Company Announcements

VANCOUVER, BC , Oct. 23, 2024 /CNW/ - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) (OTCQB: CAMNF) is pleased to provide final results of 2024 exploration work at its Catch Property in Yukon and PIL Property in BC. Both programs included diamond drilling as well as prospecting and mapping, with the discovery of several new zones of high-grade copper-silver-gold and gold-silver mineralization.

PIL Property 2024 Exploration Highlights – British Columbia

• Cascadia completed two diamond drill holes (1,759 m) at the PIL South target and a property-wide prospecting program evaluating underexplored areas (Figure 1);
• Prospecting at the undrilled Zeus target discovered new high-grade copper-silver mineralization across a 400 x 300 m area and a 100 m vertical extent, with seven outcrop samples returning over 3% copper and 100 g/t silver (Figures 2, 3);
• Highlight samples from Zeus include 12.25% copper with 0.26 g/t gold and 329 g/t silver and 7.13% copper with 0.29 g/t gold and 247 g/t silver (Figures 2, 3);
• Prospecting at the undrilled Ben showing, 2.5 km north-west of Zeus, identified a new300 m long zone of copper-silver mineralization, with a highlight sample returning 10.90% copper with 39.5 g/t gold and 2,680 g/t silver from outcrop (Figure 4);
• Prospecting on a ridge-top 500 m east of the Atlas target returned high-grade mineralization over 100 m, including 5.64% copper with 337 g/t silver and 0.11 g/t gold (Figure 1);
• Drilling at PIL South returned broad intervals of low-grade copper, gold, silver, molybdenum and zinc mineralization, with copper-gold grades increasing towards the bottom of both holes (Figures 5, 6); and
• PILS-24-006 returned 162.00 m of 0.10% copper with 0.05 g/t gold, 7.1 g/t silver, and 0.18% zinc from 749.00 m, including an interval which returned 1.65 m of 1.34% copper with 0.63 g/t gold and 195.0 g/t silver (Figures 5, 6).

Catch Property 2024 Exploration Highlights – Yukon

• Cascadia completed 3,055 m of diamond drilling at Catch in 2024, with 3 holes (1,613 m) in a Phase 1 drill program, and 2 holes (1,442 m) in the Phase 2 program, as well as prospecting work at the Amp zone in both phases (Figure 7);
• The Phase 1 program stepped out 315 m from 2023 discovery hole CA-23-002, with hole CA-24-006 returning 106.00 m of 0.37% copper with 0.22 g/t gold (Figures 8, 9);
• Hole CA-24-010 in the Phase 2 program stepped out 150 m north from CA-24-006 and returned a broad interval of copper and gold mineralization (144.00 m of 0.14% copper with 0.03 g/t gold) (Figures 8, 9); and
• Follow-up prospecting at the Amp zone, where epithermal mineralization returning 1,065 g/t gold with 267 g/t silver was discovered earlier this year, returned additional high-grade results, including 187 g/t gold with 33.9 g/t silver, and 141 g/t gold with 45.2 g/t silver, and has advanced the target to the drill-ready stage.

"Cascadia's 2024 exploration programs were very successful in advancing its Yukon and BC copper-gold projects. Phase one drilling at the Catch project in Yukon greatly expanded the Spark zone by over 500 m in strike length and over 500 m in vertical extent, while prospecting at the undrilled Amp zone, 1 km north of Spark, returned four >1 oz/t gold samples, including a 1,065 g/t gold and 267 g/t silver sample from outcrop. Although phase two drilling at Spark intersected lower grade mineralization in the last two step-out holes, mineralization remains open in multiple directions. We are in the early days of testing one of many targets along a 5 km long trend of mineralization, with priority drill targets at the Amp and Volt zones, as well as stepping out to the west, north and south at the Spark zone," stated Cascadia's president and CEO, Graham Downs.

"Exploration at the PIL project in BC also proved very successful, highlighted by the discovery of the Zeus target, which hosts a drill ready zone of high-grade copper-silver-gold mineralization in outcrop measuring approximately 400 x 300 m across a vertical extent of over 100 m. While drilling at PIL south encountered broad intervals of epithermal mineralization, results suggest we are still distal from a porphyry. We are eager to drill-test the Zeus target and other zones of at-surface high-grade copper-silver-gold mineralization, while we continue to refine our understanding of PIL South and other porphyry targets on the property."

