TORONTO, CANADA - January 10, 2013 - Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V: CAY), is pleased to announce the diamond drilling results for a diamond drill hole completed at the Welsford Inner Property in New Brunswick. Dr. David Lentz, P.Geo., is a Qualified Person as described in National Instrument 43-101 and is responsible for the technical information contained in this news release.
Results from the one diamond drill hole program on the Welsford Inner Claims (see Figure 1) have been received and analysed. Cache engaged Vic Progressive Diamond Drilling Inc. of Sussex, New Brunswick to carry out the drilling of a diamond drill hole totalling a length of 346.7 metres and inclined at 45 degrees to test the inferred convergence of the Main Zone Dykes and the Road Zone Dykes (see Figure 2). The converging dyke zones are Yttrium (Y), Niobium (Nb), and Heavy Rare Earth Element (HREE) enriched and have been historically defined both at surface and in drill core. The company's technical team believes that these dykes originate from a source at depth, such as a mineralized sill or cupola.
Figure 1 - Map of The Welsford REE Properties showing the Welsford Inner Claims outlined in red
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Figure 2 - Location sketch for Welsford Inner Claim diamond drill hole
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A total of 24 samples were taken from the drill core and submitted to Activation Laboratories in Fredericton, New Brunswick for sample preparation, followed by analysis at their Ancaster, Ontario facility for Code 1D, Instrumental Neutron Activation Analysis (INAA).
The best REE-bearing sample was from a thin vein of between 2 and 5 mm estimated true width that showed elevated radioactivity relative to the rest of the core. The sample was taken over 13 cm of core length and reported 0.832% total rare earth elements (TREE, includes La, Ce, Nd, Sm, and Eu, as LREE, and Tb, Yb, and Lu as HREE). For complete results, see Table 1 which follows below.
Although the REE mineralization in the 2012 drill hole was scarce, significant molybdenum (Mo) concentrations were identified, including one sample containing 6,900 ppm Mo over a core length of 1.0 metre. These results are considered anomalous and of interest as molybdenum of such significant concentrations have not been previously discovered on the any of the Welsford claims, the molybdenum concentrations are in close proximity to surface having been identified at a depth of only 15.22 metres (true depth, relative to 21.52 metres core depth), and that the anomalous molybdenum concentrations occur locally throughout the hole.
The sampling on the 2012 drill hole was conducted selectively using radiometric readings to identify areas within the drill core with higher potential for REE's. Given the anomalous molybdenum concentrations observed repeatedly throughout the core, the company is thoroughly re-sampling the drill core with the expectation of identifying additional molybdenum mineralization over potentially wider intersections.
Table 1 - Reported assay results from drill hole WI-08
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Cache Exploration has a focus on exploring for REE deposits. Cache is exploring the Welsford REE Properties in New Brunswick, the Cross Hills REE Property and Cross Hills Northern IOCG Property in Newfoundland, and the Nunavut REE Properties. The Company owns a 100% interest in Cache Minerals Inc. ("CMI") through which it now controls the CMI Cross Hill REE Properties, the Quinn Eskay Property in BC, and the White Gold Properties in the Yukon. All of the Cache REE properties are considered to have excellent potential for rare earth element mineralization. The BC and Yukon properties provide a diversity of exposure to exploration potential for copper, silver, and gold.
Additional information is available at www.sedar.com and at www.cacheexploration.com or by contacting Cache at firstname.lastname@example.org or by phone at (416) 867-1101.
Neither The TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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