Cascadero Receives Technical Report on Jovan Gold-Copper Prospect in Ontario
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/10/12 -- Cascadero Copper Corporation (TSX VENTURE: CCD) -
JOVAN SURVEY HIGHLIGHTS
The Company received a Technical Report on the JOVAN copper gold prospect from Toronto based Matrix GeoTechnologies Ltd. The report details the geophysical report and integrates MMI geochemical data supervised by Mount Morgan Resources Ltd.
The JOVAN property is located about 40 kms east northeast of the city of Sudbury, an area with excellent infrastructure. The property is wholly within Davis Township and is approximately 4.9 kms east west by 1.6 kms north south (approx. 800 hectares) and is road accessible. The Cascadero exploration is on the western most part of the claim block. The property is within a belt of past gold producers that extends from northeast of the Sudbury Basin to Espanola some 120 kms to the southwest.
Exploration history in the area dates to 1913. In early days, work was by private owners. In the 1930s to the 1980s larger Canadian companies, (including Consolidated Mining and Smelting Company of Canada, Noranda, Falconbridge, Kerr-Addison, and Currie-Rose), conducted several campaigns in the area. Notable former producing mines close to JOVAN are Norstar and Scadding.
Cascadero entered into an Option Agreement to acquire a 100% interest in the JOVAN gold-copper (the Brady Option), which consists of 29 contiguous units that are in good standing. The Brady Option agreement provides for cash, share issuances and a work commitment over a four-year term. The Property is subject to a 3% net smelter return royalty on precious metal (the "NSR"), 50% of which can be purchased for cash.
Cascadero exploration amounts to approx. C$230,000 to date, which includes due diligence, geochemistry, geology, mapping, sampling and IP/Res/Mag geophysics and related reports.
The Company is evaluating the Matrix Report with a view to identify 12 to 20 drill collar locations in planning for up to 4,000 metres of core drilling.
ABOUT CASCADERO COPPER
Cascadero Copper is an integrated prospecting and mineral exploration business. The Company has offices in North Vancouver, BC, Sudbury, Ontario and Salta City in the province of Salta, Republic of Argentina. The Company generates, acquires and explores mineral properties. Exploration is currently active in Ontario and Argentina.
The Company has several copper-gold porphyry prospects in the Toodoggone Project in north central British Columbia, which adjoins the Kemess Mine property now controlled by AuRico Gold. Cascadero holds a 100% in the Toodoggone Project. The Company holds a 100% interest in 17 volcanic and intrusive hosted gold properties in the Sudbury, Swayze and Timmins camps of Ontario and holds a 50% interest in SESA Holdings LLC (Nevada), which holds a 100% interest in Salta Exploraciones SA. Salta has a large high-quality property portfolio organized into 14 project areas consisting of 226,000 hectares in north western Argentina.
Cascadero's commodity focus is gold, silver and base metals, which are hosted in large-scale mineral bulk mineable open pit systems.
In 2011 and 2012, Cascadero and Salta plan to initiate development drilling on Las Burras, a new Cu-Mo-Au porphyry discovery, twin historic holes and drill several new core holes on the Pancho Arias Cu-Mo-(Au) deposit and drill test Incahuasi an undrilled large-scale Cu-Mo-Au porphyry prospect with excellent geochemistry and a compelling geophysical anomaly. There is an undrilled sediment hosted gold and silver-rich mineral system peripheral to Pancho Arias and Incahuasi porphyry.
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Cascadero Copper Corp.
Bill McWilliam
Chief Executive Officer
Office: 604-924-5504 or Cell: 604-999-0391
AJF Consultants
Alan or Janice Feldman
Office: 604-948-9663 or Cell: 604-377-2942
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Datum: 10.01.2012 - 14:00 Uhr
Sprache: Deutsch
News-ID 102672
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contact information:
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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"Cascadero Receives Technical Report on Jovan Gold-Copper Prospect in Ontario"
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