VANCOUVER, BC, July 25,
2024 /CNW/ - Cascadia Minerals Ltd.
("Cascadia") (TSXV: CAM) (OTCQB: CAMNF) is pleased to
announce prospecting results from the Phase 1 exploration program
at the Catch Property in Yukon. A
Phase 2 exploration program is currently underway at Catch, with
additional prospecting, mapping, diamond drilling and Induced
Polarization ("IP") surveys.
Catch Prospecting Highlights
- Prospecting at the Amp Zone, located 1 km north of the recently
released drilling at the Spark Zone, returned the highest gold
and silver grades on the project to-date, including a
0.9 kg outcrop sample which returned 1,065 g/t gold and
267 g/t silver (Figures 1, 2);
- A second sample from a different portion of the same
outcrop returned 47.2 g/t gold and 19.3 g/t silver in a 1.4
kg sample (Figure 3);
- The mineralization is associated with strong silicification,
abundant pyrite and quartz-calcite veins and provides evidence
of a large and fully preserved epithermal target associated with
the nearby porphyry system;
- An expanded IP survey is scheduled to commence shortly, which
will extend coverage over the Amp Zone to aid in future diamond
drill targeting; and
- Prospecting crews are on-site to conduct follow-up work at the
Amp Zone and elsewhere on the property.
"The discovery of such high-grade epithermal gold
mineralization over 1 km north of a new drill-confirmed porphyry
discovery is a significant development for us. Epithermal
gold-silver mineralization is often associated with porphyry
systems but not always preserved. The Amp Zone represents another
distinct target on this district-scale property," stated
Cascadia's president and CEO, Graham
Downs. "I would like to commend and congratulate our team
for their hard work and determination in making new prospecting
discoveries across the 119 km2 property, with much of it
still awaiting systematic evaluation. Crews are excited to be back
at Catch and will be continuing to follow up on the Amp Zone and
other targets while drilling is underway at Spark. In addition to
our ongoing drill programs at Catch and PIL, soil sampling and
prospecting is now underway at the Sands of Time, Macks Copper, and
Milner properties, which all have early-stage copper-gold porphyry
potential."
Figure 1 – Catch Magnetic Intensity
Figure 2 – Amp Zone Rock Photo 1
Figure 3 – Amp Zone Rock Photo 2
Amp Zone Prospecting Results
The 2024 Phase 1 exploration program at Catch comprised
prospecting, mapping, and diamond drilling. Three diamond drill
holes totaling 1,613 meters were drilled at the Spark Zone (see
news release dated July 22, 2024),
and a total of 89 rock samples were collected.
Follow up prospecting focused on the Amp Zone, which was
discovered late in the 2023 field season. The Amp Zone is located
between the Spark and Volt Zones, approximately 1 km north of this
season's diamond drilling at Spark, within a broad 5 km long
copper-in-soil anomaly (Figure 1).
In 2023, prospecting samples at Amp returned 0.21% copper
with 4.82 g/t gold from outcrop. Follow up work in 2024 at the
same outcrop returned 1,065 g/t gold with 267 g/t silver
(0.9 kg sample) and 47.2 g/t gold with 19.3 g/t silver
(1.4 kg sample). The gold-silver mineralization is hosted within a
highly silicified basalt with up to 10% pyrite and is associated
with elevated arsenic and antimony geochemistry, suggesting it is
epithermal in nature.
The Amp Zone also exhibits significant copper mineralization in
rock samples, with a 2023 subcrop sample 60
m northwest of the high-grade gold-silver outcrop returning
1.68% copper with 0.72 g/t gold and another 2023 sample
returning 2.13% copper in outcrop. There are 16 rock samples
at the Amp Zone that have returned over 0.10% copper and are
associated with feldspar porphyry dykes and propylitic altered
basalt. Samples to date are suggestive of the potential for both
copper-gold porphyry at depth and epithermal gold-silver
mineralization at surface at the Amp Zone.
Previous Induced Polarization ("IP") geophysical surveys were
focused on the Spark and Volt Zones, and did not provide coverage
at the Amp Zone. This IP grid will be extended to cover the Amp
Zone during the ongoing 2024 Phase 2 exploration program.
Diamond drilling is underway at the Spark Zone, see news release
dated July 22, 2024 for details.
Catch Property Geology and Mineralization
The 119 km2 Catch Property is located in
central Yukon, 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 – a key geological
terrane which extends from the Golden Triangle in British Columbia into Yukon. 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.
Catch is mostly underlain by augite phyric basalt of the Semenof
Formation, centered on a 7 x 3 km regional magnetic high. Copper
gold porphyry mineralization is associated with potassic to
sericitic alteration of basalt, diorite, feldspar porphyry and
gabbro and lesser intrusion breccias and hydrothermal breccias.
Secondary copper minerals including malachite, azurite and tenorite
are widespread at surface, and coat fracture surfaces.
Catch is under option from a Yukon prospector, and Cascadia can earn up to
a 100% interest. For more information, see the Catch Property
Technical Report filed on SEDAR+ at www.sedarplus.ca under the
Cascadia Minerals Ltd. profile.
QA/QC
Analytical work for rock samples was completed by ALS Canada
Ltd., with sample preparation in Whitehorse, Yukon and geochemical analyses in North Vancouver, BC. Samples were fine crushed
before a 250-gram split was pulverized to better than 85% passing
75 microns. Rock samples were analyzed for gold by the Au-AA23
procedure which involves fire assay preparation using a 30-gram
charge with an atomic absorption spectroscopy finish. Multi-element
data for 48 elements was determined by the ME-MS61 procedure, which
involves a four-acid digestion followed by inductively coupled
plasma – atomic emission spectrometry ("ICP-AES") and inductively
coupled plasma-mass spectrometry.
Overlimit values for gold were determined by the Au-GRA21
procedure which involves fire assay preparation using a 30-gram
charge with a gravimetric finish. Overlimit values for copper and
silver were determined by the Cu-OG62 and Ag-OG62 procedures which
involve a four-acid digestion followed by ICP-AES analysis.
Gold samples assaying over 30 g/t gold were re-analyzed with the
Au-SCR21 technique, which involves
screening of 1 kg of pulverized sample at 100 microns. Oversize
material was analyzed in entirety by fire assay with gravimetric
finish. Undersize material was analyzed in duplicate by fire assay
with atomic absorption spectroscopy finish. Results of the oversize
and undersize assays were combined to provide the final reported
numbers provided in this release.
Results referenced in this release represent highlight results
only. Below detection values for gold and copper have been
encountered in soil and rock 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 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 1,065 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.
