Cascadia Samples 1,065 g/t Gold and 267 g/t Silver in Outcrop at the Amp Epithermal Zone, Catch Property, Yukon
Cascadia Samples 1,065 g/t Gold and 267 g/t
Silver in Outcrop at the Amp Epithermal Zone,
Catch Property, Yukon
VANCOUVER, BC
,
July 25, 2024
/CNW/ - Cascadia Minerals Ltd. ("
Cascadia
") (TSXV: CAM)
(OTCQB: CAMNF) is pleased to announce prospecting results from the Phase 1 exploration
program at the Catch Property in
Yukon
. A Phase 2 exploration program is currently underway at
Catch, with additional prospecting, mapping, diamond drilling and Induced Polarization ("IP") surveys.
Catch Magnetics and Amp Zone (CNW Group/Cascadia Minerals Ltd.)
Catch Prospecting Highlights
Prospecting at the Amp Zone, located 1 km north of the recently released drilling at the Spark
Zone, returned
the highest gold and silver grades
on the project to-date
, including a 0.9 kg
outcrop sample which returned
1,065 g/t gold and 267 g/t silver
(Figures 1, 2);
A
second sample
from a different portion of the same outcrop returned
47.2 g/t gold and 19.3
g/t silver
in a 1.4 kg sample (Figure 3);
The mineralization is associated with
strong silicification, abundant pyrite and quartz-
calcite veins
and provides evidence of a large and
fully preserved epithermal target
associated with the nearby porphyry system
;
An expanded IP survey is scheduled to commence shortly, which will extend coverage over the
Amp Zone to aid in future diamond drill targeting; and
Prospecting crews are on-site to conduct follow-up work at the Amp Zone and elsewhere on the
property.
"
The discovery of such high-grade epithermal gold mineralization over 1 km north of a new drill-
confirmed porphyry discovery is a significant development for us. Epithermal gold-silver
mineralization is often associated with porphyry systems but not always preserved. The Amp Zone
represents another distinct target on this district-scale property,
" stated Cascadia's president and
CEO,
Graham Downs
. "
I would like to commend and congratulate our team for their hard work and
determination in making new prospecting discoveries across the 119 km
2
property, with much of it
still awaiting systematic evaluation. Crews are excited to be back at Catch and will be continuing to
follow up on the Amp Zone and other targets while drilling is underway at Spark. In addition to our
ongoing drill programs at Catch and PIL, soil sampling and prospecting is now underway at the
Sands of Time, Macks Copper, and Milner properties, which all have early-stage copper-gold
porphyry potential
."
Figure 1 – Catch Magnetic Intensity
Figure 2 – Amp Zone Rock Photo 1
Figure 3 – Amp Zone Rock Photo 2
Amp Zone Prospecting Results
The 2024 Phase 1 exploration program at Catch comprised prospecting, mapping, and diamond
drilling. Three diamond drill holes totaling 1,613 meters were drilled at the Spark Zone (see news
release dated
July 22, 2024
), and a total of 89 rock samples were collected.
Follow up prospecting focused on the Amp Zone, which was discovered late in the 2023 field
season. The Amp Zone is located between the Spark and Volt Zones, approximately 1 km north of
this season's diamond drilling at Spark, within a broad 5 km long copper-in-soil anomaly (Figure 1).
In 2023, prospecting samples at Amp returned
0.21% copper with 4.82 g/t gold
from outcrop.
Follow up work in 2024 at the same outcrop returned
1,065 g/t gold with 267 g/t silver
(0.9 kg
sample) and
47.2 g/t gold with 19.3 g/t silver
(1.4 kg sample). The gold-silver mineralization is
hosted within a highly silicified basalt with up to 10% pyrite and is associated with elevated arsenic
and antimony geochemistry, suggesting it is epithermal in nature.
The Amp Zone also exhibits significant copper mineralization in rock samples, with a 2023 subcrop
sample
60 m
northwest of the high-grade gold-silver outcrop returning
1.68% copper with 0.72 g/t
gold
and another 2023 sample returning
2.13% copper
in outcrop. There are 16 rock samples at
the Amp Zone that have returned over 0.10% copper and are associated with feldspar porphyry
dykes and propylitic altered basalt. Samples to date are suggestive of the potential for both copper-
gold porphyry at depth and epithermal gold-silver mineralization at surface at the Amp Zone.
Previous Induced Polarization ("IP") geophysical surveys were focused on the Spark and Volt Zones,
and did not provide coverage at the Amp Zone. This IP grid will be extended to cover the Amp Zone
during the ongoing 2024 Phase 2 exploration program.
Diamond drilling is underway at the Spark Zone, see news release dated
July 22, 2024
for details.
Catch Property Geology and Mineralization
The 119 km
2
Catch Property is located in central
Yukon
, 50 km southeast of the town of
Carmacks
,
within the traditional territory of the Little Salmon Carmacks First Nation, in an underexplored part of
the Stikine terrane – a key geological terrane which extends from the Golden Triangle in
British
Columbia
into
Yukon
. 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.
Catch is mostly underlain by augite phyric basalt of the Semenof Formation, centered on a 7 x 3 km
regional magnetic high. Copper gold porphyry mineralization is associated with potassic to sericitic
alteration of basalt, diorite, feldspar porphyry and gabbro and lesser intrusion breccias and
hydrothermal breccias. Secondary copper minerals including malachite, azurite and tenorite are
widespread at surface, and coat fracture surfaces.
Catch is under option from a
Yukon
prospector, and Cascadia can earn up to a 100% interest. For
more information, see the Catch Property Technical Report filed on SEDAR+ at
www.sedarplus.ca
under the Cascadia Minerals Ltd. profile.
QA/QC
Analytical work for rock samples was completed by ALS Canada Ltd., with sample preparation in
Whitehorse
,
Yukon
and geochemical analyses in
North Vancouver, BC
. Samples were fine crushed
before a 250-gram split was pulverized to better than 85% passing 75 microns. Rock samples were
analyzed for gold by the Au-AA23 procedure which involves fire assay preparation using a 30-gram
charge with an atomic absorption spectroscopy finish. Multi-element data for 48 elements was
determined by the ME-MS61 procedure, which involves a four-acid digestion followed by inductively
coupled plasma – atomic emission spectrometry ("ICP-AES") and inductively coupled plasma-mass
spectrometry.
Overlimit values for gold were determined by the Au-GRA21 procedure which involves fire assay
preparation using a 30-gram charge with a gravimetric finish. Overlimit values for copper and silver
were determined by the Cu-OG62 and Ag-OG62 procedures which involve a four-acid digestion
followed by ICP-AES analysis.
Gold samples assaying over 30 g/t gold were re-analyzed with the Au-
SCR21
technique, which
involves screening of 1 kg of pulverized sample at 100 microns. Oversize material was analyzed in
entirety by fire assay with gravimetric finish. Undersize material was analyzed in duplicate by fire
assay with atomic absorption spectroscopy finish. Results of the oversize and undersize assays
were combined to provide the final reported numbers provided in this release.
Results referenced in this release represent highlight results only. Below detection values for gold
and copper have been encountered in soil and rock 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.
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 1,065 g/t gold.
In addition to Catch, Cascadia is currently drilling the PIL Property in the Toodoggone region of
British Columbia
, which hosts numerous porphyry copper-gold and epithermal gold targets. Work is
also ongoing at the 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
, all of which have
additional copper porphyry targets. Cascadia has approximately 52 million shares outstanding and
its largest shareholders are Hecla Mining Company,
Michael Gentile
and
Barrick Gold
.
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 25-JUL-24