Cascadia Samples 9.01% Copper and Prepares for 2024 Diamond Drilling at PIL Property, British Columbia
Cascadia Samples 9.01% Copper and
Prepares for 2024 Diamond Drilling at PIL
Property, British Columbia
VANCOUVER, BC
,
Jan. 9, 2024
/CNW/ - Cascadia Minerals Ltd. ("
Cascadia
") (TSXV: CAM) is
pleased to provide results of the 2023 exploration program at the PIL Property, located in the prolific
Toodoggone porphyry copper-gold and epithermal precious metals district of northern
British
Columbia, Canada
. Work in 2023 included a TITAN deep induced polarization ("IP") geophysical
survey at the PIL South target, as well as prospecting and mapping focused primarily in the
underexplored northeastern portion of the property, at the Spruce target.
2024 PIL Drilling Target (CNW Group/Cascadia Minerals Ltd.)
PIL 2023 Exploration Summary
Deep IP survey at the PIL South target identified
a classic porphyry signature below shallow
historical drilling that intersected typical high-level pyrite mineralization and alteration
;
The IP survey signature underlies a
2.5 x 2.0 km gold-
copper
±
molybdenu
m soil and rock
sample anomaly
at surface;
Prospecting at the Spruce target identified
significant copper, silver and molybdenum
samples along a 2.6 km trend
;
Spruce rock sample highlights include
9.01% copper with 212 g/t silver and 0.26 g/t gold
in
float, and
3.75% copper with 101 ppm molybdenum in outcrop
; and
Planning is underway for 2024 exploration, including
diamond drilling at PIL South in 2024
to
test the porphyry target at depth and geophysics and mapping to prepare Spruce for drilling.
"
We are very encouraged by the deep IP survey at the PIL South target as it returned compelling
indications of porphyry copper mineralization at depth, beneath historical shallow drilling. We plan
to undertake our first diamond drill program at PIL this summer, focusing on testing PIL South at
depth,"
said
Graham Downs
, Cascadia's President and CEO. "
The prospecting results from the
recently identified Spruce target are also very exciting. We have now defined a 2.6 km mineralized
trend in this area with alteration profiles suggestive of porphyry mineralization. We will continue to
systematically advance Spruce in 2024, with geophysics, surface work, and drilling if warranted.
"
Figure 1 – PIL Property Copper-in-Soil Map
Figure 2 – PIL South Copper-in-Soil Map
Figure 3 – PIL South TITAN IP Chargeability Section A-A'
Figure 4 – PIL South TITAN IP Resistivity Section A-A'
Figure 5 – Spruce Target Map
PIL South TITAN IP Survey Results
A TITAN deep IP geophysical survey was conducted at the PIL South target in 2023, in an area with
strong surface mineralization, limited historical drilling, and a strong response from a shallower
conventional IP survey completed in 2022. Two perpendicular TITAN IP lines were completed,
totaling 4.8 line-km (Figure 2).
Results of this survey are suggestive of the potential for a buried porphyry target underneath the
shallow historical drilling. The chargeability response exhibits a broad zone of very high-chargeability
around a deeper zone of moderate chargeability, suggestive of a pyrite halo around the core of a
porphyry system (Figure 3) at the
1,200 m
elevation level. The resistivity response shows a core
zone of moderate resistivity with moderate chargeability values that could represent the potassic
core (Figure 4).
Three shallow historical drillholes were completed by a previous operator at this target in 2003, with
no significant intercepts of copper mineralization. Core from these holes were reviewed in detail this
season and exhibits high-level alteration signatures (propylitic to sericite alteration), as well as zones
of significant pyrite, and short intervals of anomalous copper and gold. This supports the
interpretation of the IP signature, suggesting the presence of a pyrite shell – intersected by historical
drilling – potentially adjacent to the potassic core of a porphyry that has never been drill tested.
Cascadia plans to drill-test this hypothesized potassic core in 2024, embarking on its first diamond
drilling campaign at the PIL property.
Prospecting and Mapping Results
Fieldwork in 2023 included the collection of 420 soil samples and 186 rock samples. Exploration was
focused on the Spruce and PIL South areas, with expansion of soil grids at both targets (Figure 1).
Contour sampling and prospecting was also completed in various underexplored areas between the
two targets.
Rock sampling at Spruce identified mineralization in float and outcrop across a 2.6 km trend
northwest of the original 2022 discovery outcrop, in an area that has seen no historical exploration.
Grab samples returned results including
3.75% copper with 101 ppm molybdenum in outcrop,
2.07% copper in outcrop, and 9.01% copper with 212 g/t silver and 0.26 g/t gold in talus
(Figure 5). The alteration assemblage and trace element signature of samples in this area are
strongly suggestive of porphyry style mineralization at depth. Given the extensive nature of
mineralization at Spruce, planning is underway for follow-up work in 2024.
Soil sampling results extended the known PIL South anomaly further to the east, and identified a
new area of potential mineralization 3 km south of the Spruce target (Figure 1). These areas will be
further evaluated in 2024.
Property Geology and Mineralization
The 151 km
2
PIL Property is located in the heart of the 90 x 20 km northwest-trending Toodoggone
district in northern
British Columbia
, within the eastern part of the Stikine Terrane. The Stikine
Terrane is juxtaposed against the Quesnel Terrane by the 1,000+ km long, deep seated, crustal
scale strike-slip Teslin-Thibert fault approximately 8 km northeast of the property boundary. Stikine
and Quesnel Terranes are characterized by similar Late Triassic to Early Jurassic volcanic-plutonic
arc complexes that host numerous porphyry copper-gold-molybdenum mines, deposits and
prospects including
Red Chris
(Newmont Mining), Galore Creek (Teck/Newmont), Kemess (Centerra
Gold), and Mount Milligan (Centerra Gold). Numerous epithermal gold-silver projects are also found
in the region, including Brucejack (Newmont Mining), Ranch (Thesis Gold) and Lawyers (Thesis
Gold).
The Toodoggone district is underlain by volcanic and sedimentary rocks of the Early to Middle
Jurassic Hazelton Group and the coeval Early Jurassic Black Lake Plutonic intrusive complex. There
is a prominent northwest-trending regional structural fabric with the strata in the Toodoggone
disrupted by several steeply dipping normal faults, strike-slip faults and thrust faults.
The Property is under option from Finlay Minerals Ltd., and Cascadia has the ability to acquire a
70% interest in the project by making a series of staged payments and work expenditures. For more
details on the Property, please visit our website at
www.cascadiaminerals.com
.
About Cascadia
Cascadia is a Canadian junior mining company focused on exploring for copper and gold in 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 PIL Property in
British Columbia
and the Sands of Time and Rosy properties in the
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
Kamloops, BC
, and geochemical analyses in
North Vancouver, BC
. Rock 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 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 for by the ME-MS61 procedure, which involves a four-acid digestion followed by
inductively couple plasma-atomic emission spectroscopy ("ICP-AES") and inductively coupled
plasma-mass spectrometry ("ICP-MS"). Overlimit values for copper, silver, lead and zinc were
determined using the ME-OG62 procedure, which involves a four-acid digestion followed by ICP-
AES analysis.
Soil samples were dry-screened at 180 micron, with analysis conducted on the fine fraction. Soil
samples were analyzed for gold and 50 other elements by the AuME-TL43 procedure which involves
aqua regia digestion of a 25-gram split with an ICP-AES and ICP-MS finish.
Results referenced in this release represent highlight results only. Below detection values for gold,
silver, copper, lead, zinc and molybdenum 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:
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 09-JAN-24