Business
Drill Program Planned at Pat Copper-Gold Project, Cariboo Region of BC
Drill Program Planned at Pat Copper-Gold Project, Cariboo Region of BC
About this update from Fjordland Exploration Inc.
[{"type":"text","content":"\nDrill Program Planned at Pat Copper-Gold Project, Cariboo Region of BC\n\n\n Sep. 15, 2009 (TheNewswire.ca) -- Vancouver, BC, September 15, 2009 - Cariboo Rose Resources Ltd. (TSXV:CRB) (\"Cariboo Rose\")(TSX-V: CRB) and Astorius Resources Ltd. (TSXV:ASQ) (\"Astorius\")(TSX-V: ASQ) are pleased to report Astorius has signed a drill contract with Phil's Diamond Drilling Ltd. of Kamloops, BC to complete a drill program on the Pat mineral property located approximately 15 kilometres east of Horsefly, in the Cariboo Region of central British Columbia.The Pat project, encompassing 1,330 hectares, was staked to cover a prominent magnetic anomaly indicated in government surveys within the prolific Quesnel terrane. The magnetic feature at Pat is approximately 4.0 kilometres across and roughly circular. The Pat airborne magnetic anomaly is comparable in area and intensity on government airborne survey maps to the magnetic feature which occurs at Imperial Metal Corporation's (TSX: III) Mount Polley copper-gold mine some 35 kilometres to the northwest. A strong induced polarization (IP) anomaly, detailed by Cominco Limited in 1990, occurs immediately to the east of the magnetic anomaly and although drilled without significant results in 1991, can be reinterpreted as a pyrite halo.The Pat property is bounded to the south and west by the Woodjam North property owned by Cariboo Rose and Fjordland Exploration Inc. (TSXV:FEX) (TSX-V: FEX) which recently became subject to an option agreement with a member of the Gold Fields Limited group of companies (NYSE: GFI). The Pat property is also located 12 kilometers to the north of hole WJ-08-84, drilled in 2008 on the Cariboo Rose and Fjordland Exploration Inc. owned Woodjam South property which intercepted 201 metres grading 1.01% copper and 0.44 g/t gold. Astorius and Cariboo Rose anticipate drilling four wide spaced holes in the target.The Pat property is owned by Cariboo Rose Resources and is subject to an option agreement which gives Astorius the right to earn a 60% interest in it by completing $1.2 million dollars in exploration, and paying $150,000 in cash and issuing 200,000 shares to Cariboo Rose, before July 9, 2011.J.W. (Bill) Morton, P.Geo.President and CEOCariboo Rose Resources Ltd.Contact: Paul Way, Business Development Manager(604) 681-7913 or Toll Free: 888-656-6611About Cariboo Rose ...