VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 12, 2012) - CARIBOU KING RESOURCES LTD. ("Caribou" or the "Company") (TSX VENTURE:CKR)(FRANKFURT:CB8) announces that it is commencing a ground program on its 100% owned Tahts Reach property, adjoining Gold Reach Resources Ltd.'s ("Gold Reach") Ootsa Property on the northeast boundary, and near the Huckleberry Cu-Mo-Au Mine in central British Columbia.
The Tahts Reach claims cover 1,800 hectares and are situated on the northeast boundary of Gold Reach Resources' Ootsa Property, which includes the Ox deposit with a NI 43-101 compliant inferred mineral resource containing 16.1 million tonnes grading 0.3% copper and 0.04% molybdenum (see Gold Reach news release dated February 5, 2008). More recently, on its West Seel deposit, Gold Reach intersected 537 meters grading 0.65% copper equivalent including 128 meters grading 1.01% copper equivalent (see Gold Reach news release dated October 10th, 2012). The claims are also only 30 kilometers east of the Huckleberry Mine, which currently produces Cu, Au and Mo from a 16,000 tonne per day operation.
The work program will focus on reconnaissance mapping and sampling of the claims, which, based on historical reports, exhibits geology that is similar to that on the Ootsa Property to the west. Based on results, a winter drill program will be considered.
Yukon Claims
The Company has also determined to not proceed on its option for the Vault claims in the Yukon with Strategic Metals, Ltd.
Caribou Copper's mission is to identify, acquire, and advance high potential base and precious metal prospects.
ON BEHALF OF THE BOARD
Michael England, CEO and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Michael England
CEO and Director
1-604-683-3995 or Toll Free: 1-888-945-4770
604-683-3988 (FAX)