VANCOUVER, BC, May 9, 2024
/CNW/ - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM)
(OTCQB: CAMNF) is pleased to announce its fully-funded phase one
exploration program for the 2024 field season. The phase one
program will be focused on exploration for copper-gold porphyry
systems throughout Yukon's
underexplored Stikine Terrane – the same geological Terrane that
hosts numerous copper-gold deposits in BC's prolific Golden
Triangle. Phase one exploration will be anchored by a diamond drill
program at the Catch Property to follow up on the 2023 drill
discovery of a significant new copper-gold porphyry system, with
drilling scheduled to commence May
15th.
Phase 1 Exploration Highlights
- 1,200 m of diamond drilling at the Catch
Property, following up on 2023 drill hole CA-23-002 which
returned 116.60 m of 0.31%
copper with 0.30 g/t gold from a new porphyry discovery (Figure
1);
- Comprehensive property-wide prospecting, mapping and soil
sampling at Catch to advance up to ten additional
copper-gold targets;
- Inaugural exploration programs at the Mack's Copper
and Milner properties, two recently staked Stikine Terrane
projects hosting new copper-gold showings
with significant copper-gold porphyry discovery potential
(Figures 2, 3, 4); and
- Grassroots exploration at the Sands of Time property, which
hosts two large molybdenum ± copper soil anomalies
located adjacent to Western Copper and Gold's
Casino Project, where Rio Tinto and Mitsubishi
Materials are strategic investors.
"We're very excited to embark on our Yukon exploration program for the 2024 season.
Last year we successfully made a significant new copper-gold
porphyry discovery at Catch in our inaugural diamond drilling
program, and we look forward to drilling meaningful step-out holes
this season. The closest historical diamond drilling to Catch is 50
km away, confirming this is a brand-new discovery in an area that
has been previously overlooked," said Graham Downs, Cascadia's President and CEO.
"We have also applied the Catch discovery model to other areas
within Yukon's Stikine Terrane and
have already staked two new projects as a result. We look forward
to advancing these properties to the drill discovery stage as well,
utilizing the same systematic and rapid exploration methodology
conducted at Catch."
Figure 1 – Catch Drill Plan Map
Figure 2 – Cascadia Stikine Property Map
Figure 3 – Mack's Copper Highlights
Figure 4 – Milner Highlights
Figure 5 – Sands of Time Highlights
Catch Property
In 2023, Cascadia conducted the inaugural diamond drill program
at the Catch Property, which resulted in the drill confirmation of
a significant new copper-gold porphyry discovery at the Spark Zone
(formerly named the Diorite Zone). Two holes were completed at this
target in 2023, both of which encountered mineralization. Hole
CA-23-002 returned 116.60 m of
0.31% copper with 0.30 g/t gold from 356.00 m and CA-23-001 returned 45.83 m of 0.30% copper with 0.15 g/t gold from
surface (Figure 1).
Diamond drilling is scheduled to commence May 15th at the Spark Zone, stepping
out from hole CA-23-002, targeting higher-grade potassic alteration
in the core of the porphyry system. A small zone of potassic
alteration was encountered in hole 2, which returned 0.95%
copper and 0.96 g/t gold over 2.48
m from 437.52 m,
confirming the higher-grade nature of potassic alteration in the
system. The first hole in 2024 will be drilled 315 m southeast of hole CA-23-002, testing a much
broader and stronger IP chargeability anomaly underlying
mineralized outcrop samples. The second hole is planned to test a
chargeability and resistivity high 150
m north of CA-23-002. Additional drilling may be completed
if results warrant and financing conditions allow.
A comprehensive prospecting, mapping and soil sampling program
will also be completed across underexplored portions of the
property. Ten additional targets have been prioritized for
follow-up rock sampling based on results of previous soil sampling
and an airborne ZTEM survey. A 1.6 x 0.6 km copper-in-soil anomaly
with an associated 500 x 500 m
magnetic low (analogous to the Spark showing) located 10 km
southeast of CA-23-002 has been identified as a high priority for
prospecting. Crews will also work on improving Cascadia's
understanding of the Volt Zone (formerly named the Main Zone),
where abundant high-grade mineralization is present as float on
surface, but limited diamond drilling has yet to intersect
mineralization in bedrock.
