Toronto, Ontario--(Newsfile Corp. - October 9, 2024) - Cascada Silver Corp. (CSE: CSS) ("Cascada") is pleased to announce the completion of its Phase I drill program at the Angie Copper Molybdenum Property ("Angie") located in Region III, Chile 85 kilometres east southeast of the City of Copiapo. The reverse circulation ("RC") drill program was successful in confirming the presence of a mineralized porphyry system with characteristic alteration assemblages and sulphide mineral zonation (see Figure 1).
Two RC holes were drilled with neither reaching their targeted depth of 300 metres due to significant water inflow negatively impacting the collection and sampling of RC chips. Drill hole AAS-01 and AAS-02 were drilled to depths of 210 metres and 176 metres, respectively.
Despite not reaching the target depths, the drilling confirmed the presence of classic copper porphyry alteration from propylitic to potassic along with a zonation of sulphide mineralization, from a halo of molybdenite through to chalcopyrite, pyrite and bornite associated with potassic alteration.
Throughout the top 100 metres of each drill hole, molybdenite mineralization was observed locally occurring as fracture fillings and disseminations within quartz veinlets cutting dacitic and granodioritic to dioritic intrusions. Further, molybdenite was observed in the fines being washed out of the drill hole (see Figure 2). Chalcopyrite and pyrite were observed in both drill holes below 100 metres downhole with the chalcopyrite to pyrite ratio increasing to depth. The last 4 meters of AAS-02 displayed strong potassic alteration with up to 30% hydrothermal biotite developed within a granodiorite with fine to medium-grained chalcopyrite, pyrite and bornite.
"We are very excited with what we have seen from the Angie drill program despite being unable to drill to our target depth," said Cascada's CEO, Carl Hansen. "The visual evidence confirms our theory that a mineralized porphyry system underlies the 1.0 by 1.5 kilometre molybdenum geochemical anomaly at Angie with alteration intensity and sulphide mineralization increasing to depth. Assays are anticipated towards the end of November. Future drilling at Angie will necessitate the use of a diamond drill rig in order to maintain sample integrity due to the amount of water encountered.
Cautionary Note: While visible copper and molybdenum bearing sulphide mineralization has been observed in RC drill chips from the Phase I Angie program, there can be no assurance that economically viable grades are present. Assaying is necessary to determine the grades of the samples collected.
For further details on the Angie Property, please review Cascada's February 15, 2023 press release.
NI 43-101 Technical Disclosure
The Qualified Person, as defined by National Instrument 43-101 of the Canadian Securities Administrators, for Cascada's exploration activities in Chile is Sergio Diaz, a resident of Santiago, Chile. Mr. Diaz is a Public Registered Person for Reserves and Resources N° 51, in Chile and is also registered in the Colegio de Geólogos de Chile under N° 315.
About Cascada Silver Corp.
Cascada is a mineral exploration company focused on exploration opportunities in Chile. Cascada's team of successful exploration professionals are dedicated to the discovery of mineral deposits that can be progressed into economically viable development projects creating value for all stakeholders.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to: plans for the evaluation of exploration properties; the success of evaluation plans; the success of exploration activities; mine development prospects; and, potential for future metals production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: changes in economic parameters and assumptions; all aspects related to the timing of exploration activities and receipt of exploration results; the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; the results of regulatory and permitting processes; future metals price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of economic and technical studies; delays in obtaining governmental approvals or financing or in the completion of exploration; as well as those factors disclosed in Cascada's publicly filed documents.
Although Cascada has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepts responsibility for the adequacy or accuracy of the content of this news release.
Figure 1. A Comparison of Angie Mineralogy to the Alteration Assemblages and Sulphide Mineralization from a Classic Porphyry Copper System.
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Figure 2. Angie Project - Molybdenite (blue grey) Washed from the RC Drill Rig (AAS-01)
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226125
