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Pacific Cascade Minerals Inc. (PCV) is pleased to report that the Phase One diamond drilling program on its El Centenario project in Durango, Mexico is now under way.
The initial 3000-plus meters HQ core drilling program is designed to test two important structurally-controlled mineralized zones at El Centenario: (a) the La Esperanza Ag-Au-Zn-Pb zone, and (b) the Santa Margarita high-grade Au-Ag zone located approximately 3km east of the La Esperanza prospect.
La Esperanza Prospect
As of January 17, 2012, PCV has completed 4 diamond drill holes. Core from holes 1 through 4 is being logged and readied for assay. This first set of diamond drill holes at La Esperanza is testing the 50 meter and 100 meter below surface levels of the silver-rich zone along a 500 meter-long portion of the structure where historical old mine workings are found and where previous rock channel sampling returned significant silver grades.
This N-NW trending epithermal structure has been traced on surface by mapping and rock channel sampling completed in September of 2010 by Arcelia Gold Corp., for more than 500 meters along strike. At this time, PCV is continuing the exploration work on its program of surface mapping, rock channel, trench and soil sampling at the La Esperanza prospect. The surface mapping and sampling completed by PCV in November and December 2011 clearly shows that the La Esperanza structure now extends for more than 1.2 km along strike and still remains open at both ends.
PCV expects to be releasing the initial results of its ongoing surface mapping and sampling program at La Esperanza once all field data and assays have been compiled. This first exploration data to be released will be the sample assay results of the work done along the northern extension of La Esperanza including rock channel, soil and trench sampling results collected in November and December of 2011.
In 2006, Fund Minerals S.A. de C.V., a Mexican-based, privately-owned, mineral exploration company, completed a small reconnaissance mapping and sampling program on the `La Esperanza` prospect. In June 2009, H. Mendoza, a senior consultant geologist, for Arcelia Gold Corp. completed a short exploration work program that included mapping the area of interest in more detail and collecting a series of representative rock channel samples. Some of the samples were not truly representative of the structure`s grade because of very poor outcrop exposures.
Select assays for the La Esperanza Prospect from the 2006 and 2009 sampling programs are displayed below. Complete results are available in the 43-101 Technical Report on the El Centenario Property dated June 1, 2011 on the Company's website, www.pacificcascade.ca.
November 2006 (*Au Eqv. includes Au and Ag only, 50 g of Ag = 1 g of Au)
------------------------------------------------------------------ |Width|Au(g/T)|Ag(g/T)|*Au Eqv.(g/T) Zn(%)|Pb(%)|Cu(%)|Sample no.| |----------------------------------------------------------------| |1.6m |0.30 |411 |8.525.2 |1.8 |0.19 |2362 | |----------------------------------------------------------------| |2.3m |0.46 |152 |3.48 |0.9 |0.2 |0.06 |2359 | |----------------------------------------------------------------| |3.3m |1.3 |1854 |38.38 |7.8 |5.2 |0.35 |2360-61 | |----------------------------------------------------------------| |3.5m |2.3 |830 |18.90 |2.2 |1.0 |0.10 |2356-57-58| ------------------------------------------------------------------
June 2009 (*Au Eqv. includes Au and Ag only, 50 g of Ag = 1 g of Au)
WidthAu(g/T)Ag(g/T) *Au Eqv.(g/T) Zn(%) Pb(%) Cu(%) Sample no.
1.8m0.172465.090.990.980.69 20089
4.1m0.853668.171.50.60.12 20075-76
4.9m1.2560013.251.120.640.04 20079-80
2.8m0.634479.570.580.420.07 20081
grab1.98293260.628.45.3--20094
Santa Margarita Prospect
The Santa Margarita Prospect is a N-NW trending structure that, to date, has been traced for more than 1.3 kilometres along trend and remains open at both ends. A program of surface mapping, rock channel, trench and soil sampling is scheduled to begin on the Santa Margarita once the surface sampling program at La Esperanza is complete.
In 2007 Arcelia Gold Corp. sampled the northernmost vein outcrop of the Santa Margarita structure. The rock channel samples taken across this outcrop returned anomalous grades of Au with Ag values ranging from 3 ppm to 234 ppm Au and 1 to 189 Ag.
