In April and May 2010 Salta Exploraciones, Cascadero's 50% owned subsidiary, completed three HQ core holes for a total of 1,046.7 metres. Each drill hole tested one of three of the eight identified chargeability anomalies. LS-10-01 encountered anomalous copper mineralization over most of the drill hole. The best interval was from 68 to 98 metres, which assayed 0.36% copper over 30 metres. Gold values were low except for one 2-metre interval that assayed 1.09 g/tn. LS-10-02 also encountered anomalous values of copper and the best interval was between 100 to 106 metres, which assayed 0.13% copper. Gold values were low throughout the drill hole. LS-10-03 encountered a 20-metre interval, which assayed 0.06% copper also with low gold values. The best molybdenum assay occurred in LS-10-03 at 120 ppm Mo.
Mineralization on La Sarita property comprises two interrelated mineralized systems: first, a regionally extensive vein-stockwork-breccia hematite system traceable for 16+ km; and, second, an easterly trending 5 km x 3 km hybrid iron-oxide-copper porphyry system of which Taca Taca Alto and La Sarita form the western half (Richards, 2004b).
Two parallel systems (to 10 metres width) comprised of veins, breccias, stockwork, replacements, stringers and masses of specular hematite are traceable for some 12 kms along the length of the property and their known extent is in excess of 16 kms. Associated with the hematite development is strong potash feldspar alteration. Quartz, fluorite and magnetite are common accessories with the hematite and locally constitute an important component. Copper mineralization, as secondary copper minerals, is noted sporadically with these vein structures. Anomalous values of REE (lanthanum up to 250 ppm) and cobalt (to 450 ppm) are present. In the northern parts of the system, off the immediate flanks of the hematite vein-breccia system a small pit revealed values in excess of 30 gm/t gold and >1% copper associated with hematite-sericite-quartz alteration. Although the belt is dominated by these two northeasterly trending hematite-dominant systems, similar styles of mineralization are widespread throughout the eastern flanks of the main Sierra Taca Taca range. In addition, copper mineralization is noted from a number of localities along the western flank of the Sierra range.
The south central part of the property is underlain by a hybrid IOCG porphyry system that includes the Taca Taca Alto porphyry, together measuring some 5 km x 3 km. The Taca Taca Alto setting represents a dominantly argillic and phyllic altered western shell to this porphyry and is known to contain numerous occurrences of hematite, copper phosphate (turquoise) and tourmaline. On the La Sarita property and extending beyond its eastern border, volcanic and granitic rocks are extensively altered to k-feldspar, phyllic and argillic assemblages. Within this zone, extensive areas contain veins, veinlets, stockwork and fractures containing hematite, quartz, jarosite, and copper (copper phosphate) mineralization. The sequential development of this mineralization shows early wide spread development of specularite, followed by sequences of hematite-quartz, hematite-quartz-jarosite+/- copper (turquoise) and quartz-jarosite-copper. These are variants of a porphyry copper system. This IOCG- style porphyry locally hosts gold in the 100+ ppb range.
La Sarita-Taca Taca Alto system of mineralization is a variant of an IOCG system. The porphyry system, marked by Taca Taca Alto and its eastern continuation on the La Sarita property, is located at the intersection of the northeast trending, 16 km+ long hematite vein-breccia system and a major northwest trending transverse cross-structure marked by the presence of two porphyry systems, strong linear features as well as young basalt cones and rhyolite domes. The whole of the system is known to be anomalous in copper, gold, REE, U, cobalt, phosphorus and fluorite associated with hematite, magnetite and potash feldspar alteration. Recognition of this area as an IOCG setting is recent and known by few exploration geologists, such as Russell Charles Dow and Murray Hitzman (2001). La Sarita area possesses all the ingredients to host potential significant mineralization related to this system including size, structural setting and the presence of Taca Taca Abajo, a known Cu-Au-Mo deposit.
A NI-43-101 Technical Report on La Sarita is prepared and will be distributed in the near future, which recommends the continuation of the 2010 drill program.
Salta Exploraciones is currently focused on eight of its 43 Argentine properties that are in various stages of development. The Company is planning an active exploration program for the next 12 months on several large-scale prospects.
All geochemical assays mentioned in this news release were performed by ACME Analytical Laboratories in Santiago Chile. Salta Exploraciones personnel conducted all fieldwork under the direction of Raul Chocobar and Dr. Kenneth M. Dawson, Ph.D., P.Geo, who is the qualified person for the Company and has reviewed the Argentine technical content of this news release.
Cascadero Copper Corp
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