Toronto, Ontario--(Newsfile Corp. - January 9, 2025) - Cascada Silver Corp. (CSE:CSS) ("Cascada") is pleased to announce that it has commenced Phase II diamond drilling at its Angie Copper Molybdenum Property ("Angie") located 85 kilometres east southeast of the City of Copiapo, Chile. In preparation for the drilling program, Cascada completed a drone-based magnetometer survey over Angie in order to refine the drill hole collar locations.
The Phase II program will consist of up to 2,000 metres of diamond drilling following up on the results of the two-hole, Phase I reverse circulation ("RC") drill program completed in October 2023. The Phase I program returned significant mineralized intervals within a porphyry environment including 26 metres grading 713 parts per million ("ppm") molybdenum (drill hole AAS-02) with a higher grade interval of 1,208 ppm molybdenum over 8 metres at the end of the hole. Below 100 metres downhole, copper mineralization, chalcopyrite and locally bornite, along with pyrite, was observed in both Phase I drill holes although no significant copper assays were returned. For additional details on the Phase I RC drilling results, refer to Cascada's November 20, 2024 press release.
The first Phase II drill hole, DAAS-03, planned for a depth 500 metres, has been collared to test the extension of the mineralization encountered at the end of drill hole AAS-02 (see Figure 1) which was terminated at 176 metres. The two +150 ppm molybdenum centres of the larger 800 by 1,500 metre anomaly will be targeted by the second and third drill holes with the location of the final hole to be determined upon reviewing the visual results from the first three holes.
Commenting on the start of diamond drilling, Carl Hansen, Cascada's President and CEO stated, "The goal of the Phase II program is to drill through the molybdenum-rich upper levels of the Angie porphyry system, cut during the Phase I drill program, and into the core of the system where copper mineralization should be more prevalent. Diamond drilling will allow for a more complete understanding of the geology of the Angie mineralization as well as overcoming the technical issues which resulted in each Phase I drill hole being stopped approximately 100 metres short. It is anticipated that the Phase II program will be completed in February 2025 with final assays available 4 to 6 weeks thereafter."
Magnetometer Survey
Cascada recently completed a 132-line kilometer, drone-based magnetometer survey over Angie to assist in geological interpretation and in situating the Phase II drill hole collars. Figure 1, attached, shows the results (differential reduction to the pole) of the magnetic survey. The molybdenum anomalies correspond to areas of elevated magnetic responses which in turn may be related to mineralized intrusives and associated alteration. The magnetics closely outlines the interpreted contact between the Eocene intrusives to the east and the Paleocene intrusives to the west which hosts the porphyry-style mineralization and alteration.
Phase I Drill Program QA/QC Disclosure
Drill holes were drilled using the RC technique and collared with a 5 1/2" diameter bit maintaining a consistent diameter throughout the drilling. Rock cuttings produced by the drill rigs were transported to the surface using compressed air and extracted from the cyclone (or hydraulic cyclone for wet samples) to the splitter by the drill contractor under the supervision of Cascada geologists. Samples were split twice, generating the lab sample, a twin, and a coarse reject. Each sample was weighed, bagged, and identified with tickets following the sampling list prepared beforehand by Cascada personnel. Chip boxes were generated during sample extraction. Subsequently, the bags were sealed and securely stored before being dispatched to lab facilities along with reference materials (standards) used to verify the preparation and analysis of the samples. Quick logging of chips was performed in the field. The bags were then transported from the drill site to the ALS laboratory facility in Copiapo for mechanical preparation, where they were weighed, dried, crushed, and pulped according to the PREP-31 protocol. ALS is an accredited laboratory independent of the company. The prepared samples were sent to ALS laboratories in Santiago, Chile for copper (Cu-AA62) and molybdenum (Mo-AA62). No data quality issues were indicated by the QA/QC program. The RC chip trays were sent to Santiago for detailed logging and secure storage.
NI 43-101 Technical Disclosure
The Qualified Person, as defined by National Instrument 43-101 of the Canadian Securities Administrators, for Cascada's exploration activities in Chile is Sergio Diaz, a resident of Santiago, Chile. Mr. Diaz is a Public Registered Person for Reserves and Resources N° 51, in Chile and is also registered in the Colegio de Geólogos de Chile under N° 315.
About Cascada Silver Corp.
Cascada is a mineral exploration company focused on exploration opportunities in Chile. Cascada's team of successful exploration professionals are dedicated to the discovery of mineral deposits that can be progressed into economically viable development projects creating value for all stakeholders.
This news release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to: plans for the evaluation of exploration properties; the success of evaluation plans; the success of exploration activities; mine development prospects; and, potential for future metals production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: changes in economic parameters and assumptions; all aspects related to the timing of exploration activities and receipt of exploration results; the interpretation and actual results of current exploration activities; changes in project or exploration parameters as plans continue to be refined; the results of regulatory and permitting processes; future metals price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of economic and technical studies; delays in obtaining governmental approvals or financing or in the completion of exploration; as well as those factors disclosed in Cascada's publicly filed documents.
Although Cascada has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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