Cascadero Copper and Coralbrook Ltd have agreed on a US$1.6 million exploration program that includes up to 5,600 metres of core drilling on two copper-gold porphyry prospects and one sediment hosted gold-silver prospect. The properties are 100% owned by Salta Exploraciones S.A. (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 first part of the drill program is 1,600 metres at La Sarita.
LA SARITA IOCG PORPHYRY - COPPER - GOLD - REE PROSPECT (5,882 hectares)
The western Puna of north western Argentina is a newly recognized IOCG belt of Tertiary age that includes the 500 million tonne El Laco magnetite-hematite deposit in Chile and the Rio Grande-Arizaro Cu/Au prospects in Argentina (Mansfield Minerals, Antares Minerals). These deposits are characterized by not only by the abundant presence of hematite and/or magnetite, but also by anomalous to economic quantities of Cu, Au, REE, Co, U and Ag. A process suggested accounting for the size and metal content of certain IOCG deposits is for the hydrothermal solutions to be of a very high-salinity that has been enhanced from contemporaneous Salars or older evaporitic (Paleosalars) sequences.
In the western Puna, Miocene to recent volcanic activity and high-level intrusions host a wide variety and number of mineral showings and alteration zones that overlie and intrude the Late Eocene-Oligocene evaporite red-bed assemblages. Mineralization is best developed along transverse and longitudinal faults west of Salar Arizaro. Of these, the La Sarita prospect has recognized IOCG signatures that include the presence of hematite and magnetite, anomalous to highly anomalous Cu, Au, REE, Co, P, U and F in association with wide spread regional potash feldspar and hematite alteration. TLa Sarita property is located 30 km west of the village of Tolar Grande, some 300 km from the city of Salta. It accessed by an all weather road to the western edge of Salar Arizaro and the Taca Taca Abajo (Lumina Copper) prospect, then by ATV trails. A railway between Chile and Argentina lies to the immediate north of the property.
The prospect underlies the prominent northeast trending Sierra Taca Taca horst block located along the northwestern margin of Salar Arizaro. This horst is host to a variety of styles of mineralization that include Taca Taca Abajo deposit (841 million tonne copper-gold 0.64% CuEq Taca Taca porphyry deposit owned by Lumina Copper NI-43-101 compliant) and Arriba porphyry copper/gold systems and Taca Taca Sur low-sulphidation system. The main range is underlain by Eocene volcanic rocks cut by numerous dykes, sills and plugs that in part host the Taca Taca Arriba prospect and older granitic rocks. East of the main ranges, separated by a prominent northeast trending graben, the dominant bed rock is comprised of Paleozoic granite intruded by a small stock (3 x 1.75 km) that hosts the 29-35 Ma Taca Taca Abajo porphyry. The Sierra Taca Taca horst is transected by northeast trending structures and by a major transverse northwest trending structure.
Mineralization on the La Sarita prospect comprises two interrelated mineralized systems: a regionally extensive vein-stockwork-breccia hematite system traceable for 16+ km and an easterly trending 5 x 3 km hybrid iron-oxide-copper porphyry system of which La Sarita forms part of the western half.
Along the length of the property, two parallel systems (up to 10 m wide) comprised of veins, breccias, stockworks, replacements, stringers and masses of specular hematite are traceable for some 12 km. Associated with the hematite development is a 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, is present sporadically within these vein structures. Anomalous values of REE (lanthanum up to 250 ppm), cobalt (to 450 ppm) and on La Sarita Sur values of uranium are present with this system. In the northern parts of the system, off the immediate flanks of the hematite vein-breccia system a small pit revealed values of 34 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 has been noted from a number of localities along the western flank of the Sierra.
The south central part of the property is underlain by a hybrid IOGC porphyry system that includes the Taca Taca Arriba porphyry, together measuring some 5 x 3 km. The Taca Taca Arriba setting represents a dominantly argillic and phyllic altered western shell to this porphyry and is known to contain numerous occurrences of hematite, copper phosphate and tourmaline. And, extending beyond La Sarita's eastern border, volcanic and granitic rocks are extensively k-feldspar, phyllic and argillic altered. Within this zone, extensive areas contain veins, veinlets, stockworks 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 systems are variants of a porphyry copper system. The La Sarita IOCG style porphyry locally hosts gold in the 100+ ppb range.
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. Two core holes will test each of the anomalous areas.
The drill program is expected to begin on March 20th and take about 20 days to complete. Two other properties, Las Cuevas, 2,400 metres drill program(sediment hosted gold-silver) and Las Burras, 1,600 metres of drilling copper, gold, silver, lead, zinc porphyry) are the subject of a news releases currently in preparation.
Cascadero optioned its Toodoggone property (30,600 has) located in north central British Columbia to Gold Fields Toodoggone Exploration Corporation ("Gold Fields") in March 2009. Between April and October of 2009, Gold Fields completed a C$3 million exploration program, which included airborne and ground geophysics, mapping, sampling and core drilling. Gold Fields has an option to acquire a 75% interest in the property for a cumulative expenditure of C$20 million. Gold Fields has declared an event of force majeure as a result of objections raised by First Nations to continuing exploration work on Cascadero's Toodoggone mineral claims. Gold Fields advised Cascadero that it intends to suspend further exploration work on the claims until the situation is resolved. No timetable was provided for the resumption of exploration work.
All geochemical assays mentioned in this news release were performed by ACME Analytical Laboratories in Vancouver BC. SALTA Exploraciones 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 Argentine technical content of this news release.
Cascadero Copper Corp
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.