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 Magnetics and Amp Zone (CNW Group/Cascadia Minerals Ltd.)
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 gradeson the project to-date, including a 0.9 kg outcrop sample which returned1,065 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."
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.
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.
Cascadia Minerals Ltd. logo (CNW Group/Cascadia Minerals Ltd.)
