Google Übersetzer
Following up on the News Releases of January 24 and February 02, 2012 Pacific Cascade Minerals Inc. (PCV) has received further information from the La Esperanza silver, base metal prospect on the El Centenario property in Durango, Mexico. In its exploration of the La Esperanza silver, base metal zone PCV has intersected a mineralized dacitic tuffaceous horizon in all 11 of the drill holes it has completed in the Phase 1 drill program. The drill program intersected several faults some in conjunction with the regional structure of the La Esperanza fault. The PCV technical staff is in the process of evaluating the geological importance of these faults and any potential mineralization that may be present. As of February 09, 2012 Holes 1 - 3 and hole 6 have been shipped to Acme Analytical Laboratory for analysis and hole 4, 5 and 7 through 11 are currently being logged and split and will be shipped as soon as possible.
Investors are cautioned that no analytical results of the drill core have been received by the company. The visual interpretation of the drill core contained in the Feb 02 news release and posted on the PCV website is based on visual inspection only. The mineralization identified may not be representative of the actual mineralized content. Only analytical data from an accredited laboratory should be relied upon.
Copies of the core logs and visual interpretations for holes 1 through 7 are posted on the PCV website under "Projects, El Centenario" or by clicking here to download a PDF copy. PCV will provide the same information regarding holes 8 through 11 once samples have been received by Acme Analytical Laboratory.
Private Placement
PCV has arranged a non-brokered private placement of up to 4,375,000 units of securities for the price of $0.08 per unit, for gross proceeds of up to $350,000.00. Finders fees are payable on a portion of the placement.
Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.15 within 12 months of closing. The placement is subject to regulatory approval.
The proceeds of the private placement will be used to fund the ongoing work program on the Company's El Centenario property in the State of Durango, Mexico and for working capital.
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 Cienega mine 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.
Technical information in this news release has been reviewed by Derrick Strickland, P.Geo., a qualified person as defined in NI 43-101.
For further information regarding Pacific Cascade Minerals Inc. and the El Centenario project please visit the Company's website at www.pacificcascade.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.