Posts Tagged Cariboo Rose Resources

KAMINAK INTERSECTS MULTIPLE HIGH-GRADE GOLD ZONES IN DEEP DRILLING AT LATTE AND NEW GOLD ZONE DISCOVERED AT CONNECTOR

Kaminak Gold Corp. has provided diamond drill results from the Latte (eight holes) and Connector (four holes) zones, located on the company’s 150,000-acre Coffee gold property, Yukon Territory. The deepest hole ever drilled on the property successfully intersected high-grade gold zones to a depth of 450 metres vertical at the Latte zone. Additional drilling at the Connector zone has extended known mineralization 100 m toward the Supremo zone, supporting the concept that Latte and Supremo are related. A new gold zone at Connector has also been discovered occurring parallel to the original Connector mineralization.

Latte Deep results

CFD-164

  • 5.5 grams per tonne gold Au over 14 m (from 353 m);
  • 1.3 g/t Au over 10 m (from 375 m);
  • 5.5 g/t Au over 11 m (from 433 m);
  • 20.5 g/t Au over three m (from 454 m);
  • 2.8 g/t Au over 13 m (from 464 m).

Connector results

CFD-149

  • 1.8 g/t Au over seven m (from 70 m);
  • 1.5 g/t Au over 17 m (from 139 m);
  • 10.1 g/t Au over two m (from 166 m).

CFD-152

  • 11.1 g/t Au over four m (from 103 m);
  • 1.9 g/t Au over eight m (from 153 m).

Summary

  • Deepest hole ever drilled on the Coffee property successfully intersects multiple high-grade zones including 5.5 grams per tonne gold (g/t Au) over 14 m (from 353 m core length); 5.5 g/t Au over 11 m (from 433 m); 20.5 g/t Au over three m (from 454 m) and 2.8 g/t Au over 13 m (from 464 m).
  • Drilling extends Connector zone 100 m along trend toward Supremo gold zones. A new gold zone at Connector has also been discovered occurring parallel to the original Connector mineralization, results include CFD-149: 1.5 g/t Au over 17 m (from 139 m), 10.1 g/t Au over two m (from 166 m) and CFD-152: 11.1 g/t Au over four m (from 103 m) and 1.9 g/t Au over eight m (from 153 m).
  • Latte structure extended an additional 200 m east along strike toward Double Double zone and now extends at least 1,550 m long and is open in every direction and at depth. Assays for three additional deep holes at Latte are pending.
  • Latte is one of several closely spaced gold prospects, which also includes the Supremo zone (900 m north) and the Double Double zone (950 m east). Geological similarities on all scales suggest these zones are related to the same mineralizing event and, as a result, are potentially connected along trend and at depth.

Drill results

Two thousand eleven drilling programs were conducted with the objective of extending mineralization along strike and to depth and proving continuity of mineralized structures. In previous news releases, the company announced the extension of the Latte zone over 1,350 m strike length and to 275 metres depth below surface (Sept. 14, 2011) and the discovery of the Connector zone (Nov. 16, 2010) which returned an initial intercept of 5.5 g/t over 11 m on a north-south trend along strike of the Supremo zone.

The drilling covered within this news release extends the east-west-trending Latte mineralized structure to at least 1,550 m along strike and 450 m vertical below surface, and highlights the potential for further extensions to the west and eastward toward the Double Double zone (950 m east). A deep step-back hole at Latte West, CFD-164, drilled to 542.5 m down hole depth, intersected a total of over 250 gram-metres (total grade by width) down hole to a maximum vertical depth below surface of 450 m indicating that the Latte mineralized system persists strongly to depth. Three additional holes to test the depth potential beneath Latte West were drilled along strike of CFD-164 with results currently pending.

In addition, the initial Connector discovery is extended 100 m northward (from CFD-69: 5.5 g/t over 11 m from 133 m depth) thereby confirming the north-south orientation and further highlighting the potential to link this zone with Supremo 900 m to the north along strike. Significantly, a new parallel trending mineralized zone was intersected in drill holes CFD-149 (1.5 g/t over 17 m and 10.1 g/t over two m) and CFD-152 (11.1 g/t over four m), which suggests the potential for the Connector system to host multiple stacked lenses of mineralization akin to the Supremo zones T1 to T7.

