VANCOUVER, BC / ACCESSWIRE / December 12, 2018 / Casa Minerals Inc. (TSX-V: Casa; OTC: CASXF; Frankfurt: 0CM) (the "Company" or "Casa") is pleased to announce that recent work on its 100% owned Pitman Property has identified a possibly significant zone of mixed sulphide mineralization in an area located 1 km south of the Company's Golden Dragon ("GD") high grade gold discovery, reported on October 16, 2018. Prospecting, rock and soil geochemical sampling of the newly discovered area that has been named "Dragon Tale" ("DT") returned assays as high as 231 grams per tonne Silver and 6.15% Zinc. Work has not shown limits of the zone but mineralization was found in outcrops in an area of 1.4 km by 0.7 km and possibly-related geochemical soil anomalies continue in all directions.
Mr. Farshad Shirvani, President and CEO, states that "The recent success continues a series of significant discoveries on the 100% owned Pitman Property. We are very pleased with this new mineral zone that is less than 1 km from the Golden Dragon where surface samples as high as 574 grams gold and 109 grams silver per tonne were reported. The new area is easily accessed for further work, including drilling and, possibly, bulk sampling. Considering the close proximity of the discoveries, we are looking at this historic prospect in a new light.".
Casa's Pitman property work since 2008 has included prospecting, geological mapping and geochemical sampling, and has included more than 1009 geochemical soil and 269 rock samples. An airborne geophysical survey was completed in October of this year (results pending data processing). The "DT" zone of mixed sulphides is exposed along a 320 metre length of a recently constructed logging road and irregularly in off-the-road outcroppings. Much of the adjoining terrain is covered by dense forest and by glacial alluvium.
The following table includes analyses of selected samples from bedrock outcroppings:
|
Sample ID |
Type |
Easting |
Northing |
Year |
Ag (g/t) |
Cu (%) |
Pb(g/t) |
Zn (%) |
|
A0038669 |
Rock |
541001 |
6066119 |
2018 |
231.00 |
>1.00* |
1,256 |
6.15 |
|
A0007766 |
Rock |
541016 |
6066095 |
2018 |
181.00 |
2.11 |
1,241 |
0.21 |
|
A0038614 |
Rock |
541137 |
6066146 |
2018 |
73.90 |
0.39 |
73 |
0.24 |
|
A0007599 |
Rock |
541289 |
6066174 |
2018 |
69.60 |
2.83 |
130 |
0.02 |
|
A0007763 |
Rock |
541019 |
6066098 |
2018 |
59.60 |
0.71 |
179 |
7.26 |
|
A0007764 |
Rock |
541032 |
6066068 |
2018 |
51.00 |
0.79 |
276 |
1.67 |
|
A0038604 |
Rock |
541014 |
6066128 |
2018 |
46.50 |
0.75 |
404 |
2.12 |
|
A0007600 |
Rock |
541289 |
6066174 |
2018 |
43.20 |
0.78 |
153 |
0.01 |
|
A0038611 |
Rock |
541050 |
6065968 |
2018 |
39.60 |
0.42 |
58 |
0.03 |
|
A0038623 |
Rock |
540980 |
6066171 |
2018 |
26.80 |
0.18 |
62 |
11.98 |
|
A0007781 |
Rock |
541285 |
6066184 |
2018 |
25.00 |
0.40 |
218 |
0.07 |
|
A0007596 |
Rock |
541285 |
6066189 |
2018 |
24.60 |
1.04 |
37 |
0.01 |
|
A0007787 |
Rock |
541283 |
6066189 |
2018 |
24.00 |
0.56 |
76 |
0.01 |
|
A0007791 |
Rock |
541282 |
6066193 |
2018 |
22.30 |
0.93 |
51 |
0.01 |
|
A0007765 |
Rock |
541036 |
6066047 |
2018 |
22.20 |
0.31 |
224 |
4.36 |
|
A0007777 |
Rock |
541287 |
6066180 |
2018 |
19.90 |
0.18 |
345 |
0.22 |
|
A0007782 |
Rock |
541285 |
6066185 |
2018 |
19.90 |
0.41 |
329 |
0.07 |
|
A0007785 |
Rock |
541284 |
6066187 |
2018 |
10.80 |
0.24 |
44 |
0.00 |
|
A0038606 |
Rock |
540992 |
6066125 |
2018 |
9.80 |
0.14 |
101 |
6.62 |
|
A0007753 |
Rock |
541152 |
6066161 |
2018 |
5.60 |
0.03 |
23 |
7.10 |
|
A0038626 |
Rock |
541152 |
6066160 |
2018 |
4.60 |
0.03 |
17 |
4.67 |
|
A0007762 |
Rock |
541005 |
6066138 |
2018 |
2.90 |
0.04 |
13 |
1.76 |
*Re-assay of over detection limit pending.
