News Release - Cariboo Rose Begins Drilling on the Woodjam Gold-Copper
Property - July 19, 2007
Cariboo Rose Resources (TSX-V: CRB) has started drilling on the Woodjam
gold-copper property, located in south-central British Columbia, five
kilometres south of Imperial Metals Corp's (TSX: III) Mount Polley mine
property. The Woodjam property is a joint venture in which Cariboo Rose
holds a 40% interest and Fjordland Exploration Inc. (TSX-V: FEX) holds a 60%
interest.
Three holes are planned to test a geophysical induced polarization (IP)
anomaly recently discovered by the ongoing 2007 survey program at the
property. To date, approximately 100 kilometres of IP and magnetic
geophysical surveys have been completed at Woodjam. The surveys have
uncovered a new zone 3 kilometres east of the Takom area, called the
Southeast Zone, and suggests that a large intrusive/hydrothermal complex
measuring approximately five kilometres by six kilometres underlies the
almost 30,000 hectare Woodjam property, with at least three large IP
chargeability anomalies. Two of these, the Megabuck and Takom Zones, are
associated with known copper and gold mineralization while the Southeast
Zone has had no previous exploration.
The geophysical survey data dramatically expands the area of interest for
exploration on the Woodjam property and suggests a much greater potential
for discovery than previously envisioned. Northeasterly trending geologic
features have long been considered important in determining the location of
large mineralizing systems in the generally northwest trending Quesnel
Terrane. This recent data suggests that such a feature is present and is
aligned with the known mineralized areas on the property.
The Woodjam property has had approximately 16,000 metres of drilling since
2001, most of which has been in the Megabuck zone. Exploration has
demonstrated that the property is prospective for bulk-tonnage gold-copper
deposits similar to other porphyry deposits in B.C.'s Quesnel Terrane.
Drilling in 2004 included a hole that intersected 378 metres grading 0.81
g/t gold and 0.12% copper and another that intersected 397 metres grading
0.82 g/t gold and 0.12% copper. Drilling in 2006 included a hole with 94
metres grading 0.95 g/t gold and 0.19% copper and another hole with 92
metres grading 1.0 g/t gold and 0.22% copper.
J.W. Morton, P.Geo. and G.L. Garratt, P.Geo. are the qualified persons who
have reviewed and take responsibility for this news release.
Bill Morton
J.W. (Bill) Morton, P.Geo
President
Contact: Paul Way, Business Development Manager or: B&D Capital Partners
(604) 681-7913 (604) 685-6465
Toll Free: 888-656-6611
pway@eastfieldgroup.com
Or visit the Company's website at: http://www.cariboorose.com/
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 and currently
operates five mineral exploration projects in Western Canada. It was spun
off from Wildrose Resources Ltd. (TSX-V: WRS) in 2006, to allow Wildrose to
focus on the Spanish Mountain Project. Cariboo Rose is part of the
Eastfield Group. Since its inception in 1987, the Eastfield Group has
utilized a successful business strategy that leverages its exposure by
securing third party exploration financing on the majority of its projects.
The other companies in the Eastfield Group are Eastfield Resources (TSX-V:
ETF) and Wildrose Resources.
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 Securities and Exchange Commission.
.
![]()