Gold mineralization in all zones at Coffee is hosted within brittle fractures and brecciated gneisses and schists accompanied by silica flooding and pyrite/limonite alteration. High-grade intervals are associated with polyphase breccia, microbreccia, quartz vein breccia, coarse sericite and high sulphide content. Geological similarities between all zones and at all scales suggest these zones are related to the same mineralizing event and, as a result, are potentially connected along trend and at depth.

Latte/Connector is one of several closely spaced gold prospects, which also includes the Supremo zone (900 m north) and the Double Double zone (950 m east). The 2011 drilling has extended mineralization at Latte West 400 m beyond the western limit of the gold-in-soil anomaly, and interpretation of geophysical data supported by gold-in-soil anomalies has reinforced the potential for linkages between the known gold zones. All zones are interpreted to come to surface and remain open along strike and at depth. Drilling in 2012 will continue to test for strike and depth extensions and across strike for multiple stacked lenses of mineralization.

All maps, sections and assay sheets are currently available on the Kaminak website.

                               ASSAY TABLE
                                                                    Weighted
                           From             To          Width          grade
Drill hole No.               (m)            (m)         (m)(i)       (g/t Au)

Latte West
CFD-164                     320            324              4           1.16
and                         344            348              4           1.54
and                         353            367             14           5.47
and                         375            385             10           1.31
and                         433            444             11           5.49
and                         454            457              3          20.52
and                         464            477             13           2.81
CFD-133                     169            170              1           0.63
CFD-138                      14             15              1           0.61
CFD-145                     239            248              9           2.38
and                         307            311              4           1.05
Latte East
CFD-135                      79             82              3           1.50
and                         126            131              5           3.23
CFD-136                     273            274              1           7.46
CFD-139                     217            219              2           2.51
CFD-142                      92             93              1           1.62
Connector
CFD-144                     130            135              5           3.52
and                         199            202              3           1.58
and                         207            211              4           3.99
CFD-146                      62             65              3           1.03
and                          99            105              6           1.00
and                         158            160              2           1.22
and                         302            305              3           0.98
CFD-149                      70             77              7           1.84
and                         127            133              6           2.10
and                         139            156             17           1.51
and                         166            168              2          10.12
and                         195            196              1           9.39
and                         311            313              2           1.26
and                         324            325              1           2.90
and                         362            370              8           1.99
CFD-152                      88             92              4           1.91
and                         103            107              4          11.09
and                         153            161              8           1.90
and                         173            175              2           6.50
and                         230            234              4           0.86

(i) True width estimated at approximately two-thirds core length.

Quality assurance/quality control

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, PhD, PGeo, Kaminak’s president and chief executive officer, who serves as a qualified person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly to the ALS Minerals preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

, , , , ,

No Comments

CASTILLIAN and CARIBOO ROSE OUTLINE EXTENSIVE NEW GOLD-IN-SOIL ANOMALY TREND AT CANADIAN CREEK PROPERTY, YUKON

Castillian Resources Corp. has released the results of its 2011 exploration program at its Canadian Creek property. The property consists of 320 claims covering approximately 6,180 hectares located 160 kilometres south of Dawson, approximately 50 kilometres southeast of Kinross Gold Corp.’s White Gold discovery and 25 kilometres southeast of Kaminak Gold Corp.’s Coffee gold discovery. Work completed in 2011 included soil geochemistry grid sampling, detailed ground magnetic surveys, induced polarization surveys, trenching and geological mapping. Assay results are pending for the trench samples.

Dr. Bill Pearson, PGeo, president and chief executive officer of Castillian, commented: “The exploration results for the Canadian Creek property are very promising. The fact that the extensive gold-in-soil anomaly is associated with a major structural zone with significant historical drill intersects suggests the potential for a very large gold-mineralized system on the property. In spring 2012, we plan to follow up with diamond drilling and additional trenching and induced polarization surveys.”

