Toronto, Ontario--(Newsfile Corp. - December 17, 2024) - Cascada Silver Corp. (CSE: CSS) ("Cascada") is pleased to announce that it has commenced mobilizing equipment for the Angie Copper Molybdenum Property ("Angie") Phase II diamond drilling program. Further, in preparation for the Phase II drill program, Cascada has recently completed a 132-line kilometre drone-based magnetometer survey, the results from which will assist with the final planning of the drill hole locations.
The diamond drill program will follow up on Cascada's recently completed, two hole, reverse circulation drill program which confirmed the presence of a mineralized porphyry system at Angie returning significant mineralized intervals including 26 metres grading 713 parts per million ("ppm") molybdenum with a higher grade, 8-metre interval grading 1,208 ppm molybdenum at the end of drill hole AAS-02 (see Table 1). In addition to molybdenum, which is typically found within the margins and upper levels of copper molybdenum porphyry systems, copper mineralization was observed in the RC chips increasing in content to depth although no significant copper intervals were returned.
Preliminary Phase II plans consider the completion of four 500-metre diamond drill holes within an 800 by 1,500 metre molybdenum geochemical anomaly. The first diamond drill hole will be collared in the area of drill hole AAS-02 (see Figure 1) which was terminated at 176 metres, short of its planned 300-metre depth, due to technical issues. The two molybdenum geochemical centres will be targeted by the second and third drill holes and the location of the final hole will be determined upon reviewing the visual results from the first three holes. Final plans for the drill collar locations are contingent upon a review of the pending magnetometer survey results.
"With our $1 million private placement recently completed, we are preparing to commence Phase II drilling at Angie," said Carl Hansen, Cascada's CEO, "with the goal of drilling through the molybdenum-rich upper levels and into the core of the porphyry system where copper mineralization should be more prevalent. The four hole diamond drill program will enable us to determine the potential of Angie and, while our goal is the discovery of a typical Chilean copper molybdenum porphyry, it should be noted that the molybdenum grades returned from the Phase I RC program were significant and in the range of average grades at the few major molybdenum-dominated porphyries currently under development. Each 500-metre drill hole will take between 10 and 15 days to complete depending upon ground conditions. The drilling is anticipated to be completed during February 2025 with final assays available in early Q2 2025."
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 process. 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
Table 1 - Angie Project, Phase I Drill Assay Results
Drill Hole #
From
To
Interval
Mo
MoS2
Notes
m
m
m
ppm
ppm
AAS-01
54
110
56
410
684
including
58
60
12
588
982
AAS-02
54
118
64
476
785
Quartz diorite porphyry
including
54
62
8
735
1,227
and
76
82
8
745
1,244
150
176
26
713
1,190
Drill hole ends at 176 m. Visible chalcopyrite and bornite at end of hole. Potassic altered monzodiorite.
including
168
176
8
1,208
2,016
Note: weighted average Mo grades are based on a 250 ppm Mo cut-off grade with reported intervals incorporating no greater than 4 m of sub-cut-off internal dilution. MoS2 (molybdenite) values are for reference as many companies quote MoS2 grades. MoS2 are calculated upon a Mo content of 59.9%. Reported intervals are downhole lengths as insufficient data is available to make an accurate determination of true width. 1,000 ppm is equivalent to 0.1%.
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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Figure 1 - Angie Cu/Mo Project Preliminary Phase II Drill Hole Plan and Mo (ppm) Rock Geochemistry
