VANCOUVER, BC - Cascadia Minerals Ltd. ('Cascadia') (TSXV: CAM) (OTCQB: CAMNF) is pleased to announce the first drill results from its fully-funded 2026 exploration program at the road-accessible Carmacks copper-gold project in central Yukon.
Carmacks Drilling Highlights
Hole CD-26-046 at Zone 2000S returned: 106.62 m of 0.79% copper with 0.28 g/t gold (1.09% CuEq), including 23.15 m of 1.42% copper with 0.51 g/t gold (1.94% CuEq)
Hole CD-26-041 at Zone 147 returned: 98.16 m of 0.92% copper with 0.11 g/t gold (1.06% CuEq), including 21.24 m of 2.38% copper with 0.30 g/t gold (2.82% CuEq); Hole CD-26-046 extended Zone 2000S north by 60 m, with mineralization open at depth and along strike; Additional drilling has tested extension of Zone 2000S a further 50 m to the north (to a total of 111 m beyond previous drilling) and at depth, as well as extensions of Zone 147 at depth, with results pending and Over 8,000 m of drilling has been completed in 16 holes and crews are on track to complete the planned 15,000 m program this season.
'We are achieving exactly what we set out to do this season. The broad intercept in hole 46 at Zone 2000S demonstrates the potential to significantly extend mineralization outside of the existing resource model,' said Graham Downs, President and CEO of Cascadia. 'A total of 16 holes, comprising 8,226 m, have been completed this season out of a planned 15,000 m of drilling. This represents the largest drill program on the property since 2007, and the first significant drill campaign targeting expansion of sulphide resources. All of the holes drilled at zones 147 and 2000S have intersected mineralization, with assays received for the 5 holes reported in this release. We will continue to test further growth of the 2000S and 147 zones through step-out drilling, and will soon start drilling to expand Zone 1213, which has seen primarily shallow holes to-date. Crews have also started regional exploration work across the Carmacks property, and initial results have identified a new high-priority target for further follow-up.'
2026 Carmacks Drilling Summary
A total of 16 holes, comprising 8,226 m, have been completed out of a planned 15,000 m of drilling. This represents the largest drill program on the property since 2007, and the first significant drill campaign targeting expansion of sulphide resources. All of the holes drilled at zones 147 and 2000S have intersected mineralization, with assays received for the 5 holes reported in this release.
Drilling so far has been focused at Zone 147 and Zone 2000S, with one hole at the Gap Zone, and two holes testing the Sourtoe target. Drilling at Zone 147 has tested gaps in historical drilling as well as expansion potential at depth. Drilling at Zone 2000S has stepped out on historical drilling, successfully expanding the sulphide zone by 60 m north in hole CD-26-046. Additional holes have been completed at Zone 2000S stepping out 50 m further north, to a total of 111 m beyond previous drilling, as well as testing deeper in the system. Assays are still pending for the majority of these holes and will be released once they are received and compiled.
Hole CD-26-041 tested a wide gap in drilling on the south side of the deposit, within the boundary of the existing Mineral Resource. Drilling returned a broad interval of high-grade mineralization (98.16 m of 0.92% copper with 0.11 g/t gold, or 1.06% copper equivalent), that was wider and higher grade than was predicted by the model in this area. The first 50 m of this intercept is in oxide material, with the remainder transitional or sulphide mineralization.
Hole CD-26-042 tested an extension of Zone 147 at depth beneath hole CD-25-037. It returned a narrow interval of lower-grade mineralization, as predicted by the 2023 geological model, suggesting that the mineralized zone may be pinching out in this area.
Hole CD-26-043 tested the Gap Zone - located between Zones 147 and 2000S - below drilling in 2024 which encountered a smaller more flat-lying mineralized raft. It returned two narrow intervals of mineralization, in line with the flat-lying zone identified in drilling in 2024. Further drilling is warranted in this area.
Hole CD-26-044 tested Zone 147 at depth, approximately 80 m down dip of historical hole DDH-1-11. It encountered a moderately mineralized raft, returning 64.76 m of 0.41% copper with 0.10 g/t gold (0.55% copper equivalent). The hole also encountered a parallel raft of mineralization higher up in the hole with trace copper mineralization, which warrants further follow-up.
Hole CD-26-045 tested Zone 2000S 65 m north of historical drilling. It encountered a mineralized raft from 223.59 m to 255.70 m, with assay results pending.
Hole CD-26-046 tested an undercut of hole CD-26-045, approximately 50 m down dip from the mineralized raft in hole 45. It returned a very broad, well mineralized interval of 106.62 m of 0.79% copper with 0.28 g/t gold (1.09% copper equivalent), including 23.15 m of 1.42% copper with 0.51 g/t gold (1.94% copper equivalent). This intersect lies outside the existing Mineral Resource and demonstrates the potential to extend the Zone 2000S resource to the north, towards the Gap Zone and Zone 147.
