VANCOUVER, BC, Sept. 9,
2024 /CNW/ - Cascadia Minerals Ltd.
("Cascadia") (TSXV: CAM) (OTCQB: CAMNF) is pleased to
provide an update on exploration activities that have been ongoing
at its Yukon and BC properties,
focused on exploring for new copper-gold porphyry systems. The 2024
fieldwork program is now complete, with assays pending for multiple
projects.
Catch Property Exploration Overview – Yukon
- Phase 1 drilling in May at the Spark Zone successfully extended
the strike length of copper porphyry mineralization by 315 m, with hole CA-24-006 returning
106.00 m of 0.52% CuEq (see news
release dated July 22, 2024);
- Phase 2 drilling was recently completed at the Spark
Zone, totalling 1,441.54 m in two
step-out holes (Figure 1); and
- Phase 2 prospecting and structural geology work was also
completed at the Amp Zone, with 11 additional rock samples
collected to follow up on the discovery of high-grade epithermal
gold-silver mineralization which returned 1,065 g/t gold with 267
g/t silver (see news release dated July
25, 2024).
PIL Property Exploration Overview – British Columbia
- Cascadia's first drill program on the PIL property was
completed, comprising 2 diamond drill holes at the PIL South target
totaling 1,759 m (Figures 2, 3);
- A new area of visual copper mineralization in
outcrop was discovered 1.5 km south of the Copper Ridge
target, measuring approximately 400 x 300
m across a vertical extent of over 100 m (Figure 4); and
- Extensive property-wide prospecting and mapping was completed,
with 408 rock samples collected at a variety of new and previously
known targets (Figure 4).
Other Exploration Activities – Yukon
- Mapping and geochemical sampling programs were carried out at
the early-stage Sands of Time, Mack's Copper and Milner properties,
which all host potential for new copper-gold porphyry
discoveries;
- A total of 652 soil samples and 10 rock samples were collected
at the Sands of Time property, located adjacent to Western Copper
and Gold's Casino deposit;
- A total of 696 soil samples and 35 rock samples were collected
at the Mack's Copper property, located 42 km south of Carmacks in a similar geological setting to
the Catch Property (Figure 5); and
- A total of 878 soil samples and 30 rock samples were collected
at the Milner Property, located 80 km northeast of Whitehorse, which is also an early-stage
copper-gold porphyry target similar to Catch (Figure 5).
"Our team has had a busy and productive 2024 season,"
stated Cascadia's president and CEO, Graham
Downs. "We completed further step-out drilling at Catch,
continuing to test the extension of known mineralization at the
Spark Zone. We also undertook our first diamond drill program at
the PIL Property in BC, which has seen significant historical
exploration but limited work in recent years. Concurrent with
drilling at PIL, our crews conducted comprehensive prospecting at
numerous targets, which was highlighted by the discovery of a large
area of visual copper mineralization in outcrop 1.5 km south of the
Copper Ridge target. Finally, work at the Sands of Time, Mack's
Copper and Milner properties continues to advance these early-stage
projects through the exploration pipeline to prepare for
drilling."
Figure 1 – Spark Zone Drilling
Figure 2 – PIL South Drill Plan Map
Figure 3 – PIL South Drill Section
Figure 4 – PIL Property Prospecting
Figure 5 – Yukon Regional Properties
Catch Property Exploration, Yukon
The 2024 Phase 2 exploration program at Catch comprised
prospecting, mapping, and diamond drilling. Two diamond drill holes
totaling 1,445.41 meters were drilled at the Spark Zone, and a
total of 11 rock samples were collected. In total in 2024, five
diamond drill holes totaling 3,054.54 meters were drilled at the
Spark Zone.
Hole CA-24-009 was collared 380 m
east of hole CA-24-006 and drilled to a depth of 642.54 m, targeting a projected extension of the
mineralization trend to the southeast. Hole CA-24-010 was collared
260 m northeast of hole CA-24-006 and
drilled to a depth of 799.00 m,
targeting a down-dip extension of mineralization below the previous
intersection. This is the deepest hole drilled to-date on the Catch
Property.
Follow up prospecting focused on the Amp Zone, where high-grade
epithermal gold mineralization was discovered earlier this season,
with a rock sample returning 1,065 g/t gold with 267 g/t
silver. 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. Crews returned to the high-grade outcrop to
take structural measurements and collect additional samples, with
11 rocks collected in the area.
Assays from the Phase 2 program are pending and will be released
when available.
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.
PIL Property Exploration, BC
Cascadia conducted its first diamond drill program at the PIL
property, with two holes drilled at the PIL South target, totaling
1,759.00 m. Both holes were
extended beyond their targeted depths. Crews also conducted an
extensive prospecting and mapping program across the property, with
a total of 408 rock samples collected.
Hole PILS-24-005 was drilled to a depth of 848.00 m in the center of an IP chargeability
anomaly co-incident with high-grade samples in outcrop. This hole
tested both a zone of high-resistivity near surface as well as a
region of moderate chargeability and moderate resistivity at depth
– hypothesized to be the core of a porphyry system.
Hole PILS-24-006 was drilled 870 m
south of hole 5, to a depth of 911.00
m. This hole tested a region of very high chargeability at
depth, similar in character to the geophysical signature of the
nearby Kemess North deposit.
The prospecting program comprised follow-up work on a number of
known targets, as well as evaluation of areas that had seen minimal
previous exploration. A new area of visual copper mineralization
was discovered 1.5 km south of the Copper Ridge target, measuring
approximately 400 x 300 m across a
vertical extent of over 100 m.
Cascadia is confident that a number of exciting new targets will be
defined as a result of this program, with much of the property
still awaiting systematic exploration.
Assays from both the drilling and prospecting programs will be
released when available.
The 151 km2 PIL Property is located in the heart of
the 90 x 20 km northwest-trending Toodoggone district in northern
British Columbia, within the
eastern part of the Stikine Terrane. The Stikine Terrane is
juxtaposed against the Quesnel Terrane by the 1,000+ km long, deep
seated, crustal scale strike-slip Teslin-Thibert fault
approximately 8 km northeast of the property boundary. Stikine and
Quesnel Terranes are characterized by similar Late Triassic to
Early Jurassic volcanic-plutonic arc complexes that host numerous
porphyry copper-gold-molybdenum mines, deposits and prospects
including Red Chris (Newmont Mining), Galore Creek (Teck/Newmont),
Kemess (Centerra Gold), and Mount Milligan (Centerra Gold).
Numerous epithermal gold-silver projects are also found in the
region, including Brucejack (Newmont Mining), Ranch (Thesis Gold)
and Lawyers (Thesis Gold).
Other Properties
Exploration work was also completed at the Mack's Copper, Milner
and Sands of Time properties – all three located in Yukon. The Mack's Copper and Milner properties
were staked in 2023 based on similarities in geology to the
discovery at the Catch property – all of which lie within the
Stikine Terrane.
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, and has a historical road to site. 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. A total of 696 soil samples and 35 rock
samples were collected at the Mack's Copper property this season.
This included completing wide-spaced soil coverage across the core
of the property, as well as rock samples from new target areas.
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. A total of 878 soil samples and 30 rock samples
were collected at the Milner property this season.
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. Crews collected 652 soil
samples to extend broad-spaced coverage across the property, as
well as provide validation checks on historical soil sampling.
Outcrop exposure on the property is limited, however crews were
able to collect 10 prospecting rock samples from several areas that
had seen little previous work.
QA/QC
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 53 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.