A total of 5,660 soil geochemical samples, including quality assurance/quality control duplicates, were collected in 2011 at 50-metre intervals on lines spaced 200 metres, with infill sampling on 100-metre lines over areas with prospective gold-in-soil anomalies. In addition, infill sampling was completed in some of the areas with historic soil sampling, particularly in the northeast part of the property, to better define existing anomalies. Soil results (greater than 40 parts per billion gold) define an extensive gold-in-soil anomaly with a strike length of 7.5 kilometres and a width of two kilometres. This new gold-in-soil anomaly, which is 3.5 kilometres in strike length, extends a historic gold-in-soil anomaly on the property, previously named the Casino B trend, to form one large gold-in-soil trend that is 7.5 kilometres long by two kilometres wide, named the Canadian Creek trend.

The highest gold-in-soil results of the 2011 survey were returned in the eastern three kilometres adjacent to the boundary with the Casino property. The anomaly in this area consists of a total of 310 samples, of which 56 per cent or 173 are considered to be anomalous (above 40 ppb Au), with values ranging from less than one ppb Au to 970 ppb Au (0.97 gram per tonne Au). Historic gold-in-soil values within this trend range from less than one ppb Au to 2,289 ppb Au (2.29 g/t Au).

A 391-line-kilometre detailed magnetic survey was completed in 2011 on the Canadian Creek property. A structural interpretation of this survey suggests that the Canadian Creek property contains a major east-northeast-west-southwest-trending structural zone that is subparallel with the trend of the extensive gold-in-soil anomaly and may provide a significant control on gold mineralization on the property. The structural zone was later modified by a series of north-northwest-striking faults which may also be important for location of gold mineralization.

A limited induced polarization survey of five north-south lines spaced at 200-metre intervals totalling 10 line kilometres was completed in the area of historic drill holes CC09-08 and CC09-10, which intersected 3.46 g/t Au over 1.5 metres and 1.09 g/t Au over three metres, respectively. This survey has outlined two distinct zones of elevated chargeability that appear to correlate with magnetic and gold-in-soil anomalies in the general vicinity of the historic drill holes. Further survey lines need to be completed to better define the full extent of the anomaly, but initial results are encouraging.

The Canadian Creek property abuts Kaminak’s Coffee gold property immediately south of the recently discovered Sugar gold-in-soil trend (see Kaminak’s press release dated Dec. 2, 2010). On its eastern claim boundary, the property is bordered by the very large-tonnage, low-grade Casino copper-gold-molybdenum porphyry deposit owned by Western Copper & Gold Corp. Castillian has an option to acquire a 60-per-cent interest in the Canadian Creek property from Cariboo Rose Resources Ltd. (see press releases dated Oct. 18, 2010, and Jan. 28, 2011).

Tony Gilman, PEng, consulting geologist/geological engineer with Terrane Geoscience Inc., and Kevin Brewer, PGeo, manager, Yukon, for Castillian, both of whom are qualified persons as defined by National Instrument 43-101, have reviewed and approved the scientific and technical content of this press release. Geophysical surveys were completed under the direction of Dr. Chris Hale, PGeo, chief geophysicist for Castillian. Dr. Hale is a qualified person as defined by National Instrument 43-101.

,

No Comments

KAMINAK DEFINES EXTENSIVE SOIL ANOMALIES ALONG NEWLY RECOGNIZED SUGAR TREND, COFFEE PROJECT

Kaminak Gold Corp. has provided soil results from grid sampling of the Sugar area located approximately 20 kilometres southeast of the Supremo-Latte drill discoveries. The soil results from Sugar further reinforce the company’s belief that a district-scale gold system is present at Coffee. No previous drilling has been completed on the Sugar prospects. Additional widely spaced reconnaissance soil sampling has also been completed on previously unexplored portions of the 150,000-acre Coffee property. Basic soil sampling is a reliable exploration tool at Coffee due to the lack of glacial influence and near-surface nature of gold mineralization.

