Cascadia Provides Yukon and BC Exploration Update
September 9, 2024 – Vancouver, BC – Cascadia Minerals Ltd. (“Cascadia”) (TSX-V: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
For further information, please contact:
Andrew Carne, M.Eng., P.Eng., VP Corporate Development
Cascadia Minerals Ltd.
T: 604-688-0111 ext. 106
acarne@cascadiaminerals.com
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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.
