The 2006 field program was focused on detailed mapping of lithologies in the area of M-05-01. The mineralization in drill core is hosted by a magnetite veined volcanic tuff, which is probably coeval with extensive regional Jurassic volcanism. The tuff has been mapped and is approximately 250 metres east west and 600 north south metres. Due to steep topography the tuffaceous horizon has an estimated vertical thickness of at least 250 metres. The zone is open to the north and south. The Company plans to conduct a 4-core hole program in 2007 to test for continuity of mineralization in the mapped unit.
The Company intends to enter into a Letter Agreement with Argentine Frontier Resources Inc (AFRI), a related company, which enables Cascadero to spend up to C$100,000 on re-drilling certain historic percussion drillholes on an Argentine copper-gold prospect. Subject to confirmation of historic values in core holes, Cascadero has the right to enter into an Option Agreement that enables the Company to earn a 70% interest in the property, subject to regulatory approval. AFRI's subsidiary, Salta Exploratciones SA holds title to and has a 100% interest in the subject property with no underlying agreements.
The Mex property is subject to a 3% NSR that can be reduced to 1 1/2% on precious and 1% on base metals by cash payments.
The Mex assaying was conducted by Eco-Tech of Kamloops, BC. All assays are 30-gram fire assay with 28-element ICP. Field work at the Mex in 2005 and 2006 was under the direction of by Dave Kuran, P. Geo., who also compiled and interpreted the data and who is the qualified person for the Company.
Chief Executive Officer
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In 2005, the Mex prospect in the Toodoggone region of north central British Columbia was subject to a reconnaissance style drill program. Core hole M-05-01 assayed from 22 metres to 145.3 metres 0.084% Cu, 0.095% Zn, 1.7 g/tn Ag and 0.45 g/tn Au over 123.4 metres. The hole was lost at 145.3 metres. The hole bottomed in mineralization and the last 7.4 metres assayed 2.9 g/tn Ag and 1.7 g/tn Au.