“These results continue to illustrate the excellent early stage exploration potential of the Coffee property. The scale and intensity of the new Sugar soil results are strikingly similar to the original soil results that led to Kaminak’s drill discoveries in 2010,” stated Dr. Rob Carpenter, Kaminak’s president and chief executive officer. “The Sugar anomalies represent the most significant untested gold-in-soil trends in the Yukon and an extensive drill program is currently planned for early 2012.”

Key point summary

 Several kilometre-scale-long gold-in-soil trends identified in the Sugar area, including Sugar North (minimum one km long) and Sugar South (minimum two km long);

  • Geological setting and geochemical pathfinders suggest mineralized trends at Sugar are typical Coffee-style structurally controlled occurrences;
  • Widely spaced ridge line samples within previously unsampled portions of the Coffee property yield results as high as 3,086 parts per billion Au;
  • Continuing drill program now exceeds 46,000 m completed since April. Current focus is on the Supremo and Latte gold zones.

 Sugar soil results

The Sugar trend was identified by a first-pass ridge and spur sampling in 2010 comprising a broad consistent zone of gold-in-soil located 20 km from the Supremo-Latte zones at Coffee. A follow-up 100 m by 50 m grid soil sampling program was completed in July, 2011. Soil assay results delineate a broad new gold-in-soil footprint measuring four km by 1.8 km. The Sugar zone is now directly comparable in scale and tenor to the original gold-in-soil anomaly over the Supremo-Latte-Double Double areas at Coffee that led to Kaminak’s drill discoveries in 2010.

A total of 2,916 soil samples from Sugar were analyzed and 92 of these samples yielded results greater than 100 ppb Au. Over all, results ranged from background (less than 10 ppb Au) to a high of 2,135 ppb Au (2.135 grams per tonne (g/t) Au). Gold-in-soil anomalies are also associated with high arsenic (As) and antimony (Sb), which is also identical to the Coffee geochemical suite. Two broadly east-west-trending zones are identified as Sugar North and Sugar South.

The core zone of Sugar North (consistent more than 50 ppb Au gold-in-soil) measures one km east-west by 500 m north-south, with 27 more than 100 ppb Au samples peaking at 522 ppb Au. The Sugar North trend can be traced 900 m farther to the west, across a section of north-facing slope where soil sampling is subdued by permafrost, to a zone measuring 600 m by 300 m containing an additional four plus 100 ppb Au samples peaking at 255 ppb Au.

Sugar South comprises an eastern and western zone, separated by a section of north-facing slope where soil sampling is subdued by permafrost. The eastern zone measures 900 m east-west, by 350 m north-south, with 23 more than 100 ppb Au samples peaking at 1,142 ppb Au (1.142 g/t Au). The western zone measures 1,200 m east-west, by 600 m north-south, with 19 more than 100 ppb Au samples peaking at 1,450 ppb Au (1.450 g/t Au). The total combined strike length, if proven by future sampling to be a continuous alteration system, could be in excess of 2.3 km east-west.

Preliminary interpretation of geophysical data suggests east-west-trending structural zones marked by magnetite destruction at both Sugar North and Sugar South, plus additional possible structural trends in other orientations akin to those observed at Coffee. An initial trenching program was completed over the Sugar North and South zones in September, 2011, with assay results currently pending. A follow-up drilling program is planned for 2012.

Several smaller plus 100 ppb Au zones are located throughout the Sugar grid survey, and ridge and spur sampling returned an additional six plus 100 ppb Au samples peaking at 3,086 ppb Au located within an area measuring seven km by five km to the east of the current Sugar grid. This zone will be targeted for follow-up grid soil sampling in 2012.

Maps are currently available on the Kaminak website.

Subject to regulatory approval, the board of directors has granted an aggregate of 150,000 stock options under the company’s stock option plan to newly appointed chief financial officer, Jonathan Singh. The stock options have an exercise price of $2.82 per share, will vest according to schedules set by the board of directors and are exercisable for a period of five years.

