Results of the 2016 Target Development Program on the Canadian Creek Property, Yukon
Vancouver, October 5, 2016 - Cariboo Rose Resources Ltd. (TSX-V: CRB) ("Cariboo Rose") has received and compiled results from the 2016 exploration program on its 100% owned Canadian Creek Gold project located in the Yukon Territory. Cariboo Rose's Canadian Creek Project is located 150 km south of Dawson City and borders, on the south side of, Goldcorp Inc.'s (TSX: G, NASDAQ: GG) Coffee Gold property. Goldcorp recently acquired the property by purchasing Kaminak Gold Corp. Adjoining Canadian Creek's eastern claim boundary is the large tonnage Casino copper-gold-molybdenum porphyry deposit owned by Western Copper and Gold Corp. (TSX: WRN).
The Canadian Creek property, approximately 10 km by 6.5 km in size, hosts structurally localized gold-bearing zones in the northern half of the property similar in style to Goldcorp's Coffee deposit and porphyry copper-gold-molybdenum mineralization similar to Western Copper and Gold's Casino deposit on the southern half.
The 2016 program at Canadian Creek was largely trenching and pit sampling on selected targets outlined by previous soil geochemical anomalies. The focus was directed at gold anomalies that expressed anomalous conditions similar to Kanimank's occurrences. A small, helicopter-portable backhoe was used to dig test pits and if bedrock was located a trench was excavated. Less than half of the 41 test pits found bedrock and similarly bedrock occurred in only a portion of the 167 m in five trenches. The exercise proved useful in determining that the soil anomalies are related to gold-arsenic-antimony mineralization associated with quartz veining, structural alteration and, in the Malt targets, breccia filling over a large area. More detailed exploration with larger equipment and possibly reverse-circulation and RAB drilling will be needed to further evaluate this large target area.
Most of the work was completed on the KANA target which is approximately 7 km long. A summary follows:
-Hill 328 area: previous trenching and one drill hole had encountered anomalous gold up to 0.62 g/t. A 64.5m trench only exposed 3.0m of bedrock. Sampling bedrock and nearby float resulted in 16 samples returning anomalous gold values greater than 100 ppb. Six samples returned high silver values running greater than 10,000 ppb (>10 g/t) to a high of 66,908 ppb (66.9 g/t). This area was also anomalous in arsenic, antimony and bismuth. A grab sample from the backfill of an old trench returned 2,360 ppb (0.236 g/t) gold with 8,630 ppb (8.63 g/t) silver.
-450 m west of Hill 328: A 58.7 m trench encountered highly fractured and quartz+/- tourmaline veins. Two samples returned high silver values to a maximum of 5,977 ppb and three samples returned 110 ppb Au to 358 ppb Au.
-900 m west of Hill 328: Trenching in this area in 2011 had returned gold values up to 4,400 ppb. Two trenches were completed in this program. A 9.5 m trench exposed silicified, pyritic biotite-quartz-feldspar gneiss that returned 984 ppb (0.98 g/t) gold across 1.9 m. A second trench, 20 m long, exposed the same gneiss with local patches of silicification and pyrite and the highest gold value in sampling was 124 ppb.
-A float sample taken along the Casino access road west of Hill 328 returned 3,346 ppb (3.35 g/t) gold along with anomalous arsenic, antimony and bismuth.
ANA Target Area:
-Trench CTR16-20 was completed in the Ana Pass area in the central part of the Canadian Creek property. Trench CTR16-20 was located immediately north of the 1996 trench 96-59, from which a result of 1,340ppb Au over six metres was reported. The 2016 trench was 15 metres long and encountered biotite granodiorite along its length. The granodiorite contained common jarosite-white altered fractures between local zones of pervasive alteration which often contained quartz veins and disseminated pyrite. Five trench samples returned gold results greater than 100ppb to a high of 2,608ppb from a 20 centimetre quartz vein. Anomalous arsenic, antimony and bismuth were evident in all samples.
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??-A small programme of infill soil sampling was undertaken in 2016 in the Ana Pass area to decrease the line spacing from 200 to 100 metres, Lines were emplaced over the Ana Pass area and to the south to cover areas of anomalous gold and arsenic from historical surveys. The Ana Pass area hosts a large and strong gold in soil anomaly, extending 1300 metres in a northwesterly direction and is 700 metres wide. Values within this zone range as high as 1,939ppb.
Malt Targets:
-Prospecting and rock sampling were conducted on a number of targets across the Canadian Creek property. Most notable of these targets was the Malt East and Malt West Zones in the northwest corner of the property.
Malt East is defined by a 1200 metre long north-northwest trending zone of anomalous gold-arsenic-antimony in soils. This linear aligns with a strong structure defined by the 2011 ground magnetometer survey. Limited prospecting in 2016 discovered no outcrop but rock float sampling returned strongly anomalous silver, antimony and arsenic.
-Malt West is another northwest trending zone defined by anomalous gold, arsenic, antimony, molybdenum, barium and copper. Prospecting here encountered only minor outcrop but did discover float of brecciated and silicified rocks over a large area. Samples of these ran anomalous silver, bismuth antimony, molybdenum and up to greater than 1% arsenic. Both of the Malt Zones exhibit similar geochemical and linear expressions as do the mineralized zones at the nearby Coffee and Sunset properties.
Koffee Target"
-Rock float samples returning 736 ppb and 259ppb gold were discovered to the southeast of the Koffee Bowl porphyry zone as follow up to a linear gold in soil anomaly which coincides with a major north-northwest trending structure identified in the ground magnetometer survey. There is a complete lack of outcrop here, so trenching would be a required follow up.
Bob Johnston, P.Geo., who managed the Canadian Creek field program and oversaw all the work in this program, and G. Garratt, P.Geo., are qualified persons within the context of National Instrument 43-101, and have read and take responsibility for this news release.
Glen Garratt, P.Geo, Director.
Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611
About Cariboo Rose Resources Limited
Cariboo Rose Resources is a well-funded prospect generating mineral exploration company with six precious and base metal exploration projects in BC and the Yukon. Cariboo Rose trades on the TSX Venture exchange under the symbol "CRB". For more information please visit the Company's website at www.cariboorose.com.
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.
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