Cariboo Rose Announces Pat Drill Results, B.C.
The second hole of the program, 09-P-06, intersected the bedrock interface at a depth of 146 metres and encountered a sequence of volcanic tuff/siltstone, sandstone and volcanic agglomerate believed to be part of the Eocene-age Kamloops Group which extends to the end of the hole at 316 metres. Several intervals of black carbonaceous material were encountered in the drill core and were initially suspected to be coal. The core was subsequently examined by Moose Mountain Technical Services; an east Kootenay based geological consulting and engineering group with expertise in coal geology. Moose Mountain concluded that while narrow intervals within the broader carbonaceous intervals can be described as "coaly" the carbonaceous material does not have a rank to classify as coal. Further research completed by Astorius and Cariboo Rose discovered two references to previous coal discoveries in the Pat project area. One discovery is referenced in the 1904 Report to the Minister of Mines and the other in a 2006 assessment report filed with the BC government describing a drill intercept of coal, nine kilometres to the west of the Pat property. Astorius and Cariboo Rose subsequently applied for nine coal permits (5,425 hectares) of which acknowledgement of receipt by the government (for the referral process) for eight of these has now been received. Minor pyritic intervals encountered in hole 09-P-06 will be sampled in the near term and analyzed for precious metal.
The third hole of the program, 09-P-07 which was located a further 1,600 metres to the west, passed through 197 metres of overburden before intersecting the bedrock interface. Bedrock in hole 09-P-07 is a grey brown tuffaceous unit with minor pyrite and is quite distinct from bedrock encountered in hole 09-P-06 and may represent the Triassic-Jurassic rocks typical of the Quesnel Terrane. The hole was bottomed at 258 metres after becoming stuck. The core from this hole was sampled but did not return any significant results.
The Pat project is located approximately fifteen kilometres southeast of the Village of Horsefly in the Cariboo region of BC. 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 in exploration, and paying $150,000 in cash and issuing 200,000 shares to Cariboo Rose, before July 9, 2011.
Bill Morton, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
J.W. (Bill) Morton, P.Geo.
President and CEO
Cariboo Rose Resources Ltd.
Contact:
Paul Way, Business Development Manager
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: pway@eastfieldgroup.com
About Cariboo Rose Resources Limited
Cariboo Rose has six gold, copper and molybdenum exploration projects in Western Canada. Cariboo Rose is part of the Eastfield Group. Since its inception in 1987, the Eastfield Group has utilized a successful business strategy that leverages exposure by securing third party exploration financing on the majority of its projects, several of which have become new listings in their own right or have become part of other listed companies. Cariboo Rose itself was spun out from Wildrose Resources Ltd. after a 30% interest in the Spanish Mountain project was merged with Spanish Mountain Gold (TSX-V: SPA). Affiliated companies in the group include Eastfield Resources Ltd. (TSX-V: ETF) and Lorraine Copper Corp. (TSX-V: LLC). For more information please visit the Company's website at www.cariboorose.com.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX - Venture Exchange, the British Columbia Securities Commission and the US
Gold Fields Doubles Drilling Plans at Woodjam North, B.C.
Gold Fields now plans to drill several additional holes tracing the northeasterly mineralized trend in the Takom Zone, as previously described. The drill will then move onto the Deerhorn Zone and Spellbound Area, as reported earlier.
Tom Schroeter, President of Fjordland commented, ''The WJV is pleased with Gold Fields' recent decision to significantly expand the winter drilling program. We look forward to receiving results of the drilling program over the next several months and reporting on them in a timely manner.
G. L. Garratt, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
Glen Garratt, P.Geo.
VP Exploration, Director
Cariboo Rose Resources Ltd.
Contact:
Paul Way, Business Development Manager
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: pway@eastfieldgroup.com
About Gold Fields Limited
Gold Fields is one of the world's largest unhedged producers of gold with attributable production of 3.6 million ounces* per annum from nine operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfields and near mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 81 million ounces and Mineral Resources of 271 million ounces. *Based on the annualized run rate for the first quarter of F2010.
About Cariboo Rose Resources Limited
Cariboo Rose Resources is a Canadian public mineral exploration company that explores for gold, copper and molybdenum deposits in British Columbia and the Yukon. Cariboo Rose Resources (40%) and Fjordland Exploration Inc. (60%) comprise the Woodjam Joint Venture which owns the Woodjam North property as well as the adjoining Woodjam South property. Cariboo Rose also has four 100% owned projects: A gold-copper property in the Tintina Gold Belt of the Yukon, two gold-copper properties adjacent to Woodjam North and a copper-silver-zinc property in central BC. Cariboo Rose Resources trades on the TSX - Venture exchange under the symbol CRB. For more information please visit the Company's website at www.cariboorose.com.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Gold Fields Resumes Drilling at Woodjam North, B.C.
