(via Thenewswire.ca)
TORONTO, CANADA - May 13, 2013 - Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V:CAY) is pleased to announce that the Company has received positive results from reassaying 2012 drill core for Molybdenum (Mo). Dr. David Lentz, P.Geo., is a Qualified Person as described in National Instrument 43-101 and is responsible for the technical information contained in this news release.
Following the identification of anomalous Mo in drill core (January 10, 2013 news release), Cache completed a review and additional sampling of core from drill hole WI-12-08 drilled in 2012 on the Welsford Inner Property (see Figure 1). An additional 33 samples were submitted to Activation Laboratories in Fredericton, New Brunswick for sample preparation, followed by analysis at their Ancaster, Ontario facility for Code 1D enhanced instrumental neutron activation analysis (INAA).
The positive results of the resampling program combined with the original sampling of the drill core are encouraging. The original core results reported a one metre sample with 0.69% Mo from 21.52 metres to 22.52 metres (Jan 10, 2013 news release). The additional sampling confirms that the molybdenum mineralization is more extensive and includes 3.23 metres from 20.7 metres to 23.93 metres containing 0.24% Mo as well as 2.55 metres from 30.15 metres to 32.70 metres containing 0.10% Mo. Mineralization is potentially open at depth with 0.11% Mo reported near the bottom of the hole from 345.33 metres to 345.72 metres. The mineralization appears to occur as molybdenite (MoS2) concentrated in veins and on fractures, and also disseminated within the granite (see Figure 2).
Table 1 - Notable Mo intersections from 2012 drill hole WI-12-08 at the Welsford Inner Claims
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|From (m)|To (m)|Sample|Mo (ppm)| |From (m)|To (m)|Sample|Mo (ppm)|
| | |Length| | | | |Length| |
| | |(m) | | | | |(m) | |
|-----------------------------------------------------------------|
|19.55 |19.67 |0.12 |209.3 | |42.46 |42.62 |0.16 |229.0 |
|-----------------------------------------------------------------|
| | | | | |43.34 |43.59 |0.25 |156.0 |
|-----------------------------------------------------------------|
|20.70 |21.52 |0.82 |81.0 | | | | | |
|-----------------------------------------------------------------|
|21.52 |22.52 |1.00 |6,900.0 | |52.53 |52.68 |0.15 |658.7 |
|-----------------------------------------------------------------|
|22.52 |22.64 |0.12 |4,020.0 | |53.62 |53.72 |0.10 |1,440.0 |
|-----------------------------------------------------------------|
|22.64 |23.13 |0.49 |15.0 | | | | | |
|-----------------------------------------------------------------|
|23.13 |23.26 |0.13 |2,090.0 | |78.94 |79.13 |0.19 |1,300.0 |
|-----------------------------------------------------------------|
|23.26 |23.64 |0.38 |1.0 | | | | | |
|-----------------------------------------------------------------|
|23.64 |23.93 |0.29 |406.7 | |86.65 |86.77 |0.12 |1,060.0 |
|-----------------------------------------------------------------|
|20.70 |23.93 |3.23 |2,429.2 | | | | | |
|-----------------------------------------------------------------|
| | | | | |209.05 |209.23|0.18 |226.8 |
|-----------------------------------------------------------------|
|24.55 |24.71 |0.16 |404.6 | | | | | |
|-----------------------------------------------------------------|
| | | | | |345.08 |345.33|0.25 |402.0 |
|-----------------------------------------------------------------|
|30.15 |30.27 |0.12 |5,430.0 | |345.33 |345.72|0.39 |1,080.0 |
|-----------------------------------------------------------------|
|30.27 |31.00 |0.73 |5.0 | | | | | |
|-----------------------------------------------------------------|
|31.00 |31.50 |0.50 |5.0 | |345.82 |346.42|0.60 |160.0 |
|-----------------------------------------------------------------|
|31.50 |32.00 |0.50 |160.0 | |346.42 |346.70|0.28 |131.0 |
|-----------------------------------------------------------------|
|32.00 |32.23 |0.23 |7,150.0 | | | | | |
|-----------------------------------------------------------------|
|32.23 |32.70 |0.47 |175.0 | | | | | |
|-----------------------------------------------------------------|
|30.15 |32.70 |2.55 |966.5 | | | | | |
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In addition to the promising results identified in the drill core, the company has evaluated the property's potential by reviewing the concentration of molybdenum in soil from the available soil sampling data. Including soil concentrations up to 74 ppm Mo, two notable Mo soil anomalies have been identified: one in the vicinity of the 2012 drill hole and the other towards the southwest of the 2012 drill hole and west of the 2010 drill hole. The latter soil anomaly contains the highest concentration of Mo in soil on the property with numerous other soil samples also high in Mo following a dispersion trail down slope. These anomalies are potentially contiguous as one large Mo soil anomaly. Two other Mo soil anomalies have been noted in the Welsford Outer Claims within one kilometre of the Mo showings on the Inner Claims (see Figure 3).
Based on the positive Mo results from the 2012 drill hole, the Company is confident there is potential of additional Mo mineralization in the 2010 drill holes. During the 2010-2011 drill program, 937.8 metres of drill core was extracted from seven drill holes; however, 853.55 metres remain unsampled due to the primary focus at the time being the rare earth potential and the identification of dykes. Since the Mo mineralization is separate from the REE mineralization at the property, there is strong potential that additional Mo mineralization could be identified in the 2010-2011 drill holes.
Cache is encouraged by the positive molybdenum results from the Welsford Properties and is currently evaluating multiphase follow-up programs to include:
-Prospecting and hand pitting in high potential areas identified by the soil results
-Trenching over the Mo soil anomalies of the Welsford Inner Claims
-Trenching over the Mo soil anomalies of the Welsford Outer Claims as a follow-up to positive results from trenching at the Inner Claims
-Identifying a drill target on the Welsford Inner Claims opposite the 2012 drill hole
-Relogging and resampling the drill core from the seven holes of the 2010-2011 drill program
Additional information is available under the company's profile at www.sedar.com and on the Cache website at www.cacheexploration.com For additional information please contact the Company at phone (416) 867-1101, fax (416) 867-1222 or by email at info@cacheexploration.com
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Figure 1 - Map of the Welsford Properties in southern NB with the Welsford Inner Claims outlined in red
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Figure 2 - Photos of molybdenite mineralization in drill core from 2012 drill hole WI-12-08
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Figure 3 - Map of the Welsford Inner Claims and surrounding area showing concentrations of Mo in soil
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