Lightning Strike Project Acquired (Revised News Release)
Vancouver, BC, February 27, 2019, Cariboo Rose Resources Ltd. ("Cariboo") (TSX-V: CRB) has staked the Lightning Strike claim block in the southcentral interior of BC approximately 60 kilometers northeast of the community of 100 Mile House to cover a compelling gold anomaly.
Gold mineralization in the area of staking was first reported by Homestake Development Corporation in 1984 with the discovery of a significant soil gold anomaly underlain by Triassic aged shale and siltstone from which quartz carbonate boulders grading up to 25.10 g/t gold and 216.8 g/t silver were sampled. Homestake subsequently concluded (incorrectly) that the anomalous soils and boulders were occurring in transported glacial till. In 1984 the Homestake grid abutted the western boundary of Wells Gray Park preventing exploration to the east. In the late 1980's the area of the western region of Wells Gray Park was reduced and the new boundary is approximately fourteen kilometers further to the east allowing Cariboo Rose the opportunity of continuing exploration on the unconstrained eastern side.
In 2006 Skygold Ventures Ltd. (later Spanish Mountain Gold Corp.) staked this area and completed mechanical trenching and drilling in 2008 and 2010. Despite a number of successful drill intersections the claims were subsequently allowed to expire.
Six drill holes completed in this period are located on the Lightning Strike claims recently staked by Cariboo Rose. Significant intercepts include 4.54 g/t gold over 3.8 meters, 1.03 g/t gold over 26.0 meters, 0.77 g/t gold over 20.0 meters and 19.30 g/t gold over 1.5 meters.
Shale hosted orogenic gold deposits also called sediment hosted vein deposits are one of the most attractive models for large gold deposits in the world and include the giant Murantau and Sukoy Log deposits in Russia with resources of ?80 million ounces and ?20 million ounces gold each. Similar styles of gold mineralization locally include the Fraser Gold Project located 35 kilometers to the north and the Spanish Mountain Gold Project located 95 kilometers to the northwest still being actively explored (Spanish Mountain Gold Corp., owner of the Spanish Mountain Gold Project, has identified a multimillion ounce gold resource at the Spanish Mountain Gold 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; email: info@eastfieldgroup.com
About Cariboo Rose Resources Limited
In addition to its 100% owned Canadian Creek property located in the Yukon Territory Cariboo Rose owns five mineral projects in British Columbia.
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) 2019 TheNewswire - All rights reserved.
