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 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
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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.
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