Cascadia Provides Drilling Update for its Catch Copper-Gold Porphyry Project, Yukon
Cascadia Provides Drilling Update for its
Catch Copper-Gold Porphyry Project, Yukon
VANCOUVER, BC
,
May 30, 2024
/CNW/ - Cascadia Minerals Ltd. ("
Cascadia
") (TSXV: CAM)
(OTCQB: CAMNF) is pleased to provide an update on the ongoing diamond drill program at its
Catch Property. The Catch Property hosts one of
North America's
newest copper-gold porphyry
discoveries, with extensive mineralization at surface. The property is located in central
Yukon
, only
10 km from a paved all-season highway and powerline, within an extension of the Stikine terrane – a
key geological setting which extends from the Golden Triangle in
British Columbia
to
Yukon
. The
Catch Property has never been historically explored, with Cascadia conducting the first-ever
diamond drill program in fall 2023, which resulted in the discovery of the Spark Zone.
Hole CA-24-006 Section (CNW Group/Cascadia Minerals Ltd.)
Spark Zone Diamond Drilling Highlights:
The first 2024 diamond drill hole (CA-24-006)
stepped out
315 m
from 2023 discovery hole
CA-23-002 and
intersected
140 m
of pyrite-chalcopyrite mineralization
(Figure 1);
Mineralization in CA-24-006
contains greater sulphide abundance (pyrite-chalcopyrite)
than observed in hole CA-23-002
, which returned
116.60 m
of 0.31% copper with 0.30 g/t
gold;
CA-24-006 intersected zones of
potassic alteration
associated with
disseminated
(Figure 2)
and vein hosted chalcopyrite-pyrite
(Figure 3);
Hole CA-24-006 targeted a coincident Induced Polarization ("IP") chargeability and resistivity
high within a larger and
open-ended 1.4 km long IP chargeability anomaly
(Figure 4);
The second 2024 drill hole (CA-24-007) is now underway, testing a
similar IP chargeability
and resistivity high
150 m
north of CA-23-002
(Figure 5); and,
Planning is underway to
extend the 2024 drill program to step out on CA-24-006
.
"We are very excited to have hit additional mineralization on such a large step-out from last year's
discovery at the Spark Zone. The amount of observed sulphide minerals, coupled with the
favourable alteration we are now seeing, clearly demonstrates that this is a large mineral system
with significant copper-gold potential. Mineralization at Catch is suggestive of an Alkalic Porphyry,
similar in nature to the Red Chris mine in Northern BC and the Cadia-Ridgeway system in
Western
Australia
,"
said
Graham Downs
, Cascadia's President and CEO.
"Our crews are working to quickly
process this core and get assays underway as soon as possible, with several batches of core
already at the lab. In the meantime, drilling continues at the Spark Zone, where extensive
geophysical anomalies remain open in all directions. It is critical to remember that this is only the
third drill hole ever completed at this kilometer-scale target, with both holes last year returning
significant mineralization. We see great potential at Catch and are evaluating options to extend the
drilling program to complete additional step-out holes."
Figure 1 – Spark Zone Drill Map
Figure 2 – Disseminated Mineralization Core Photos
Figure 3 – Vein-Hosted Mineralization Core Photos
Figure 4 – Spark Zone IP Section B-B'
Figure 5 – Spark Zone IP Section A-A'
Cascadia cautions that visual estimates of mineral abundance should never be considered a proxy or
substitute for laboratory analyses where concentrations or grades are the factor of principal
economic interest. Laboratory assays are required to determine the presence and grade of any
contained mineralization within the reported visual intersections of copper sulphides. The company
will update the market as soon as laboratory analytical results become available.
2024
Diamond Drilling
Diamond drilling is underway at the Spark Zone where 2023 diamond drill hole CA-23-002
intersected
116.60 m
of 0.31% copper with 0.30 g/t gold. The first 2024 diamond drill hole, CA-24-
006, ended at
570 m
and the second drill hole (CA-24-007) is underway. The Spark Zone is defined
by a 700 x
700 m
magnetic low coincident with a 1,400 x
600 m
IP chargeability high and rock
samples returning up to 3.88% copper with 30.0 g/t gold at surface within a large copper in soil
anomaly.
CA-24-006 was collared
315 m
southeast of hole CA-23-002 (figure 1), targeting a stronger and
broader portion of the IP chargeability anomaly (figure 4), coincident with a zone of high resistivity.
The hole encountered a variety of host rock types including quartz-feldspar porphyry, diorite, diorite
porphyry, basalt and gabbro. The top
290 m
of the hole displayed broad propylitic alteration
(chlorite-epidote-pyrite ± hematite) of dominantly basalt and diorite with a clear increase in intensity
with depth. A
140 m
zone of sericitic (quartz-sericite-pyrite) to potassic alteration (biotite) with
disseminated to vein hosted pyrite-chalcopyrite mineralization was encountered from 290 to
430 m
in
all host rock types. Strong propylitic alteration was observed again from 430 to
550 m
dominantly
within gabbro before encountering a large fault towards end of hole.
There is a pervasive late-stage chlorite overprint on the mineralization making identification of
primary alteration difficult. In addition, structural deformation deforms the mineralization; likely from
the nearby 1,000+ km long Teslin-Thibert fault. Further petrographic studies will be undertaken in the
coming months to validate initial geology and alteration logs.
Hole CA-24-007 is collared off the same drill pad as CA-23-002 and will fan eastward and step out
150 m
on the known copper-gold mineralization at depth. This hole will test the projected extension
of mineralization from hole CA-23-002 towards an area of high IP chargeability and stronger
resistivity (figure 5), which may represent potassic alteration.
For additional CA-24-006 core photos and information on the Catch property, please visit Cascadia's
website at
https://cascadiaminerals.com/projects/catch-yt/
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 – as well as the Sands
of Time property in the
Yukon
and the PIL Property in
British Columbia
, all of which have additional
copper porphyry targets. Cascadia has approximately 45 million shares outstanding and its largest
shareholders are Hecla Mining Company and
Barrick Gold
.
QA/QC
Analytical work for 2023 samples was completed by ALS Canada Ltd, with sample preparation in
Whitehorse
,
Yukon
and geochemical analyses in
North Vancouver, BC
. Rock and core samples
were fine crushed before a 250-gram split was pulverized to better than 85% passing 75 microns.
Gold was determined for rock 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 and silt 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. Overlimit values for copper were determined by the ME-OG62 procedure, which
involves a four-acid digestion followed by ICP-AES analysis.
Results referenced in this release represent highlight results only. Below detection values for copper
and gold have been encountered in core, silt, 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 07:00e 30-MAY-24