Ongoing Drilling at Woodjam South Continues to Expand Southeast Zone Copper-Gold-Molybdenum Mineralization
Vancouver, BC, January 5, 2011 – Cariboo Rose Resources Ltd. (TSX-V: CRB) “Cariboo Rose” and Fjordland Exploration Inc. (TSX-V: FEX), 40%-60% partners in the Woodjam Joint Venture (“WJV”), report that Gold Fields Limited’s (NYSE: GFI) exploration company (Gold Fields Horsefly Exploration Corporation) “Gold Fields” latest drilling results continue to expand the copper-gold-molybdenum zone at the Woodjam South property. Drilling results from an additional three holes (1,200 m) of the 2010 program have intersected long intervals of copper-gold-molybdenum mineralization to expand the zone to the northeast. The Southeast Zone currently has an 800 m by 630 m footprint.
Southeast Zone: Summary of Significant Drill Results
|
Hole ID |
From (m) |
To (m) |
Int. (m) |
Cu% |
Au g/t |
Mo% |
Cu Eq% |
|---|---|---|---|---|---|---|---|
| SE10-17 |
121.9 |
*359.7 |
237.7 |
0.25 |
0.02 |
0.008 |
0.31 |
| including |
121.9 |
260.7 |
138.8 |
0.38 |
0.03 |
0.009 |
0.46 |
| including |
148.0 |
196.0 |
48.0 |
0.52 |
0.05 |
0.013 |
0.62 |
| SE10-18 |
96.0 |
*390.1 |
294.1 |
0.18 |
0.02 |
0.007 |
0.24 |
| including |
361.0 |
*390.1 |
29.1 |
0.46 |
0.05 |
0.016 |
0.58 |
| including |
174.0 |
187.0 |
13.0 |
0.96 |
0.13 |
0.004 |
1.06 |
| SE10-19 |
179.8 |
*450.8 |
271.0 |
0.18 |
0.02 |
0.005 |
0.22 |
| including |
325.0 |
349.0 |
24.0 |
0.38 |
0.04 |
0.017 |
0.50 |
Table Notes: Intervals are core lengths; Cu Equivalent in % calculated using US$2.50/lb copper, US$950/oz Au and US$15/lb Mo and the formula: ((%Cu x 22 x Price Cu/lb) + (g/t Au x 0.03215 x Price Au/oz) + (%Mo x 22 x Price Mo/lb))/ (Price Cu/lb x 22). * = end of hole. Metallurgical recoveries and net smelter returns are not considered.
Hole SE10-17 was collared approximately 200 m southwest of hole SE10-15 which assayed 307.9 m grading 0.23% Cu, 0.02g/t Au and 0.004% Mo, including 108.0 m grading 0.41% Cu, 0.04g/t Au and 0.002% Mo. Hole SE10-18 was collared approximately 125 m north-northeasterly of hole 15. Hole SE10-19 was collared approximately 140 m south of hole SE10-07 which assayed 234.6 m grading 0.24% Cu, 0.03g/t Au and 0.001% Mo, including 51.6 m grading 0.45% Cu, 0.04g/t Au and 0.002% Mo. Hole SE10-20, drilled approximately 760 m north of hole SE10-07 (234 m grading 0.24% Cu and 0.001% Mo, including 51.6 m grading 0.45% Cu and 0.002% Mo and bottoming in well mineralized rock), appears to be located outside the zone of mineralization.
As with the previous drilling, all holes continue to be mineralized from the overburden/bedrock interface to the bottoms of the holes, except for two occurrences of host rock displacement by narrow, younger basalt dykes and hole SE10-20. Two of the holes were stopped in high-grade mineralization. In particular, the last sample interval of 2.14 m in hole SE10-18 assayed 0.77% Cu and 0.03g/t Au, down to 390.14 m, while the last sample interval of 2.14 m in hole SE10-19 assayed 0.43% Cu and 0.036g/t Au down to 450.8 m.
Gold Fields has informed the WJV that it plans to resume drilling in mid-January. During 2010, 21,908 m of drilling were completed on the adjoining Woodjam North and Woodjam South properties; the properties are located 45 km east of Williams Lake in south-central British Columbia. During 2010, Gold Fields completed 7,295 m in 20 holes on the 13,827-hectare Woodjam South copper-gold-molybdenum property.
Core samples were analyzed by ALS Laboratory Group, a certified facility in Vancouver, BC. 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.
Woodjam North Update
Phase Three drilling (1,053 m in 3 holes) was recently completed on the Deerhorn Zone (see News release dated November 22, 2010 for earlier results) at the adjoining Woodjam North gold-copper property, bringing the total drilling at Woodjam North during 2010 to 14,613 m in 55 holes. Assay results for these remaining three holes are pending.
Glen Garratt, P.Geo, Director.
Cariboo Rose Resources Ltd.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
