Cascadia Minerals Ltd. Discontinues PIL and Sands of Time Options
Cascadia Minerals Ltd. Discontinues PIL and
Sands of Time Options
VANCOUVER, BC
,
Dec. 31, 2024
/CNW/ - Cascadia Minerals Ltd. ("
Cascadia
") (TSXV: CAM)
(OTCQB: CAMNF) announces that it has decided not to continue its PIL and Sands of Time
Property options.
Work at the PIL Property in BC included property-wide prospecting, geophysics and drill testing the
PIL South target at depth. While several interesting anomalies were identified by this work, the PIL
South drilling did not encounter significant copper-gold mineralization, and Cascadia does not feel
there is a viable target to justify the 2025 work expenditure requirements.
The Sands of Time property hosts large molybdenum-in-soil anomalies, with smaller coincident
zones of elevated copper-in-soil, which could be representative of a porphyry with a copper-
depleted leached cap. Identifying coincident gold-in-soil was an important goal for Cascadia in 2024
and unfortunately, soil sampling returned only subdued gold values and suggests there is not a gold
bearing porphyry at surface.
"We are proud of the work we completed to efficiently and cost-effectively assess these projects
under option, however at this time neither project meets the corporate objectives of Cascadia,"
said
Cascadia's President & CEO,
Graham Downs
.
"With our recently completed financing, we will
focus work in 2025 on continuing to explore our flagship Catch property, where drilling has
discovered a brand-new copper-gold porphyry
,
and a new high-grade epithermal gold-silver
outcrop has yet to be drill tested. Work will also continue to advance our 100%-owned Mack's
Copper and Milner properties, which have similar geological potential to Catch. We look forward to
providing more details about our 2025 exploration plans early in the new year."
About Cascadia
Cascadia is a Canadian junior mining company focused on making new copper and gold discoveries
the
Yukon
and
British Columbia
. Cascadia's flagship Catch Property in the
Yukon
hosts a brand-new
copper-gold porphyry discovery where inaugural drill results returned broad intervals of
mineralization, including
116.60 m
of 0.31% copper with 0.30 g/t gold. Catch exhibits extensive high-
grade copper and gold mineralization across a 5 km long trend, with rock samples returning peak
values of 3.88% copper and 30.00 g/t gold.
In addition to Catch, Cascadia is conducting exploration work at its Mack's Copper and Milner
properties – recently staked Catch analogues within
Yukon's
Stikine Terrane which have additional
copper porphyry targets. Cascadia has approximately 70 million shares outstanding and its largest
shareholders are Hecla Mining Company,
Michael Gentile
and
Barrick Gold
.
The technical information in this news release has been approved by
Adam Coulter
, M.Sc., P.Geo.,
VP Exploration for Cascadia and a qualified person for the purposes of National Instrument 43-101.
On behalf of Cascadia Minerals Ltd.
Graham Downs
, President and CEO
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 NEWS RELEASE.
Cautionary note regarding forward-looking statements:
This press release may contain "forward-looking information" within the meaning of applicable
securities laws. Readers are cautioned to not place undue reliance on forward-looking
information. Actual results and developments may differ materially from those contemplated by
these statements. The statements in this press release are made as of the date of this press
release. The Company undertakes no obligation to update forward-looking information, except as
required by securities laws.
SOURCE
Cascadia Minerals Ltd.
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For further information:
For further information, please contact: Andrew Carne, M.Eng., P.Eng.,
VP Corporate Development, Cascadia Minerals Ltd., T: 604-688-0111 ext. 106,
CO: Cascadia Minerals Ltd.
CNW 08:00e 31-DEC-24