VANCOUVER, BC / ACCESSWIRE / October 17, 2019 / Casa Minerals Inc. (TSXV:CASA)(OTC:CASXF)(Frankfurt:0CM) (the "Company" or "Casa") is pleased to announce the completion of the inaugural drilling program on its 100% owned Pitman property near Terrace, B.C. The 2037 metre drill program included both main prospects of the Pitman Property, Golden Dragon and Dragon Tale. Drill core processing and sampling is nearly finalized; samples are being delivered to an independent laboratory for analysis.
The Golden Dragon prospect area comprises the historic Paddy Mac gold veins that historically were explored by sampling and short underground workings. Gold and copper mineralization has been traced over more than one-half kilometer, including in areas recently exposed by retreat of glacial ice. Casa's rock samples have returned gold values of as much as 574 g/t gold in quartz veins over 1m. Visual inspection of cores showed distribution of narrow quartz veins and sulphide mineralization.
The second part of the Drill program was aimed at the Dragon Tale prospect where in 2018 Casa's reconnaissance work and sampling discovered mixed sulphide mineralization with significant silver, zinc, copper and lead values. Initial work had determined that mineralization extends over more than 600 metres. This year's drilling at Dragon Tale was carried out efficiently as it is at lower elevation and is road-accessible. Principal rock types in core were black carbonaceous argillite and granodioritic dykes. Observed mineralization in the core included chalcopyrite, sphalerite and pyrite with lesser amounts of pyrrhotite. Cores are being sawn and samples will be analysed by an independent laboratory.
The Pitman property has been the focus of Casa's exploration work, including prospecting, geochemical sampling, and a 223 km airborne VTEM™ survey. Much of the property data has been included in recent news releases, including those of 27-08-2019, 25-06-2019, 29-03-2019 and 12-12-2018.
Mr. Erik Ostensoe P.Geo., a director and chief geologist of the Company, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure in this news release.
About Casa Minerals Inc.
The Company is engaged in the acquisition, exploration and development of mineral properties located in Canada. The
Company owns a one hundred percent (100%) interest in the polymetallic Pitman and Keaper properties and has an option to acquire a seventy-five percent (75%) interest in the Arsenault VMS Property. Planning and permitting for exploration of the properties is in progress. The polymetallic Keaper Property is located 20 kilometers northeast of Terrace, British Columbia, and comprises 3,790 hectares.
The Pitman Property comprises seven contiguous mineral tenures covering 5,506 hectares and is located 20 kilometers north of Terrace, British Columbia. The mineral claims of the Pitman Property include several historic prospects, including the Pitman copper-molybdenum ± silver prospect, and the Gold Dome and Paddy Mac gold- base metal prospects.
Casa's field crews have been exploring the Pitman Property for several years and work is continuing with emphasis on further sampling to better define the distribution of gold, copper, silver and molybdenum values. Some parts of the property have only recently become accessible as a result of the retreat of glaciers and permanent snowfields.
Casa's Arsenault VMS Property comprises three mineral tenures covering approximately 2,751 hectares located in the Atlin Mining Division, British Columbia. The Company in recent years has conducted several exploration programs on the Arsenault Property and believes that an attractive volcanogenic massive sulphide exploration target may be located within its limits. Further work is planned, with the objective of proceeding to a drilling program to test several areas identified by geological mapping, prospecting, and geophysical and geochemical surveys.
On Behalf of Board of Directors
Farshad Shirvani, M.Sc. Geology
President and CEO
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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.