Cascadia Samples 3.88% Copper with 30.00 g/t Gold at its Catch Property, Yukon; Drilling to Commence in August
Cascadia Samples 3.88% Copper with 30.00 g/t
Gold at its Catch Property, Yukon; Drilling to
Commence in August
VANCOUVER, BC
,
July 19, 2023
/CNW/ - Cascadia Minerals Ltd. ("
Cascadia
") (TSXV: CAM) is
pleased to announce prospecting, Induced Polarization ("
IP
"), Z-Axis Tipper Electromagnetic
("
ZTEM
") and aeromagnetic survey results from a 2023 Phase 1 exploration program at the Catch
Property ("
Catch
") in
Yukon
. With these encouraging results, a Phase 2 diamond drilling program at
Catch is planned to commence in early August. Exploration is also underway at the Rosy Property in
Yukon
and will be initiated shortly at the PIL Property in
British Columbia
.
Catch Main Zone (CNW Group/Cascadia Minerals Ltd.)
Catch Phase 1 Highlights
Catch prospecting returned
the highest copper and gold grades
on the project to-date,
including
3.88% copper with 30.00 g/t gold
in outcrop located
180 m
north of the 2022 Diorite
Zone discovery (Figure 1);
IP surveys at the Diorite Zone returned a
1,000 x 500 x
300 m
chargeability high immediately
below high-grade surface samples
(Figure 4);
Mineralized rock and soil samples in the Main Zone are coincident with a
well-developed IP
chargeability anomaly
extending to more than
300 m
in depth
(Figure 4);
Outcrop
chip sampling
at the Diorite Zone returned
12 m
of 0.31% copper with 0.17 g/t gold
(Figure 3);
Chip sampling at a new discovery
500 m
south of the Diorite Zone returned
6 m
of 0.12%
copper with 0.48 g/t gold
(Figure 3);
Prospecting between the Main and Diorite Zones identified a new hydrothermal breccia with
results including
0.21% Cu
with
4.82 g/t gold
(Figure 1); and
Preparation for a Phase 2
maiden diamond drill program at the Catch property
is underway,
with up to
2,500 m
planned to test the drill ready Main and Diorite Zones starting in early
August.
"
We continue to be very impressed with our exploration success at the Catch project,
" stated
Cascadia's president and CEO,
Graham Downs
. "
Our team continues to make new prospecting
discoveries across the recently expanded property, with much of it still awaiting systematic
evaluation. With extensive mineralization at surface and co-incident IP response at depth, we've
already defined two drill-ready targets and are eager to get the diamond drilling underway. This
has all the hallmarks of a significant new district-scale grassroots copper-gold discovery.
"
In addition to Phase 2 work at Catch, Cascadia is conducting exploration work at its PIL Property in
British Columbia
, and the Rosy Property in
Yukon
(Figure 5). Crews have been on site at Rosy for
two weeks following up on historical high-grade gold and silver epithermal veins. The planned work
program includes prospecting, mapping and soil sampling in underexplored areas. Crews will
mobilize to PIL in two weeks for prospecting, mapping and soil sampling to refine drill targeting for
the 2024 field season.
Figure 1 – Catch Copper in Soil
Figure 2 – Catch Main Zone
Figure 3 – Catch Diorite Zone
Figure 4 – Catch IP Chargeability
300m
Depth Slice
Figure 5 – Catch Property Location
Catch Phase 1 Results
Phase 1 exploration at Catch consisted of prospecting, mapping, and geophysical surveys. A total of
544 rock samples were collected, and 11.1 line-km of IP and 778 line-km of airborne ZTEM
geophysical surveys were completed.
Follow up prospecting focused around the Diorite Zone that was discovered at the end of the 2022
field season, (see ATAC Resources Ltd. news release dated
January 23, 2023
). A
12 m
hand
trench was dug where a 2022 sample returned 1.45% copper with 0.20 g/t gold. The trench was
chip sampled in
1 m
intervals and returned an average grade of
0.31% copper with 0.17 g/t gold
over
12 m
. Mineralization in the trench remains open in both directions and additional copper-gold
mineralization was found outside the trench across a 40 x
40 m
area (Figure 3).
