Cache Approved For $35,000 Grant By The NBJMAP
June 6, 2013 — TORONTO, CANADA (Source: Cache Exploration Inc) — Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V:CAY), is pleased to announce that the Company has received approval for a $35,000 grant by the New Brunswick Junior Mining Assistance Program (“NBJMAP”). Dr. David Lentz, P.Geo., is a Qualified Person as described in National Instrument 43-101 and is responsible for any technical information contained in this news release.
The NBJMAP grant is for up to $35,000 or 50% of eligible costs up to $70,000 on the Welsford Inner Property. The NBJMAP program is a financial assistance program for junior companies, and provides up to 50% of eligible costs for mineral exploration programs. The NBJMAP provides valuable assistance that increases the probability of finding economically viable mineral resources in New Brunswick.
Mr. Brown, CEO, states: “This grant program by the New Brunswick government confirms that New Brunswick is a mining and exploration friendly jurisdiction that not only encourages but also financially assists junior companies in their quest for discoveries. These grants benefit our shareholders by providing them with $70,000 of exploration programs at a net cost of $35,000. The grants contribute towards our goal which is to focus our financial resources on exploration that we feel has the potential of resulting in a discovery.”
Cache has recently announced the discovery of a molybdenum target at the Welsford Inner Property (see May 13, 2013 news release). The grant is expected to be used to focus on a program to further define this molybdenum target through trenching and/or drilling.
Cache’s property portfolio includes the Welsford Inner Property in New Brunswick, the Cross Hills IOCG Property and the CMI Cross Hills Property in Newfoundland, the Quinn Eskay Property in BC, the White Gold Properties in the Yukon, and the six Nunavut Prospecting Permits.
Get our daily investorintel update
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>