Figure 1 – PIL Property Highlights

Figure 2 – Zeus Zone Map

Figure 3 – Zeus Zone Annotated Photo

Figure 4 – Ben Zone Map

Figure 5 – PIL South Drill Map

Figure 6 – PIL South Cross-Section

Figure 7 – Catch Property Highlights

Figure 8 – Spark Drill Map

Figure 9 – Spark Zone Long Section

PIL Property Exploration, BC

Cascadia's 2024 exploration program at the PIL Property included its inaugural diamond drill campaign, with two holes completed at the PIL South target, as well as comprehensive prospecting across the 131 km² property. The prospecting program collected 408 rock samples and yielded high-grade copper, gold, silver, molybdenum, lead and zinc assays from a variety of targets. Prospecting resulted in the expansion of existing targets and the discovery of extensive areas of new mineralization at the Zeus and Ben targets, as well as on a ridge between Atlas and Copper Cliff.

The Zeus zone is a newly discovered area of widespread copper-silver ± gold mineralization, located 1.5 km south of the Copper Ridge target. The target was first identified by a rock sample collected in 2022 which returned 3.44% copper with 210 g/t silver and 1.13 g/t gold. Crews followed up on this result and collected an additional 85 rock samples. Seven outcrop samples returned over 3% copper with over 100 g/t silver, as well as variable amounts of gold. This sampling has now defined high-grade copper-silver ± gold mineralization in outcrop across a 400 x 300 m area, and a 100 m vertical extent. Mineralization appears to consist of stacked quartz-chalcopyrite-magnetite veins with a consistent north-south orientation. Zeus is drill ready and will be a priority for 2025.

The Ben zone is a historical Minfile occurrence located 2.5 km northwest of the Zeus zone. Crews followed-up on a 2003 sample that returned elevated gold, silver and copper, and collected nine samples in the area. A highlight sample returned 10.90% copper with 39.5 g/t gold, and 2,680 g/t silver from outcrop. Six samples returned greater than 100 g/t silver, five returned greater than 1% copper, and four greater than 1 g/t gold, defining mineralization in outcrop across a 300 m long area.

Follow-up work on a ridge-top between the Atlas and Copper Cliff targets identified high-grade copper-silver mineralization in outcrop, with a highlight sample returning 5.64% copper, 337 g/t silver, and 0.11 g/t gold.

A total of 1,759 m of diamond drilling was completed at PIL South in two holes targeting an induced polarization chargeability target at depth. Both holes intersected a high abundance of sulphide minerals throughout, with broad intervals of low-grade copper, gold, silver, molybdenum, and zinc. Both holes returned increasing copper-gold grades towards the end of hole, suggesting the porphyry target may lie deeper than tested.

Hole PILS-24-006 returned 162.00 m of 0.10% copper with 0.05 g/t gold, 7.1 g/t silver, and 0.18% zinc from 749.00 m, including an interval which returned 1.65 m of 1.34% copper with 0.63 g/t gold and 195.0 g/t silver from 837.35 m. Hole PILS-24-005 returned 121.57 m of 0.10% copper with 0.03 g/t gold, 4.0 g/t silver, 11.6 ppm molybdenum and 0.39% zinc from 463.31 m. The copper-gold-silver-molybdenum-zinc mineralization observed in holes 5 and 6 is dominantly associated with propylitic to phyllic altered basalts of intermediate sulphidation epithermal origin and additional drilling is required to vector into the causative porphyry source.

Table 1: 2024 PIL Drilling Highlights

Catch Property Exploration, Yukon

Cascadia's 2024 exploration program at the Catch property was conducted in two phases, with three holes (1,613 m) drilled in the first phase, and two holes (1,442 m) drilled in the second. Prospecting was also conducted at the Amp zone, where high-grade gold-silver epithermal mineralization was discovered earlier this season, including a sample which returned 1,065 g/t gold with 267 g/t silver from outcrop. For more details on phase one work, see Cascadia's news releases dated July 22^nd and 25^th, 2024.

The phase two prospecting program focused on collecting additional samples and structural data at the Amp zone necessary to prepare for drilling in 2025. Crews collected a further 11 samples in the area around the high-grade discovery, with one returning 187 g/t gold with 33.9 g/t silver, and another returning 141 g/t gold with 45.2 g/t silver. Three more samples returned between 4.05 g/t gold and 9.24 g/t gold. Crews identified a conjugate set of quartz-calcite veins related to the gold-silver mineralization and collected numerous structural measurements to advance the target to the drill-ready stage.

Additional mapping of the Volt zone resulted in a reinterpretation of the potential source of the largest area of surface copper-gold mineralization on the Catch Property, suggesting the bedrock source of the mineralization may occur at a magnetic high target approximately 400 m southeast or up-ice from the 2023 drill holes. The Volt Zone has an average rock grade of 0.32% copper with 0.70 g/ t gold in 258 rocks collected at surface in float over a 500 x 500 m area. The Volt zone remains a top priority drill target for 2025.  