Gold Fields plans to complete 3,000 to 4,000 m of drilling in approximately 12 holes. At Takom, four holes (~ 1,200 m) are planned to follow up on significant drill intersections obtained over a northeasterly mineralized trend measuring over 500 m in strike. Within this trend hole TK09-001 returned 329.6 m grading 0.24% Cu and 0.27 g/t Au, including 101 m grading 0.43% Cu and 0.58 g/t Au.
At Deerhorn, four holes (~ 1,200 m) are planned to follow up significant drill intersections from four of five holes completed to date on this zone discovered in 2008. Hole WJ08-93 returned 69 m grading 0.22% Cu and 0.5 g/t Au, and DH09-003 returned 173 m grading 0.12% Cu and 0.50 g/t Au, including 89.5 m grading 0.26% Cu and 1.17 g/t Au. The remainder of the proposed drilling (four holes) is planned to test geochemical and magnetic anomalies east of the Megabuck and north of the Southeast zones, respectively -- an area referred to as Spellbound.
Preliminary results from a 9,114 line-km low-level, high resolution airborne magnetic survey, an 85 line-km induced polarization survey and a 4,250-sample soil survey have resulted in the identification of several additional targets for future drill testing, including the Corner Lake area, north of the Megabuck and Deerhorn zones.
Tom Schroeter, President of Fjordland commented, "The Phase One program recently completed by Gold Fields has provided additional significant drill assays from the Takom and Deerhorn zones, as well as identifying several new target areas ready for drill testing. We are very pleased to see the resumption of a winter drilling program, demonstrating Gold Fields commitment to the project, as well as the ability to work year-round in this easily-accessible region of BC."
Gold Fields has an option to earn up to a 70% interest in the Woodjam North Property by spending $19 million in exploration by July 2016 (see July 30, 2009 News Release for details).
G. L. Garratt, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
Glen Garratt, P.Geo.
VP Exploration, Director
Cariboo Rose Resources Ltd.
Contact:
Paul Way, Business Development Manager
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: pway@eastfieldgroup.com
About Gold Fields Limited
Gold Fields is one of the world's largest unhedged producers of gold with attributable production of 3.6 million ounces* per annum from nine operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfields and near mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 81 million ounces and Mineral Resources of 271 million ounces.
*Based on the annualized run rate for the first quarter of F2010.
About Cariboo Rose Resources Limited
Cariboo Rose Resources is a Canadian public mineral exploration company that follows the prospect generator model to explore for gold, copper and molybdenum deposits in British Columbia and the Yukon. Cariboo Rose Resources (40%) and Fjordland Exploration Inc. (60%) comprise the Woodjam Joint Venture which owns the Woodjam North property as well as the adjoining 13,807 hectare Woodjam South property. Cariboo Rose also has four 100% owned projects: a gold-copper property in the Tintina Gold Belt of the Yukon, two gold-copper properties adjacent to Woodjam North and a copper-silver-zinc property in central BC. Cariboo Rose Resources trades on the TSX - Venture exchange under the symbol CRB. For more information please visit the Company's website at www.cariboorose.com.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX - Venture Exchange, the British Columbia Securities Commission and the US
Gold Fields Exercises Right of First Refusal on Woodjam South, BC
Pursuant to the offer, Gold Fields can earn a 51% interest in the Woodjam South Property in consideration for expending US$7 million on exploration over 42 months and the purchase of a total of C$500,000 of common shares of the WJV partners, which will divided relative to their interests. The offer includes the right to increase the earned interest to 70% by financing a bankable feasibility study. The transaction is subject to due diligence and the execution of a definitive agreement. A draft agreement is expected shortly; its terms will be released upon signing.
Gold Fields right of first refusal is contained in the existing Option and Joint Venture Exploration Agreement relating to the adjoining Woodjam North Property. The WJV recently released drill results which is part of a comprehensive exploration program budgeted at $3 million and operated by Gold Fields on this 40,750-hectare property (see January 12, 2010 News Release for details). Drilling is scheduled to resume in early February.
