LUC CARRILL ZONE HIGHLIGHT
LUC CARRILL ASSAYS 8.5 g/t Au, 29 g/t Ag, >1% Cu and 0.47% Pb
Cascadero Copper's 50% owned subsidiary Salta Exploraciones (Salta) has received gold-silver-plus base metal assays from the Luc Carrill Zone on its optioned Luciana property (2,340 hectares) in Jujuy province, northwestern Argentina. Luc Carrill is one of several high-sulphidation sediment hosted Au-Ag polymetalic showings on the Luciana property. The property is part of the Colama-Olacapato-El Toro (COT) northwest trending transverse zone, which is a major crustal suture that controls the mineralization of several large mineral systems in northwestern Argentina and Chile.
The Luc Carrill Zone is on the northern border of Salta's Tocomar (3,000 hectare) Ag-Pb-Zn and geothermal property. The mineralization is hosted in silicified red bed sediments in an area of historic prospecting pits but with no evidence of drill holes.
Salta took seven grab samples from outcrop that averaged 3.21 g/t gold, 16.3 g/t silver, and 0.13% zinc. Two of the seven samples have 0.6% and 0.7% Cu and two others are >1% Cu. In addition, two samples are 0.2% and 0.4% Pb and one sample is >1% Pb. The samples were taken in an area 70 metres by 150 metres, and the alteration zone is open to the north. The property is under explored and the size of the mineralized zone is unknown.
Salta has entered into an Option Agreement to acquire a 100% interest in the Luciana property. The term of the Agreement is three years with a payment on signing (paid) and annual anniversary cash payments. The Agreement provides for a 1% net smelter return royalty (NSR) on gold and silver (the "First NSR") and ½ of 1% NSR on copper, lead and zinc (the "Second NSR"). Salta has the exclusive right to purchase 50% of the First NSR and 50% of the Second NSR for a total of US$1 million. There is no work commitment and no finder or agent fee payable.
Salta is planning a major exploration program that includes property scale mapping, geochemistry and trenching followed by ground based geophysics on selected targets.
The property has exceptional infrastructure. The Argentine national highway, the high-tension power line and the natural gas pipeline to northern Chile all pass through the property. Importantly, the railway to the Pacific Ocean port of Antofagasta also passes through the property.
The Company is pleased to have this exceptional property under its control. The Company believes the property has potential to host a large tonnage bulk mineable gold and silver-rich polymetalic deposit.
Table One displays the Ag-Au-Cu-Pb-Zn assay results.
LUC CARRILL SHOWING
|Element||Ag g/t||Au g/t||Cu %||Pb %||Zn %|
Assays were done by ACME Analytical of Vancouver BC. This report was reviewed and the technical contents approved by Dr. George Gale, PhD., PEng., who is the Qualified Person for the Company's Argentine properties.
Cascadero Copper Corp
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ABOUT CASCADERO COPPER
Cascadero is an integrated prospecting and mineral exploration business, which has offices in North Vancouver, BC, Sudbury, Ontario and Salta City in the province of Salta, Argentina. The Company generates, acquires and explores mineral properties in these three areas. The Company has several copper-gold porphyry prospects in the Toodoggone region of British Columbia, volcanic and intrusive hosted gold properties in the Sudbury, Swayze and Timmins camps of Ontario and holds a 50% interest in a 46 property portfolio in north western Argentina. Exploration is currently active in Ontario and Argentina and exploration will commence in June, 2011 in BC. Cascadero's commodity focus is gold, silver and copper hosted in large-scale systems. In 2011 and 2012, Cascadero plans to drill test a total of four (4) copper-gold porphyry systems, four (4) large-scale sediment-hosted gold and silver rich polymetalic systems and two sediment hosted gold-silver showings.