Cascadia Steps Out 315 m at Catch and Intersects 106 m of Porphyry Mineralization Grading 0.37% Copper and 0.22 g/t Gold (0.52% CuEq)
Cascadia Steps Out 315 m at Catch and
Intersects 106 m of Porphyry Mineralization
Grading 0.37% Copper and 0.22 g/t Gold
(0.52% CuEq)
VANCOUVER, BC
,
July 22, 2024
/CNW/ - Cascadia Minerals Ltd. ("
Cascadia
") (TSXV: CAM)
(OTCQB: CAMNF) is pleased to provide results from the 2024 Phase 1 diamond drill program at its
Catch Property in central
Yukon, Canada
, located 10 km from an all-season highway and powerline.
The Phase 1 program comprised a total of
1,613 m
of drilling in three holes at the Spark Zone. A
Phase 2 diamond drill program is underway to step out further at the Spark Zone, vectoring towards
the core of the porphyry system.
Spark Zone Plan Map (CNW Group/Cascadia Minerals Ltd.)
Spark Zone Drilling Highlights
Hole CA-24-006 intersected
106.00 m
of 0.37% copper with 0.22 g/t gold (0.52% CuEq)
,
within a broader interval of
177.00 m
of 0.25% copper and 0.14 g/t gold (0.34% CuEq) (Figures
2,4);
All five holes drilled to date at the Spark Zone have encountered porphyry mineralization across
470 m
of strike length and
520 m
of vertical extent from surface
, within an open-ended
1.2
x 1.0 km Induced Polarization chargeability high target
(Figure 2);
Hole CA-24-006 was a
315 m
step-out
from the 2023 discovery hole CA-23-002 (Figure 2);
An interval of potassic alteration in Hole CA-24-006 returned
0.67% copper with 0.87 g/t gold
(1.25% CuEq)
over 6.55
m
(Figures 5, 6), confirming higher-grade mineralization is present in
the core of the system;
Hole CA-24-007 encountered lower-grade mineralization in the pyrite-dominant outer shell of the
porphyry system for nearly its entire length,
returning
578.85 m
of 0.10% copper
(Figure 3);
A follow-up 1,500 m+ Phase 2 drill program is underway at Catch
, with further step outs to
the southeast at the Spark Zone targeting broader zones of potassic alteration and the core of
the porphyry system (Figure 2); and
Initial prospecting results from the Amp Zone (1 km north of the Spark Zone) are very
encouraging;
results to be released within the week.
"
To have stepped out over
300 m
from our discovery hole at the Spark Zone and hit higher grade
copper over a significant width is incredibly positive and a testament to the size and strength of the
system. All three of the holes drilled this spring achieved our goal of intersecting porphyry copper-
gold mineralization and critical alteration data, which will help us vector towards the core of the
system and target broader zones of higher grade potassic alteration,"
said
Graham Downs
,
Cascadia's President and CEO. "
Phase two exploration is now underway to drill step-out holes
further to the southeast, in the direction of higher-temperature alteration. New, grassroots porphyry
discoveries in
North America
are very rare, and typically take dozens of holes to vector towards
the core of the system. We've just caught the tip of the iceberg at Catch and look forward to
continuing to unlock this district-scale porphyry opportunity.
"
Figure 1 – Catch Copper-in-Soil Map
Figure 2 – Spark Zone Drill Plan Map
Figure 3 – Spark Zone Section A-A'
Figure 4 – Spark Zone Section B-B'
Figure 5 – CA-24-006 351.00 –
357.00 m
Figure 6 – CA-24-006 353.04 –
354.00 m
Detail Photo
Spark Zone Drilling Summary
Three diamond drill holes totalling
1,613 m
were completed at the Spark Zone in the first phase of
diamond drilling this season. There have been a total five diamond drill holes (
2,678.83 m
)
completed at the Spark Zone to date, with no documented exploration work on the property prior to
2020. The 2024 holes stepped out from 2023 discovery diamond drill hole CA-23-002, targeting a
broad Induced Polarization ("IP") chargeability anomaly at depth, underlying coincident high-grade
surface mineralization, within a pronounced magnetic low anomaly.
Table 1: 2024 Catch Drilling Highlights
Drill Hole
From (m)
To (m)
Interval
(m)
*
Copper (%)
Gold (g/t)
CuEq
**
CA-24-006
252.00
429.00
177.00
0.25
0.14
0.34
incl.
309.00
415.00
106.00
0.37
0.22
0.52
and incl.
352.00
358.55
6.55
0.67
0.87
1.25
CA-24-007
51.15
630.00
578.85
0.10
0.01
0.11
incl.
