Cariboo Rose to Explore for Gold at Canadian Creek Property White Gold District, Yukon


Planning is now in progress for a summer program at the Cariboo Rose Resources Ltd. (TSX-V: CRB) 100% owned Canadian Creek Property in the Yukon Territory 160 km south of Dawson City is also 50 km southeast of the Underworld Resources Inc. (TSX-V: UW) owned White Gold project and approximately 25 km southeast of Kaminak Gold Corp.’s (TSX-V: KAM) Coffee property. Cariboo Rose acquired the core claims at Canadian Creek in 1993 and expanded the property with the acquisition of a number of claims from Pacific Sentinel Gold in 2000. Since 1993 approximately $2,000,000 has been spent developing 15 kilometres of road access, completing 24 diamond drill holes (3,796 metres), conducting extensive magnetometer and induced polarization surveys and collecting and analyzing 1,647 soil samples.

CaribooRoseClaimMap

The total area of the Canadian Creek claims is 4,800 hectares (12,000 acres). There are three exploration target types on the property: (1) bulk tonnage (intrusion related) gold deposit; (2) an untested gold arsenic soil anomaly which has a similar signature and setting to Underworld’s White Gold discovery and; (3) a classical “Arizona style” copper-gold-molybdenum porphyry deposit related to the adjacent Casino deposit owned by Western Copper Corporation (TSX: WRN) (Ana and Koffee targets).

Bulk tonnage style gold mineralization was first identified at Canadian Creek in 1993 when an excavator trench exposed 40 metres of mineralized rock grading 0.57 g/t gold including 10 metres grading 1.69 g/t. A diamond drill hole completed in 1993 intersected 150 metres grading 0.49 g/t gold, including 44 metres grading 0.71 g/t. A large area to the south, east and west of the drilled area remains untested.

An untested open-ended soil gold-arsenic (antimony) anomaly extending over two km by one km occurs northeast of the Koffee porphyry occurrence (now renamed the Coffee Can anomaly) in an area underlain by sediment and volcanic schists. The recent discovery by Underworld Resources of bulk tonnage gold mineralization hosted by quartz sericite and biotite schist at its White Gold Project (Golden Saddle) suggests a similar setting. As is the case at the White Gold Project, the Coffee Can anomaly is associated with a strong soil arsenic response with a number of soil samples exceeding 1,000 ppm arsenic. A float sample of quartz-sulphide veining discovered in 1993, along strike from the geochemical anomaly but off-grid, returned 6.6 g/t gold and 51.0 g/t silver associated with sulphides including arsenopyrite.

A drill hole announced recently at Underworld’s nearby White Gold project graded an impressive 3.39 g/t gold over 104 metres. Mineralization at the White Gold property is described a being tabular and consisting of zones of massive veining, vein breccia and silicified schist. Very little evaluation has yet been undertaken at the Canadian Creek Coffee Can anomaly which has only recently been reinterpreted in light of the White Gold discovery. This area and target type will be the focus of the 2009 program.

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.

Bill Morton

Bill Morton, P.Geo., Director

Be Sociable, Share!

, , , ,

Comments are closed.