TORONTO, CANADA - August 8, 2013 - Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V:CAY), is pleased to announce the positive molybdenum results from the recently completed drilling program at the Welsford Inner Property in southern New Brunswick (see Figure 1). This drilling program has been approved for a grant of up to $35,000 under the New Brunswick Junior Mining Assistance Program which represents 50% of the first $70,000 of eligible costs incurred in the drilling program (see June 6, 2013 news release). 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 diamond drilling program, as carried out by Vic Progressive Diamond Drilling Inc. of Sussex, New Brunswick, consisted of a single 182 metre drill hole (see Figure 2). It was drilled towards a 255 degree azimuth and inclined 45 degrees and it encountered visible molybdenite in fractures and veins throughout much of the hole (see July 2, 2013 News Release with photos). Sampling and analyses have confirmed the presence of widespread lower-grade mineralization, including numerous zones of enrichment.
All samples were submitted to Activation Laboratories in Fredericton, New Brunswick for sample preparation, followed by analysis at their Ancaster, Ontario facility for Code-1H instrumental neutron activation analysis (INAA) and aqua regia ICP.
Overall, mineralization in drill hole WI-13-09 consisted of 103.5 metres containing 0.013% Mo from 49.5 metres to 153.0 metres. Within this zone, enriched zones were also noted, including:
4.0 metres containing 0.035% Mo from 49.5 metres to 53.5 metres
10.0 metres containing 0.019% Mo from 89.0 metres to 99.0 metres
15.5 metres containing 0.036% Mo from 110.0 metres to 125.5 metres
9.0 metres containing 0.039% Mo from 144.0 metres to 153.0 metres
Detailed sampling highlights are shown in attached Table 1 and a simplified graphical representation of the drill hole cross section showing mineralized zones is included as attached Figure 3.
Throughout this 103.5 metre zone, molybdenite mineralization is primarily observed filling fractures and as fracture coatings, with only minor stockwork veining, which indicates a strong potential for a primary source of stockwork mineralization at depth. When compared with the results of the 2012 drill hole, DDH-WI-12-08, which was drilled with an azimuth opposite to DDH-WI-13-09, the mineralization in the 2013 drill hole appears to be of lower grade but much more widespread. Based on the overall thickness of mineralization presently open to the north, to the south, and at depth, the company is encouraged by these results and will be reviewing plans for potential follow-up 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.
Additional information is available under the company's profile at www.sedar.com and on the Cache website at www.cacheexploration.com For additional information please contact [email protected]
Neither The TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Figure 1 - Location of the Welsford Inner Property in southern New Brunswick
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Figure 2 - Welsford Inner Property location of soil anomalies, 2012 drill hole, and 2013 drill hole
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Table 1 - Molybdenum mineralization in DDH-WI-13-09.
-------------------------------------- |From (m)|To (m)|Thickness (m)|Mo (%)| |------------------------------------| |49.5 |153.0 |103.5 |0.013 | --------------------------------------
------------------------------------------------------------------- |Including| | | | | | | | | |-----------------------------------------------------------------| |From (m) |To (m)|Thickness|Mo (%)| |From |To (m)|Thickness|Mo (%)| | | |(m) | | |(m) | |(m) | | |-----------------------------------------------------------------| |49.5 |50.5 |1.0 |0.023 | |110.0|111.0 |1.0 |0.015 | |-----------------------------------------------------------------| |50.5 |51.5 |1.0 |0.075 | |111.0|112.0 |1.0 |0.003 | |-----------------------------------------------------------------| |51.5 |52.5 |1.0 |0.028 | |112.0|113.0 |1.0 |0.002 | |-----------------------------------------------------------------| |52.5 |53.5 |1.0 |0.013 | |113.0|114.0 |1.0 |0.013 | |-----------------------------------------------------------------| | | |4.0 |0.035 | |114.0|115.0 |1.0 |0.071 | |-----------------------------------------------------------------| | | | | | |115.0|116.5 |1.45 |0.036 | |-----------------------------------------------------------------| |89.0 |90.0 |1.0 |0.011 | |116.5|117.4 |0.9 |0.005 | |-----------------------------------------------------------------| |90.0 |91.0 |1.0 |0.036 | |117.4|119.0 |1.65 |0.068 | |-----------------------------------------------------------------| |91.0 |92.4 |1.4 |0.030 | |119.0|120.4 |1.35 |0.103 | |-----------------------------------------------------------------| |92.4 |93.4 |1.0 |0.005 | |120.4|121.2 |0.8 |0.002 | |-----------------------------------------------------------------| |93.4 |94.0 |0.6 |0.007 | |121.2|122.7 |1.55 |0.027 | |-----------------------------------------------------------------| |94.0 |95.0 |1.0 |0.013 | |122.7|124.0 |1.3 |0.061 | |-----------------------------------------------------------------| |95.0 |96.0 |1.0 |0.030 | |124.0|125.5 |1.5 |0.013 | |-----------------------------------------------------------------| |96.0 |97.0 |1.0 |0.032 | | | |15.5 |0.036 | |-----------------------------------------------------------------| |97.0 |98.0 |1.0 |0.007 | | | | | | |-----------------------------------------------------------------| |98.0 |99.0 |1.0 |0.010 | |144.0|145.0 |1.0 |0.165 | |-----------------------------------------------------------------| | | |10.0 |0.019 | |145.0|146.0 |1.0 |0.004 | |-----------------------------------------------------------------| | | | | | |146.0|147.0 |1.0 |0.001 | |-----------------------------------------------------------------| | | | | | |147.0|148.0 |1.0 |0.001 | |-----------------------------------------------------------------| | | | | | |148.0|149.0 |1.0 |0.067 | |-----------------------------------------------------------------| | | | | | |149.0|150.0 |1.0 |0.036 | |-----------------------------------------------------------------| | | | | | |150.0|151.0 |1.0 |0.001 | |-----------------------------------------------------------------| | | | | | |151.0|153.0 |2.0 |0.040 | |-----------------------------------------------------------------| | | | | | | | |9.0 |0.039 | -------------------------------------------------------------------
Figure 3 - Cross section showing molybdenum mineralization in DDH-WI-13-09 and DDH-WI-12-08
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