Holes CD-26-047, 049, 052, and 055 have been completed at Zone 147, continuing to test mineralization at depth. Results are pending for all these holes.
Holes CD-26-048, 050, 054 and 056 were drilled at Zone 2000S, with 056 encountering mineralization up to 111 m north of the previously drilled extent of the zone. Hole 054 encountered mineralization at the deepest point ever tested in this zone, for a total vertical extent of 467 m from surface. Results are pending for all these holes.
Holes CD-26-051 and 053 tested the previously undrilled Sourtoe target located 1 km west of Zone 147. While they encountered several rafts of migmatized rock, limited mineralization was noted. Assay results are pending.
Carmacks Project Overview
Cascadia's 180 km2 Carmacks Project is located within the Traditional Territory of the Little Salmon Carmacks and Selkirk First Nations and is 35 km southeast of the past producing Minto Mine, which was recently acquired by Selkirk Copper Mines Inc. The Carmacks Project is road-accessible, via a 13 km access road which extends from the government-maintained Freegold Road northwest of the town of Carmacks in central Yukon. The project has an existing 40-person camp, numerous roads throughout the property, and is 10 km from grid power.
The project covers a large portion of the Minto Copper Belt, a 180 km x 60 km belt of intrusion-related copper-gold-silver deposits. This belt is situated within the Stikine Terrane, which extends into Yukon from British Columbia, and is characterized by Late Triassic to early Jurassic volcanic-plutonic arc complexes that are well-endowed with copper-gold-molybdenum porphyries including the Red Chris, Schaft Creek, Kemess, KSM and Galore Creek deposits and mines.
In addition to numerous early-stage targets, the project hosts the resource-stage Carmacks Deposit, comprising a series of 5-100 m wide 'rafts' of variably migmatized xenolithic meta-sedimentary and meta-volcanic rocks hosted within the coarse crystalline granitoids of the Granitoid Mountain Batholith suite. The 'rafts' generally trend NNW-SSE over 3 km of strike length and form three distinct zones of mineralization. Sulphide mineralization is confined to the metamorphic 'rafts' and is found as chalcopyrite-bornite foliation parallel stringers as well as net-textured clots, interpreted as evidence for later sulphide melts. The contacts with the intrusive phases of the granite mountain batholith are sharp and unaltered. The geology and deposit model are thought to be similar to the nearby Minto Deposit, with past work suggesting that the system is the result of an alkalic porphyry deposit that was metamorphosed up to the point of partial melting at depths of up to 25km, followed by rapid uplift to near surface.
The Carmacks Deposit has a Measured and Indicated Resource containing 651 Mlbs of copper and 302 koz of gold (36.3 million tonnes grading 0.81% copper, 0.26 g/t gold, 3.23 g/t silver and 0.01% molybdenum) or 1.07% copper equivalent, and an Inferred Resource containing 38 Mlbs of copper and 13 koz of gold (2.9 Mt grading 0.60% copper, 0.16 g/t gold, 2.34 g/t silver and 0.02% molybdenum). A 2023 preliminary economic assessment demonstrated positive economic potential, with a $230.4 M post-tax NPV(5%) and 29% post-tax IRR at US$3.75/lb copper and US$1,800/oz gold. A second case evaluated at $4.25/lb copper and $2,000/oz gold returned a $330.1 M post-tax NPV(5%) and 38% after-tax IRR.
The deposit is comprised of three zones, 147, 2000S and 1213, all of which come to surface and remain open to expansion in multiple directions. Historical drilling at the deposit focused primarily on oxide copper mineralization, and numerous holes were ended when sulphide mineralization was encountered. Zone 1213 in particular hosts very shallow sulphide mineralization that has seen limited drilling.
About Cascadia
Cascadia's flagship asset is the Carmacks Project in the high-grade Minto Copper Belt in Yukon Territory, Canada. Cascadia is also exploring the Stikine Terrane in Yukon for new gold-copper porphyry discoveries through its Strategic Alliance with Agnico Eagle. The Stikine Terrane extends into Yukon from British Columbia's Golden Triangle and is a highly prospective target area for gold-copper porphyry mineralization. While the expression of the Stikine Terrane in British Columbia has been explored in detail - resulting in numerous discoveries - its expression in Yukon is comparatively underexplored and not well understood.
Cautionary note regarding forward-looking statements
This press release may contain 'forward-looking information' within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. Cascadia undertakes no obligation to update forward-looking information, except as required by securities laws.
Contact:
Email: [email protected]
Tel: 604-688-0111
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