- Exploration Has Identified Two Major Large-Tonnage Prospects
- Both Prospects Are New Discoveries With No Previous Drilling
The Company's 50% owned subsidiary Salta Exploraciones S.A. (SALTA) has signed a drill contract with Falcon Drilling (Barbados) for up to 4,650 metres of drilling in up to 14 HQ core holes on two of its properties. Drilling is expected to begin on April 14th on SALTA's 100% owned Valle Grande prospect in Catamarca province and consecutively on its 100% owned TARON prospect in Salta province. Both properties are in the Puna region of north western Argentina.
Valle Grande is sediment hosted, base metal-rich epithermal system. Its presence is noted by an array of outcropping manganese oxide opaline veins over an area with approximate dimensions of 1,300 metres east west and 1,800 metres north south. Botryoidal texture is common. Assays from 128 rock samples from the veins that outcrop within this area indicate the system is anomalous in 16 metals.
The 128 rock samples average 0.044% Mo, 0.33% Cu, 2.27% Pb, 0.06% Zn and 0.03% Co. The highest single assay of the 128 rock samples assayed contained 0.087% moly, 0.813% copper, 10.27% lead, 0.062% zinc, 0.063% cobalt, 41.4% manganese and 26% silica and has a specific gravity of 3.4 g/cm.
The veins array is not, however, the exploration target.
Valle Grande is at the south end of the Rio Grande Salar approximately 40 kms east of the Chilean border and possibly within the same northwest trending mega structure that host La Escondida 120 kms to the west in Chile. Valle Grande is also situated on a major north to north east trending regional lineament that hosts several copper-gold porphyries in Argentina.
In addition to the sampling and geochemistry conducted on the prospect, SALTA performed a grid based gravity survey over the outcropping area of interest. This survey identified an anomaly contoured at >2.77 g/cm
directly beneath the vein array. The orientation of the gravity anomaly conforms to the interpreted structures. The dimensions of the anomaly within the 2.77 g/cm
contour are approximately 1,200 metres east west by 1,700 metres north south. Its northwest orientation with an apparent shallow easterly dip conforms to the probable structural control of the host extensional basin.
SALTA intends to drill test this feature with up to six HQ core holes (2,200 metres). Prior to acquisition by SESA, the Valle Grande prospect was subject to limited exploration and was not subject to previous drilling. The information in this news release regarding Valle Grande is excerpted from the Company's NI 43-101 Technical Report written by Dr. Ken Dawson Ph.D., P.Geo. The full report is available for review at www.Cascadero.com or www.Sedar.com.
The following Table of Anomalous Elements displays the high-range of assays from 12 of the contained metals
ANOMALOUS ELEMENTS FROM OUTCROPS
up to 2,000
up to 170
up to 2,500
up to 960
up to 2,200
up to 745
up to 800
up to 217
The second property scheduled for drilling is TARON, which is a sediment hosted epithermal system anomalous in cesium-rubidium-silver and zinc with a suite of lesser metal values.
Epithermal style mineralization anomalous in alkali metals, zinc and silver was discovered by SALTA geologists and prospectors in 2004. In 2005 and 2006, SALTA's work included about 6,000 metres of trenching in three dimensions. Approximately US$500,000 was spent on trenching, sampling and metallurgy (SGS-Lakefield), funded by a major USA based international oilfield supply company. This work outlined the presence of a very large epithermal system that is approximately 1,600 metres north-south by 1,000 metres east-west. The mineralization variably outcrops over these dimensions and has a steep slope on the west side that is approximately 70 metres high. Trenching and 52-element ICP geochemical sampling over the outcrops have revealed that a potentially very large volume of material containing anomalous cesium-rubidium-silver and zinc values is present at TARON.
Extensive metallurgical work was conducted by SGS Lakefield and this established that the alkali epithermal mineralization can be leached with sulphuric acid with excellent kinetics.
The property is subject to a Letter Agreement with an USA based oilfield supply company, which has the right to review the assays from drill core and to propose a mutually agreeable joint venture to further explore and to develop the property. The right of the oilfield supply company is restricted to the alkali metal in the mineralization principally cesium and rubidium.
SALTA intends to drill up to 8 HQ core holes aggregating 2,400 metres on TARON in May 2009. Both the Valle Grand and Taron drill programs are financed by SESA HOLDINGS LLC (SESA), which owns 100% of SALTA. Cascadero owns 50% of SESA and Cascadero is carried on the first US$3 million of SESA's exploration expenditures. SALTA is a fully integrated exploration company based in the city of Salta, Argentina.
Subject to regulatory approval, the Company has granted 6,000,000 stock options exercisable at $0.10 each for a period of five (5) years to directors, employees and consultants.
All geochemical assaying on both properties mentioned in this news release was performed by ACME Analytical Laboratories in Vancouver BC. SESA sampling on both Valle Grande and Taron was conducted by SESA geologists and prospectors under the direction of Dr. Thomas Richards P.Geo, PhD. Dr. Ken Dawson, the qualified person for the Company, reviewed the content of this news release.
Cascadero Copper Corp
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