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Thursday, April 24, 2008
Drilling Commences at Woodjam Project in Central British
Columbia
Vancouver, B.C., April 24, 2008 -- Cariboo Rose
Resources Ltd. ("Cariboo Rose")
(TSX-V: CRB) and Fjordland Exploration Inc. ("Fjordland") (TSX-V:
FEX) are pleased to report analytical results for the first two diamond drill
holes of their 2008, Phase 1 (4,000 metres) drilling program on the Southeast
Zone of the Woodjam Project, located in the road accessible Cariboo region of
central British Columbia.
Hole WJ-08-80, located 56 metres to the northwest of hole WJ-07-79,
intersected copper-molybdenum mineralization from the bedrock surface at
189.9 metres to the end of the hole at 581.6 metres and remains open to
depth. The
entire 391.7 metre interval graded 0.22% Cu and 0.012% Mo.
Several higher-grade intervals were noted, including 61.6 metres
grading 0.42% Cu and 0.014% Mo.
Hole WJ-08-81, located 93 metres to the southwest of hole WJ-07-79,
intersected copper-molybdenum mineralization from the bedrock surface at 172.2
metres to the end of the hole at 393.2 metres, where the hole was lost due to
broken ground. The entire 221.0 metre interval graded 0.28% Cu and 0.018%
Mo, including 96.3 metres grading 0.33% Cu and 0.025% Mo.
These results indicate the size potential of the Southeast Zone
mineralization is wide open. Drilling of hole WJ-08-82 is in progress at a
site 50 metres northeast of hole WJ-07-79. Several more holes are planned in
this phase and will all be 100-metre step-outs.
The newly discovered Southeast Zone has now been intersected in all of the
five drill holes testing it; porphyry-style copper-molybdenum mineralization
has been encountered from the bedrock surface to depths in excess of 580
metres (note: all holes bottomed in mineralization) over a strike length of
900 metres. The IP chargeability high anomaly measures 1.5 by 1 kilometres
and remains largely untested. Mineralization and grades in the Southeast Zone
are comparable with those at significant copper-molybdenum mines in BC such
as Teck Cominco's (TSX: TCK.B) Highland Valley Copper deposit (2007 reserves
of 318.7 Mt grading 0.43% Cu and 0.008% Mo) and Taseko Mines' (TSX: TKO)
Gibraltar deposit (2007 reserves of 383.6 Mt grading 0.31% Cu and 0.009% Mo).
Chalcopyrite, molybdenite and minor pyrite occur as fracture fillings and in
quartz +/- anhydrite/gypsum veinlets within quartz monzonite. Locally, the
rock has undergone potassic alteration. Selected photographs of core
specimens and a map of the drill hole locations are available at http://www.cariboorose.com/s/Woodjam.asp.
The existence of at least three significant copper+/-gold+/-molybdenum zones
at Woodjam within a diameter of 6 kilometres is thought to have some
similarities to the geological setting at Newcrest Mining Limited's (ASX:
NCM.AX) Cadia Valley operations in News South Wales, Australia. There, the
Cadia Hill and Ridgeway deposits are currently being mined by open pit and
underground methods, respectively. The latter is located 500 metres below
surface, and recently the Ridgeway Deeps deposit was outlined 1,300 metres
below surface. Current resources at Cadia are estimated at 267 Mt grading
0.15% Cu and 0.65 g/t Au.
Analyses were performed by Acme Analytical Laboratories, a certified facility
in Vancouver, BC, using multi-element (ICP-ES) procedures, with gold and
silver determined using fire assay procedures. External standards were
inserted into the sample sequence at a ratio of one standard per twenty-five
samples. Bruce Laird, P.Geo, of Mincord Exploration Consultants Ltd. is
supervising the 2008 drilling program and sampling protocol. Bill Morton,
P.Geo., and T. G. Schroeter, P.Eng./Geo. who are qualified persons within the
context of National Instrument 43-101, have read and taken responsibility for
this news release.
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
mineral exploration projects in Western Canada, two of which border the
Woodjam property. 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. The other companies in the
Eastfield Group are Eastfield Resources Ltd. (TSX-V: ETF), Lorraine Copper
Corp. (TSX-V: LLC) and Wildrose Resources Ltd. (TSX-V: WRS). For more
information visit the Company's website at www.cariboorose.com.
Bill Morton
J.W. (Bill) Morton, P.Geo
President
Contact:
Paul Way, Business Development Manager
Phone (604) 681-7913, Toll Free: 888-656-6611
email: pway@eastfieldgroup.com
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.
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