Cache Exploration Inc. (
TSX: V.CAY,
CEXPF,
Forum) said Thursday drilling is now in progress at its key project is the Kiyuk Lake Gold Project in Nunavut.
With four holes collared to date, the program has recovered visible gold during detailed logging of drill hole KI17-001 in the Rusty Zone, although assays are still outstanding.
More information can be found
here.
Cache Exploration was in the news recently when the company said it raised $1.5 million from a private placement financing comprised of five million units priced at $0.20.
Kiyuk Lake is a district scale play, covering a majority proportion of the Proterozoic Kiyuk Basin. Gold showings have been reported over a strike length of 15 kilometres.
Full Disclosure: Cache Exploration Inc. is a paid client of Stockhouse Publishing.