Business
Cascada Options Angie Copper Molybdenum Project
Toronto, Ontario--(Newsfile Corp. - February 15, 2023) - Cascada Silver Corp. (CSE: CSS) ("Cascada") is pleased to report that it has signed an option agreement
About this update from Aterra Metals Inc.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - February 15, 2023) - Cascada Silver Corp. (CSE: CSS) (\"Cascada\") is pleased to report that it has signed an option agreement to acquire a 100% interest in the 1,500 hectare Angie Copper Molybdenum Project (the \"Angie Project\") located in Region III, Chile, approximately 75 kilometres east of the City of Copiapo (Figure 1). The Angie Project is located at lower altitudes (2,800 to 3,200 metres) with good road access. Historical geochemical rock chip sampling on the Angie Project outlined a +50 parts per million (\"ppm\") molybdenum anomaly encompassing an area of approximately 1,000 by 1,500 metres (see Figure 2) with molybdenum assays of up to 1,150 ppm. The undrilled molybdenum anomaly is associated with anomalous tin and tungsten. Molybdenum anomalies commonly occur as halos around Chilean copper porphyry systems. Two lines of induced polarization geophysics completed over the area covered by the molybdenum anomaly outlined a strong chargeability anomaly (Figure 3) and resistivity anomaly. The majority of the molybdenum anomaly is hosted within a granodiorite, cut by abundant quartz veins, through which erosion has exposed a narrow potassic-altered, dacitic porphyry with local tourmaline and oxidized sulphide remnants. It is interpreted that the molybdenum anomaly and concomitant induced polarization anomalies are associated with a mineralized porphyry system at depth. Preliminary exploration plans consist of confirmation geological and structural mapping followed by reverse circulation drilling to test the zone of high chargeability lying beneath the molybdenum anomaly. \"The Angie Project has the earmarks of hosting a significant mineralized porphyry system and while we will conduct geological mapping in order to better understand the structural setting of the molybdenum anomaly, the Angie Project is essentially drill ready,\" said Carl Hansen, CEO of Cascada. \"With easy access and a clearly defined target, it is our goal to have drill rigs on the property during 2023. In addition to the Angie Project, and our recently staked Golden Lake Property, Cascada will continue to actively evaluate further potential acquisition targets in Chile.\" Angie Project Option Agreement Terms Under the terms of the option agreement, Cascada has made an initial payment of $15,000 to the vendor (\"Vendo...