A new outcrop showing discovered
180 m
north of the Diorite Zone hand trench returned numerous
high-grade samples, up to
3.88% copper with 30.0 g/t gold
(Figure 3). The average grade of 9
rock samples collected from the outcrop was
2.01% copper with 11.23 g/t gold
.
Another zone of mineralization was discovered approximately halfway between the Main and Diorite
zones (Figure 1), within a
5 km long copper-in-soil anomaly
. Rock samples in this area returned
results including
2.13% copper
in subcrop and
0.21% copper with 4.82 g/t gold
in outcrop.
The 2023 IP survey was focused around the Diorite Zone, with results integrated in 3D with 2022 IP
conducted at the Main Zone. The 2023 survey returned a
1,000 x 500 x
300 m
chargeability
high
immediately below the high-grade Diorite Zone surface samples (Figure 4). This area lies within a
coincident 600 x
550 m
magnetic low.
A Phase 2 exploration program including soil sampling and up to
2,500 m
of diamond drilling
at the
Main and Diorite zones is scheduled to commence in early August. This will be the
first ever
diamond drilling
conducted on the Catch Property.
Other 2023 Exploration Plans
In addition to work at the Catch Property, Cascadia will be conducting work at the PIL Property in
British Columbia
, and the Rosy Property in
Yukon
. Crews are scheduled to mobilize to the PIL
Property in two weeks to begin a prospecting, mapping and soil sampling program. A key focus of
this program will be to categorize alteration profiles at the known targets to help vector towards
potential porphyries at depth. If results warrant, a deep IP survey will be conducted to assist in
targeting for a potential 2024 drill program.
Crews mobilized to the Rosy Property on
July 5
th
for a prospecting and mapping program focused
on following up historical high-grade gold-silver epithermal veins. A soil sampling program will be
initiated in August at Rosy to improve geochemical coverage of peripheral parts of the property and
investigate an underexplored copper-in-soil anomaly. The Rosy work program is being supported by
a Yukon Mineral Exploration Program grant from the Yukon Government.
Catch Property Geology and Mineralization
The 71 km
2
Catch Property is located in central
Yukon
, 56 km southeast of the town of
Carmacks
,
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. Mineralization is associated with propylitic to sericitic alteration of basalt and
lesser diorite, intrusion breccias and hydrothermal breccias. Locally there is intense 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, and coat fracture surfaces, and are often associated with gypsum.
The geology, alteration and mineralization observed throughout Catch are all indicative of a nearby
copper-gold ± molybdenum bearing porphyry system.
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.sedar.com
under the Cascadia Minerals Ltd. profile.
QA/QC
Analytical work for all 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-AA24 procedure which involves fire assay preparation using a 50-gram
charge with an atomic absorption spectroscopy 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 inductively coupled plasma – atomic emission spectrometry ("ICP-AES") and inductively coupled
plasma-mass spectrometry.
Overlimit values for gold were determined by the Au-GRA22 procedure which involves fire assay
preparation using a 50-gram charge with a gravimetric finish. Overlimit values for copper were
determined by the Cu-OG62 procedure which involves a four-acid digestion followed by ICP-AES
analysis.
Results referenced in this release represent highlight results only and include samples collected by
previous operators in 2022 and earlier years. 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 exploring for copper and gold in
Yukon
and
British Columbia
. Cascadia's flagship Catch Property is a brand-new grassroots 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. Diamond drilling is planned to
commence at Catch in early August. In addition to Catch, Cascadia is conducting exploration work at
its PIL Property in
British Columbia
and the Rosy Property in
Yukon
, as well as evaluating additional
regional opportunities.
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:
please contact: 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 19-JUL-23