Business
Casa Minerals Acquires Additional 494.48 Acres Mineral Land Claim at Congress Gold Mine
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2022) - Casa Minerals Inc. (TSXV:...
About this update from Casa Minerals, Inc.
[{"type":"text","content":"Casa Minerals Acquires Additional 494.48 Acres Mineral Land Claim at Congress Gold MineVancouver, British Columbia--(Newsfile Corp. - November 15, 2022) - Casa Minerals Inc. (TSXV: CASA) (OTC Pink: CASXF) (FSE: OCM) (the \"Company or \"Casa\") is pleased to announce that it has staked 25 mineral claims consisting of 494.48 acres contiguous to the Company's Congress Gold Mine property located in Congress, Arizona, following successful inaugural drilling program since the mine shut down in the early 1990s, (Assays pending). The Congress property is located approximately 100km northwest of Phoenix, Arizona and is accessible by road. Existing infrastructure allows year-round exploration activities.The Congress veining system that has been mapped by Casa's geological team extends in a northwest-southeast direction. As a result of Casa's recent staking activity, the Company now owns the entire known extent of the prospective area of gold mineralization. Previous operators of the Congress mine, including Echo Bay Mines, explored parts of the western extension of the vein system. and in 1989 when Echo Bay Mines offered the Congress Mine for sale, a \"current ore reserve\" of 400,000 to 500,000 tons at 0.3 opt Au was estimated (Sell and Miller, 1989). This resource, which was not measured in accordance with current NI 43-101 standards, was subsequently purchased by Malartic Hygrade U.S. Inc., an affiliate of Republic Goldfields Inc (\"Goldfields\"). Goldfields' 1991 annual report lists production of 125,000 tons, yielding 28,500 ounces of gold. The mine was shut down at some point in 1992. The 1992 production figures are unknown.The Company engaged Huit-Zollars, Inc. to perform the staking. The newly staked claims in the northern portion of the property cover the previously unexplored probable extensions of the Congress and Niagara veins that supported the historic mine. Casa's exploration crews have identified target areas that if verified by on-going field and analytical work may comprise important new discoveries. Casa Minerals Inc.'s subsidiary Casa Gold (USA) LLC holds a Special Land Use Permit to perform exploration work on the mineral claims.Mr. Farshad Shirvani, Casa president and CEO stated \"We are extremely fortunate to have been able to acquire this 494.48 acre (25 claim) land package as it holds significant value for the Com...