Vancouver, BC / TheNewswire / June 14, 2017 - Cariboo Rose Resources Ltd. (TSX-V: CRB) ("Cariboo Rose") is pleased to announce that it will mobilize to the Canadian Creek Project in the Yukon Territory within the next week. The scheduling of work will start with detailing the numerous existing linear soil gold-arsenic-antimony anomalies followed first by magnetometer and induced polarization surveying and then by drilling. The Canadian Creek crew will initially number approximately 12 people. A helicopter contract has been signed with Fireweed Helicopters Limited of Whitehorse and a drilling contract with Midnight Sun Drilling Inc. also of Whitehorse. The current 2017 budget has been set at $1,000,000.
The Canadian Creek property is located approximately 160 kilometres south of the City of Dawson. It abuts Western Copper and Gold Corp's (TSX: WRN) Casino porphyry copper-gold-molybdenum property on the east and lies 25 kilometres southeast of the main gold mineralization on Goldcorp Inc.'s (TSX: G, NASDAQ: GG) Coffee property and is contiguous with the southern boundary of the Goldcorp property. Work completed between 2009 and 2016 at Canadian Creek confirmed geology, geochemistry and alteration that is consistent with newly discovered gold mineralization at Coffee and other nearby properties, while work previous to 2009 focused on Casino-type porphyry copper-gold-molybdenum mineralization which successfully identified two significant target areas on the southern half of the property.
Both Coffee (Goldcorp) and Casino (Western Copper and Gold) have published multimillion ounce gold resources. Other active programs in the area are being undertaken by several companies with particularly large programs being undertaken by White Gold Corp. (TSX-V: WGO) including one on the nearby Betty property.
J.W. (Bill) Morton, P.Geo. is a qualified person within the context of National Instrument 43-101, and has read and takes responsibility for this news release.
About Cariboo Rose Resources Limited
In addition to its 100% owned Canadian Creek property Cariboo Rose owns interests in five mineral projects in British Columbia four of which are 100% owned. In addition to mineral properties Cariboo Rose owns a strategic investment of 500,000 free trading shares in Western Copper and Gold Corp.
