Cariboo Rose Resources Ltd. [CRB-TSXV] has completed the initial 1,463-metre drill program at its 100%-owned Lightning Strike project located in the Cariboo region of south-central British Columbia, approximately 60 km northeast of the community of 100 Mile House. Eleven holes were drilled, and samples are being shipped to the lab and results will be published as soon as they are received.
Lightning Strike is a shale-hosted gold project located approximately 35 km south of the Fraser gold project currently being explored by Karus Gold Corp., formerly part of Kore Mining Ltd., and 95 km southeast of the Spanish Mountain project currently being explored by Spanish Mountain Gold Ltd. Lightning Strike, Fraser gold and Spanish Mountain share a common geological setting in a Triassic-aged shale-siltstone sequence where gold mineralization is attributed to the orogenic model.
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 plus or minus 80 million ounces and plus or minus 20 million ounces gold each.
Cariboo Rose owns seven mineral projects in British Columbia, including Carruthers Pass, 100%-owned subject to an option with Vizsla Copper Corp. (a spinout from Vizsla Silver) which may earn a 60% interest by making payments of $650,000 and completing $3-million in exploration.
Most significant to the project is a mineralized slab of rock weighing several hundred tonnes protruding from talus with a drill intercept through it of 3.1 metres grading 6.2 per cent copper, 5.8%, 2.37 g/t gold and 192 g/t silver, with numerous untested geochemical and geophysical targets.
Cariboo Rose also has a 100% interest in the Coquigold epithermal gold (quartz-adularia) property 10 km north of Shovelnose Mountain (Westhaven Gold Corp. Shovelnose discovery). Bedrock sampling in 2019 by Cariboo Rose confirmed an epithermal mineralizing event with bedrock samples returning up to 43.1 g/t silver, 559 parts per million arsenic, 13,400 parts per billion mercury and 101 ppm antimony. Trenching is planned for 2021.
The 100%-owned Cowtrail property is located in south-central B.C. contiguous with the Woodjam copper-gold porphyry project owned by Consolidated Woodjam Copper. Reconnaissance drill testing of extensive induced polarization anomalies (vintage 1997, 2004 and 2006) defined a vector of mineralization trending to the west beyond the area drilled. Significant drill intercepts include 1.16 g/t gold over 18.3 metres, and 0.17% copper and 0.11 g/t gold over 40 metres. 900 soil samples collected earlier in 2021 have now been received. Cowtrail is fully permitted.
Cariboo Rose also owns the CHG property near Clinton, subject to an option with Black Shield Metals Corp. [BDX-CSE], which may earn a 60% interest by paying $300,000 and completing $1.5-million in exploration by November, 2025, and thereafter an additional 10% interest by completing a bankable feasibility study within 24 months. CHG is located in Southern B.C. near the community of Clinton.
Koster Dam, 55%-owned (Ameriwest Lithium Inc. [AWLI-CSE], 45%), located in southern B.C. 10 km north of the former producing Blackdome gold mine and Pat, 100%-owned, staked by Cariboo Rose in 2004, contiguous with the Woodjam copper-gold porphyry project owned by Consolidated Woodjam Copper, with a strong unexplained magnetic airborne anomaly in prospective Nicola Group volcanic rocks.