• Grab Samples show results up to 11.35% Cu, 1.55 g/t Au, 129 g/t Ag, and 0.17% Mo
• Hyperspectral analyses of rock and select core samples indicate an alteration assemblage indicative of a zoned copper porphyry system.
Calgary, Alberta – January 11, 2024. Cascade Copper Corp. (CSE: “CASC”) (“Cascade” or the “Corporation”) is pleased to announce results from a reconnaissance sampling and hyperspectral program at their 90% owned, 2,789 hectare Copper Plateau Porphyry project (the Project) located in south-central British Columbia, Canada. The results indicate a well mineralized and altered system indicative of a copper, gold, silver, and molybdenum enriched porphyry.
Shannon Baird, Cascade’s Vice President of Exploration remarks “I am quite enthused that the results of this preliminary program confirm a well mineralized and altered porphyry system. Although outcrop was not abundant, those that were exposed have returned exceptional results. These results give the Company the confidence to move forward now knowing that the porphyry mineralization at Copper Plateau is well developed and has much room for expansion. We hope to drill at this project in 2024.”
Figure 1: Location of the Copper Plateau Copper-Moly Project in South-Central British Columbia
The Copper Plateau Porphyry project is located in southern British Columbia, between Penticton and Princeton. It is situated south of the former Brenda Copper Mine, which produced 177 million tonnes of ore grading 0.169% Cu and 0.043% Mo between 1970 and 19903. The geological setting is within the Quesnel Terrane which hosts Copper Mountain (1.13Bt @ 0.22% Cu, 0.09 g/t Au, and 0.64 g/t Ag Resource2) about 40km southwest of Copper Plateau and Teck’s Highland Valley Copper Mine (M&I 1.2Bt @ 0.28% Cu and 0.009% Mo Resource1). Kodiak Copper’s MPD project lies 40km west of the Project.
2023 Program Highlights
The 2023 program included reconnaissance prospecting, mapping, sampling, and hyperspectral analysis of samples. A total of 19 rock samples from outcrop and 10 samples of core were analysed with a TerraSpec 3 instrument. A total of 5 grab samples were sent to ALS Minerals in North Vancouver for multi-element analysis, the results are shown in Table 1 below. The highlight of the grab sampling was Sample A0284675 which was of a newly discovered and previously unsampled, at least 30 cm wide quartz vein within a granodiorite with intergrown net texture chalcopyrite (30%), black with bluish incandescence chalcocite (20%) and Mo on fractures perpendicular to trend of the vein (Figure 2). The wallrock also contains disseminated chalcopyrite and limonite iron-oxide alteration.
The results of the hyperspectral analysis and field observations indicate a well defined alteration zonation with a central zone covering the location of a number of the historic drill holes. The potassic central area that is indicative of a higher temperature core of a porphyry system was determined by field observations, while the argillic, propylitic, and smectite alteration halos were defined by TerraSpec 3 analysis (Figure 3).
Sample A0284675 with coarse Chalcopyrite and Chalcocite
Sample A0284675 showing Molybdenite covered fracture
Figure 2: Sample A0284675 returned 11.35% Cu, 1.55 g/t Au, 129 g/t Ag, and 0.17% Mo
Further field observations from the program also identified the Copper Plateau granitoid as a multiphased granite to granodiorite intrusive that is hosted within a large, regional, and distinct potassium feldspar megacrystic granite. The Copper Plateau granitoid shows variations of biotite, hornblende, and magnetite content. Veining within the granitoid includes chlorite and magnetite veins, quartz sulphide veins as stringers, and dense quartz stockwork.
Table 1 Assay Results with Field Notes and Location (NAD83 Zone 10)
Figure 3 Zonation Map of Alteration Types at the Copper Plateau Project.
What does it mean?
The program results show the existence of a zoned porphyry system at Copper Plateau that has significant copper, gold, silver, and molybdenum values that are consistent with other British Columbia copper porphyry systems. This information allows the Company to confidently plan a follow-up exploration program to test the extents of the subsurface mineralization. With the review of historic work, including, soil samples, 3D Induced Polarization (IP) surveys and airborne magnetics that builds on the copper porphyry model, the Company is planning more work in 2024. This will include relogging and hyperspectral analysis of the historic core that has been secured at a facility in Cranbrook BC and a preliminary drill program to test the depth and width extents of the expected mineralization at Copper Plateau.
Sample Analysis Procedure
All rock samples collected were submitted to ALS Canada Ltd. (ALS) at their North Vancouver, BC facility for preparation and analysis. ALS meets all requirements of International Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures. Each sample had a small representative reference sample split out for storage while the remaining bulk was photographed, tagged, and bagged for analysis. Samples were analyzed using ALS’s 30g Fire Assay Fusion method (Au-ICP21) with an ICP-AES finish for gold and by a 48-element four acid digest ICP-MS analysis (ME-MS61) with additional analysis for Ore Grade Elements (ME-OG62) and Ore Grade Cu (Cu-OG62). Results were reported in parts per million (ppm) and converted to percent (%), or grams per tonne (g/t) when applicable.
The Qualified Person responsible for the technical content of this press release is Shannon Baird, P.Geo, Vice President Exploration of Cascade Copper Corp.
1: Teck Resources AIF 2022
2: Copper Mountain NI43-101 Aug 1, 2022
3:Copper Deposits of the NW Cordilleran. CIM Spec. Vol 46
About Cascade Copper
The Corporation is an exploration stage natural resource company engaged in the evaluation, acquisition, and exploration of copper based mineral resource properties. Cascade is focused on copper and gold, porphyry and epithermal deposits in British Columbia. Cascade’s priority is to conduct exploration, including drilling on its flagship Rogers Creek Property located in the Coast Mountain Belt of British Columbia, 90 kilometres northeast of Vancouver, in the Southwest Mining Region. Cascade currently now has five projects, including the Centrefire Copper Project, the Copper Plateau Copper-Moly Project, Fire Mountain Copper-Gold Project, the Bendor Gold Project, and the flagship Rogers Creek Copper-Gold Project.
FOR FURTHER INFORMATION, PLEASE CONTACT:
CASCADE COPPER CORP.
Jeffrey S. Ackert, President and CEO
Vancouver, BC V6E 4A4
Telephone: 1 613 851 7699
E-Mail: [email protected]
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
DISCLAIMER & FORWARD-LOOKING STATEMENTS
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Cascade Copper Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR. Undue reliance should not be placed on “forward looking statements.”