Vancouver, BC, December 7, 2009 - Cariboo Rose Resources Ltd. (TSX-V: CRB) and Alder Resources Ltd. (TSX-V: ALR) are pleased to report the results of the drilling program on the Canadian Creek Property, located in the Whitehorse Mining District of the Yukon Territory 160 km south of Dawson City. The property is also 50 km southeast of Underworld Resources Inc.’s White Gold project and adjacent to Western Copper Corp.’s Casino Deposit.
Ten core drill holes totaling 1,425m were completed along a series of gold-arsenic+/-antimony-bismuth soil geochemical and IP geophysical anomalies that cover an area of over four km in length. The program was the first drill test of these anomalies and confirmed the presence of auriferous quartz-carbonate veins and clay altered structures hosted in gneisses and granodiorite and monzonite intrusive rocks. All the drill holes returned anomalous gold intercepts with the most significant intercepts listed in the following table, all of which are from the eastern portion of the 2009 geochemical grid.
|Hole ID||From (m)||To (m)||*Interval (m)||Gold (g/t)||Silver (g/t)|
(* these are core lengths and may not reflect true thickness)
Drill holes CC09-5 and 6 tested a small portion of a two km long, open-ended gold soil geochemical anomaly. The gold geochemical anomaly is open for 800 m northeast from drill hole CC09-6. Near the eastern end of the grid a soil sample returned 2.2 g/t gold. Drill holes CC09-08 and 10 tested a separate anomaly to the north that is 600m long and open to the east.
Drill holes CC09-1 to 4, 7 and 9 returned anomalous gold-arsenic values across numerous intervals ranging from 2.0 m to 20 m with values up to 0.2 g/t gold and 0.46% arsenic. The 2009 drill holes were spaced from 300 m to 1.3 km apart. The broad dispersion of anomalous gold across the drilling area and the wide spacing between drill holes indicates that a large area of mineralization has been identified that hosts potential for a significant gold deposit.
Alder can earn a 60% interest in the Property by making a schedule of cash payments totaling $250,000 and issuing 250,000 shares to Cariboo Rose and completing exploration expenditures on the property totaling $2,500,000 by June 18, 2013.
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.
Paul Way, Business Development Manager
Phone (604) 681-7913, Toll Free: 888-656-6611
About Cariboo Rose Resources Ltd.
Cariboo Rose Resources Ltd. 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. The company’s Woodjam North property is under option to the Gold Fields Limited group of companies (NYSE: GFI). 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. Other 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.