The 13,807-hectare Woodjam South Property includes the Southeast Zone, discovered in late 2007 by the WJV partners. Drilling of 7,700 m in 18 holes during 2007 and 2008 of a large, 1.5 km by 1 km, induced polarization (IP) target tested a length of 1,000 m, a width of 500 m and to a depth of 700 m. Fifteen of these holes were drilled on a grid pattern 600 m by 300 m. Porphyry-style copper-gold-molybdenum mineralization was intersected from the bedrock surface to the end of the hole in all 18 holes. The best intercepts (hole 08-84) included: 359.1 m grading 0.69% Cu, 0.27 g/t Au and 0.006% Mo, including 200.8 m grading 1.01% Cu, 0.44 g/t Au and 0.002% Mo. Less than one quarter of the IP anomaly has been tested. During 2009, no drilling was carried out at Woodjam South. A high resolution, low level airborne magnetometer survey was completed over the property and several prospective new anomalies were identified.
Tom Schroeter, President of Fjordland commented, "The earn-in proposal for the WJV's Woodjam South Property by a major international mining company and the subsequent notice to exercise its right of first refusal by Gold Fields represents another important step in the WJV's objective of advancing the entire Woodjam property without significant equity dilution."
G.L. Garratt, P. Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
Glen Garratt, P.Geo.
VP Exploration, Director
Cariboo Rose Resources Ltd.
Contact:
Paul Way, Business Development Manager
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: pway@eastfieldgroup.com
About Cariboo Rose Resources Limited
Cariboo Rose Resources Limited is a Canadian public resource company that trades on the TSX - Venture exchange under the symbol CRB. Cariboo Rose has six gold, copper and molybdenum exploration projects in Western Canada. Cariboo Rose Resources Ltd. (40%) and Fjordland Exploration Inc. (60%) comprise the Woodjam Joint Venture. Gold Fields Horsefly Exploration Corporation, a member of the Gold Fields Limited group of companies, may earn up to a 70% interest in the 40,750-hectare Woodjam North gold-copper property by spending $19 million on exploration over 7 years. The Woodjam Joint Venture also owns the 13,807 hectare Woodjam South property which adjoins the Woodjam North property. For more information please visit the Company's website at www.cariboorose.com.
About Gold Fields Limited
Gold Fields is one of the world's largest unhedged producers of gold with attributable production of 3.6 million ounces* per annum from nine operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfields and near mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 81 million ounces and Mineral Resources of 271 million ounces. *Based on the annualized run rate for the first quarter of F2010.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX - Venture Exchange, the British Columbia Securities Commission and the US
Gold Fields Expands Discoveries at Woodjam North, B.C.
Takom Zone: 101.0 m of, 0.58 g/t gold, 0.43% copper
Vancouver, BC, January 12, 2010 -- Cariboo Rose Resources Ltd. (TSX-V: CRB) and Fjordland Exploration Inc. (TSX-V: FEX), the Woodjam Joint Venture ("WJV") 40%/60% partners, are pleased to report that Gold Fields Horsefly Exploration Corporation (a member of the Gold Fields Limited group of companies (NYSE: GFI)) has forwarded the results of drilling completed between October and mid-December, 2009 on the Woodjam North gold-copper property, located 45 kilometres east of Williams Lake in central British Columbia. The drill program will continue in early February, 2010.
Gold Fields tested two areas, completing 11 core holes for 3,589.6 m in the Takom Zone and 3 core holes for 993.6 m in the Deerhorn Zone for a total of 4,583.3 m. Both these areas tested and stepped out from mineralization previously outlined by the WJV on the Woodjam North property and lie several kilometers south and east respectively, from the previously drilled Megabuck Zone. The Southeast Zone discovery lies on the Woodjam South property several kilometers east of the Takom Zone and is not included in the Gold Fields option. Previously reported drill holes completed in 2008 by the WJV in these areas includes: hole WJ08-87 in the Takom Zone which returned 0.60 g/t Au and 0.34 % Cu over 71.8 m and hole WJ08-93 in the Deerhorn Zone which returned 0.50 g/t Au and 0.22 % Cu over 69.0 m.
Highlights of the assay results received include the following intervals over core lengths: 0.58 g/t Au and 0.43% Cu over 101.0 m (from 114.0 m in hole TK09-001 at Takom); and 1.16 g/t Au and 0.26% Cu over 89.50 m (from 165.0 m in hole DH09-003 at Deerhorn).