, , , , ,

No Comments

Castillian Provides update on Cariboo Rose’s Canadian Creek Property

Castillian Resources Corporation (“Castillian” or the “Company”) announces that pursuant to a letter agreement (the “Letter Agreement”) entered into with Alder Resources Ltd. (“Alder”) to acquire the right to earn a 60% interest in the Canadian Creek Gold property located in the Whitehorse Mining District, Yukon (the “Property”) (See Press Release dated October 18, 2010), the parties have clarified the terms of the previously entered into assignment agreement among Castillian, Alder and Cariboo Rose Ltd. Alder acquired its interest in the Property pursuant to an option agreement (the “Option Agreement”) dated June 11, 2009 entered into between Alder and Cariboo Rose Resources Ltd. (the “Optionor”) under which Alder had an option to acquire a 60% interest.

, , , , ,

No Comments

Cariboo Rose and Alder Resources Gold Mineralization Discovered in New Targets

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)

CC09-05

63.87

71.24

7.37

0.16

including

64.90

65.24

0.34

0.53

13.5

CC09-06

5.00

20.00

15.00

0.33

CC09-08

77.80

79.30

1.50

3.50

3.5

CC09-10

82.80

90.05

7.25

0.68

 

including

82.80

85.80

3.00

1.10

30.4

                (* 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.

, , , ,

No Comments

Cariboo Rose Outlines Gold Geochemical Anomalies Along a 4 Km Trend in White Gold District

Cariboo Rose Resources Ltd. (TSX-V: CRB) and Alder Resources Ltd. (TSX-V: ALR) are pleased to report on ongoing exploration on the Canadian Creek Project 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 (TSX-V: UW) White Gold project and approximately 25 km southeast of Kaminak Gold Corp.’s Coffee property.

A soil sampling grid has been cut and sampled, and the analytical results indicate a series of gold and arsenic anomalies across the entire 4.0 km width of the grid. The anomalies are defined by 20 ppb contours and individual anomalies are up to 1.5 km in length. At a 50 ppb gold threshold the largest anomaly is 1.2 km long and 300 m wide. The anomalies show strong linear trends from east-west to northeasterly. Previous sampling of float in one of these anomalies returned 6.6 g/t gold and 51 g/t silver from a piece of quartz-arsenopyrite vein. An induced polarization (IP) geophysical survey was also completed over the grid and outlined several anomalies that show the same general trend as the soil anomalies.

A separate gold geochemical anomaly, 3.0 km southeast of the gold-arsenic anomaly and adjacent the Casino Deposit presently being explored by Western Copper Corporation, was defined during previous exploration on the property and received some follow-up. An old trench (9076C) in the middle of this large anomaly was reported to have returned 1.69 g/t gold across 10 m. The trench was re-sampled with 5 m chip/panel samples and returned 45 m of 0.33 g/t gold with an interval of 10 m grading 0.93 g/t in the centre of the trench. A diamond drill hole completed in 1993 located within this same anomaly intersected 150 m grading 0.49 g/t gold, including 44 metres grading 0.71 g/t.

Alder has contracted Kluane Drilling, based in Whitehorse, to undertake a drilling program on the property. Kluane is presently drilling for Western Copper on the adjacent Casino Deposit and this provides a tremendous logistical and cost advantage to the project.

Alder can earn a 60% interest in the Property by completing a schedule of cash payments (totaling $250,000) to Cariboo Rose, issuing a total of 250,000 shares to Cariboo Rose, and fulfilling designated 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. Bob Johnston, P. Geo., also a qualified person within the context of National Instrument 43-101, is supervising the project work in the field. Analysis was performed by Acme Analytical Laboratories, a certified facility in Vancouver, BC, using multi-element (ICP-MS) Aqua Regia Digestion (1D) procedures, with gold and silver values determined using fire assay procedures.

, , ,

No Comments

Yukon (White) Gold Rush Fever

Richard (Rick) Mills

www.aheadoftheherd.com
                   As a general rule, the most successful man in life is
                             the man who has the best information

White Gold Area Play

Seemingly not a single day goes by without a news release about another company staking claims and citing recent drill results from Underworld Resources UW.v as the reason why. Underworld’s recent exploration success has created renewed interest in Canada’s Yukon Territory and in the market.

