Argentine Property Due Diligence Begins
February 21, 2007
The Company intends to enter into a Letter Agreement with Argentine Frontier Resources Inc (AFRI) and its wholly owned subsidiary Salta Exploraciones SA (SESA), who are related parties, which enables Cascadero Copper to review property data and conduct property visits in north western Argentina. Cascadero has a 180-day exclusive period in which to make its selection (s). The properties are wholly owned by SESA and are not subject to any underlying agreements. Subject to results, Cascadero and AFRI shall enter into an industry standard option and joint venture agreement for each property selected that enables Cascadero to earn up to a 70% interest in each property by making cash and share payments, conducting exploration and preparing a bankable feasibility study if warranted. The Cascadero geological personnel are in Argentina and property visits will commence this week.
Target prospects include the following styles of mineralization:
- Pb-Zn-Ag VMS
- Au-Ag-Pb Veins in Breccia
- Sediment Hosted Au
- Sediment Hosted Uranium
- Rare Metal Occurrence
- Structurally Controlled Cu-Ag
This initial evaluation program should be complete in 5 weeks and assays and interpretation available in another 5 weeks.
The data compilation and fieldwork are under the direction of Dave Kuran, P.Geo who is the Qualified Person for the Company.
Chief Executive Officer
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