Most of the drill holes intersected copper-gold mineralization indicating that further drilling will be required to define the mineralized zones. Drill hole locations may be viewed on the website: www.cariboorose.com. A summary of significant drill intercepts follows:
Deerhorn Zone:
| Hole ID* | From (m)* |
To (m)* |
Int. (m)* |
Cu% |
Au g/t |
Au Eq g/t * |
DH09-001 |
88.84 |
358.14 (eoh) |
269.30 |
0.13 |
0.02 |
0.25 |
including |
88.84 |
162.00 |
73.16 |
0.24 |
0.04 |
0.47 |
DH09-002 |
NSR |
|||||
DH09-003 |
40.73 |
254.50 (eoh) |
213.80 |
0.12 |
0.50 |
0.72 |
including |
165.00 |
254.00 |
89.50 |
0.26 |
1.16 |
1.63 |
Takom Zone:
| Hole ID* | From (m)* |
To (m)* |
Int. (m)* |
Cu% |
Au g/t |
Au Eq g/t * |
TK09-001 |
6.20 |
341.99(eoh) |
335.79 |
0.24 |
0.27 |
0.70 |
including |
6.20 |
215.00 |
208.80 |
0.35 |
0.40 |
1.03 |
including |
114.00 |
215.00 |
101.00 |
0.43 |
0.58 |
1.35 |
TK09-002 |
NSR |
|||||
TK09-003 |
8.70 |
254.51(eoh) |
245.81 |
0.11 |
0.05 |
0.25 |
including |
8.70 |
96.00 |
87.30 |
0.16 |
0.07 |
0.36 |
including |
146.00 |
180.00 |
36.00 |
0.15 |
0.08 |
0.35 |
TK09-004 |
13.72 |
30.00 |
16.28 |
0.16 |
0.19 |
0.48 |
TK09-005 |
108.00 |
179.00 |
71.00 |
0.14 |
0.03 |
0.28 |
TK09-006 |
331.00 |
359.00 |
29.88 |
0.14 |
0.02 |
0.27 |
TK09-007 |
NSR |
|||||
TK09-008 |
33.53 |
124.00 |
90.47 |
0.22 |
0.11 |
0.51 |
TK09-009 |
NSR |
|||||
TK09-010 |
184.00 |
263.00 |
79.80 |
0.20 |
0.13 |
0.49 |
TK09-011 |
NSR |
|||||
*(intervals are core lengths; DH = Deerhorn Zone; TK = Takom Zone; NSR = no significant results; eoh = end of hole; Au Equivalent (Au Eq) was calculated using US$950/oz gold, US$2.50/lb copper. The calculation to derive Au Eq = ((%Cu x 22 x price Cu/lb) / (price Au/oz x 0.03215)) + Au g/t)
Cariboo Rose and Fjordland management are excited about the new drilling results that continue to show the substantial discovery and grade potential of the Woodjam North property.
Gold Fields has an option to earn up to a 70% interest in the property by spending $19 million in exploration over the next 7 years (see July 30, 2009 News Release for details). Gold Fields budgeted approximately $3 million for the first-year work program including drill testing, IP geophysical surveying, soil geochemistry and high resolution airborne geophysical surveying on the 40,750-hectare property. This program will resume in February and will comprise further drill testing of the Takom and Deerhorn Zones as well as other target areas.
G.L. Garratt, P. Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release. Gold Fields, as operator of the exploration program has quality assurance-quality control procedures in place.
Glen Garratt, P.Geo.
VP Exploration, Director
Cariboo Rose Resources Ltd.
Contact:
Paul Way, Business Development Manager
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: pway@eastfieldgroup.com
About Gold Fields Limited
Gold Fields is one of the world's largest unhedged producers of gold with attributable production of 3.6 million ounces* per annum from nine operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfields and near mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 81 million ounces and Mineral Resources of 271 million ounces. *Based on the annualized run rate for the first quarter of F2010.
About Cariboo Rose Resources Limited
Cariboo Rose Resources Limited is a Canadian public resource company that trades on the TSX - Venture exchange under the symbol CRB. Cariboo Rose has six gold, copper and molybdenum exploration projects in Western Canada. Cariboo Rose Resources Ltd. (40%) and Fjordland Exploration Inc. (60%) comprise the Woodjam Joint Venture. Gold Fields Horsefly Exploration Corporation, a member of the Gold Fields Limited group of companies, may earn up to a 70% interest in the 40,750-hectare Woodjam North gold-copper property by spending $19 million on exploration over 7 years; a $3 million exploration program is currently in progress. The Woodjam Joint Venture also owns the 13,807 hectare Woodjam South property which adjoins the Woodjam North property. For more information please visit the Company's website at www.cariboorose.com.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX - Venture Exchange, the British Columbia Securities Commission and the US.