Casa Minerals Acquires Additional 494.48 Acres Mineral Land Claim at Congress Gold Mine
Casa Minerals Acquires Additional 494.48
Acres Mineral Land Claim at Congress Gold
Mine
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2022) -
Casa Minerals Inc. (TSXV:
CASA) (OTC Pink: CASXF) (FSE: OCM) (the "Company or "Casa")
is pleased to announce that it
has staked 25 mineral claims consisting of 494.48 acres contiguous to the Company's Congress Gold
Mine property located in Congress, Arizona, following successful inaugural drilling program since the
mine shut down in the early 1990s, (Assays pending). The Congress property is located approximately
100km northwest of Phoenix, Arizona and is accessible by road. Existing infrastructure allows year-
round exploration activities.
The Congress veining system that has been mapped by Casa's geological team extends in a northwest-
southeast direction. As a result of Casa's recent staking activity, the Company now owns the entire
known extent of the prospective area of gold mineralization. Previous operators of the Congress mine,
including Echo Bay Mines, explored parts of the western extension of the vein system. and in 1989 when
Echo Bay Mines offered the Congress Mine for sale, a "current ore reserve" of 400,000 to 500,000 tons
at 0.3 opt Au was estimated (Sell and Miller, 1989). This resource, which was not measured in
accordance with current NI 43-101 standards, was subsequently purchased by Malartic Hygrade U.S.
Inc., an affiliate of Republic Goldfields Inc ("Goldfields"). Goldfields' 1991 annual report lists production of
125,000 tons, yielding 28,500 ounces of gold. The mine was shut down at some point in 1992. The 1992
production figures are unknown.
The Company engaged Huit-Zollars, Inc. to perform the staking. The newly staked claims in the northern
portion of the property cover the previously unexplored probable extensions of the Congress and
Niagara veins that supported the historic mine. Casa's exploration crews have identified target areas
that if verified by on-going field and analytical work may comprise important new discoveries.
Casa Minerals Inc.'s subsidiary Casa Gold (USA) LLC holds a Special Land Use Permit to perform
exploration work on the mineral claims.
Mr. Farshad Shirvani, Casa president and CEO stated "We are extremely fortunate to have been able to
acquire this 494.48 acre (25 claim) land package as it holds significant value for the Company's overall
Congress Mine exploration and development plans. The claims contain a historic "ore reserve" that the
Company will endeavour to develop into a reportable NI43-101 resource."
About Congress Gold Mine Project:
Since purchasing the Congress property, Casa has compiled all available technical data concerning the
former mining operations. Documented mining operations, at intervals from 1880 to 1980 produced
426,000 ounces of gold, followed from 1982 to 1988 by poorly documented operations that may have
produced an additional 75,000 ounces.
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Qualified Person:
Mr. Erik Ostensoe P.Geo., a director and chief geologist of the Company, a Qualified Person as defined
by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure in this
news release.
Cautionary Note:
All historic data referenced in this news release were obtained from available
archives and have not been confirmed or verified by the Company or a Qualified Person. There is no
assurance that work by Casa Minerals will result in identification of economically-viable mineral
bodies comparable in size and/or grade to those that supported historic mining operations.
About Casa Minerals Inc.
The Company is engaged in the acquisition, exploration and development of mineral properties located
in Canada and the USA. Casa owns ninety percent (90%) interest in the Congress gold mine (Arizona,
USA). This historic high-grade gold producing mine has not been explored nor been in production since
1992. Additionally, the Company owns a one hundred percent (100%) interest in the polymetallic Pitman
and Keaper properties (BC, Canada) and has an option to acquire a seventy-five percent (75%) interest
in the Arsenault VMS Property (BC, Canada).
On Behalf of Board of Directors
Farshad Shirvani, M.Sc. Geology
President and CEO
For more information, please contact:
Casa Minerals Inc.
Farshad Shirvani, President & CEO
Phone: (604) 678-9587
Email:
https://www.casaminerals.com
NEITHER 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 RELEASE.
Certain of the statements made and information contained herein may constitute "forward-looking
information." In particular references to the private placement and future work programs or
expectations on the quality or results of such work programs are subject to risks associated with
operations on the property, exploration activity generally, equipment limitations and availability, as
well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place
undue reliance on forward-looking information. Except as required under applicable securities
legislation, the Company undertakes no obligation to publicly update or revise forward-looking
information, whether as a result of new information, future events or otherwise.
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