Casa Minerals Provides an Update on The Congress Gold Mine Project
Casa Minerals Provides an Update on The
Congress Gold Mine Project
Vancouver, British Columbia--(Newsfile Corp. - October 17, 2023) -
Casa Minerals Inc.
(TSXV: CASA)
(OTC Pink: CASXF) (FSE: 0CM) (the "Company" or "Casa") is pleased to provide an update for its
Congress Gold Mine project located near the town of Congress in the Martinez Mining District of
Yavapai County, Arizona, and an update of planning.
Casa is the owner of a 90% interest in the
Congress Gold Mine property.
The historic Congress mine produced approximately 500,000 ounces gold from the Congress and
Niagara veins.
All production was from underground workings. Casa, in a news release dated 20-09-
2022, announced completion of ten drill holes with lengths between 74.7 and 365.8 metres (245.1 feet
and 1200.2 feet) and in a news release dated 30-01-2023, announced initial assay results in a tabulation
of significant intercepts that included the following:
Table 1: 2022 Drill assays results of the Congress Gold Mine Project
DDH
Including
From (m)
To (m)
Width (m)
Au (g/t)
Ag (g/t)
CGC-001
Inc.
75
76.8
1.8
1.1
3.4
CGC-003
78.3
81.4
3
2.6
4.6
CGC-003
78.3
86.3
7.9
1.9
4.3
CGC-003
78.3
89
10.7
1.6
3.6
CGC-003
Inc.
85
86.3
1.2
4.3
5.6
CGC-003
85
87.5
2.4
2.6
4.3
CGC-004
Inc.
34.1
69.2
35.1
1.1
1.9
CGC-004
Inc.
50.9
61.6
10.7
3.5
4.2
CGC-004
Inc.
55.5
57
1.5
14.9
6.9
CGC-004
55.5
58.5
3
9.3
7.3
CGC-005
Inc.
80.2
82
1.8
1
0.9
CGC-005
Inc.
126.8
129.8
3
1.1
2.6
CGC-005
Inc.
320.6
322.2
1.5
2.8
0.3
CGC-009
Inc.
6.4
8.5
2.1
1.2
4.7
CGC-009
256.3
257.9
1.5
2.6
10.4
CGC-009
262.4
264
1.5
1.3
3.4
CGC-009
268.5
271.6
3
1.5
3.2
CGC-009
268.5
280.7
12.2
1.1
2.1
CGC-009
283.8
285.3
1.5
3.1
2.1
CGC-009
Inc.
317.3
318.8
1.5
1.6
1
The Congress Gold mine operated at intervals from 1880 to 1992.
Casa purchased the property in 2021
and conducted due diligence, data compilation and field surveys, followed in 2022 by diamond drilling
10 drill holes with a total length 2,081 metres (6,828 feet). The 2022 drill program was planned to confirm
the accuracy and integrity of the gold and silver mineralization database. Additionally, the purpose of the
drilling was to establish geological characteristics of mineralization and host rock formations and to
confirm exploration potential in and near the former Congress Mine.
Operations were conducted in
accordance with Arizona mining regulations and the federal Mines Act of 1871 and OSHA.
Site
management and drill core processing were supervised by a Registered Professional Geologist
registered in the State of Arizona.
Based on the available historic data, additional mineral rights adjoining the mine were acquired by
staking and the property now comprises both patented and Lode Claims totaling 305.33 hectares
(754.48 acres). Historic data collected from the MY zone (western extension of the Congress Gold
Deposit) has demonstrated a major gold veining system that has yet to be drill tested. The geological
and mineralization models have been developed and an exploration plan is being finalized that upon
completion will be announced.
Farshad Shirvani, President and CEO stated, "Our exploration team has extensive experience in
geological exploration and planning, with multiple mining exploration discoveries, advancing through to
mine development. It is the geological knowledge and market awareness that builds the foundation of a
successful company, and we are dedicated to investing in the exploration and potential development of
the Congress Gold Mine Project."
2024 Exploration Program
Casa is currently planning a 2024 program of drilling and exploration work on the property to advance
the Congress Gold Mine project. Work will be directed to follow-up drilling in the areas of gold-bearing
quartz veins and auriferous sheared zones in and near the Congress and Niagara veins, and to
potentially rehabilitate parts of the past producing mine.
As previously reported, historic drill hole intercepts from 1990 drilling that was conducted by a previous
operator on the property are outlined in Table 2:
TABLE 2.
Historic Drill Hole Intercepts
DDH
Including
From (m)
To (m)
Width (m)
Au (g/t)
Ag (g/t)
Year
Operator
90-02
Inc.
78.2
86.4
8.2
2.5
6.4
1990
Other
90-02
Inc.
83.0
84.9
1.8
7.6
9.7
1990
Other
90-03
152.8
159.8
6.9
4.5
7.0
1990
Other
90-03
Inc.
157.1
158.1
1.0
9.8
12.2
1990
Other
90-04
126.3
127.3
0.9
2.4
3.9
1990
Other
90-06
18.0
19.8
1.8
2.3
6.4
1990
Other
90-07
26.9
27.8
0.9
7.5
71.5
1990
Other
90-07
62.9
68.2
5.2
1.3
4.6
1990
Other
90-07
Inc.
67.6
68.2
0.5
4.1
23.3
1990
Other
90-08
205.6
215.3
9.7
3.1
22.5
1990
Other
90-08
Inc.
206.9
207.6
0.7
16.5
107.5
1990
Other
90-08
206.9
208.8
1.9
7.6
46.3
1990
Other
90-09
50.1
51.7
1.5
3.2
5.2
1990
Other
90-12
157.3
157.9
0.6
15.7
51.5
1990
Other
90-12
Inc.
159.9
160.7
0.7
4.6
15.7
1990
Other
90-12
164.6
165.4
0.8
6.4
13.6
1990
Other
90-13
215.3
215.7
0.3
4.7
23.0
1990
Other
90-13
215.3
220.5
5.2
2.7
8.7
1990
Other
90-13
Inc.
219.3
220.0
0.7
4.7
21.5
1990
Other
90-15
Inc.
190.2
191.4
1.2
5.4
9.6
1990
Other
90-18
86.4
86.9
0.5
6.9
2.6
1990
Other
90-20
22.3
22.9
0.6
6.7
6.8
1990
Other
90-20
142.5
143.3
0.7
6.4
9.4
1990
Other
Disclaimer:
Table 2 data from historic property work has not been confirmed by Casa and should not
be relied upon in any evaluation of the Congress Property. True thicknesses of the intercepts have not
been determined.
Historic data is included in this news release as an indication of the gold and silver
values present in parts of the Congress and Niagara veins.
About the Congress Mine
The Congress mine is a shear zone hosted gold-silver deposit:
low sulphide gold quartz veins occupy
complex structural zones in coarse-grained gneissic granodiorite and pegmatite of Precambrian age.
Gold values occur in association with fine-grained pyrite and, frequently, other sulphide minerals.
Most historic production was from the Congress and Niagara veins that are exposed on surface over
more than 1060 m (3,500 ft) and 365 m (1200 ft). Both veins trend northwesterly and dip moderately to
the north and were variously mined to several hundred metres from surface.
Several other gold-bearing
veins are referred to in archival documents but have not been investigated.
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.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/184208