Cascadia Provides Project Update and Announces 2024 Drilling Plans, Catch Property, Yukon
Cascadia Provides Project Update and
Announces 2024 Drilling Plans, Catch
Property, Yukon
VANCOUVER, BC
,
Jan. 4, 2024
/CNW/ - Cascadia Minerals Ltd. ("
Cascadia
") (TSXV: CAM) is
pleased to provide a project update and final diamond drilling results from the 2023 exploration
campaign at its 100%-controlled flagship Catch Property in central
Yukon, Canada
, located 10 km
from an all-season highway and powerline within the traditional territory of the Little Salmon
Carmacks First Nation. Given the successful results of the inaugural 2023 diamond drill campaign,
Cascadia has staked additional contiguous claims and initiated planning for a spring 2024 follow-up
drill program.
Catch Drilling Area (CNW Group/Cascadia Minerals Ltd.)
Catch Exploration Summary
2023 inaugural diamond drilling resulted in a copper-gold porphyry discovery at the
Diorite Zone
with Hole CA-23-002 intersecting
116.60 m
of 0.31% copper and 0.30 g/t gold
(see
November 16
news release for details);
Drilling at the Main Zone (holes CA-23-003 to -005), located 2 km north of the Diorite Zone,
intersected high-level porphyry alteration and anomalous copper-gold values, but has not yet
identified the source of extensive copper-gold mineralization in a localized landslide;
Additional 227 contiguous claims recently staked to cover additional prospective ground,
expanding the Catch property to
117 km
2
in size
;
Drilling has
yet to intersect significant potassic alteration
, suggesting there is
potential to
discover higher copper and gold grades
in untested areas in the core of the porphyry
systems;
Planning is underway for an
early 2024 follow-up diamond drill program
;
Systematic property-wide soil sampling has identified
numerous additional copper anomalies
across the property
, as far as 10 km away from the Diorite Zone; and
Cascadia will be
showcasing Catch core
at the upcoming
Vancouver Resource Investment Conference
(
Jan 21-22
) and
AME Roundup
(
Jan 22-25
)
in
Vancouver
"Following our successful 2023 exploration season we are eager to follow-up with an expanded
program in 2024. We have already made a significant copper-gold discovery at the Diorite Zone
(116.60 m of 0.31% copper and 0.30 g/t gold) and continue to be confident in the potential of the
Main Zone due to the abundance of mineralization, and high-level alteration signatures in drill
core,"
said
Graham Downs
, Cascadia's President and CEO.
"Our team is excited to commence the
2024 Diorite Zone expansion drill program and to continue exploring numerous untested targets
throughout the recently enlarged property. Cascadia is very well positioned to provide significant
shareholder value with continued 2024 exploration success. As a brand-new company with a
meaningful new discovery, we look forward to getting the Cascadia story out to a broader audience
in 2024."
Figure 1 – Catch Drilling Overview Map
Figure 2 – Diorite Zone A-A' IP Section
Figure 3 – Diorite Zone B-B' IP Section
Figure 4 – Main Zone C-C' IP Section
Figure 5 – Catch Deposit Model
Catch Property 2024 Exploration Plans
With the success of the 2023 inaugural diamond drill program and strong evidence for an extensive
mineralizing system, Cascadia staked an additional 227 claims in the late fall, expanding the Catch
Property by 46 km
2
to a
total of 117 km
2
. Planning work is underway for a follow-up drilling
program to commence in spring 2024. If snowfall conditions are favourable, work is targeted to
begin in late April or early May.
Preliminary plans call for a minimum of
5,000 m
of diamond drilling
at Catch in 2024. The first
priority will be to drill follow-up holes at the Diorite Zone, building on discovery hole CA-23-002,
which intersected
116.60 m
of 0.31% copper and 0.30 g/t gold.
As this hole intersected significant
grades in higher-level sodic and propylitic alteration, 2024 drilling will target significant step-outs both
laterally and at depth, in areas with strong geophysical anomalies (Figures 2-3), vectoring towards
the potassic core of the system (Figure 5).
