Salta Exploraciones S.A. (SALTA) has commenced a core drilling program on the first of three of its properties in north western Argentina. Two of the properties are copper-gold porphyries and one is a sediment hosted gold-silver prospect. The properties are 100% owned by SALTA, which is a wholly owned subsidiary of SESA Holdings LLC which in turn is owned 50% by each of Cascadero Copper and Coralbrook Ltd. The properties are part of SALTA's 43 property Argentine portfolio. The target properties in order of drilling are:
La Sarita: Copper - Gold Porphyry (5,882 Hectares - 14,528 Acres)
Drilling is underway on La Sarita, a copper-molybdenum-gold porphyry prospect. La Sarita is located about 260 kms northwest of the city of Salta in the province of Salta. La Sarita is a large-scale copper-gold porphyry prospect with a related zone of hybrid IOCG alteration and mineralization. The prospect is located about 10 kms west of the 841 million tonne copper-gold (0.64% CuEq) Taca Taca porphyry deposit owned by Lumina Copper (NI 43-101 compliant Technical Report, Nov 2008).
La Sarita is part of a large mineral system that includes Taca Alto to the west, La Sarita, Teck Corp's Francisco claims and the above mentioned Lumina Copper Taca Taca deposit to the east. The mineralized area, which includes the Lumina, Teck Corp and SALTA claims is at least 16 kms north south by 12 kms east west.
SALTA has completed detailed geological mapping, sampling, alteration identification, and IP/Res/Mag geophysics. The surveys indentified two large coincident anomalies. A drill program consisting of up to 1,600 metres in four HQ core holes is planned. Core holes will test each of the coincident geochemical and geophysical anomalies. The property is road accessible.
Las Cuevas : Gold - Silver Sediment Hosted (2,998 Hectares - 7,405 Acres)
> Las Cuevas is sediment hosted open-pit bulk tonnage gold-silver prospect located in the province of Salta in northwestern Argentina, approximately 100 kilometers west of the city of Salta. Property access is by paved and gravel roads from Salta with further access via a secondary gravel road built recently during the construction of a major power line, which passes just north of the main showing.
Las Cuevas consists of two main showings and a number of related gold bearing vein occurrences within a 600 metre by 1,500 metre prospective zone. The gold mineralization is hosted in sedimentary rocks of the Late Paleozoic Puncoviscana Group. Proximal to the gold mineralization, the rocks are hornfelsed and indurated. Gold and silver values occur in areas of strong sericite-silica altered sediments cut by veinlets, stock work and gold bearing quartz veins. A core drilling program of up to 2,400 metres is planned. The property is a new discovery and was not subject to previous drilling.
Las Burras: Copper - Gold Porphyry (5,733.5 Hectares - 14,162 Acres)
The Las Burras mineral system contains highly-anomalous gold, silver, copper, lead and zinc mineralization in surface veins and related outcrops within a 4,000 metre by 5,000 metre area. The area is located some 60 km northwest of the city of Salta. The area is accessed by good secondary roads and is transected by the railway that connects Salta City with Antofagasta, Chile. Power, water and labor are available locally.
Mineralization is hosted in a Miocene (~14 million years) intrusive complex composed of monzogabbro to monzogranite, dominated by quartz monzonite and syenitic rocks. The intrusive complex is located at a major extensional jog, near the eastern limit of the Calama-Olacapato-El Toro Transverse structure where it is intersected by northerly trending faults. The intrusive complex cuts Late Proterozoic sediments and granitic rocks. Its contact with the sediments is marked by intense hornfels.
The Las Burras porphyry is marked by an 800 x 1,200 metre alteration and intensely fractured zone within a 4,000 metre by 5,000 metre laccolith-like northeast trending intrusive complex. The Las Burras porphyry is exposed only along its margins as it is situated in a pediment covered valley. The porphyry is outlined by a leached-cap weathering zone defined by the presence of goethite, jarosite and "live-hematite" in highly-fractured and altered intrusive rocks. Alteration includes secondary biotite and potash feldspar in the southeastern part and extensive quartz/sericite/clay alteration throughout most of the exposed portions of the porphyry system. Relict secondary copper mineralization is present and includes chrysocolla and turquoise. Peripheral to porphyry are sets of quartz-hematite-tourmaline veins that carry anomalous-to-highly anomalous gold, silver, copper, lead and zinc and locally molybdenum.
The initial Las Burras drill program will consist of up to four (4) core holes aggregating up to 1,600 metres. Las Burras was discovered in 1996 but was not subject to previous drilling.
SALTA personnel conducted all fieldwork under the direction of Dr. Thomas Richards Ph.D., P.Geo., who is the qualified person for the Company and has reviewed the technical content of this news release.
Cascadero Copper Corp
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