World Class Gold ProjectCache Exploration Inc.
Company Overview
Cache Exploration, Inc. is a Canadian exploration company. It is worth noting that the company engages in the acquisition, exploration, as well as development of several mineral properties throughout the country. Cache Exploration, Inc. was founded on Oct 3, 2005, and has its headquarter in Delta, Canada.
The company either develops these properties further or disposes of them when the financial evaluation is completed. It is worth mentioning that the company holds an interest in the important Kiyuk Lake Gold Property.
The property is located in Nunavut. This is the company’s principal property and consists of about 70 mineral claims. These cover an area of about 590 square kilometers, which is impressive. You can access Kiyuk Lake by air or by an ice runway in winter. During summer, you can access it by floatplane.
The best thing about the drill campaign is that since 2011 every campaign has discovered a minimum of one new gold zone. Note that it indicates that this area has terrific potential. Did you know that to date, some of the best drill results are 36m at 4.95 g/t of gold from about 134m as well as 38m at 4.2 g/t of gold right from the surface? Another positive aspect of this property is that many parts of the known zones haven’t been untested by drilling. Also, the company is yet to drill four target areas. This shows potential significant expansion on this property.
The good news is that the 2017 drill program confirmed as well as extended a known target, discovering considerable gold mineralization at a relatively new target location, East Gold Point.
Value Proposition
It is worth noting that long-term shareholders of Cache Exploration Inc. have enjoyed a 100 percent share price increase over the past 5 years, which is remarkable. This growth is well in excess of the standard market return of about 0.9% (excluding dividends).
Shareholder Approval for the Kiyuk Lake Property Transaction
This was another significant development for the company. The shareholders of Cache Exploration Inc approved the acquisition in which Cache Exploration acquired 100% interest in the important Kiyuk Lake Gold Property that is located in southern Nunavut. Keep in mind that the company filed a NI 43-101 technical report. This was done to support the technical disclosure for the transaction.
Did you know that significant past exploration, starting in 2008 with Newmont Mining and more recently with Cache Exploration in 2017, have resulted in more than 13,000 meters of core drilling as well as delineation of 4 valuable mineralized zones? The company also discovered five more high priority target regions, which is excellent and encouraging for investors. The company traced mineralization across a long 13-kilometer strike length that is open in all the directions.
It is worth noting that the main focus of this exploration to date has been mainly on the high-grade Rusty zone. And in 2017, drilling within the Rusty zone managed to return broad and profitable intercepts of gold mineralization.
Geological Setting
Did you know that gold mineralization is usually associated with many minerals? Some of them are pyrite, magnetite, pyrrhotite, and arsenopyrite. It is worth noting that the mineralization takes place in Proterozoic sedimentary rocks. These rocks overlie the Archean basement. Keep in mind that Kiyuk Lake has a structural basin. This basin was formed because of the Archean and Proterozoic rocks folding in and faulting during the Trans Hudson Oregon.
Experts argue that the folding and faulting of these rocks are associated with gold mineralization in this area. However, they don’t know the precise time when the mineralization and the magmatic event happened.
Exploration
The good news for the company is that 80% of all drilled holes have good mineralization. The company is yet to drill and test four target areas. Also, keep in mind that several boulder as well as anomaly trends necessitate further drilling.
The company has already completed prospecting, airborne magnetic, mapping, as well as regional and grid sampling. Another encouraging thing is that Cache Exploration has used proven and reliable exploration techniques, such as ground magnetic and till geochemistry, to better define its drilling targets. The company is also ready for winter drilling. This is an ideal time for drilling as logistical costs are usually at their lowest, which is excellent.
Management Team
Jack Bal (Chief Executive Officer and Director)
Cache Exploration’s CEO and director is Jack Bal. He is a talented business executive and has more than fifteen years of diverse experience in the public markets and resource industry, which is excellent. Note that he has also been involved in management, capital markets, public relations, and advertising and marketing in the modern resource sector.
He has contacts in the US, Canada, and Europe. You will be pleased to know that he has also raised more than $50m for various new resource companies and businesses in the fields of gas and oil, mining, as well as high technology, which is remarkable.
Chris Pennimpede (Project Geologist)
Mr. Pennimpede is the project geologist for Kiyuk Lake Property. Led by several successful gold and copper exploration projects in Yukon, Nunavut and Alaska.
Ian Graham (Company Director)
Mr. Graham is the company director and is a career mining professional. He has more than 20 years of experience in the exploration as well as the development of several mineral deposits, gained with Anglo American and Rio Tinto.
Note that he was the Chief Geologist and spearheaded the crucial Project Generation Group when he was at Rio Tinto. Mr. Ian has also been involved in pre-development and evaluation work on many projects. Some of them are the Diavik Diamond Mine, Eagle Nickel, Resolution Copper, Bunder Diamond, and Lakeview Nickel.
Charn Deol (Company Director)
Mr. Deol is a director at Cache Exploration. He has more than 35 years of experience in the international financial markets. Note that Mr. Deol currently serves on the boards of both private and public companies as either a director or in a management capacity.
His present and past experience include providing consulting and management services to companies, investor relations, project analysis, technical market analysis, as well as the financing of many international projects. Mr. Deol also has extensive and relevant experience in global business development. He was previously a senior partner in a profitable futures-trading firm with successful operations in both Asia and Canada, and this makes him suitable for this position.