The Road
To Riches The Canadian government just announced a major infrastructure plan to help tap the Yukon’s vast mineral wealth.
It’s a move that could turbo-charge the value of all the key companies in the area, especially Cariboo Rose Resources (CRB.V). Dear John, Believe it or not, every now and then government does something right.
Such was the case recently, when Canadian Prime Minister Justin Trudeau and Yukon Premier Sandy Silver announced a combined C$360 million in funding to improve road access in two of the territory’s most mineral-rich areas.
One of those areas is the Dawson Range, home to the White Gold district that tiny Underworld Resources put on the map a few years back with the discovery of 1.5 million ounces of near-surface gold. As you’ll see, it’s also home to one of the more exciting exploration plays around today. The joint infrastructure plan will upgrade four separate road systems in the Dawson Range, including the complete upgrading of 82 kilometers of existing access road for the Casino copper-gold-moly project and another 30% toward funding of the 126 kilometers of access road for the project itself.
But with a resource well-established at Casino, how does the savvy resource investor maximize leverage on this instance of government largesse?
Well, as it happens, tiny Cariboo Rose Resources’ 100%-owned Canadian Creek project sits due west of Casino.
More important: Canadian Creek has been proven to host gold mineralization similar to both the massive Casino deposit and to the multi-million-ounce Coffee gold deposit to the north. An Enviable Address Indeed, Canadian Creek is ideally situated to host the White Gold district’s next big discovery. It shares a 12-kilometer property boundary with Goldcorp’s Coffee and a 6-kilometer boundary with Casino.
And that’s not all by any means. Consider these facts: • Drilling allowed the aforementioned Underworld Resources to prove up a resource that Kinross Gold eventually snapped up. Early investors in Underworld watched its share price rocket from a few pennies to an eventual C$2.62 at the time of the transaction.
• A few years later, Kaminak Gold turned the Coffee project into a five-million-ounce deposit and attracted the attention of Goldcorp in the process. With a takeout price of C$520 million, Goldcorp’s acquisition of Kaminak also made fortunes for early investors.
• Finally, the Casino deposit that lies just to Canadian Creek’s east hosts an amazing 17.9 million ounces of gold and 9.9 billion pounds of copper. Combine these facts with the just-announced infrastructure investment in the area, and you have a scenario where Cariboo Rose and Canadian Creek are set up perfectly to potentially become the district’s next takeout targets. Early Excitement At Canadian Creek The company’s 2017 field program at Canadian Creek outlined multiple zones of high-grade gold, with rubble samples grading as high as 9.14 g/t gold (0.27 oz/ton) and more than 1,000 g/t silver (29.17 oz/ton)!
The zones outlined look similar to the gold mineralization that hosts Coffee’s five million ounces to the north.
In all, Cariboo Rose spent C$1 million exploring the east-west striking precious metals trend on the northern end of Canadian Creek. The project also contains possible continuations of the mineralization from the polymetallic deposit at Casino.
For now, though, the focus is on the property’s precious metal potential. To that end, the company drilled 24 reverse circulation drill holes on a number of exciting targets on its property.
With an established resource in Coffee located immediately to the north, it won’t take much more than a whiff of similar grades and widths from this effort to propel Cariboo Rose’s share price higher. A Strong Project Pipeline And no matter what the assays reveal, the company’s valuation is buttressed by an extensive pipeline of projects elsewhere, in British Columbia. Here are some highlights: • Carruthers Pass (100% owned): Home to potential volcanic massive sulphide (VMS) hosted deposits — including a target that extends for 6 kilometers!
• Pat (100% owned): Located near Horsefly, B.C., this project hosts a 3-kilometer-by-3-kilometer aeromagnetic anomaly similar to the one that helped identify the Mt. Polley Mine (2016 production: 25.3 million pounds of copper, 46,444 ounces of gold and 90,125 ounces of silver).
• CHG (100% owned): This project, lies near Clinton, B.C. and hosts a carbonate hosted gold target similar to that found within Nevada’s Carlin Trend, land of elephant-sized gold deposits.
• Cowtail: Owned 35% by Cariboo Rose and 65% by JV-partner Dajin, Cowtail is another project with geophysical characteristics similar to the Mt. Polley Mine.
• Koster Dam (100% owned): Optioned to Oakley Ventures Inc., who may earn a 50% interest in this project by matching prior expenditures before July 31, 2018, and a further 50% before Aug 20, 2018 for payment of $400,000 cash. Epithermal gold targets in this project are located 8 kilometers northwest of the former producing Blackdome gold-silver mine. With a flagship project in Canadian Creek and this strong pipeline of projects in B.C., Cariboo Resources controls a portfolio that’s perfectly suited for growth through discovery. Timing Is Everything On top of a having a great suite of projects, Cariboo Rose also boasts a relatively tight share structure. Given the recent history of the White Gold district, stellar results from this year’s round of drilling at Canadian Creek could serve as jet fuel for the company’s share price. Best of all, there’s still time to build a position in Cariboo Rose Resources (CRB.V) in advance of the release of the assays from this program.
Time is short, though, as results are expected soon. The road to riches may well run through Cariboo’s Canadian Creek project. Click here to learn more… | 