TORONTO, CANADA - October 11, 2012 - Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V: CAY), is very pleased to provide an update on the expanded trenching program on several highly encouraging targets on the Welsford REE Properties 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.
The extended trenching program on the Welsford Outer REE Property (see Figure 1) has been completed after exposing approximately 1,500 square metres (see Figure 2) surrounding a cluster of several Heavy Rare Earth Element (HREE) enriched soil anomalies. The trench program was successful in revealing two additional radiometric anomalies reporting up to 1,850 Counts Per Second (CPS), which is four times the background radiation within the trenches. The first anomaly spans an area approximately 60 centimetres by 90 centimetres. The source of this radiometric activity has yet to be determined. The second anomaly is a discontinuous fracture extending over 76 centimetres length and is rimmed with large amphiboles of up to 1 centimetre in size.
The trenching program has been successful in demonstrating that the style of mineralization is similar to that at other locales within the Welsford Outer REE Property. Similar zones of radiometric highs, sometimes associated with fine fracture zones were noted in earlier Welsford Outer REE Property trenches as well (see July 30, 2012 News Release). No new dykes were identified in this most recently exposed trench.
Six channel samples were collected of which five were taken from the trenches and one was from a radiometrically anomalous outcrop nearby. The samples have been submitted to Activation Laboratories' (Actlabs) preparation facility in Fredericton, New Brunswick. The samples will undergo Code 1D-Enhanced Instrumental Neutron Activation Analysis (INAA) at the Actlabs facility in Ancaster, Ontario.
Cache has in place agreements with all landowners affected by the expanded trenching program or required for access and right of way. Cache also filed for and received the approval to proceed from the New Brunswick Department of Natural Resources.
The primary aim of the expanded trenching programs was to fully expose areas that show potential to be the source dyke(s)/sill/cupola in order to thoroughly map and rock sample the areas. The results of the trenching programs will be utilized to assess priority diamond drill targets and to formulate an optimal drill plan. The company also intends to continue prospecting and sampling other areas on the Welsford REE properties, specifically areas that have shown REE and/or radiometric soil anomalies from exploration efforts.
Cache Exploration has a focus on exploring for REE deposits. Cache is exploring the Welsford REE Properties in New Brunswick, the 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 controls the CMI Cross Hill REE Property, 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 [email protected] 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.
Figure 1 - Map of The Welsford REE Properties with the Welsford Outer REE Property outlined in orange
Figure 2 - Photo of a Welsford Outer REE Property trench site looking south towards the St. John River