cache exploration inc (CEXPF) Key Developments
Cache Exploration Inc. Announces Positive 2013 Results from Quinn Eskay Gold-Silver-Copper Property
Aug 20 13
Cache Exploration Inc. announced very positive results from the 2013 sampling and prospecting program completed on the 100% owned Quinn Eskay Gold-Silver-Copper Property located north of Stewart, B.C. Of the 32 rock samples collected, 5 were collected from float and all remaining samples were collected from bedrock, including 14 composite grabs, 8 chip samples, and 5 samples from test pits. It is interpreted that all of the samples which were collected are from or near quartz veins along the same linear trend, which originate from an east-west trending shear zone of differential dilatency. This shear zone was observed as semi-continuous for a distance of approximately 1 kilometre, bound by samples QE-13-DL-003 at the east and 13-QECG-16A/B at the west. All samples were submitted to ALS Chemex in Stewart, BC to be prepared and analyzed by 30 g fire assay for gold and Code ME-MS41 multi-element aqua regia, inductively coupled plasma mass spectroscopy (ICP-MS), and inductively coupled plasma atomic emission spectroscopy (ICP-AES) at their facility in Vancouver, BC. Samples 13-QECG-01 was taken from the likely bedrock source of 2012 highlight sample, 12-QECG-07 which contained 30.7 g/t Au, 159.0 g/t Ag, and 4.47% Cu. This source sample was also mineralized, reporting 1.17 g/t Au, 197.0 g/t Ag, 0.06% Cu, and 4.0% Pb. Samples 13-QECG-02, -04, -05, and - 06 were collected from test pits along strike with 13-QECG-01. Sample 13-QECG-04 reported the highest grades from the test pits with 0.35 g/t Au, 33.0 g/t Ag, 0.10% Cu, and 0.24% Pb.
Cache Exploration Inc. Completes Quinn Eskay Gold-Silver-Copper Property Sampling Program
Aug 12 13
Cache Exploration Inc. announced that a follow up sampling and prospecting program has been completed on the 100% owned Quinn Eskay Gold-Silver-Copper Property located north of Stewart, B.C. The Quinn Eskay Property is located in the favourable Skeena mining district of British Columbia with numerous past producers and deposits undergoing active exploration. Most notably, these include the large volcanogenic massive sulphide deposit at the Granduc Mine, located approximately ten kilometres south of the Quinn Eskay Property. Granduc historical reports indicate production of over 64,000 ounces of gold, 4.0 million ounces of silver, and 419 million pounds of copper from 1971 to 1984; Castle Resources Inc. intends to bring the Granduc back into production with an indicated 10.4 Mt of 1.25% Cu, 0.14 g/t Au, and 10.6 g/t Ag and an inferred of 36.6 Mt of 1.26% Cu, 0.13 g/t Au, and 9.7 g/t Ag. The Doc Property, which adjoins the Quinn Eskay to the north, is also known as the Gracey. It exhibits similar vein-style mineralization in addition to associated skarn mineralization. It is reported to contain up to 426,337 tonnes of indicated resources grading 9.2 g/t gold and 44.9 g/t silver. The primary objective of the field program was to follow up on a 2012 float sample that reported 30.7 g/t gold, 159.0 g/t silver, and 4.47% copper. A secondary objective of the program was to conduct an initial prospecting program on the northern claim block that was added in 2012 after the company received the positive sampling results. The exploration team was able to successfully locate what is believed to be the bedrock source of the anomalous mineralized float sample. Sulphide mineralization in the form of pyrite and chalcopyrite was identified in bedrock several metres up-slope from the float sample location. Five test pits were excavated ranging between 1.2 metres and 3.0 metres apart along a distance of greater than 12.0 metres of strike length along the bedrock source and samples were collected from each of the pits. Sulphides of varying degrees of abundance were observed in each sample. A strong correlation with the regional geological trends was also noted.
Cache Exploration Reports Positive Molybdenum Results from Drilling At the Welsford Inner Property
Aug 8 13
Cache Exploration Inc. announced positive molybdenum results from the recently completed drilling program at the Welsford Inner Property in southern New Brunswick. This drilling program has been approved for a grant of up to $35,000 under the New Brunswick Junior Mining Assistance Program which represents 50% of the first $70,000 of eligible costs incurred in the drilling program. The diamond drilling program, as carried out by Vic Progressive Diamond Drilling Inc. consisted of a single 182 metre drill hole. It was drilled towards a 255 degree azimuth and inclined 45 degrees and it encountered visible molybdenite in fractures and veins throughout much of the hole. Sampling and analyses have confirmed the presence of widespread lower-grade mineralization, including numerous zones of enrichment. All samples were submitted to Activation Laboratories in Fredericton, New Brunswick for sample preparation, followed by analysis at their Ancaster, Ontario facility for Code-1H instrumental neutron activation analysis (INAA) and aqua regia ICP. Overall, mineralization in drill hole WI-13-09 consisted of 103.5 metres containing 0.013% Mo from 49.5 metres to 153.0 metres. Within this zone, enriched zones were also noted, including: 4.0 metres containing 0.035% Mo from 49.5 metres to 53.5 metres; 10.0 metres containing 0.019% Mo from 89.0 metres to 99.0 metres; 15.5 metres containing 0.036% Mo from 110.0 metres to 125.5 metres; 9.0 metres containing 0.039% Mo from 144.0 metres to 153.0 metres. Throughout this 103.5 metre zone, molybdenite mineralization is primarily observed filling fractures and as fracture coatings, with only minor stockwork veining, which indicates a strong potential for a primary source of stockwork mineralization at depth. When compared with the results of the 2012 drill hole, DDH-WI-12-08, which was drilled with an azimuth opposite to DDH-WI-13-09, the mineralization in the 2013 drill hole appears to be of lower grade but much more widespread. Based on the overall thickness of mineralization presently open to the north, to the south, and at depth, the company is encouraged by these results and will be reviewing plans for potential follow-up drilling.
