Cascadia Minerals Ltd. [TSXV-CAM] reported results of the first two diamond drill holes ever completed at its 100%-controlled flagship Catch property in central Yukon, Canada, located 16 km from an all-season highway and powerline, within the traditional territory of the Little Salmon Carmacks first nation.
The Catch property hosts multiple new greenfield discoveries of copper-gold porphyry mineralization within the northern extension of the prolific Stikine terrane from British Columbia’s Golden Triangle. A total of five holes were drilled at Catch in 2023, totalling 2,462 metres. This release contains results from the first two holes (1,066 m), with results from the remaining three holes pending.
Drilling highlights: First diamond holes ever drilled at the Catch property both yielded significant copper-gold mineralization, confirming a new copper-gold porphyry discovery.
Hole CA-23-002 intersected 116.60 metres of 0.31% copper (Cu) and 0.30 g/t gold (Au) from 356 metres downhole, within a broader interval of 435 metres of 0.16% copper and 0.09 g/t gold.
Hole CA-23-001 intersected 45.83 metres of 0.30% copper and 0.15 g/t gold from surface, within a broader interval of 333.87 metres of 0.13% copper.
These holes were drilled 160 metres apart, in the middle of coincident 1,200-metre by 600-metres chargeability and 800-metre by 600-metre magnetic anomalies that are just beginning to be tested.
Drilling has yet to intersect significant potassic alteration, suggesting there is potential to discover higher copper and gold grades in the untested core of the porphyry system.
Results are pending from three additional diamond drill holes at the Main zone, located two km north of these drill holes.
“To have made a significant copper-gold porphyry discovery in the first two holes ever drilled on a project is incredibly rare. We can now focus on expanding known mineralization and exploring for even higher grade zones, whilst simultaneously testing numerous additional targets,” said president and CEO. “Our second hole returned over a hundred metres of 0.31% copper and 0.30 g/t gold, comparable to the resource grade of Newmont’s operating Red Chris open-pit mine in B.C.’s Golden Triangle (measured and indicated open-pit grade of 0.34% copper and 0.28 g/t gold). We have clearly tapped into a large porphyry system and eagerly await results from the remaining three holes that were drilled at the Main zone, two km to the north. Cascadia is the first mover in the underexplored extension of the Stikine terrane in Yukon, and we will utilize Catch as a case study regionally to acquire additional land throughout this compelling new porphyry district, as we prepare for an early 2024 drill program at Catch.”
Soil sampling was also completed across the Catch property to evaluate newly staked areas, with a total of 830 soil samples collected. Multiple anomalies were identified that will be followed-up with prospecting and mapping next exploration season.
The 71 km2 Catch property is in central Yukon, 56 km southeast of the town of Carmacks, in an underexplored part of the Stikine terrane.
Catch is under option from a Yukon prospector, and Cascadia can earn up to a 100% interest, subject to a royalty.
Cascadia’s flagship Catch property is a brand new grassroots discovery that exhibits extensive high-grade copper and gold mineralization across a 5-km-long trend, with rock samples returning peak values of 3.88% copper and 30 g/t gold, and initial drill results returning broad intervals of mineralization, including 116.60 metres of 0.31% copper with 0.30 g/t gold. In addition to Catch, Cascadia is conducting exploration work at its PIL property in British Columbia and the Sands of Time and Rosy properties in Yukon, as well as evaluating additional regional opportunities. Cascadia has approximately 37 million shares outstanding and its largest shareholders are Hecla Mining Company (19.8%) and Barrick Gold (7.6%).