Cascadia Makes New Copper-Gold Porphyry Discovery with 116.60 m of 0.31% Copper and 0.30 g/t Gold at Catch Property, Yukon
Cascadia Makes New Copper-Gold Porphyry
Discovery with 116.60 m of 0.31% Copper and
0.30 g/t Gold at Catch Property, Yukon
VANCOUVER, BC
,
Nov. 16, 2023
/CNW/ - Cascadia Minerals Ltd. ("
Cascadia
") (TSXV: CAM) is
very pleased to provide results of the
first two diamond drill holes ever completed
at its 100%-
controlled flagship Catch Property in central
Yukon, Canada
, located 16 km from an all-season
highway and powerline within the traditional territory of the Little Salmon Carmacks First Nation. The
Catch Property hosts
multiple new greenfield discoveries of copper-gold porphyry
mineralization
within the northern extension of the prolific Stikine Terrane from BC's Golden
Triangle. A total of five holes were drilled at Catch in 2023, totalling
2,462 m
. This release contains
results from the first two holes (
1,066 m
), with results from the remaining three holes pending.
Diorite Zone Cross Section (CNW Group/Cascadia Minerals Ltd.)
Drilling Highlights
First diamond holes
ever drilled
at the Catch property
both yielded
significant copper-gold
mineralization, confirming a new copper-gold porphyry discovery
;
Hole CA-23-002 intersected
116.60 m
of 0.31% copper and 0.30 g/t gold
from
356.00 m
downhole, within a broader interval of
435.00 m
of 0.16% copper
and 0.09 g/t gold (Figures 1-
3);
Hole CA-23-001 intersected
45.83 m
of 0.30% copper and 0.15 g/t gold from surface
, within
a broader interval of
333.87 m
of 0.13% copper
(Figures 1-3);
These holes were drilled
160 m
apart, in the middle of
coincident 1,200 x
600 m
chargeability
and 800 x
600 m
magnetic anomalies
that are just beginning to be tested (Figures 1-3);
Drilling has
yet to intersect significant potassic alteration
, suggesting there is
potential to
discover higher copper and gold grades
in the untested core of the porphyry system;
Results are pending from
three additional diamond drill holes at the Main Zone
,
located 2
km north
of these drill holes (Figure 1); and
Cascadia invites shareholders and other interested parties to attend a
video webinar and
technical Q&A to be held
Friday, November 17
th
at
8:00 AM PT
/
11:00 AM ET
to learn
more about the significance of these results:
Register Here
.
"
To have made a significant copper-gold porphyry discovery in the first two holes ever drilled on a
project is incredibly rare. We can now focus on expanding known mineralization and exploring for
even higher-grade zones, whilst simultaneously testing numerous additional targets,"
said
Graham
Downs
, Cascadia's President and CEO. "
Our second hole returned over a hundred metres of
0.31% copper and 0.30 g/t gold, comparable to the resource grade of Newmont's operating Red
Chris open-pit mine in BC's Golden Triangle (Measured and Indicated open-pit grade of 0.34%
copper and 0.28 g/t gold
*
). We have clearly tapped into a large porphyry system and eagerly await
results from the remaining three holes that were drilled at the Main Zone, 2 km to the north
.
Cascadia is the first mover in the underexplored extension of the Stikine Terrane in
Yukon
, and we
will utilize Catch as a case study regionally to acquire additional land throughout this compelling
new porphyry district, as we prepare for an early 2024 drill program at Catch.
"
*Red Chris resource grades are referenced from Newcrest Mining Limited's (now Newmont
Corporation) press release dated
March 31
st
, 2021.
Figure 1 – Catch Drilling Overview Map
Figure 2 – Diorite Zone Drill Map
Figure 3 – Diorite Zone Section
Figure 4 – Catch Location & Infrastructure
Figure 5 – Stikine Terrane Map
Catch Property Drilling Summary
The first two diamond drill holes at the Catch Property were completed at the Diorite Zone. Hole CA-
23-001 ended at
511.83 m
depth and Hole CA-23-002 ended at
554.00 m
depth, with sulphide
mineralization (pyrite-pyrrhotite-chalcopyrite) observed to the end of both holes. Both holes were
targeting
a broad Induced Polarization ("IP") chargeability anomaly
at depth, underlying
coincident high-grade surface mineralization, within a pronounced magnetic anomaly. An additional
three holes were drilled at the Main Zone, located 2 km north, and results from these holes are
pending.
Table 1: 2023 Catch Assays Result Summary
Drill Hole
From (m)
To (m)
Interval (m)
*
Copper (%)
Gold (g/t)
CA -23-001
14.00
347.87
333.87
0.13
0.04
incl.
14.00
59.83
45.83
0.30
0.15
CA -23-002
80.00
515.00
435.00
0.16
0.09
incl.
356.00
472.60
116.60
0.31
0.30
and incl.
357.93
362.00
4.07
0.51
6.03
and incl.
407.00
472.60
65.60
0.40
0.13
* The reported intervals are drilled thicknesses and true widths are unknown.
Hole CA-23-001 targeted a high IP chargeability anomaly underlying an outcrop which returned
0.31% copper with 0.17 g/t gold over
12 m
from a hand trench. The hole encountered basalt, diorite
and gabbro host rocks. Copper and gold mineralization is associated with propylitic (chlorite-albite-
epidote-calcite) to sodic (albite-chlorite-pyrite) alteration of all host rock types that carry quartz-
carbonate ± pyrite-chalcopyrite veins and disseminated to blebby pyrite, pyrrhotite and chalcopyrite
(sulphides listed in decreasing order of abundance). The hole ended in anomalous copper grades,
with visual pyrrhotite and pyrite mineralization noted.