Upon completion of the initial set of drill holes at La Esperanza the drill is expected to be moved to the Santa Margarita gold-silver zone located about 3 km to the East of La Esperanza. Previous rock channel sampling completed at Santa Margarita by Arcelia Gold Corp. as of September 2010 returned high gold and silver values.
Select assays for the Santa Margarita Prospect from the 2007 sampling program are displayed below. Complete results are available in the 43-101 Technical Report on the El Centenario Property dated June 1, 2011 on the Company's website, www.pacificcascade.ca.
(*Au Eqv. includes Au and Ag only, 50 g of Ag = 1 g of Au)
--------------------------------------------------------------------- |Width|Au(g/T)|Ag(g/T)|*Au Eqv.(g/T)|Zn(%)|Pb(%)|Cu(%) |Sample no.| |-------------------------------------------------------------------| |1.3m |37.4 |20.6 |37.8 |0.08 |0.04 |(< 0.01)|18019 | |-------------------------------------------------------------------| |0.3m |31.2 |121.0 |33.6 |0.49 |0.64 |(< 0.01)|18012 | |-------------------------------------------------------------------| |1.3m |26.5 |25.9 |27.0 |0.37 |0.31 |0.01 |18007 | |-------------------------------------------------------------------| |1.2m |19.1 |10.1 |19.3 |0.32 |0.12 |(< 0.01)|18020 | |-------------------------------------------------------------------| |1.0m |15.9 |110.0 |18.1 |0.30 |0.10 |-- |18024 | |-------------------------------------------------------------------| |0.4m |12.5 |140.0 |12.6 |0.08 |0.02 |-- |18121 | |-------------------------------------------------------------------| |0.8m |12.1 |81.6 |13.7 |0.95 |0.01 |0.19 |18018 | |-------------------------------------------------------------------| |1.1m |9.4 |39.6 |10.2 |0.77 |0.17 |(< 0.01)|18056 | |-------------------------------------------------------------------| |0.4m |8.9 |36.7 |9.6 |4.17 |2.92 |(< 0.01)|18002 | |-------------------------------------------------------------------| |1.2m |7.8 |51.2 |8.9 |0.28 |0.11 |-- |18009 | |-------------------------------------------------------------------| |1.3m |6.8 |62.1 |8.0 |0.23 |0.07 |-- |18010 | |-------------------------------------------------------------------| |2.6m |3.3 |6.4 |3.4 |0.92 |0.24 |(< 0.01)|17521 | |-------------------------------------------------------------------| |2.6m |3.2 |2.3 |3.2 |0.03 |0.02 |0.01 |17534 | ---------------------------------------------------------------------
Further detailed information of historical sample work on the El Centenario Property is contained in PCV's NR 43- 101 report which can be seen on the PCV website, www.pacificcascade.ca.
Technical information in this news release has been reviewed by Derrick Strickland, P.Geo., a qualified person as defined in NI 43-101.
About the Project
The El Centenario project is situated 15km southwest of the La Cienega mine (owned by Fresnillo PLC) a structurally controlled gold-silver-lead-zinc mineral deposit that has been in production since early
1999. To date, the La Cienegamine has produced more than 2M oz of gold and 50M oz of silver. Additionally, the world-class Metates deposit (27M oz gold equivalent owned by Chesapeake Gold Corporation TSX-V: CKG) is located 10 km south-southeast of the El Centenario project. The project area encloses a historical, little-explored mining district that was active during the Spanish colonial times. The concession block contains dozens of mineral prospects and an abundance of small-scale mine workings. The style of mineralization varies from epithermal, low sulfidation, fracture-filling vein-stock-work breccia systems to skarn and sediment-hosted enriched disseminated zones. For further information regarding Pacific Cascade Minerals Inc. and the El Centenario project please visit the Company's website at www.pacaficcascade.ca.
On behalf of the Board of Directors "Harold Forzley"
President / CEO
Pacific Cascade Minerals Inc.
For more information contact Daniel Whittle, Investor Relations at: Telephone: (604) 637-1341 or e-mail IR@pacificcascade.ca
Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain of the statements made and information contained herein may contain forward- looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information.
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