The importance of Underworld’s discovery cannot be overstated in the context of Yukon exploration and the markets in general. This kind of good news can excite the market for the entire junior gold exploration sector. Also area plays, where one company makes a discovery, then dozens of other companies rush in to stake all around them, are one of the very foundations of our junior markets.

Underworld’s assays are the most significant gold intercepts ever reported in the White River/Yukon River junction area and very possibly the best new gold discovery in Canada over the last several years. As the story at Underworld’s White Gold project unfolds I believe we can expect exciting times for those investors who get involved with the various companies participating in, what still are, very early days of this developing area play.

Geology and Mineralization

The White Gold District lies within the Tintina Gold Belt (a 200-km-wide, 1,200-km-long arc extending from northern British Columbia  into southwest Alaska) and is underlain by rocks of the Yukon-Tanana geologic terrane. The Tintina Gold Belt includes such large gold deposits as Pogo (3.6 M ozs P & P reserves), Fort Knox (3.8 M ounces P & P reserves, 1.7 M ozs M & I resources), True North, Donlin Creek (29.3 M ozs Au Proven & Probable reserves, 6.0 M ozs Au Measured & Indicated resources) and Shotgun.

No one has yet defined a geological model for the White Gold occurrences because the geology of the Underworld discovery is different than other discoveries in the Tintina gold belt. This could be significant because it might mean broad areas that had seen scant attention during past exploration efforts could now become the focus of intensive work programs that have a very real potential for success.

The Underworld discovery properties host multiple styles of gold mineralization including: quartz veins, hydrothermal breccias and disseminated sulphide targets indicated by widespread soil geochemical anomalies. The dominant mineralization at Golden Saddle is quartz, albite and carbonate breccias with low volumes of disseminated pyrite. At the Arc Zone mineralization is characterized by breccias with a matrix of sulphides including pyrite and arsenopyrite. Property basement geology consists of five stacked thrust sheets of lower to middle-amphibolite facies Yukon-Tanana schist and gneiss.

There is some consensus that mineralization is probably intrusion related due to elevated Molybdenum numbers and the hydrothermal alteration but no direct connection to an intrusion has been made so far. There is quartz in veins, stockworks and breccias as well as sulphides in what appears to be a linear moderately dipping structure. More drilling and study is needed to develop a geological model of the White Gold discovery.

Area Play

Located in a new emerging gold province in the Yukon Territory Canada, the White Gold area play has the potential to go for several years as field crews are mobilized to the Yukon and news flow will be constant from almost all the companies involved.

Underworld’s discovery has sparked a land rush, there are an increasing number of savvy explorers and market players staking whatever land they can get surrounding the discovery area. A select few companies will be buy and hold for drill results and many others will present trading opportunities.

Given very legitimate, and increasing daily, concerns about growing country risk this is an extremely timely article about a truly exciting gold area play. Canada’s Yukon Territory is one of the most geologically prospective and pro-mining jurisdictions in the world today.

All the elements of a new area play are here:
1) A spectacular new discovery, with new geology or a twist on old geology
2) A jurisdiction with safe and reasonable tenure.
3) An area amenable to mineral exploration and development.

The White Gold Area Play junior players are gathering for what could be one of Canada’s most important gold discoveries. There is huge upside potential in any of these juniors if they make another discovery. One drill hole could send their (and their neighbors) share price soaring. And if there is a new geological model for UW’s discovery this would open a whole new chapter in Tintina Gold Belt exploration. In alphabetical order (after Underworld) here are a few companies that I found very interesting and have singled out. Below these companies is an extensive, but likely not exhaustive, list of the White Gold Area Play juniors.

Underworld Resources (UW.v) –  The company who started it all. Low share count, 16,900 hectares of property in the area of their discovery and approximately $16,000,000 in their treasury.