Hole CA-23-002 was collared
160 m
north of CA-23-001, targeting the same high IP chargeability
anomaly, underneath an outcrop which returned high-grade grab samples including 3.88% copper
with 30.00 g/t gold. The hole encountered similar rock types, alteration and mineralization to hole
001, in addition to localised quartz-feldspar porphyry dykes up to
17 m
in width, and an overall
increase in copper and gold grades. The hole ended in anomalous copper grades, with visual
pyrrhotite and pyrite mineralization noted.
Drilling has not yet intersected significant potassic alteration, suggesting there is potential to
discover higher copper and gold grades associated with the potassic core of the system. Additional
drilling will be required to vector towards this core. Both holes were drilled in the middle of a
coincident 1,200 x
600 m
high IP chargeability anomaly and 800 x
600 m
magnetic low anomaly.
These geophysical features have provided a valuable vector towards mineralization and remain open
in all directions.
Table 2: 2023 Catch Drill Hole Collars
**
Drill Hole
Easting (m)
Northing (m)
Azimuth (°)
Dip (°)
Depth (m)
CA-23-001
482,726
6,859,800
130.4
-60
511.83
CA-23-002
482,702
6,859,958
129.7
-65
554.00
** Easting and Northing are UTM co-ordinates in the NAD 83 datum, zone 8N. Azimuth is with respect to true north.
Soil sampling was also completed across the Catch property to evaluate newly staked areas, with a
total of 830 soil samples collected. Multiple anomalies were identified that will be followed-up with
prospecting and mapping next exploration season.
Property Geology and Mineralization
The 71 km
2
Catch Property is in central
Yukon, Canada
, 56 km southeast of the town of
Carmacks
(Figure 4), in an underexplored part of the Stikine Terrane – which extends from the Golden Triangle
in
British Columbia
into
Yukon
(Figure 5), where it is immediately adjacent to the 1,000+ km long,
deep seated, crustal scale strike-slip Teslin-Thibert fault. The Stikine Terrane is characterized by
Late Triassic to early Jurassic volcanic-plutonic arc complexes that are well-endowed with copper-
gold-molybdenum porphyries including the Red Chris, Schaft Creek, Kemess, KSM and Galore
Creek deposits and mines. The property is located wholly within the traditional territory of the Little
Salmon Carmacks First Nation.
The Catch area is mostly underlain by augite phyric basalt of the Semenof Formation, centered on a
7 x 3 km regional magnetic high. Mineralization is associated with propylitic to sodic alteration of
basalt and lesser diorite, intrusion-cemented and hydrothermal breccias. Locally there is intense
albitization, silicification, brecciation and up to 10% disseminated to blebby pyrite, chalcopyrite and
trace bornite and pyrrhotite. Secondary copper minerals including malachite, azurite and tenorite are
widespread at surface, coat fracture surfaces, and are often associated with gypsum.
The geology, alteration and mineralization observed throughout Catch are all indicative of a
significant copper-gold ± molybdenum bearing porphyry system.
Catch is under option from a
Yukon
prospector, and Cascadia can earn up to a 100% interest,
subject to a royalty. For more information, see the Catch Property Technical Report filed on
SEDAR+ at
www.sedarplus.ca
under the Cascadia Minerals Ltd. profile, or visit our website at
www.cascadiaminerals.com
for additional maps and figures.
About Cascadia
Cascadia is a Canadian junior mining company focused on exploring for copper and gold in
Yukon
and
British Columbia
. Cascadia's flagship Catch Property is a brand-new grassroots porphyry
discovery which 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 and initial drill
results returning broad intervals of mineralization, including
116.60 m
of 0.31% copper with 0.30 g/t
gold. In addition to Catch, Cascadia is conducting exploration work at its PIL Property in
British
Columbia
and the Sands of Time and Rosy properties in
Yukon
, as well as evaluating additional
regional opportunities. Cascadia has approximately 37 million shares outstanding and its largest
shareholders are Hecla Mining Company (19.8%) and
Barrick Gold
(7.6%).
QA/QC
Analytical work for samples was completed by ALS Canada Ltd, with sample preparation in
Whitehorse
,
Yukon
and
Langley, BC
, and geochemical analyses in
North Vancouver, BC
. Core
samples were fine crushed before a 250-gram split was pulverized to better than 85% passing 75
microns. Gold was determined for core samples by the PGM-ICP24 procedure which involves fire
assay preparation using a 50-gram charge with an inductively coupled plasma-atomic emission
spectroscopy finish ("ICP-AES"). Soil samples were dry-screened at 180 micron, with analysis
conducted on the fine fraction. Gold was determined for soil samples by the Au-ICP21 method,
which involves fire assay preparation with a 30-gram charge followed by an ICP-AES finish. Multi-
element data for 48 elements was determined for all samples by the ME-MS61 procedure, which
involves a four-acid digestion followed by ICP-AES and inductively coupled plasma-mass
spectrometry.
Rigorous procedures are in place regarding sample collection, chain of custody and data entry.
Certified assay standards, duplicate samples and blanks are routinely inserted into the sample
stream of diamond drill samples to ensure integrity of the assay process. All diamond drill samples
included in this news release have passed the QA/QC procedures as described above. All assay
intervals presented in this news release are uncut. Core was sampled using a diamond saw, with
half of each interval sent to the lab for analysis, and the other half retained.
Results referenced in this release represent highlight results only. Below detection values for gold
and copper have been encountered in drilling, rock and soil samples in these target areas.
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:
Andrew Carne, M.Eng., P.Eng., VP Corporate Development, Cascadia
Minerals Ltd., T: 604-688-0111 ext. 106, [email protected]
CO: Cascadia Minerals Ltd.
CNW 08:00e 16-NOV-23