Cascada Commences Mina Gaunaca Phase 1 Drill Program
Cascada Silver Corp., 401 Bay Street, Suite 2702, Toronto, Ontario, M5H 2Y4
Cascada Commences Mina Gaunaca Phase 1 Drill Program
Toronto, Ontario, August 28 , 2024 – Cascada Silver Corp. (CSE:CSS) ("Cascada") is
pleased to announce th at drilling has commenced at its Mina Guanaca Copper Property
(“Mina Guanaca”) located 110 kilometres northeast of the City of Copiapó, Region III, Chil e.
Cascada has an option to earn a 100% interest in Mina Guanaca.
“We are excited to get the drill turning at Mina Guanaca,” said Carl Hansen, CEO of Cascada.
“The primary objective of the 1,200-metre, Phase 1 reverse circulation drill program is to test
the down dip extension of the extensive copper oxide mineralization exposed in the Mina
Guanaca open pit . The program will also test an induced polarization chargeability low ,
located 200 to 300 metres beneath the open pit , which may be associated with copper
porphyry mineralization. Three drill holes ranging from 250 to 300 meters have been planned
with additional holes to be collared based upon visual results from the initial drilling. Assays
from the Phase 1 program should be available during October 2024.”
Three limited historical drill programs (1,550 metres) have been reported from Mina Guanaca
with the majority of the drilling completed in the immediate area of the open pit. Highlights
from the historical drilling include:
• 82 metres grading 0.91% total Cu, 0.67% soluble Cu (hole SE1, Empresa Nacional
de Mineria, 1994);
• 41 metres grading 2.3% total Cu (hole ST2, C.M. San Andrés C.M., 1995); and
• 56 metres grading 0.82% total Cu, 0.64% soluble Cu (hole GR5, Sociedad Legal
Minera Guanaca Una de Sierra Vicuña, 2020).
Further details of results from the historical Mina Guanaca exploration programs can be found
in Cascada’s June 8, 2023 press release.
Historical Results Note: Cascada has not undertaken any independent investigation of results
from historical exploration programs including assay results from historical drilling. The reader
is cautioned upon relying on the accuracy of the historical resul ts presented; however,
Cascada considers the historical assay results relevant as it will use the results as a guide to
plan future exploration programs and considers the data to be reliable for these purposes.
Cascada has an option to earn a 100% interest in Mina Guanaca by making payments of
US$5,015,000 over 4 years and complet ing a minimum of 1,250 metres of drilling annually
over the option period. In addition, upon completion of the above noted obligations, the
Vendor will receive a 2.5% net smelter royalty of which half (1.25%) can be repurchased for
US$2,250,000 one year from the start of commercial production
As announced on July 2, 2024, Research Capital Corporation (“RCC”) was engaged as a
financial advisor to provide general capital markets services, including strategic corporate
planning, market intelligence, and general advisory services. In consideration for the services
provided, the Canadian Securities Exchange has approved the issuance of 6,000,000 CSS
common shares to RRC, to be issued in equal monthly installments over the course of the
six-month engagement through December 2024. The common shares issued will be subject
to a statutory restriction period of four months and one day from their respective date of issue.
2
NI 43-101 Technical Disclosure
The Qualified Person, as defined by National Instrument 43 -101 of the Canadian Securities
Administrators, for Cascada’s exploration activities in Chile is Sergio Diaz, a resident of
Santiago, Chile. Mr. Diaz is a Public Registered Person for Reserves and Resources N° 51,
in Chile and is also registered in the Colegio de Geólogos de Chile under N° 315.
About Cascada Silver Corp.
Cascada is a mineral exploration company focused on exploration opportunities in
Chile. Cascada’s team of successful exploration professionals are dedicated to the discovery
of mineral deposits that can be progressed into economically viable development pr ojects
creating value for all stakeholders.
On behalf of Cascada Silver Corp.,
Carl Hansen, CEO
Phone: 416-907-9969
For additional information, please contact us at: [email protected]
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward -looking statements, including predictions, projections and forecasts.
Forward-looking statements include, but are not limited to: plans for the evaluation of exploration properties;
the success of evaluation plans; the su ccess of exploration activities; mine development prospects; and,
potential for future metals production. Often, but not always, forward -looking statements can be identified
by the use of words such as "plans", "planning", "expects" or "does not expect", " continues", "scheduled",
"estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or
variation of such words and phrases or state that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and
other factors which may cause the actual results, performance or achievements to be materially different
from any future results, prediction, projection, forecast, performance or achievements expressed or implied
by the forward-looking statements. Such factors include, among others: changes in economic parameters
and assumptions; all aspects related to the timing of exploration activities and receipt of exploration results;
the interpretation and actual results of current exploration activities; changes in project parameters as plans
continue to be refined; the results of regulatory and permitting processes; future metals price; possible
variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour
disputes and other risks of the mining industry; the results of economic and technical studies; delays in
obtaining governmental approvals or financing or in the completion of exploration; as well as those factors
disclosed in Cascada's publicly filed documents.
Although Cascada has attempted to identify important factors that could cause actual actions, events or
results to differ materially from those described in forward -looking statements, there may be other factors
that cause actions, events or results not to be as anticipated, estimated or intended. There can be no
assurance that forward -looking statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers shou ld not place
undue reliance on forward-looking statements.
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or
accepts responsibility for the adequacy or accuracy of the content of this news release.