Cache Exploration Commences Summer Drill Program at Kiyuk Lake Nunavut Gold Project
(firmenpresse) -
Cache Exploration Commences Summer Drill Program at Kiyuk Lake Nunavut Gold Project
May 29, 2017, Vancouver, British Columbia: Cache Exploration Inc. (the Company, or Cache), (TSX-V:CAY) is pleased to announce its summer exploration program at the Kiyuk Lake Nunavut Gold Project commencing mid-July, 2017.
The exploration program will consist of drilling, till sampling and prospecting. This will be the first exploration work at Kiyuk since the successful 2013 drill program.
CEO, Jack Bal Comments:
12,000 m of previous drilling from 2008-2013 returned highly promising results at Kiyuk Lake. This seasons program builds on the successful 2013 program and exploits the potential we recognized when we acquired Kiyuk.
Exploration Highlights
1. To expand the known gold mineralization discovered at the Rusty and Gold Point zones through 2,000 m of drilling
2. To prioritize future drill targets and develop new mineralized zones through grid till sampling and prospecting over new gold targets previously identified in property-wide till sampling
Rusty Zone
Drilling at the Rusty zone will be focused on defining gold mineralization at depth and at surface to the south east. This infill drilling will help move the Rusty zone towards defining a resource. Drilling in 2013 demonstrated strong continuity of breccia-hosted gold mineralization within the Rusty zone.
Highlights from previous drilling at Rusty include:
- 52.4 m at 3.27 g/t Au from surface
- 35.9 m at 4.95 g/t Au from 134.1 m
- 61.5 m at 3.3 g/t Au from 159 m
- 24.1 m at 3.40 g/t Au from 34.0 m
Gold Point Zone
The Gold Point zone is a high priority target located in a 24 kilometre magnetic anomaly that will receive further drilling in this program. Ground magnetics, prospecting and mapping in 2012 and 2013 identified a possible extension of Gold Point mineralization by the discovery of similar mineralization, in boulders, in the polymictic conglomerate that hosts the Gold Point zone. These extensional zones - South Gold Point and East Gold Point respectively - were further defined by ground magnetics as zones of magnetite destruction coincident with east-west structures, which are identical to those found at the Gold Point zone. Drilling in 2017 will target these new areas.
Previous drilling at the Gold Point zone returned:
- 63.6 m at 2.84 g/t Au from 148 m
- 12 m at 2.4 g/t Au from 120 m
- 12 m at 3.9 g/t Au from 163.5 m
Grid Till Sampling and Prospecting
Grid till sampling will be completed between the Cobalt and Amundsen mineralized zones to better define drill targets after grid till sampling aided in the discovery of Amundsen, Bancroft and other mineralized zones in 2013. Further grid till sampling, will be used to confine prospective zones from new areas of gold anomalism identified by property-wide (1 km spacing) till sampling completed in 2012. These areas include north of Kiyuk Lake and to the north east of the Cobalt and Captain Anderson zones. Tighter spaced sampling will increase the Companys ability to investigate areas of gold and pathfinder element anomalies and aid future drilling.
About Cache Exploration
Cache Exploration is solely focused on its Kiyuk Lake Gold Property in Nunavut.
Kiyuk Lake Property Highlights
- A true district play covering a majority proportion of the Proterozoic Kiyuk Basin
- 12,000 meter drill database: 2008-2013
- Gold Showings over a 15 Km Strike Length
- Multiple Gold Intercepts over 1g/t
- Four Discrete Mineralized Zones (Rusty, Gold Point, Cobalt, Amundsen)
- Significant expansion possible with five new target areas identified and ready for drilling
- Sites are drill ready with fuel, drills and 35-man camp on site and ready for spring drilling
Chris Pennimpede, P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical mining information provided in this release.
For more information about Cache Exploration, please visit: www.cacheexploration.com
Jack Bal
Jack Bal
Chief Executive Officer
FOR MORE INFORMATION, PLEASE CONTACT:
Jack Bal
604-3065285
jackbal(at)cacheexploration.com
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Kiyuk Lake Property: statements pertaining to the ability of Cache Exploration Inc. (CAY); the potential to develop resources and then further develop reserves; the anticipated economic potential of the property; the availability of capital and finance for CAY to execute its strategy going forward. Forward-looking statements are based on estimates and assumptions made by CAY in light of its experience and perception of current and expected future developments, as well as other factors that CAY believes are appropriate in the circumstances. Many factors could cause CAYs results, performance or achievements
to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Companys management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release
http://www.irw-press.at/prcom/images/messages/2017/39894/Cache Exploration Commences Summer Drill Program at Kiyuk Lake Nunavut Gold Project (with Images)_PRCOM.001.png
Rusty Drilling 2013
http://www.irw-press.at/prcom/images/messages/2017/39894/Cache Exploration Commences Summer Drill Program at Kiyuk Lake Nunavut Gold Project (with Images)_PRCOM.002.jpeg
Rusty Drilling Open at Depth
http://www.irw-press.at/prcom/images/messages/2017/39894/Cache Exploration Commences Summer Drill Program at Kiyuk Lake Nunavut Gold Project (with Images)_PRCOM.003.jpeg
Rusty Section Open to South East and Depth
http://www.irw-press.at/prcom/images/messages/2017/39894/Cache Exploration Commences Summer Drill Program at Kiyuk Lake Nunavut Gold Project (with Images)_PRCOM.004.jpeg
Proposed Infill Grid Tills
Leseranfragen:
Datum: 29.05.2017 - 13:27 Uhr
Sprache: Deutsch
News-ID 544937
Anzahl Zeichen: 7447
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 295 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Cache Exploration Commences Summer Drill Program at Kiyuk Lake Nunavut Gold Project
"
steht unter der journalistisch-redaktionellen Verantwortung von
Cache Exploration Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