The phase two program included drilling two additional step-out holes at the Spark zone. Hole CA-24-009 stepped out a further 380 m east from CA-24-006, testing a potential extension of mineralization in this direction. The hole returned several intervals of anomalous gold, including 26.36 m of 0.16 g/t gold with 0.05% copper from 237.27 m.

Hole CA-24-010 stepped out 150 m north of CA-24-006 and returned a broad interval of copper and gold mineralization (144.00 m of 0.14% copper with 0.03 g/t gold from 454 m).

While the results of these two holes limit the potential for expansion to the east, the Spark zone remains open to the north, west, south and at depth. Significant intervals of potassic alteration have yet to be encountered and future drilling will continue to vector towards the core of the system. Additional petrographic and hyperspectral work will be undertaken over the winter and will aid in vectoring for the 2025 field season.

Table 2: 2024 Catch Drilling Highlights

QA/QC

Analytical work was completed by ALS Canada Ltd, with sample preparation in Whitehorse, Yukon, Kamloops, BC, and Langley, BC and geochemical analyses in North Vancouver, BC. Core samples were fine crushed before a 250-gram split was pulverized to better than 85% passing 75 microns. Gold was determined for Catch samples by the Au-AA24 procedure which involves fire assay preparation using a 50-gram charge with an inductively coupled plasma-atomic emission spectroscopy finish ("ICP-AES"). Gold was determined for PIL samples by the Au-AA23 procedure which involves fire assay preparation using a 30-gram charge with an ICP-AES finish. Multi-element data for 48 elements was determined for all samples by the ME-MS61 procedure, which involves a four-acid digestion followed by ICP-AES and inductively coupled plasma-mass spectrometry.

Overlimit values for gold were determined by the Au-GRA21 procedure which involves fire assay preparation using a 30-gram charge with a gravimetric finish. Overlimit values for copper, silver, lead and zinc were determined by the ME-OG62 procedure which involves a four-acid digestion followed by ICP-AES analysis. Further overlimit values for silver were determined by the Ag-GRA21 procedure which involves fire assay preparation using a 30-gram charge with a gravimetric finish.

Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream of diamond drill samples to ensure integrity of the assay process. All diamond drill samples included in this news release have passed the QA/QC procedures as described above. All assay intervals presented in this news release are uncut. Core was sampled using a diamond saw, with half of each interval sent to the lab for analysis, and the other half retained.

Results referenced in this release represent highlight results only. Below detection values for gold, copper, silver, molybdenum, lead and zinc have been encountered in drilling, rock and soil samples in these target areas.

The technical information in this news release has been approved by Adam Coulter, M.Sc., P.Geo., VP Exploration for Cascadia and a qualified person for the purposes of National Instrument 43-101.

About Cascadia

Cascadia is a Canadian junior mining company focused on making new copper and gold discoveries the Yukon and British Columbia. Cascadia's Catch Property in the Yukon hosts a brand-new copper-gold porphyry discovery where inaugural drill results returned broad intervals of mineralization, including 116.60 m of 0.31% copper with 0.30 g/t gold. Catch exhibits extensive high-grade copper and gold mineralization across a 5 km long trend, with rock samples including 3.88% copper with 30.0 g/t gold and 1,065 g/t gold with 267 g/t silver.

In addition to Catch, Cascadia is exploring the PIL Property in the Toodoggone region of British Columbia, which hosts numerous porphyry copper-gold and epithermal gold targets. Multiple high-grade showings at PIL have yet to be drilled, with rock samples including 12.25% copper with 329 g/t silver at the Zeus zone, 10.90% copper with 39.5 g/t gold and 2,680 g/t silver at the Ben zone, and 489.71 g/t gold with 6,514 g/t silver at the Atlas zone. Work is also ongoing at the Mack's Copper and Milner properties – recently staked Catch analogues within Yukon's Stikine Terrane – as well as the Sands of Time property in the Yukon, all of which have additional copper porphyry targets. Cascadia has approximately 53 million shares outstanding and its largest shareholders are Hecla Mining Company, Michael Gentile and Barrick Gold.

On behalf of Cascadia Minerals Ltd.

Graham Downs, President and CEO

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Cautionary note regarding forward-looking statements:

This press release may contain "forward-looking information" within the meaning of applicable securities laws.  Readers are cautioned to not place undue reliance on forward-looking information.  Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release.  The Company undertakes no obligation to update forward-looking information, except as required by securities laws.

SOURCE Cascadia Minerals Ltd.