Cariboo Rose Resources Ltd. operates five early stage gold and copper mineral exploration projects in British Columbia and the Yukon. Four of the projects are currently optioned and will have active exploration in 2007 with a $1.5 million budget for third party expenditures. Cariboo Rose is a fairly new listing and is a spin-off from Wildrose Resources ("WRS" TSX-V). This spin-off was designed to let Wildrose focus on the Spanish Mountain project while allowing Cariboo Rose to continue with the early stage properties. Cariboo Rose is part of The Eastfield Group, which had it's beginning in a 1987 collaboration between Bill Morton and Glen Garratt.
Cariboo Rose Resources holds several properties and operates using the option model, which consists of acquiring early stage, high quality exploration projects and then attracting option partners to fund the development of these properties. The advantages are that this limits the amount of financing that is required and reduces dilution of existing shareholders. By operating multiple projects, the company also increases the chances of a major resource discovery.
Cariboo Rose operates in British Columbia and the Yukon, jurisdictions with low political risk and a long history of mineral development. The projects were acquired in times of low mineral prices and offer large upside in the event of a major discovery.
Woodjam: Gold and Copper Project
Woodjam is high quality copper project located in south-central British Columbia approximately 70 kilometres east of Williams Lake and 5 kilometres from the Mount Polley claim group. Previous drilling in Woodjam has included 361 metres grading 0.84 g/t gold and 0.12% copper, and 358 meters grading 0.82 g/t gold and 0.12% copper. An induced polarization study is currently ongoing, preliminary results are encouraging and drilling is planned to follow up the ongoing geophysical program.
Woodjam is a joint venture between Cariboo Rose and Fjordland Exploration, where Cariboo Rose holds a 40% interest in the property and Fjordland holds a 60% interest.
Canadian Creek: Copper, Gold and Molybdenum Project
Canadian Creek is a copper, gold, and molybdenum property in the Yukon, located approximately 300 km northwest of Whitehorse and 160 km south of Dawson City. It will have seven to nine holes drilled in promising targets in 2007 with a budget of $400,000. North American Vanadium will fund the work under an option that gives them the right to earn a 60% interest in the property.
This property, which has the potential to host a porphyry style or an intrusion related deposit, is located to the immediate west of the Casino deposit. Previous drill highlights include 150 metres grading 0.49 g/t gold and 26 metres grading 1.04 g/t gold.
Carruthers Pass: Copper, Zinc, Gold and Silver Project
The Carruthers Pass copper, zinc, gold and silver property is located in northern British Columbia, approximately 70 kilometres south of the Kemess gold-copper mine and 200 kilometres north of Smithers. It is under option to Hawthorne Gold, who may earn a 60% interest in the property.
Several geophysical conductors have been outlined in an airborne survey completed in July 2004. Exploration programs in 2005 and 2006 have outlined several targets for follow-up. Hawthorne completed a surface mapping and prospecting program in 2006 at a cost of $130,000, with a follow up program planned for 2007.
Cowtrail: Copper and Gold Project
The Cowtrail gold and copper property is located five kilometres southeast of the existing Mt. Polley claim group, operated by Imperial Metals Corporation. The property covers an airborne magnetic feature that extends to the northwest from a weakly mineralized alkalic intrusive discovered by drilling completed by Eastfield Resources in 1998. The property is currently under option to Dajin Resources, who may earn a 65% interest in the property.
In 2006, $91,000 was spent by Dajin Resources to establish grids and complete 20 line kilometres of magnetometer and induced polarization surveys. This work has resulted in the identification of a number of promising targets that will be evaluated in 2007.
Pat: Copper and Gold Project
The Pat project is a copper and gold project located in the eastern Cariboo close to Wildrose Resources' Spanish Mountain project and the Woodjam project. It shows a magnetic signature similar to Mt. Polley as well as an Induced Polarization anomaly. The Pat project is 100% owned by Cariboo Rose and is currently available for option.
| About The Eastfield Group |
Cariboo Rose is part of The Eastfield Group, a family of companies with the same experienced management team. Other companies in The Eastfield Group include Wildrose Resources ("WRS" TSX-V) and Eastfield Resources ("ETF" TSX-V).
The Eastfield Group shares a team of experienced and knowledgeable geologists and finance professionals who have been in the business for many years and are respected throughout the industry.
William (Bill) Morton - President, CEO and Director
Mr. Morton has been employed as a professional geologist since graduation from university. Prior to starting Eastfield Resources, his previous employers included several major mining companies such as Giant Mascot, Sumitomo and Imperial Metals. In 1987 Mr. Morton merged his geological consulting practice with Mr. Garratt, and together they formed Eastfield Resources.
Glen Garratt - Vice President, Secretary and Director
Mr. Garratt has been employed as a professional geologist since graduation from university. His previous employers included several major mining companies such as Placer Dome, Amoco, and Norcen. In 1979 Mr. Garratt formed an exploration consulting firm and operated from offices in Reno, Nevada and Kamloops, B.C. In 1987 he merged his consulting practice with Mr. Morton, and together they formed Eastfield Resources.
Don Sharp - CFO and Director
Mr. Sharp qualified as a Chartered Accountant with Coopers & Lybrand in Vancouver. Mr. Sharp has 30 years of experience in mining and exploration company management, including eight years of field exploration. Previous associations with resource companies have included Whitehorse Copper, Alberta Energy, Queenstake Resources, Pass Lake Resources and Ecstall Mining.
Paul Way - Business Development Manager
Mr. Way has over 10 years experience as a Professional Engineer for several other public companies. He completed an MBA at UBC in 2006, specializing in finance. He recently joined the Eastfield Group.
Alan Scott - Director
Mr. Scott was employed as a geophysicist with Gulf Minerals, Cominco, and Anaconda prior to establishing his own geophysics company in 1985. He has been working as a Geophysicist in the field of mineral exploration since 1970. He is an independent director of Cariboo Rose Resources and serves on the Audit committee
Ed Kimura - Director
Mr. Kimura was the former Exploration Manager for Western Canada at Placer Dome. His responsibilities there included exploration and advanced exploration projects across Canada including Yukon, NWT and Nunavut. From 1997 to present, he has been a consulting geologist working mainly on projects in Canada. He is an independent director of Cariboo Rose Resources and chair of the Audit committee.
Mr. Paul Way
Business Development Manager
Toll Free: 1(888)-656-6611
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Corporate Office:
Address: Suite 110, 325 Howe Street, Vancouver, B.C., Canada V6C 1Z7
Telephone: (604) 681-7913
Fax: (604) 681-9855
Email: info@eastfieldgroup.com
Web site: www.cariboorose.com
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