524.00
627.00
103.00
0.22
0.04
0.25
CA-24-008
195.95
413.00
217.05
0.10
0.02
0.11
incl.
195.95
226.95
31.00
0.25
0.02
0.26
* The reported intervals are drilled thicknesses and true widths are unknown.
**Copper Equivalent (CuEq) calculations use metal prices of US$3.75/lb for copper and US$1,950/oz for gold. Recoveries factors of 85% for copper and 75% for gold were used
based on a review of similar projects, as no metallurgical data has been collected for Catch.
CA-24-006 was collared
315 m
southeast of hole CA-23-002 (Figure 2), 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 feldspar porphyry, diorite, diorite
porphyry, basalt and gabbro. The top
252 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 zone of sericitic (quartz-sericite-pyrite) to potassic alteration (shreddy biotite often
replaced by chlorite) with disseminated to vein hosted pyrite-chalcopyrite mineralization from 252 to
429 m
returned
177 m
of 0.25% copper and 0.14 g/t gold
in all host rock types. Potassic alteration
was observed from 352.00 to
358.55 m
and returned
6.55 m
of
0.67% copper and 0.87 g/t gold
(Figure 5, 6). Strong propylitic alteration was observed again from 429 to
570 m
dominantly within
gabbro before encountering a large fault towards end of hole.
Hole CA-24-007 was collared from the same pad as CA-23-002 and drilled eastward to step out on
copper-gold mineralization at depth. This hole encountered dominantly diorite with the highest
abundance of pyrite observed in all holes at Spark Zone to date. The hole returned lower-grade
copper mineralization for nearly its entire length, with 51.15 to
630.00 m
returning
578.85 m
of
0.10% copper and ending in mineralization
(Figure 3). This interval is interpreted to represent the
pyrite shell of the porphyry system, suggesting that it is more distal to the core of the porphyry,
which is thought to be located to the south-southeast.
CA-24-008 was collared from the same pad as CA-24-006 and drilled northeast to test a potential
up-dip extension of the mineralization observed in hole CA-24-006. Broad intervals of lower-grade
copper mineralization were returned, including
217.05 m
of 0.10% copper from 195.95 to
413.00 m
,
ending in mineralization (Figure 4). These results support the interpretation that the core of the
system lies southeast of drilling completed to-date.
There is a pervasive late-stage chlorite-sericite-clay overprint on the mineralization making
identification of primary alteration difficult. In addition, structural deformation is observed in 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.
Indications are that there may be multiple overlapping porphyry events present.
Table 3: 2024 Catch Drill Hole Collars
*
Drill Hole
Easting (m)
Northing (m)
Azimuth (°)
Dip (°)
Depth (m)
CA-24-006
482,953
6,859,786
130
-67
570
CA-24-007
482,698
6,859,961
075
-70
630
CA-24-008
482,954
6,859,786
040
-65
413
* Easting and Northing are UTM co-ordinates in the NAD 83 datum, zone 8N. Azimuth is with respect to true north.
Phase 2 Exploration Program
A Phase 2 exploration program at Catch is now underway. At
least
1,500 m
of additional diamond
drilling
at the Spark Zone is planned, comprising 2-3 holes stepping out to the south-east towards
the interpreted core of the porphyry system (Figure 2). The drill program may be expanded if
warranted, with permitting in place to allow for up to
6,000 m
of additional drilling this season.
Additional IP geophysical surveys are also planned at the Spark Zone, as the eastern edge of the
chargeability anomaly is unbounded (Figure 2). Crews will complete additional IP lines further to the
east to help refine drill targeting.
Property Geology and Mineralization
The 119 km
2
Catch Property is in central
Yukon, Canada
, 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 – 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 Spark Zone is defined by a 700 x
700 m
magnetic low coincident with a 1,200 x
1,000 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. Diamond drill hole CA-23-002 returned
116.60 m
of 0.31%
copper and 0.30 g/t gold and CA-24-006 returned
106.00 m
of 0.37% copper and 0.22 g/t gold.
Copper and gold porphyry mineralization has been encountered in diamond drilling across
470 m
of
strike length and
520 m
of vertical extent from surface and is open in all directions.
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.
QA/QC
Analytical work was completed by ALS Canada Ltd, with sample preparation in
Whitehorse
,
Yukon
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"). Multi-
element data for 48 elements was determined 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.
About Cascadia
Cascadia is a Canadian junior mining company focused on making new copper and gold discoveries
in the
Yukon
and
British Columbia
. Cascadia's Catch Property in the
Yukon
hosts a brand-new
copper-gold porphyry discovery where drill results have 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 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 22-JUL-24