(TheNewswire)
Vancouver, British Columbia / TheNewswire / April 3,
2019 - Cache Exploration Inc. (the “Company”, or “Cache”), (TSX-V:CAY) is pleased to announce that a Land Use Permit
(LUP) has been issued by the Crown-Indigenous Relations and Northern Affairs Canada for its Kiyuk Lake Gold project.
The Land Use Permit allows the Company to finalize planning for its 2019 summer drill program with its joint
venture partner, Margaret Lake Diamonds.
All Permits in Place
The new LUP, in conjunction with the previously issued water use permit, provides all the necessary permits to
conduct drilling and other mineral exploration related activities. The new permit is effective until April 2024 and covers all of
Cache’s claims and leases across its 590 square kilometer property located in the Kivalliq Region of Nunavut.
CEO, Jack Bal Comments,
"This new land use permit provides complete flexibility in planning and carrying out long term exploration
across the entire property during both winter and summer for the next 5 years.”
About Cache Exploration’s Kiyuk Lake Gold Property
The Kiyuk Lake Property covers 590 square kilometers in Kivalliq Region - Southwest Nunavut. The
2017 drill program confirmed and extended a known target and discovered significant gold mineralization at a new target area, East
Gold Point (see Company Press Release, October 26, 2017).
At Rusty Zone the Company not only confirmed that mineralization extends to 200m below surface but
also intersected a previously unknown high-grade phase of 8m of 26.4 g/t gold. At the same time, the Company discovered extensive
mineralization at East Gold Point with 64 m at 1.5 g/t gold and 10 m at 6.5 g/t gold.
Prospecting returned two +5 g/t gold samples and the till campaign isolated two new anomalous areas
that offer compelling evidence for further possible discovery.
Kiyuk Lake 2017 Drilling Highlights
-
KI17-001 at Rusty Zone returned 8m at 26.4 g/t gold from 108m
KI17-004 at Rusty Zone returned 122m at 1.8 g/t gold from
188m
KI17-005 at newly discovered East Gold Point Zone
intersected:
Prospecting samples returned:
Please click http://cacheexploration.com/CAY-NR-10-26-17 to view:
-
Plan map of the Rusty Zone and East Gold Point
Detailed section showing the recent KI17-004 drill results
Plan map of the East Gold Point Zone
Detailed section showing the recent KI17-005 drill results
Maps of rock and till sampling results
Qualified Person
Chris Pennimpede, P. Geo., Vice President, Exploration and Director for the Company is a Qualified
Person as defined by National Instrument 43-101, has reviewed and verified the technical mining information provided in this
release.
For more information about Cache Exploration, please visit: http://www.cacheexploration.com/
On behalf of the Board of Directors
Cache Exploration Inc.
“Jack Bal”
Jack Bal
Chief Executive Officer
FOR MORE INFORMATION, PLEASE CONTACT:
Jack Bal
604-306-5285
jackbal@cacheexploration.com
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the
meaning of Canadian securities laws, including statements regarding the Kiyuk Lake Property and the Deep Lake Property: statements
pertaining to the ability of Cache Exploration Inc. (“CAY”); the potential to develop resources and then further develop reserves;
the anticipated economic potential of the property; the availability of capital and finance for CAY to execute its strategy going
forward. Forward-looking statements are based on estimates and assumptions made by CAY in light of its experience and perception of
current and expected future developments, as well as other factors that CAY believes are appropriate in the circumstances. Many
factors could cause CAY’s results, performance or achievements to differ materially from those expressed or implied by the forward
looking statements, including: discrepancies between actual and estimated results from exploration and development and operating
risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including
environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and
dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company’s management on
the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the
time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The
Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of
new information, future events or otherwise.
The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of
the content of this news release
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