Cassius Ventures Ltd. Announces Channel Sampling Results from Las Mercedes
Feb 1 13
Cassius Ventures Ltd. announced channel sampling results from Las Mercedes, an epithermal vein hosted gold target located on the east side of the Leon project area. A total of 8 channels were cut and 92 samples were collected over a silicified porphyritic quartz-andesite penetrated by oxidized quartz veins, mineralized with oxidized pyrite and traces of galena. Out of the 8 channels that were cut, 7 channels were cut over a main structure over a distance of 141m at 25m intervals. The eighth channel sampled a parallel structure 30m north of the main structure. The first channel cut mineralized silicified quartz andesites and graded 2.74 g/t Au over 3.0m with one value grading 6.90 g/t Au over 1.0m. Another three channels sampling the extension of the same structure returned anomalous gold values with channel 3 (55m east of channel 1) grading 0.16 g/t Au over 6.0m, channel 5 (25.6m west of channel 1) grading 0.15 g/t Au over 3.0m, and channel 7 (74.6 m west of channel 1) grading 0.21 g/t Au over 2.0m. Channel 8, located 137 m east-northeast of channel 1, represents a parallel structure 30 m north of the main structure, sampled in quartz veins, quartz breccias and silicified porphyritic quartz diorites mineralized with pyrite. Sampling from this channel returned three anomalous values between 0.13 g/t Au and 0.20 g/t Au each at 1.0m in width. All other channel samples returned insignificant values.
Cassius Ventures Ltd. Provides Exploration Update on Leon Project Area and Concession Holdings
Aug 29 12
Cassius Ventures Ltd. provided an exploration update in respect of the Leon project area. The company presented initial results of geochemical and rock sampling assay results from two main areas within Leon: A porphyry target called Cerro Rojo and Las Mercedes - a vein type target. The Leon target represents an prospect which the Company hopes to advance over the coming months and the company is in the process of exploring a number of alternatives to advance the property, including joint venture and/or partnership structures with mid to large tier gold companies. The Leon concessions are located 100 km north of Managua and easily accessible by the Pan-American Highway and a good paved road 30 km to the east. The concession consists of 63,000 hectares forming one continuous block with one smaller concession (Paso Real) to the north of the Leon block. The Leon concessions are located between El Limon, operated by B2 Gold and the La India mine owned by Condor Gold PLC, which is presently closed but has a JORC resource of 1.6 million ounces. Access throughout the project area is excellent with gravel roads and trails. Topography in the area is generally flat and rolling, with low relief. The town of El Sauce, where the company has accommodation for employees, office space and storage and logging facilities, is located in the center of the concession. Local labor is readily available. The exploration program at Leon has comprised: - Stream sediment, soil, rock chip, and trench channel sampling on concessions not previously sampled as well as concessions worked on historically. - Soil geochemistry surveys on prospective areas. - Mapping and rock sampling on the prospective areas. Cerro Rojo: At Cerro Rojo, soil geochem sampling resulted in the outlining of an anomalous gold area, which was followed up by mapping and rock sampling. Mapping of the porphyry indicates a coverage of approximately 6 km2 with oxidation, argillitization, quartz veinlets locally, and brecciation, with 1% to 2% pyrite. The porphyry is quartz-andesitic to dacitic in composition. Mafic volcanics occur in contact or adjacent to the quartz-feldspar porphyries and are observed in several areas to the east and west of the porphyries. The geochem soil sampling results of this area demonstrate a strong gold anomaly associated with pyrite in a quartz-feldspar porphyry and with an associated Mo, Ag and Cu anomaly. The mineralization model for the area is a porphyry gold - molybdenum - copper mineralization. In 2011, a total of 1,058 soil samples were collected with maximum values of 125 ppb Au, 150 ppm Mo, and 297 ppm Cu. As a result of the Au soil geochem anomalies, focused rock sampling of 148 rock samples were collected with maximum values of 14,011 ppb Au, 81 ppm Ag, 653 ppm Mo, and 144 ppm Cu. Rock sampling of the porphyry where there is brecciation, quartz veining, quartz flooding and silicification, resulted in eight samples returning values above 1.00 g/t Au. Mineralization in the eight samples occur over an open area of 500 m (east-west) by 350 m (north-south). The surface grab samples gave values of 14.01 g/t Au, 7.79 g/t Au, 6.26 g/t Au, 2.02 g/t Au, 1.99 g/t Au, 1.48 g/t Au, 1.13 g/t Au and 1.05 g/t Au. The next stage of exploration at Cerro Rojo is to better define the extent of the porphyry, potentially through airborne and /or ground IP surveys. Las Mercedes: At Las Mercedes, several stream sediment anomalies occur along a northwest trend stretching over a distance of 24 km and parallel to the orientation of the La India gold deposit. A detailed soil geochem survey carried out at Las Mercedes defined four soil geochem anomalies based on 247 soil samples. In total, 25 soil samples returned anomalous values ranging between 50 ppb Au and 196 ppb Au. These Au soil geochem anomalies helped focus the mapping and rock sampling in areas of gold mineralization. One of the northern soil anomalies has two historical workings with 1.8 m wide quartz veins cutting through intermediate volcanics (andesites) and trending 119 degrees dipping 60 degrees S and two samples returned assays of 0.25 g/t Au and 0.33 g/t Au. Prospecting and mapping west of the tunnels uncovered two mineralized areas: the first site at 850 m west-southwest grading 32.15 g/t Au in a quartz vein within silicified intermediate volcanics and a second site 1.50 km west within quartz veins and silicified intermediate volcanics assaying 55.25 g/t Au . The mineralization and structures trend northwest, similar to the mineralization trends at the La India deposit, southeast of the area. A third site, 700 m north of the first site noted above assayed 28.23 g/t Au in quartz veins within dacites. Soil geochemical anomalies in the southern part of Las Mercedes (block C) occur in an area of oxidized rocks within intermediate volcanics.
Cassius Ventures Ltd., Annual General Meeting, Sep 20, 2012
Jul 13 12
Cassius Ventures Ltd., Annual General Meeting, Sep 20, 2012., at 11:00 Pacific Daylight. Location: MAITLAND & COMPANY. Agenda: To receive the financial statements of the company for the fiscal year ended October 31, 2011, together with the auditor's report thereon; to appoint the auditor for the company and to authorize the directors to fix the auditor's remuneration; to fix the number of directors at five; to elect directors for the ensuing year; to approve a stock option plan for the company; and to transact such other business as may properly come before the meeting and any adjournments thereof.