Cache Completes Quinn Eskay Gold-Silver-Copper Property Sampling Program
August 12, 2013 (Source: Cache Exploration Inc.) — Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V:CAY), is pleased to announce that a follow up sampling and prospecting program has been completed on the 100% owned Quinn Eskay Gold-Silver-Copper Property located north of Stewart, B.C. 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 Quinn Eskay Property is located in the favourable Skeena mining district of British Columbia with numerous past producers and deposits undergoing active exploration. Most notably, these include the large volcanogenic massive sulphide deposit at the Granduc Mine (see Figure 1), located approximately ten kilometres south of the Quinn Eskay Property. Granduc historical reports indicate production of over 64,000 ounces of gold, 4.0 million ounces of silver, and 419 million pounds of copper from 1971 to 1984; Castle Resources Inc. intends to bring the Granduc back into production with an indicated 10.4 Mt of 1.25% Cu, 0.14 g/t Au, and 10.6 g/t Ag and an inferred of 36.6 Mt of 1.26% Cu, 0.13 g/t Au, and 9.7 g/t Ag (source: Castle Resources February 21, 2012 news release and public information on Castle Resources website). The Doc Property, which adjoins the Quinn Eskay to the north, is also known as the Gracey. It exhibits similar vein-style mineralization in addition to associated skarn mineralization. It is reported to contain up to 426,337 tonnes of indicated resources grading 9.2 g/t gold and 44.9 g/t silver (source: November 2009 Geological and Geochemical Report on the Eskay Project filed with the British Columbia Ministry of Energy and Mines as an assessment report).
The primary objective of the field program was to follow up on a 2012 float sample that reported 30.7 g/t gold, 159.0 g/t silver, and 4.47% copper (see October 15, 2012 news release). A secondary objective of the program was to conduct an initial prospecting program on the northern claim block that was added in 2012 after the Company received the positive sampling results (see Figure 2).
The exploration team was able to successfully locate what is believed to be the bedrock source of the anomalous mineralized float sample. Sulphide mineralization in the form of pyrite and chalcopyrite was identified in bedrock several metres up-slope from the float sample location. Five test pits were excavated ranging between 1.2 metres and 3.0 metres apart along a distance of greater than 12.0 metres of strike length along the bedrock source and samples were collected from each of the pits (see Figure 3). Sulphides of varying degrees of abundance were observed in each sample. A strong correlation with the regional geological trends was also noted.
Additional prospecting was carried out in the north-central portion of the property along areas that are consistent with the regional trends. Several hundred metres from the identified float mineralization at Quinn Eskay, numerous other sulphide-bearing quartz veins were also noted in bedrock intermittently for a distance of more than 800 metres along strike (see Figure 4). In one area, the 2 metre thick mineralized quartz vein was exposed along a 70 metre trend and minor displacements by faulting were tracked. A strong correlation to the regional geological trends was noted. The veins range in thickness up to 2 metres thick and were noted to contain various concentrations of pyrite, chalcopyrite, galena, and sphalerite mineralization.
A total of 32 samples were collected from the property and submitted to ALS Chemex in Stewart, BC to be prepared and analyzed by 30 g fire assay for gold and Code ME-MS41 multi-element aqua regia, inductively coupled plasma mass spectroscopy (ICP-MS), and inductively coupled plasma atomic emission spectroscopy (ICP-AES) at their facility in Vancouver, BC. Results are expected in late August.
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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.
For additional information please contact the company by email at firstname.lastname@example.org Additional information is also available under the company’s profile at www.sedar.com and on the Cache website at www.cacheexploration.com
Neither The TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Figure 1 – Location of Quinn Eskay Property
Figure 2 – Map showing 2013 sample locations at Quinn Eskay
Figure 3 – Photo of test pits tracing the bedrock source of a float sample reporting 30.7 g/t Au, 159 g/t Ag, 4.47% Cu
Figure 4 – Mineralized quartz vein at Quinn Eskay containing sulphides (pyrite, chalcopyrite, galena, +/- sphalerite), specular hematite
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