Business
Southeast Zone Returns 0.40% Copper and 0.014% Molybdenum over 114 Metres
January 18 2008
About this update from Cariboo Rose Resources Ltd.
[{"type":"text","content":"Southeast Zone Returns 0.40% Copper and 0.014% Molybdenum over 114 Metres\n\n\nJanuary 18 2008\n\nCariboo Rose Resources Ltd. (TSX-V: CRB) (“Cariboo Rose”) and Fjordland Exploration Inc. (TSX-V: FEX) (“Fjordland”) are pleased to report the final results for the 2007 drill program completed at the Woodjam Project, located in the Cariboo region of south-central British Columbia.\n\nResults from the Southeast Zone:\n\nHole 07-79, the most northerly of three widely-spaced vertical holes in the newly discovered Southeast Zone on the Woodjam property, intersected 203.55 metres of copper-molybdenum mineralization averaging 0.34% copper and 0.014% molybdenum from bedrock surface at 145.2 metres to 348.75 metres, near the limit of the drill rig. The final 3.9 metres of the hole encountered a cross-cutting, post-mineral basaltic dyke and the mineralization in this hole is thought to be open ended. A higher-grade portion of this hole beginning at the bedrock surface graded 0.40% copper and 0.014% molybdenum over 113.8 metres.\n\nHole 07-79 was drilled three metres east of hole 07-78 which was lost at bedrock where 1.2 metres of mineralization graded 0.38% copper and 0.012% molybdenum. Hole 07-79 is a 310-metre northern step out from hole 07-73, which in turn was a 500-metre northern step out from hole 07-72 (both drilled earlier in the 2007 program). All three holes (07-79, 07-73, and 07-72) bottomed in copper-molybdenum mineralization (excepting the dyke noted above in 07-79) over an open-ended distance of 810 metres. The IP chargeability anomaly that formed the initial drill target measures 1,500 metres by 1,000 metres and remains largely untested.\n\nTom Schroeter, President of Fjordland Exploration comments, “This drill intersection in hole 07-79 compares very favourably with the grades in the current reserves (383.6 million tonnes grading 0.310% copper and 0.009% molybdenum) and resources (530.0 million tonnes grading 0.309% copper and 0.007% molybdenum) at the nearby Gibraltar open-pit mine. With 3 holes bottomed in mineralization, we are looking at the potential for a similar large-tonnage body.”\n\nResults from the Takom Zone:\n\nHole 07-77 intersected 53.3 metres of 0.27% copper and 0.29 g/t gold (206.7 metres to 260.0 metres). The highest individual 3-metre samples graded up to 0.93 g/t g...