We very pleased to have entered into an agreement to acquire the high-quality Mina Guanaca Copper Property,' said
The copper mineralization at the
Three short programs have been reported on the property for a total of 1,550 metres of drilling: 573 metres in five diamond drill holes (1994, Empresa Nacional de Mineria ('ENAMI')); 10 underground diamond drill holes for 536 metres (1995,
Only copper assays are reported from the drill hole sampling.
A sample from the open pit mineralization, collected by
Historical Results Note: Cascada has not undertaken any independent investigation of any sampling from the
Historical Geophysical Surveys
A 2019 ground magnetic survey over the
An induced polarization survey along 4 lines (5.75 km) was completed in 2019. A chargeability low coincides with Mina Guanaca related to almost complete oxidization of sulphides near surface. The chargeability low extends to the southeast along Profile 3 beneath overburden. At depths of 200 to 300 metres below Mina Guanaca, a significant chargeability high was outlined which is potentially related to sulphide mineralization associated with a porphyry system representing an additional high priority drill target.
Guanaca Project Agreement Terms
Under the terms of the letter agreement, an initial payment of
The current lessee of the mining property, Empresa Minera El Salado Ltda., will be allowed to continue mining operations at a rate of 1,500 tonne per month for a minimum of 12 months.
NI 43-101 Technical Disclosure
About
Cascada is a mineral exploration company focused on exploration opportunities in
Contact:
Tel: 416-907-9969
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 thos
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