Cariboo Rose Resources Ltd. has been advised by Basin Uranium Corp., who are earning an interest in the Carbonate Hosted Gold Project ("CHG"), that diamond drilling is expected to start before the end of the month. In 2021 a VTEM airborne geophysical survey was completed by Geotech Airborne Surveys over the Carbonate Hosted Gold (CHG) claim block located near the community of Clinton, BC and identified a number of resistivity and magnetic anomalies near the topographical high end of three silt alluvial dispersion trains. An initial test of some of these conductors was attempted in March 2023 using reverse circulation techniques.

This drilling was unsuccessful owing to the inability of the reverse circulation drill to penetrate the overburden with all seven holes abandoned in till at depths ranging from 43 to 64 meters. The current drill program will again target these same anomalies using a diamond drill provided by Paradigm drilling of Kamloops, BC., It is anticipated, subject to costs incurred, that 500 to 600 meters will be drilled. CHG is located in southern BC in a semiarid setting on the east slope of the Marble Range.

A key contributor to the geological concept of CHG is the permissiveness of gold mineralization to carbonate rocks (silty sediments and limestone) as demonstrated by the Muddy Lake deposit in northern BC, the Rackla gold project in the Yukon Territory and the numerous gold deposits in Nevada. Since initiating exploration in 2013 Cariboo Rose has targeted three small drainages sourcing in the Marble Range (limestone dominant) that returned highly anomalous gold analysis in silt with numerous samples returning values ranging from 100 ppb to 929 ppb gold in silt and to greater than 10,000 ppb gold in sluiced silt. These east-flowing drainages source from an area approximately 8 kilometers wide.