Casa Minerals Inc. Provides Update on the 2023 Congress Gold Mine Exploration and Drilling Program
Casa Minerals Inc. Provides Update on the
2023 Congress Gold Mine Exploration and
Drilling Program
Vancouver, British Columbia--(Newsfile Corp. - March 22, 2023) - Casa Minerals Inc. (TSXV: CASA)
(OTC Pink: CASXF) (FSE: 0CM) (the "Company" or "Casa") is pleased to announce its 2023
exploration plan for its Congress Gold Mine Project.
Building on its 2022 program which verified mineral
data of the Eastern part of the project, the Company explored additional parts of the historic mine and
has developed plans for follow-up and confirmation drilling of the Congress Mine West Zone.
Casa Minerals Inc, plans to drill 20 drill holes with average length 250 metres (820 feet), totaling
approximately 5000 metres (16,400 feet) to confirm the historic resource as reported by previous
operators/owners.
Figure 1: Historic resource as outlined by previous operators/owners.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1750/159403_20d836fb9436a865_001full.jpg
The objective is to further explore areas of potentially economic gold mineralization and long intervals of
strong gold enrichment that were discovered by drilling in 2022 (reference: News Release, February 1,
2023).
All work will be conducted in accordance with Arizona mining laws and regulations and will be
supervised by qualified registered consulting geologists.
Core samples will be processed by mineral
exploration QA/QC and NI 43-101 standard procedures and analysed by ISO 9000 registered
independent analytical laboratories.
The following 5 sections provide the drill hole sections and plans of historic data collected by the
company subject to confirmation by 2023 drilling program.
Casa Minerals Congress Mine, Arizona - Cross Section B-B'
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1750/159403_20d836fb9436a865_002full.jpg
Casa Minerals Congress Mine, Arizona - Cross Section F-F'
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1750/159403_20d836fb9436a865_003full.jpg
Casa Minerals Congress Mine, Arizona - Cross Section H-H'
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1750/159403_20d836fb9436a865_004full.jpg
Casa Minerals Congress Mine, Arizona - Cross Section L-L'
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1750/159403_20d836fb9436a865_005full.jpg
Casa Minerals Congress Mine, Arizona - Cross Section M-M'
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1750/159403_20d836fb9436a865_006full.jpg
Casa, in 2022, commenced drilling to confirm a substantial gold "resource" of 400,000 to 500,000 tons
(365,000 to 455,000 tonnes) grading 0.3 opt (9.33 g/t) that were reported in 1989 by Echo Bay Mines,
the most recent explorer/operator.
Republic Goldfields Inc., dba Malartic Hygrade U.S. Inc., subsequently
reported production of 28,500 ounces gold from 125,000 tonnes (i.e. 0.23 opt).
Over the course of its
history, the Congress gold mine has produced about 400,000 to 500,000 ounces of gold from
underground workings and once supported a full ore processing plant, complete with a small frontier-
style town.
After more than 100 years of intermittent activity, the mine last operated in 1992.
The above-
quoted numbers cannot be verified and have not been audited by a Qualified Person, and do
not conform to current NI 43-101 standards and should not be relied upon in any evaluation of
the Congress Gold Mine.
Gold occurs with vein quartz and in strongly silicified granite.
Congress Mine property, located in Yavapai county, central Arizona, comprises 105.2 hectares (260
acres) of patented land and 200.2 hectares (494.8 acres) that were acquired by staking.
Casa Minerals
Inc. owns a 90% interest in the historic claims from 40 feet depth and beyond and an undivided 100% of
the staked ground.
A 1.5% Net Smelter Royalty is payable on production from the patented claims and
certain surface rights to depth of 12.2 metres (40 feet) are held by a third party.
Other Properties
Casa Minerals Inc. also is preparing exploration programs for its British Columbia properties and
updates will announce such as soon as they are available.
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) in the patented claims from 40 feet depth and beyond and in addition the Company owns
undivided 100% in 25 claims (494.48 acres) of unpatented ground adjacent to the Congress gold mine.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/159403