Cariboo Rose (CRB.v)  – Has the 4,800 hectare Canadian Creek property 50 km southeast of White Gold. It is optioned out 60:40 with CRB holding 40%. The property has an untested soil gold-arsenic anomaly similar to White Gold. Details of this summer’s exploration program are pending. CRB is part of the Eastfield Group and follows the prospect generator model.

Kaminak Gold (KAM.v) – Has three properties totaling 7,680 hectares 27 and 8 km southeast of UW’s White Gold property. KAM was the first into the area and have announced an aggressive program totaling at least $500,000 for this year. KAM is part of the Discovery Group and follows the prospect generator model.

Northern Tiger (NTR.v) – Seven Properties totaling 5,244 hectares 65 km southeast of White Gold, Sonora Gulch is their flagship property.  Capstone CS.t, owner of the Minto mine, retains back-in rights to acquire a 65% interest in any of Northern Tiger’s projects located within a 50 km radius of the Minto Mine that are found to have mineralization amenable to processing in existing Minto Mine facilities. A $1-million dollar program is budgeted for this summer. Capstone owns 13.5% of the issued and outstanding shares of Northern Tiger.

Valley High Ventures (VHV.v) –Valley High acquired the 3,900 hectare Flume property, 30km northwest of UW’s White Gold, from Phelps Dodge. It is more advanced than most of the properties optioned by other area players and has had extensive soil sampling done.

Area Play Portfolio
UW.v      PEX.v
ALR.v     CDB.v 
MPS.v    NTR.v
HAO.v    AIX.v
MCI.v     HMI.v
NCM.v    SQA.v
ABR.v     NET.v
VHV.v     ALN.v
WER.v    SQI.v
ALN.v     URA.v
CRB.v     KAM.v
ATC.v     ADG.v

Canada’s Yukon Territory has a stable geopolitical environment and a tremendous wealth of mineralization. History has proven time and time again that junior exploration stocks can write a very exciting discovery story and reward investors with multiple returns on their capital. It is still very early days in the White Gold Area Play and the greatest rewards lie ahead of us.
                                                       ************
 
If you’re interested in the junior resource market and would like to learn more please come and visit us at.
http://www.aheadoftheherd.com/
 
Richard (Rick) Mills
www.aheadoftheherd.com
rick@aheadoftheherd.com

Bio – Richard is host of www.aheadoftheherd.com and invests in the junior resource sector. His articles have been published on over 60 websites including – Wall Street Journal, 321Gold, Kitco, USAToday, Safehaven, The Gold/Energy Reports, Gold-Eagle and Financial Sense.

, , , , , , ,

No Comments

Cariboo Rose Options Canadian Creek Property, White Gold District, Yukon

canadiancreekforblog-300Vancouver, BC, June 15, 2009 – Cariboo Rose Resources Ltd. (TSX-V: CRB) has signed a Letter of Intent Option Agreement with Alder Resources Ltd. (TSX-V: ALR) giving Alder the option to earn a 60% interest in the currently 100% Cariboo Rose owned Canadian Creek Property. The total area of the Canadian Creek claims is 4,800 hectares (12,000 acres). The Canadian Creek property is located in the Whitehorse Mining District of the Yukon Territory 160 km south of Dawson City. The property 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 Coffee property.

Alder can earn a 60% interest in the Property by completing certain cash payments (totaling $250,000) to Cariboo Rose, issuing a total of 250,000 shares in its capital to Cariboo Rose, and fulfilling designated exploration expenditures on the property totaling $2,500,000, within the time specified, all to be completed by June 18, 2013. Alder has given a firm commitment to complete the first $250,000 of work by June 18, 2010.

Alder has also committed to fund and complete an NI 43-101 compliant report on the Canadian Creek property by January 31, 2010. Upon Alder earning a 60% interest in the Canadian Creek property the parties shall be constituted a joint venture.

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

Contact:
Paul Way, Business Development Manager
Phone (604) 681-7913, Toll Free: 888-656-6611
email: pway@eastfieldgroup.com

, , , , ,

No Comments

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

, , , ,

No Comments