VANCOUVER, BC, Dec. 31,
2024 /CNW/ - Cascadia Minerals Ltd.
("Cascadia") (TSXV: CAM) (OTCQB: CAMNF) announces that it
has decided not to continue its PIL and Sands of Time
Property options.
Work at the PIL Property in BC included property-wide
prospecting, geophysics and drill testing the PIL South target at
depth. While several interesting anomalies were identified by this
work, the PIL South drilling did not encounter significant
copper-gold mineralization, and Cascadia does not feel there is a
viable target to justify the 2025 work expenditure
requirements.
The Sands of Time property hosts large molybdenum-in-soil
anomalies, with smaller coincident zones of elevated
copper-in-soil, which could be representative of a porphyry with a
copper-depleted leached cap. Identifying coincident gold-in-soil
was an important goal for Cascadia in 2024 and unfortunately, soil
sampling returned only subdued gold values and suggests there is
not a gold bearing porphyry at surface.
"We are proud of the work we completed to efficiently and
cost-effectively assess these projects under option, however at
this time neither project meets the corporate objectives of
Cascadia," said Cascadia's President & CEO,
Graham Downs. "With our recently
completed financing, we will focus work in 2025 on continuing to
explore our flagship Catch property, where drilling has discovered
a brand-new copper-gold porphyry, and a new high-grade
epithermal gold-silver outcrop has yet to be drill tested. Work
will also continue to advance our 100%-owned Mack's Copper and
Milner properties, which have similar geological potential to
Catch. We look forward to providing more details about our 2025
exploration plans early in the new year."
About Cascadia
Cascadia is a Canadian junior mining company focused on making
new copper and gold discoveries the Yukon and British
Columbia. Cascadia's flagship 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 returning peak values
of 3.88% copper and 30.00 g/t gold.
In addition to Catch, Cascadia is conducting exploration work at
its Mack's Copper and Milner properties – recently staked Catch
analogues within Yukon's Stikine
Terrane which have additional copper porphyry targets. Cascadia has
approximately 70 million shares outstanding and its largest
shareholders are Hecla Mining Company, Michael Gentile and Barrick Gold.
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.
On behalf of Cascadia Minerals Ltd.
Graham Downs, President and
CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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.