Drilling in 2023 at the Diorite Zone was completed on only the western-most IP section line, where
numerous outcrops returned strong copper grades coincident with a chargeability anomaly at depth
(Figure 2). A significantly broader and stronger IP anomaly is located
300 m
east (Figure 3), in an
area with limited outcrop exposure. The diamond drill was over-wintered on an un-drilled pad in the
middle of this eastern IP section, and 2024 work will commence with several deep holes in this area,
as well as under-cuts of the 2023 drill holes.
Exploration will also continue at the Main Zone to better characterize the tenure of mineralization and
locate the bedrock source, in order to guide follow-up drilling. Additional IP data will be collected
between the Diorite and Main zones in an area where outcropping copper and gold mineralization
was identified in 2023 (Figure 1). Prospecting, mapping and soil sampling will also be conducted
throughout the expanded property to follow-up on newly identified anomalies and identify additional
targets.
Catch Property 2023 Exploration Overview
The inaugural diamond drilling program at the Catch Property was completed in 2023. A total of 5
holes were drilled, totalling
2,461.83 m
. The first two holes were drilled at the Diorite Zone
(
1,065.83 m
), and the remaining three were drilled at the Main Zone (
1,396.00 m
). All drill holes
targeted broad IP chargeability anomalies at depth, underlying coincident high-grade surface
mineralization.
Drilling at the Main Zone was complicated by the presence of a small, localized
landslide
at surface
, which has remobilized up to the top
100 m
of rock by up to
300 m
laterally.
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
CA-23-003
**
205.64
209.00
3.36
0.15
0.05
and
226.53
228.00
1.47
0.12
0.04
and
274.00
275.00
1.00
0.16
0.29
CA-23-004
**
382.00
385.00
3.00
0.01
2.66
CA-23-005
**
No Significant Results
* The reported intervals are drilled thicknesses and true widths are unknown.
** Newly reported holes in this release.
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 at the Diorite Zone 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
(Figure 5). 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 multiple directions.
Holes CA-23-003 to -005 at the Main Zone intersected broad zones of propylitic alteration
throughout, as well as evidence of major structures. Hole CA-23-003 encountered the highest
abundance of veining and sulphides, with the most anomalous copper-gold response of the three
holes drilled in this area. This hole encountered several faults which returned elevated copper,
including 0.16% copper and 0.29 g/t gold over
1.00 m
from
274.00 m
, 0.15% copper over
3.36 m
from
205.65 m
, and 0.12% copper over
1.47 m
from
226.53 m
, suggesting mineralization may be
leaking upwards from a source located at depth. CA-23-003 was located furthest upslope in the
landslide area, indicating the source of surface mineralization may be further upslope than
anticipated. The IP chargeability response at the Main Zone (Figure 4) was largely explained by
zones of pyrrhotite and pyrite mineralization, and several structures. It is likely that the main
porphyry target lies below the depth of the current IP survey.
Table 2: 2023 Catch Drill Hole Collars
***
Drill Hole
Zone
Easting
(m)
Northing
(m)
Elevation
(m)
Azimuth
(°)
Dip
(°)
Depth
(m)
CA-23-001
Diorite
482,726
6,859,800
735
130
-60
511.83
CA-23-002
Diorite
482,702
6,859,958
772
130
-65
554.00
CA-23-003
Main
482,848
6,861,850
1,034
040
-60
440.00
CA-23-004
Main
482,845
6,861,848
1,030
200
-75
478.00
CA-23-005
Main
482,518
6,861,580
900
040
-60
478.00
*** Easting and Northing are UTM co-ordinates in the NAD 83 datum, zone 8N. Azimuth is with respect to true north.
Property Geology and Mineralization
The 117 km
2
Catch Property is located in central
Yukon, Canada
, 56 km southeast of the town of
Carmacks
, in an underexplored part of the Stikine Terrane – which extends from the Golden Triangle
in
British Columbia
into
Yukon
, 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 (19.6%) and
Barrick Gold
(7.5%).
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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%SEDAR: 00014472E
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 04-JAN-24