Cascadia Minerals (TSXV:CAM) Expands Exploration at Catch Property in Yukon Following 2023 Diamond Drilling Results

Catch Drilling Area. Source: Cascadia Minerals Ltd.

Cascadia Minerals (TSXV:CAM) has recently disclosed the final results of its diamond drilling exploration in 2023 at the Catch Property, a wholly-owned asset situated in central Yukon, Canada. This property, extending over 117 square kilometres, is conveniently located just 10 kilometres from an all-season highway and powerline, falling within the traditional territory of the Little Salmon Carmacks First Nation.

Graham Downs, Cascadia’s President and CEO commented in a press release: “Following our successful 2023 exploration season we are eager to follow-up with an expanded program in 2024. We have already made a significant copper-gold discovery at the Diorite Zone (116.60 m of 0.31% copper and 0.30 g/t gold) and continue to be confident in the potential of the Main Zone due to the abundance of mineralization, and high-level alteration signatures in drill core. Our team is excited to commence the 2024 Diorite Zone expansion drill program and to continue exploring numerous untested targets throughout the recently enlarged property. Cascadia is very well positioned to provide significant shareholder value with continued 2024 exploration success. As a brand-new company with a meaningful new discovery, we look forward to getting the Cascadia story out to a broader audience in 2024.”

The Catch Property, earmarked for its potential mineral wealth, underwent its inaugural diamond drill campaign in 2023. The outcomes of this initial exploration were promising, leading Cascadia Minerals to acquire an additional 227 claims. This expansion increased the property’s size by 46 square kilometres, making the total area of exploration 117 square kilometres. The company is now gearing up for a follow-up drilling program, scheduled to start in the spring of 2024. The commencement of this program is subject to favourable snowfall conditions, with a targeted start around late April or early May.

The 2024 drilling agenda includes a minimum of 5,000 meters of diamond drilling. The primary focus will be on the Diorite Zone, particularly building upon the discovery hole CA-23-002. This hole yielded significant findings, including 116.60 meters of 0.31% copper and 0.30 g/t gold. The 2024 drilling efforts will aim at significant lateral and depth step-outs in regions exhibiting strong geophysical anomalies, with a specific focus on the potassic core of the system.

In 2023, drilling at the Diorite Zone was limited to the westernmost IP section line. This area revealed numerous outcrops with substantial copper grades coinciding with a chargeability anomaly at depth. A stronger IP anomaly located 300 meters east, in a region with limited outcrop exposure, is set to be the focal point of the 2024 drilling. The diamond drill, stationed on an undrilled pad in this eastern IP section, will start with several deep holes in this area, as well as undercutting the 2023 drill holes.

Additional exploration is planned at the Main Zone to further assess the mineralization and locate the bedrock source for future drilling guidance. New IP data will be collected between the Diorite and Main zones, an area where surface copper and gold mineralization was detected in 2023. Prospecting, mapping, and soil sampling will also be conducted across the expanded property to pursue newly identified anomalies and pinpoint additional targets.

The 2023 exploration at the Catch Property comprised five drill holes totalling 2,461.83 meters. The first two holes, drilled at the Diorite Zone, encountered basalt, diorite, and gabbro host rocks with mineralization associated with propylitic to sodic alteration. Copper and gold mineralization were noted along with quartz-carbonate ± pyrite-chalcopyrite veins and disseminated to blebby pyrite, pyrrhotite, and chalcopyrite. The remaining three holes at the Main Zone revealed broad zones of propylitic alteration and evidence of major structures. These holes suggested that mineralization may be emanating from a deeper source, as indicated by elevated copper and gold readings in several faults.

The property’s geology and mineralization point to a significant copper-gold ± molybdenum bearing porphyry system. The Catch area is predominantly composed of augite phyric basalt of the Semenof Formation, centred on a large regional magnetic high. The alteration and mineralization observed suggest the presence of a substantial mineral system, underpinned by secondary copper minerals like malachite, azurite, and tenorite, often found in association with gypsum at surface levels.

Highlights from the results are as follows: 

  • 2023 inaugural diamond drilling resulted in a copper-gold porphyry discovery at the Diorite Zone with Hole CA-23-002 intersecting 116.60 m of 0.31% copper and 0.30 g/t gold (see November 16 news release for details);
  • Drilling at the Main Zone (holes CA-23-003 to -005), located 2 km north of the Diorite Zone, intersected high-level porphyry alteration and anomalous copper-gold values, but has not yet identified the source of extensive copper-gold mineralization in a localized landslide;
  • Additional 227 contiguous claims recently staked to cover additional prospective ground, expanding the Catch property to 117 km2 in size;
  • Drilling has yet to intersect significant potassic alteration, suggesting there is potential to discover higher copper and gold grades in untested areas in the core of the porphyry systems;
  • Planning is underway for an early 2024 follow-up diamond drill program;
  • Systematic property-wide soil sampling has identified numerous additional copper anomalies across the property, as far as 10 km away from the Diorite Zone; and
  • Cascadia will be showcasing Catch core at the upcoming Vancouver Resource Investment Conference (Jan 21-22) and AME Roundup (Jan 22-25) in Vancouver

Table 1: 2023 Catch Assays Result Summary

Drill Hole

From (m)

To (m)

Interval (m)*

Copper (%)

Gold (g/t)

CA-23-001

14.00

347.87

333.87

0.13

0.04

incl.

14.00

59.83

45.83

0.30

0.15

CA-23-002

80.00

515.00

435.00

0.16

0.09

incl.

356.00

472.60

116.60

0.31

0.30

and incl.

357.93

362.00

4.07

0.51

6.03

and incl.

407.00

472.60

65.60

0.40

0.13

CA-23-003**

205.64

209.00

3.36

0.15

0.05

and

226.53

228.00

1.47

0.12

0.04

and

274.00

275.00

1.00

0.16

0.29

CA-23-004**

382.00

385.00

3.00

0.01

2.66

CA-23-005**

No Significant Results

* The reported intervals are drilled thicknesses and true widths are unknown.

** Newly reported holes in this release.

Table 2: 2023 Catch Drill Hole Collars***

Drill Hole

Zone

Easting
(m)

Northing
(m)

Elevation
(m)

Azimuth
(°)

Dip
(°)

Depth
(m)

CA-23-001

Diorite

482,726

6,859,800

735

130

-60

511.83

CA-23-002

Diorite

482,702

6,859,958

772

130

-65

554.00

CA-23-003

Main

482,848

6,861,850

1,034

040

-60

440.00

CA-23-004

Main

482,845

6,861,848

1,030

200

-75

478.00

CA-23-005

Main

482,518

6,861,580

900

040

-60

478.00

*** Easting and Northing are UTM co-ordinates in the NAD 83 datum, zone 8N. Azimuth is with respect to true north.

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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