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Sunday, June
15, 2008
Higher Grades Encountered in Southeast Zone of Woodjam
Project
Vancouver, BC, June 15, 2008 - Cariboo Rose Resources Ltd.
("Cariboo Rose") (TSX-V: CRB) and Fjordland Exploration Inc.
("Fjordland") (TSX-V: FEX) are pleased to report assays from the
fourth hole of the initial 2008 diamond drilling program at the Woodjam
porphyry copper-molybdenum-gold project in central British Columbia. Hole
08-83 intersected 402 metres grading 0.39% copper, 0.006% molybdenum and
0.077 g/t gold, with the top 215 metres of this interval carrying 0.52%
copper, 0.003% Molybdenum and 0.111 g/t gold.
Hole 08-83 represents a 78 metre step-out to the south from hole 07-79. The
higher grade intersection of copper, along with elevated gold, is very
encouraging with the proximity of the Megabuck and Takom zones to the
northwest and west respectively, which carry significant amounts of gold as
well as copper. A summary of results for hole 08-83, along with the results
of previously released holes 07-79 to 08-82, is provided in the following
table:
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Drill Hole
|
From (m)
|
To (m)
|
Core length (m)
|
Cu%
|
Mo%
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Au g/t
|
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08-83
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128.63
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530.66
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402.03
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0.39
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0.006
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0.077
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including
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128.63
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344.0
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215.37
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0.52
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0.003
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0.111
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|
including
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128.63
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200.56
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71.93
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0.63
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0.003
|
0.123
|
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Previously Reported
|
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07-79
|
145.2
|
348.8
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203.6
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0.34
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0.014
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0.047
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08-80
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189.9
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581.6
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391.7
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0.22
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0.012
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0.046
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08-81
|
172.2
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393.2
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221.0
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0.28
|
0.016
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0.060
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08-82
|
129.5
|
700.4
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570.9
|
0.24
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0.013
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0.038
|
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All
holes bottomed in mineralization and were lost due to bad ground conditions
or rig capability.
|
The style and grades of mineralization 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).
A total of seven holes have now been drilled and reported for the Southeast
Zone; and all are mineralized from the bedrock surface to the bottom of the
hole. Between February and May 2008, four holes (08-80 to 08-83) totaling
2,206 metres were completed on the Southeast Zone. Mineralization appears to
correlate well with an IP chargeability anomaly that measures 1.5 km by 1.0
km. The Southeast Zone is open to expansion to depth and in all directions;
the joint venture companies are optimistic about the potential to outline a
large tonnage of mineralized material.
Drilling on the Southeast Zone was terminated in mid-May due to spring
conditions. Drilling will recommence later this month, with a minimum of
3,000 metres of drilling on the Southeast Zone. Holes will be drilled at a
minimum of 100 metre spacing.
The companies have also received the final results from their
88-line-kilometre induced polarization and 54-line-kilometre magnetic
surveys. Several new anomalies have been identified, including the
significant expansion westwards onto the newly acquired Magalloy option of
the Takom copper-gold zone, which now measures 3.0 km by 3.0 km. These
anomalies include several high priority targets for follow-up drilling.
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. 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 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 please visit the
Company's website at www.cariboorose.com.
Glen Garratt
G. L. Garratt, P.Geo., Director
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.
You can also view this
News Release on our website at: http://www.cariboorose.com/s/NewsReleases.asp?ReportID=307494
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