The DT mineralization occurs sedimentary horizons in the transition zone from Mid-Jurassic age Smithers formations to Upper Jurassic age Bowser Lake Group rocks. Road cuts expose several mineral-bearing areas of varying dimensions, separated by overburden. Actual thickness and lateral extent are still unknown but, as illustrated in the accompanying drawings, preliminary soil geochemical data suggest that the mineralization may extend far beyond the outcroppings.
The following map shows the location and significant assay results of rock samples of Dragon Tale:
The following three maps illustrate the distribution of Dragon Tale Zinc, Silver and Copper Soil anomalies:
Results from an airborne geophysical survey and a late November follow-up program of sampling have yet to be received.
Parts of Casa's Pitman property are permitted for drilling and the Company has applied to enlarge the permitted area to include this recent "DT" discovery. When property work resumes early in 2019 drilling, and possibly bulk sampling, will be greatly facilitated by existing road access.
QA/QC:
Golden Dragon area samples were taken in the field under the supervision of qualified persons. Samples were placed in suitable plastic bags and rice bag shipping sacks and forwarded by bonded commercial carriers to a testing laboratory with ISO/IEC 17025:2005 accreditation. Rock and soil samples were processed and analysed by industry-standard preparation and processing procedures that yield a homogeneous sub-sample that was then treated by aqua regia digestion and multi-element ICP-MS and ICP-ES determinations. High-grade and over limit samples were re-analysed by methods appropriate to the metal content. The laboratory employs rigorous QA/QC protocols that included replicate analyses, random insertion of samples of pre-determined values, and constant monitoring of instrumentation.
Qualified Person:
Erik Ostensoe P.Geo., a Director of the Company, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure in this news release.
About Casa Minerals Inc.
Casa Minerals Inc. (TSX-V: Casa; OTC: CASXF; Frankfurt: 0CM) is engaged in the acquisition, exploration and development of mineral properties located in Canada. The Company holds a 100% interest in the polymetallic Pitman and Keaper properties and an option to acquire a 75% interest in the Arsenault VMS property.
The Arsenault property comprises eight mineral tenures covering approximately 9,672.5 hectares located in Atlin Mining Division, British Columbia. The Company has conducted several exploration programs on the property and believes that an attractive volcanogenic massive sulphide exploration target is located within its limits. Further work is planned, leading to a program of diamond drilling to test several areas identified by geological mapping, prospecting, and geophysical and geochemical surveys.
The Pitman property comprises five contiguous mineral tenures covering 4,255.6 hectares located 20 kilometres north of Terrace, British Columbia. The property includes several historic prospects, including the Pitman copper-molybdenum-silver prospect, the Gold Dome/WoMo and Paddy Mac gold-base metals prospects and the newly discovered Golden Dragon and Golden Tale multi-metal prospects. Exploration by Casa has been on-going at intervals since 2005. Some parts of the property recently have become accessible as a result of retreat of glaciers and snowfields. Further work will include an airborne geophysical survey and programs of diamond drilling.
The Keaper property, located 20 km northeast of Terrace, British Columbia, comprises five contiguous mineral tenures with area 3,789.5 hectares. Numerous copper occurrences and a possible polymetallic, high grade silver zone are present. Field work is continuing and results will be released when available.
On Behalf of Board of Directors
Farshad Shirvani, M.Sc. Geology
President and CEO
For more information, please contact:
Casa Minerals Inc.
Farshad Shirvani, President & CEO
Phone: (604) 689-9523
Email: [email protected]
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
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SOURCE: Casa Minerals Inc.