EDITOR: | August 19th, 2013 | 1 Comment

Positive 2013 Results from Cache’s Quinn Eskay Gold-Silver-Copper Property Includes a Bedrock Grab Sample Reporting 32.6 g/t Gold and 285.0 g/t Silver

| August 19, 2013 | 1 Comment
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Cache-ExplorationAugust 19, 2013 (Source: Cache Exploration Inc.) — Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V:CAY), is pleased to announce very positive results from the 2013 sampling and prospecting program completed on the 100% owned Quinn Eskay Gold-Silver-Copper Property located north of Stewart, B.C. (see August 12, 2013 news release with photos). 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 world class Skeena mining district of British Columbia known to host numerous deposits which include the Doc Property adjoining the Quinn Eskay Property on the north, the Granduc Property with access road and tunnel to within 5 km of the Quinn Eskay Property, the Scottie Gold towards the east on the access road to Granduc, the Premier and Silver Coin also on the road to the Scottie north of Stewart BC, the Eskay Creek towards the north, and Pretivm’s Valley of the Kings Property approximately 25 km towards the north-northeast which recently reported 5.8 metres of drill core containing 2,567 g/t Au (July 23, 2013 Pretivm news release). Many of these local deposits are characterized by quartz veins rich in gold, silver, and sulphides that are interpreted to be similar to those at Quinn Eskay.

Of the 32 rock samples collected, 5 were collected from float and all remaining samples were collected from bedrock, including 14 composite grabs, 8 chip samples, and 5 samples from test pits. It is interpreted that all of the samples which were collected are from or near quartz veins along the same linear trend, which originate from an east-west trending shear zone of differential dilatency. This shear zone was observed as semi-continuous for a distance of approximately 1 kilometre, bound by samples QE-13-DL-003 at the east and 13-QECG-16A/B at the west. All samples were 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 from the 32 samples are included in a table in Figure 1.

Samples 13-QECG-01 was taken from the likely bedrock source of 2012 highlight sample, 12-QECG-07 which contained 30.7 g/t Au, 159.0 g/t Ag, and 4.47% Cu (Oct 15, 2012 News Release). This source sample was also mineralized, reporting 1.17 g/t Au, 197.0 g/t Ag, 0.06% Cu, and 4.0% Pb. Samples 13-QECG-02, -04, -05, and -06 were collected from test pits along strike with 13-QECG-01. Sample 13-QECG-04 reported the highest grades from the test pits with 0.35 g/t Au, 33.0 g/t Ag, 0.10% Cu, and 0.24% Pb.

Samples 13-QECG-03 and -07 through -10, -17, and -18 were collected from various outcrops of a mineralized quartz vein that trends 110 degrees, towards the west of the 2012 highlighted sample. Highlights from these vein grab samples include:

  • 8.18 g/t Au, 87.5 g/t Ag, 0.28% Cu, 0.59% Pb, 0.184% Zn (13-QECG-07)
  • 3.89 g/t Ag, 1.46% Cu, 0.35% Pb (13-QECG-09)
  • 32.6 g/t Au, 285.0 g/t Ag, 0.30% Cu, 0.56% Pb, 0.155% Sb (13-QECG-10)
  • 1.55 g/t Au, 156.0 g/t Ag, 0.52% Pb (13-QECG-18)

The samples taken from the furthest west point sampled were from a large outcrop of mineralized quartz vein which is exposed for approximately 100 metres along strike. The vein was cut by several small-displacement dextral faults (up to 20 metres displaced); nevertheless, up to 40 metres of exposed outcrop was identified. Grab samples and chip samples were taken from various points along this vein. Highlights from this area include:

  • 1.26 g/t Au, 151.0 g/t Ag, 6.78% Pb (13-QECG-11)
  • 1.49 g/t Au, 120.0 g/t Ag, 4.16% Pb (chip along 65 cm (13-QECG-12A)
  • 2.33 g/t Au, 133.0 g/t Ag, 5.59% Pb (13-QECG-13)

Samples QE-13-DL-001 through -006 were taken towards the east of the 2012 highlighted sample and were taken to follow up on an area of interest identified in 2011. Highlights from these angular float samples include:

  • 1.4 g/t Au, 125.0 g/t Ag, 0.69% Cu, 6.81% Pb (QE-13-DL-003)
  • 5.82 g/t Ag, 0.38% Pb (QE-13-DL-005)
  • 2.31 g/t Au, 22.7 g/t Ag, 0.21% Pb (QE-13-DL-006)
  • 4.16 g/t Au, 23.7 g/t Ag (QE-13-DL-001)

The results of the 2013 sampling program at Quinn Eskay are very positive and highly encouraging. They highlight the potential for the property to host a polymetallic gold-silver deposit. Whereas the 2012 sampling program successfully identified significant mineralization at Quinn Eskay, the 2013 program further advanced upon the success of the previous year by identifying additional high-grade gold-silver mineralization and narrowing in on areas of interest while also expanding the area of known mineralization.

Given that no drilling has yet been completed on the property and that the interpreted shear zone extends beneath the snowy surface, mineralization remains open at the eastern extent and towards the west the shear zone can be traced for up to another 100 metres before being displaced by a fault. Given evidence of right-lateral faulting, displacing the zone further north/northeast, the continuation of the western extents may lie under the snowy surface to the north/northeast (see Figure 3). Given the highly encouraging results of the 2012 and 2013 sampling programs, the company will be planning for the potential follow-up work program to include additional prospecting and bedrock mapping of the area, induced polarization (IP) surveying to identify the locations of sulphide-rich zones, and identifying potential drill targets in the area. Potential diamond drilling would be carried out after the successful identification of IP anomalies.

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 info@cacheexploration.com 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 map of the Quinn Eskay Property within the Stewart-Skeena Mining District

chache news release 0819 2013 1

Figure 2 – Table of rock sample results of the 2013 program

chache news release 0819 2013 3

Highlighted in BOLD : Au over one third g/t, Ag over 20 g/t, Cu over one quarter %, Pb over one half %,  Zn over 1,000 ppm, Bi over 200 ppm, and Sb over 100 ppm

FIGURE 3 – Map showing locations and highlights of rock samples from the 2013 program

chache news release 0819 2013 2


Raj Shah

Editor:

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>


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Comments

  • J. Best

    I have been waiting for these results! Good news for Cache shareholders. Now lets hope the gold/silver market continues to make improvements..

    August 20, 2013 - 9:51 AM

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