For more information on the Catch property, please visit
Cascadia's website at
https://cascadiaminerals.com/projects/catch-yt/
Mack's Copper Property
The 75 km2 100%-owned Mack's Copper Property is
located 44 km south of Carmacks,
10 km from the Klondike Highway and grid power, has a historical
road to site, and is located in a similar geological setting to the
Catch property. Cascadia staked Mack's Copper in late 2023 based on
results from a grassroots evaluation of high-priority targets
within the Stikine Terrane, and believes it has the potential to
host significant copper-gold porphyry mineralization.
Work in 2023 included the collection of 118 rock samples, 38
soil samples, and 38 silt samples, as well as compilation and
digitization of historical work within the property boundary.
Cascadia crews collected a rock sample returning 3.31% copper
with 1.23 g/t gold, 90.6 g/t silver and 0.90% lead from quartz
veins within a basalt outcrop on the western portion of the
property (Figure 3). An outcrop in the northeastern part of the
property returned 0.68% copper with 0.31 g/t gold and 6.9 g/t
silver in an area with no documented historical exploration.
Crews also sampled 0.18% copper with 0.37 g/t gold, 40 g/t silver
and 12.7 ppm molybdenum from subcrop in the southeastern part of
the property within a historical copper-in-soil anomaly with
historical rock samples returning up to 3.00% copper, with 1.28
g/t gold and 59.2 g/t silver.
These results combined with the synthesis of historical work and
regional geophysics have identified multiple promising targets for
copper-gold porphyry mineralization across the property, which will
see follow-up mapping, prospecting and soil sampling in 2024.
Milner Property
The 44 km2 100%-owned Milner Property is located 80
km northeast of Whitehorse,
adjacent to the Livingstone placer gold camp. The property is
accessible by a large existing gravel airstrip on claims and a
network of winter roads which extend from Whitehorse. This property was staked in late
2023 as part of Cascadia's regional Stikine Terrane evaluation
program, and covers an area with no documented historical work.
Work in 2023 included the collection of 76 rock samples, 80 soil
samples, and 3 silt samples. Rock samples from a large undocumented
gossan on the east portion of the property yielded numerous
anomalous results, with a highlight sample returning 0.45%
copper with 0.24 g/t gold, 6.0 g/t silver, and 34 ppm
molybdenum (Figure 4). A sample from the central part of the
property returned 0.38% copper with 0.22 g/t gold from a
float sample of a quartz vein.
The 2024 exploration program will include broad property-wide
grid soil sampling, as well as focused prospecting in areas of
anomalous 2023 soil and prospecting results or regional geophysical
features.
Sands of Time Property
The 57 km2 Sands of Time Property is located
immediately adjacent to Western Copper and Gold's
Casino porphyry project in western-central
Yukon. The property hosts two
large molybdenum ± copper soil geochemical anomalies similar in
size to the Casino Deposit (Figure 5).
The property is in unglaciated terrain and a copper-depleted
leached cap is expected in this environment, similar to the
Casino deposit. Molybdenum is relatively immobile
compared to copper under these weathering conditions and can be
used as a vector towards blind porphyry molybdenum ± copper-gold
mineralization.
Exploration in 2024 will include prospecting, mapping, soil
sampling and a review of historical core stored on the property.
Work will be focused in two areas, the NE target – adjacent to the
Casino property – and the Amoco target, where
historical drilling returned grades similar to the leached cap of
the Casino Deposit.
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 additional
early-stage regional projects. Cascadia has approximately 45
million shares outstanding and its largest shareholders are Hecla
Mining Company and Barrick Gold.
QA/QC
Analytical work for samples was completed by ALS Canada Ltd,
with sample preparation in Whitehorse, Yukon 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 rock 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"). Soil and silt samples were
dry-screened at 180 micron, with analysis conducted on the fine
fraction. Gold was determined for soil and silt samples by the
Au-ICP21 method, which involves fire assay preparation with a
30-gram charge followed by an ICP-AES finish. Multi-element data
for 48 elements was determined for all samples by the ME-MS61
procedure, which involves a four-acid digestion followed by ICP-AES
and inductively coupled plasma-mass spectrometry. Overlimit values
for copper and lead were determined by the ME-OG62 procedure, which
involves a four-acid digestion followed by ICP-AES analysis.
Results referenced in this release represent highlight results
only. Below detection values for copper, gold, silver, molybdenum
and lead have been encountered in silt, rock and soil samples in
these target areas. Historical samples are referenced from publicly
available assessment reports and have not been independently
verified by Cascadia.
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.
