Cariboo Rose Acquires 100% interest in Cowtrail Copper Gold Project
Vancouver, March 29, 2018 - Cariboo Rose Resources Ltd.. TSX-V: CRB ("Cariboo Rose", is pleased to announce that it has re-acquired a 100% interest in the Cowtrail gold copper project-located in the Cariboo region of British Columbia. The Cowtrail property encompasses 4,600 hectares and is contiguous to the Woodjam project owned by Consolidated Woodjam Copper TSX-V: WCC ("Consolidated Woodjam". Goldfields of Johannesburg SA was an option/joint venture partner on the Woodjam property from 2009 to 2015. During this period Goldfield calculated inferred resources for four areas on the Woodjam property with the two largest being the Southeast Zone with 227.5 million tonnes grading 0.31% copper and 0.05g/t gold and the Deerhorn Zone with 32.8 million tonnes grading 0.22% copper and 0.49 g/t gold. (sedar May 15, 2013). The Cowtrail property was acquired by Wildrose Resources Ltd. "Wildrose", predecessor Company to Cariboo Rose) in 2004 by staking and claim purchase from Amarc Resources Ltd. TSX-V: AHR in the same year. In 2006 Wildrose optioned a 65% interest in Cowtrail to Dajin Resources Corp. TSX-V: DJI ("Dajin") who satisfied the option in 2011. The property is located near the community of Horsefly and is underlain by rocks consisting of Upper Triassic to Lower Jurassic alkalic volcanics and intrusives. The area is relatively flat and outcrops are infrequent. Through its work on the project Dajin identified a large induced polarization / magnetic and soil geochemical target and completed 14 drill holes totaling 4,160 meters. Highlights of the drilling include hole 2007-001 which returned 18.2 meters grading 1.16 g/t gold and hole 2011-012 which returned 40.0 meters grading 0.17% copper and 0.11 g/t gold.
Dajin, currently focused on lithium exploration in the Americas, has recently transferred its interest in the property to Cariboo Rose subject to an agreement by Cariboo Rose to share any third party option proceed with Dajin on a 50%-50% basis for a period of three years. It is hoped that by consolidating a 100% interest in the Cowtrail property in Cariboo Rose a new option partner can be invited into this highly prospective project.
J.W. (Bill) Morton P.Geo, within the context of the requirements of NI-43-101, is the qualified person who takes full responsibility for this news release.
Bill Morton
J.W. (Bill) Morton, P.Geo.
President
Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611
About Cariboo Rose Resources Limited
In addition to its 100% owned Canadian Creek property in the Yukon Cariboo Rose owns interest in five mineral projects in British Columbia three of which are 100% owned. Cariboo Rose also owns a strategic investment of free trading shares in Western Copper and Gold Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2018 TheNewswire - All rights reserved.