Cache Exploration Inc. Completes Drilling at the Welsford Inner Property
Jul 2 13
Cache Exploration Inc. announced that the company has completed the drilling program at the Welsford Inner Property in New Brunswick. This drilling program has been approved for a grant of up to $35,000 under the New Brunswick Junior Mining Assistance Program which represents 50% of the first $70,000 of eligible costs incurred in the drilling. ic Progressive Diamond Drilling Inc. of Sussex, New Brunswick completed the drilling of one exploration test hole under contract. This test hole was collared from the same drill pad location as the 2012 drill hole and was drilled towards the southwest, in the opposite direction to the 2012 drill hole. It was drilled for a length of 182 metres at a 45 degree angle to test for the presence of molybdenite mineralization, relative to an inferred SSE-trending fault structure. Molybdenite was initially discovered in the upper part of the 2012 drill hole. The drilling was designed to test the molybdenum soil anomaly located along the trend parallel to McKeel Lake. Sampling of the drill core will be completed in the next few days and all samples will be submitted to the Activation Laboratories facility in Fredericton, New Brunswick, for processing and then to be forwarded to their facility in Ancaster, Ontario for analysis by Code-1H instrumental neutron activation analysis (INAA) and aqua regia ICP with results expected in late July or early August.
Cache Exploration Inc. Receives Results for Rare Earth Elements and Gold from the Jake Lee Project in New Brunswick
May 16 13
Cache Exploration Inc. announced that the company has received encouraging results for Rare Earth Elements (REE) and Gold (Au) from the Jake Lee Project in New Brunswick. The Jake Lee Property is under option from Geodex Minerals Ltd. The Property consists of 152 claims located in southern New Brunswick, approximately 30 kilometres west of the city of Saint John. The property contains the Jake Lee Mountain Granite. As a peralkaline phase of the Silurian age Saint George Batholith, the Jake Lee Mountain Granite is genetically related to the Welsford Granite, another phase of the Saint George Batholith, which is the host of the company’s Welsford REE Properties and which contains numerous rare earth element showings. In late 2012, the company carried out soil sampling and radiometric prospecting on the Jake Lee Property. A total of 204 B-horizon soil samples, 16 C-horizon soil samples, and 19 rock samples were collected and submitted to Activation Laboratories (Actlabs) in Fredericton, NB for sample preparation, followed by analysis at their Ancaster, Ontario facility for Code 1D enhanced instrumental neutron activation analysis (INAA). Additionally, 413 soil samples from the 2011 exploration program by Geodex were resubmitted to Actlabs for INAA to test for gold concentrations. In expanding the existing grid of B-horizon soil data, Cache confirmed the presence of at least two target areas of elevated REE’s in soil within the central region of the claim block and one in the extreme southwest part of the soil grid. The most notable and promising anomaly contains the highest heavy rare earth elements (HREE) in soil concentration of the area, with 56.21 ppm combined Europium (Eu), Terbium (Tb), Ytterbium (Yb), and Lutetium (Lu), and is extendable northeasterly with several other soil samples reporting between 12 and 50 ppm combined Eu-Tb-Yb-Lu, which were taken along a length of 440 metres. This anomaly is also coincidental with elevated concentrations of Tantalum (Ta), Hafnium (Hf), and Molybdenum (Mo). Other high REE concentrations in soil were also identified in various areas of the property. The C-horizon soil was locally tested to assess the potential for soil dispersion on the property, and by inference, the reliability of B-horizon soil data. While the B-horizon was found to be more Heavy Rare Earth Element (HREE) enriched and the C-horizon to be more Light Rare Earth Element (LREE) enriched, a relatively strong correlation was found between B-horizon and C-horizon concentrations of Uranium (U), Thorium (Th), and Hafnium (Hf). Locally elevated concentrations of REE-in B-horizon soil are also coincidental with elevated concentrations of REE-in C-horizon soil. It is believed that the local variations in LREE and HREE in soils are more a function of soil evolution and that soil dispersion has been minimal. The results of the rock samples submitted did not return significant values, although there is very limited exposure in the region. The highest reported result was a sample which contained 213.35 ppm Total Rare Earth Elements (TREE), including 28.55 ppm HREE. Note that TREE includes Lanthanum, Cerium, Neodymium, and Samarium as LREE, and Eu,Tb,Yb,Lu as HREE. The results of the reanalyses of the 2011 soils for gold concentrations proved encouraging and have identified a significant gold anomaly. One sample from the south-central region of the claim was found to contain 224 ppb gold in an area interpreted to be near the contact zone between the Jake Lee Mountain Granite and the Mascarene Group metasediments. This geologic area has been historically of interest for other metals - notably Zinc, Lead, Silver, and Copper. The 2012 exploration program at the Jake Lee Property has identified areas of interest which the company will evaluate for the provision of a follow up program. Such a program would include detailed radiometric prospecting in the areas showing elevated REE values in soil and from radiometric prospecting, and the extending of the B-horizon soil grid on the large region of the property that remains underexplored in the northern half and the westernmost extents of the Jake Lee Property. The REE anomalies and the gold anomaly on the property are of interest to the company and could result in a summer trenching program on the property to identify the bedrock sources of these anomalies.