Cascadero Copper Corporation: Gold Fields to Drill Test Marble Mountain Gold Prospect in Ontario
08 Maggio 2012 - 3:52PM
Marketwired Canada
Cascadero Copper Corporation (TSX VENTURE:CCD) -
This week Gold Fields Ltd. is planning to commence a core drilling programme on
Cascadero Copper's Marble Mountain gold prospect. The property is located about
55 kms north of Sudbury, Ontario in Parkin Township. Gold Fields will test the
Pyrite Hill and Calcite targets with up to 1,500 metres of core drilling. Gold
Fields is the operator of the Marble Mountain project.
Cascadero holds an option agreement that enables it to earn a 100% interest in
Marble Mountain. Gold Fields can earn an initial 65% interest by paying $700,000
cash and capital spending of $600,000 before November 1st 2014. Gold Fields has
committed to a first year expenditure of $300,000 and has completed an option
payment of $50,000.
Gold Fields may elect to earn an additional 10% by completing a feasibility
study or contributing C$20,000,000 in expenditures whichever occurs first.
Marble Mountain is a gold prospect marked by a pyritic gossan. The property has
good road access. Samples taken by Cascadero geologists assayed high-gold
values, up to 32 g/t Au, in pyritic sediments with relatively low-silver and
base metal values. Details of the property are outlined in Cascadero press
release dated April 14, 2011.
ABOUT CASCADERO COPPER
Cascadero Copper is an integrated prospecting and mineral exploration business
with offices in North Vancouver, BC, Canada, Sudbury, Ontario, Canada and Salta
City in the province of Salta, Republic of Argentina. The Company generates,
acquires and explores mineral properties and it active in the three
jurisdictions.
In north central British Columbia, the Company has a 100% interest in a 31,000
hectare property in the Toodoggone region, which is prospective for copper gold
porphyry systems. This property is subject to a C$20 million Joint Venture with
Gold Fields.
In Ontario, the Company holds or has the right to acquire a 100% in 17
properties in the Sudbury, Swayze and Timmins camps, which are volcanic and
sediment hosted copper gold prospects.
In north western Argentina, the Company holds a 50% interest in a 46 property
portfolio, which consists mainly of bulk mineable copper-moly-gold porphyries
and bulk mineable sediment hosted silver-gold plus base and rare metals.
In 2009, the Company discovered Taron, a large bulk mineable sediment hosted
epithermal rare metal deposit in Argentina. In 2011, Cascadero discovered Las
Burras, a new Argentine Cu-Mo-Au porphyry.
The Company holds a large claim block that adjoins Lumina Copper's Taca Taca
Bajo Cu-Mo-Au deposit. Several copper and gold showings exist on these claims
and an exploration program is in the planning stage.
Cascadero's commodity focus is gold, silver, moly, copper, base and rare metal
hosted in large-scale bulk mineable mineral systems.
In 2012 to 2013, Cascadero intends to conduct exploration in three core areas:
Pancho Arias Cu-Mo-Au porphyry District, the Taca Taca porphyry District and the
bulk mineable sediment hosted silver prospects in the El Oculto District.
Exploration is also planned for Taron, an exciting large-scale sediment hosted
rare metal discovery.
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