnetite veining as well as disseminated chalcopyrite mineralization in an area approximately 1.5 km northeast of the Megabuck copper-gold zone. The intrusion hosting mineralization in the newly-drilled Deerhorn Zone visually appears similar to that intersected in the Megabuck Zone. The Joint Venture considers this a new discovery that again indicates the good exploration potential on this property. The final reconnaissance exploration drill hole of this phase has been spotted and will be started this week on another un-drilled IP/magnetic geophysical target. Four large areas of copper mineralization have now been identified within an area of 5.0 km by 6.0 km: Megabuck, Takom, Southeast and now Deerhorn.\n\nSeven drill holes were recently completed in the Southeast Zone and analytical results are expected within the next two weeks. The Southeast Zone was discovered by drilling a geophysical target late in 2007 and 15 drill holes have been completed to date with all 15 holes intersecting mineralized intrusive. Further drilling is being planned for this exciting new occurrence where grid drilling covers an area of 550 m by 250 m that is well mineralized and open ended. The last reported drill hole in this area, WJ-08-83, intersected 402.0 m of 0.44% copper, 0.079 g/t gold and 0.006% molybdenum (including 71.93 m of 0.80% copper, 0.123 g/t gold and 0.003% molybdenum). Three other widely spaced holes indicate that mineralization has been intersected along 1,000 m of the 1.5 km long IP geophysical target. Less than one third of the geophysical target has been drill tested.\n\nA sample of molybdenite from the Southeast Zone was submitted to the BC Geological Survey for age dating and has returned a date of approximately 197 million years. This date coincides very closely with a...