Vancouver, BC, June 16, 2011 - Cariboo Rose Resources Ltd. (TSX-V: CRB) and Fjordland Exploration Inc. (TSX-V: FEX), 40%-60% partners in the Woodjam Joint Venture (“WJV”), report that Gold Fields Limited’s (NYSE: GFI) exploration company, Gold Fields Horsefly Exploration Corporation (“Gold Fields”), has forwarded drill results from three new holes (1,214.6 m) of the 2011 infill and expansion diamond drilling program on the Southeast Zone of the Woodjam South copper-gold-molybdenum property. The Property is located 45 km east of Williams Lake in south-central British Columbia.
At Woodjam South, a 15,000-metre (m) drilling program (5,000 m infill, 6,000 m expansion drilling, and 4,000 m unallocated) commenced on March 16th in the core area measuring 800 m by 630 m to a depth of more than 400 m. A number of the drill sites are planned to allow calculation of an inferred pit-constrained NI 43-101 compliant resource by the end of 2011. This work program is part of Gold Fields’ $5 million budget announced on March 2, 2011. This initial drilling program, utilizing two rigs, concentrated on the southern and southeastern areas of the core area of mineralization, primarily dictated by access logistics during the spring months. Drilling will next test the northern and northwestern areas of the core area of mineralization. To date, nineteen holes totaling more than 8,000 m have been completed; further results will be reported in batches when received. A drill location map may be viewed at www.cariboorose.com/i/pdf/2011-01-WJS.pdf.
Southeast Zone Drilling:
|Hole ID||From (m)||To (m)||Int. (m)||Cu%||Au g/t||Mo%||Cu Eq %|
Notes: Intervals are core lengths; Cu Equivalent in % calculated using US$2.50/lb Cu, US$950/oz Au and US$15/lb Mo and the formula: ((%Cu x 22 x Price Cu/lb) + (g/t Au x 0.03215 x Price Au/oz) + (%Mo x 22 x Price Mo/lb))/ (Price Cu/lb x 22). * = end of hole. Metallurgical recoveries and net smelter returns are not considered.
Hole SE11-22 was collared between holes SE10-01, WJ08-89 and WJ08-85, along the interpreted southern portion of the higher-grade core area, and encountered copper-molybdenum mineralization from the top of the bedrock to the end of the hole at 474.3 m. The final 2.3-m sample interval assayed 0.24% Cu and 0.02 g/t Au (0.26% Cu Eq).
Hole SE11-24 was collared between holes WJ07-73 and WJ08-86 and approximately 200 m east of SE10-01 and 200 m west of SE10-08, along the interpreted southeastern portion of the higher-grade core area, and encountered copper-molybdenum mineralization from the top of the bedrock to the end of the hole at 461.2 m. A 50.5-m unmineralized porphyry dyke intrudes the mineralized rocks between 338.0 m and 388.4 m.
Hole SE11-26 was collared between holes WJ08-86 and WJ08-95, along the interpreted southeastern portion of the higher-grade core area, and encountered copper-molybdenum mineralization from the top of the bedrock to the end of the hole at 404.2 m. The final 78.2 m of the hole assayed 0.019% Mo.
Assay results for holes SE11-23 and SE11-25 have not yet been approved under the project’s strict quality control/quality assurance procedures.
All 42 drill holes reported on the Southeast Zone to date are mineralized from the overburden/bedrock interface to the bottoms of the holes, with the exception of one reconnaissance hole (SE10-20), drilled approximately 800 m north of the northern-most mineralized hole (SE10-07). The current drilling program is testing mineralization to depths of about 400 m; however, the deepest hole to date (WJ08-82) is just over 700 m and ended in mineralization.
Core samples were analyzed by ALS Laboratory Group, a certified facility in North Vancouver, BC. Glen 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.
About Cariboo Rose Resources Limited
Cariboo Rose Resources Ltd. is a mineral exploration company with six gold, copper and molybdenum exploration projects in British Columbia and the Yukon. The Woodjam North and Woodjam South properties (totaling 56,150 ha) are part of the Woodjam Joint Venture between Cariboo Rose (40%) and Fjordland Exploration Inc. (60%); both properties are now under option to Gold Fields Horsefly Exploration Corporation. Additionally, Cariboo Rose has two other gold-copper exploration projects adjoining the Woodjam Properties, a gold exploration project in the White Gold District of the Yukon, and a copper exploration project south of BC’s Kemess mine. 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.
About Gold Fields Limited
Gold Fields is one of the world’s largest unhedged producers of gold with attributable, annualized production of 3.6 million ounces per annum from eight operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfield and near mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 77 million ounces and Mineral Resources of 225 million ounces. For more information visit the company’s website at www.goldfields.co.za.
Glen Garratt, P.Geo, Director.
Cariboo Rose Resources Ltd.
Paul Way, Business Development Manager
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: firstname.lastname@example.org
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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