Toronto, Ontario--(Newsfile Corp. - November 13, 2024) - Cascada Silver Corp. (CSE: CSS) ("Cascada") is pleased to announce that it has received all assays from its recently completed Mina Guanaca Copper Project ("Mina Guanaca") Phase I drill program with significant intervals of copper mineralization encountered in 3 of the 4 reverse circulation ("RC") holes completed. Drill hole GAS-04 returned a 56 metre ("m") interval grading 0.91% Cu including a 20 m interval grading 1.88% Cu (see Table 1) extending the high grade core zone to depth (see figures 1 and 2).
Two drill holes (GAS-02 and GAS-03) cut a new parallel zone of copper oxide mineralization at surface associated with breccias immediately adjacent to the open pit. This new zone is open along strike and to depth and the western limit of this new zone has not been delineated. The zone of oxidization has been outlined to depths of 80 to 100 m below surface.
Table 1 - Summary of Mina Guanaca Phase I Drill Assay Results
| Drill Hole |
From |
To |
Interval |
Cu |
Note |
| (m) |
(m) |
(m) |
% |
| GAS-01 |
14 |
20 |
6 |
0.84 |
Old workings intersected from 20 to 28 m - no samples available.
Final 2 m grades 0.49% Cu |
|
20 |
28 |
8 |
- |
|
28 |
36 |
8 |
0.78 |
| GAS-02 |
4 |
28 |
24 |
0.35 |
New mineral zone associated with the upper portions of mineralization encountered in GAS-04. |
|
60 |
74 |
14 |
0.27 |
|
84 |
92 |
8 |
0.33 |
| GAS-03 |
no significant intervals |
Defines southern limit of breccia mineralization |
| GAS-04 |
0 |
32 |
32 |
0.41 |
New copper zone from surface to 46 m.
Dominantly copper sulphides from 108 to 128 m associated with a microdiorite |
|
38 |
46 |
8 |
0.31 |
|
72 |
128 |
56 |
0.91 |
| including |
108 |
128 |
20 |
1.88 |
| Note: weighted average Cu grades are based on a 0.20% Cu cut-off grade with reported intervals incorporating no greater than 4 m of sub-0.20% Cu internal dilution. With one exception from GAS-01, only intervals greater than 8 m are reported. Reported Intervals are downhole lengths: true widths vary from 40 to 60% of the downhole Interval. |
The copper mineralization is related to fault controlled tectonic breccias which extend upwards from a depth of 75 m funneling outwards to surface. The higher copper grade intervals, such as those cut in GAS-04, are associated with a microdiorite intrusion which extends to depth along the regional fault structure and is related to the breccia formation. The copper-bearing breccias and microdiorite are interpreted to plunge very shallowly to the north coincidental with an approximately 200 by 200 by 300 m induced polarization chargeability anomaly. This northern strike extension represents a significant exploration target for Cascada (see figure 3).
"We are very pleased that the RC drill results confirmed our interpretation that the Mina Guanaca copper mineralization extends along strike to the north and to depth", said Carl Hansen, Cascada's CEO. "With the copper mineralization extending to the north and a new parallel zone of copper oxide mineralization discovered surface, we have clear targets for further exploration with the ultimate goal of outlining an economic deposit. We are reviewing exploration plans including additional geophysics, to better define the targets, along with additional drilling."
Infrastructure in the Mina Guanaca area is excellent with road access and nearby grid electricity available. Elevation is approximately 2600 m above sea level and exploration activities can be undertaken year round.
Summary of Drill Hole Results
Drill hole GAS-01, drilled at the bottom of the Mina Guanaca open pit, returned two intervals of copper oxide mineralization ending in 8 m grading 0.78% Cu where the hole was lost at 36 m. The two intervals were separated by 8 m of no sampling where the drill hole intersected a void related to historic underground workings.
Drill hole GAS-02 returned a number of intervals of lower grade copper mineralization associated with the mineralization observed at the top of GAS-04. This mineralization represents a new zone of copper oxide mineralization just to the immediate west of the open pit. Unfortunately, the dip of the hole steepened significantly when it encountered a fault and is interpreted to have missed higher-grade mineralized intervals cut in GAS-04 (56 m grading 0.91% Cu) and from historical drill hole GR-01 (42 m grading 0.78% Cu).
Drill hole GAS-03 returned no significant intervals of copper mineralization. The drill hole confirmed that the breccia mineralization associated with the open pit does not extend to the south.
Drill hole GAS-04 returned a significant intervals of copper mineralization starting at surface to a depth of 128 m downhole. The new surface mineralization is the same as cut in GAS -02. From 72 m, drilling returned 56 m grading 0.91% Cu including a higher grade 20 m interval grading 1.88% Cu dominantly related to chalcopyrite associated with a microdiorite. The mineral zone remains open down plunge to the north.
GAS-02 through GAS-04 were drilled to depths of over 300 m in order to test induced polarization chargeability anomaly. Despite localized chalcopyrite throughout the drill holes, no evidence of copper porphyry mineralization was observed. Future exploration activities will likely focus on the fault-related copper mineralization.
QA/QC Disclosure
Drill holes were drilled using the RC technique and collared with a 5 1/2" diameter bit, maintaining a consistent diameter throughout the process. Rock cuttings produced by the drill rigs were transported to the surface using compressed air and extracted from the cyclone (or hydraulic cyclone for wet samples) to the splitter by the drill contractor under the supervision of Atacama Silver geologists. Samples were split twice, generating the lab sample, a twin, and a coarse reject. Each sample was weighed, bagged, and identified with tickets following the sampling list prepared beforehand by Cascada personnel. Chip boxes were generated during sample extraction. Subsequently, the bags and Sentry bags were sealed and stored before being dispatched to lab facilities along with reference materials used to verify the preparation and analysis of the samples. Quick logging of chips was performed in the field. The bags were then transported from the drill site to the ALS laboratory facility in Copiapo for mechanical preparation, where they were weighed, dried, crushed, and pulped according to the PREP-31 protocol. ALS is an accredited laboratory independent of the company. The prepared samples were sent to ALS laboratories in Santiago, Chile for copper (Cu-AA62), molybdenum (Mo-AA62), gold (Au-AA24) and silver (Ag-AA62) assaying. No data quality issues were indicated by the QA/QC program. The reverse circulation chip trays were sent to Santiago for detailed logging and secure storage.
Angie Copper Molybdenum Project Update
Final drill assay results from the Angie Project are expected this week and will be press released shortly thereafter. Please review Cascada's October 9, 2024 news release for further information on the Angie Project.
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.
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