This week Gold Fields Ltd is planning to commence a core drilling programme on Cascadero Copper's Marble Mountain gold prospect. The property is located about 55 kms north of Sudbury, Ontario in Parkin Township. Gold Fields will test the Pyrite Hill and Calcite targets with up to 1,500 metres of core drilling. Gold Fields is the operator of the Marble Mountain project.
Cascadero holds an option agreement that enables it to earn a 100% interest in Marble Mountain. Gold Fields can earn an initial 65% interest by paying $700,000 cash and capital spending of $600,000 before November 1st 2014. Gold Fields has committed to a first year expenditure of $300,000 and has completed an option payment of $50,000.
Gold Fields may elect to earn an additional 10% by completing a feasibility study or contributing C$20,000,000 in expenditures whichever occurs first.
Marble Mountain is a gold prospect marked by a pyritic gossan. The property has good road access. Samples taken by Cascadero geologists assayed high-gold values, up to 32 g/t Au, in pyritic sediments with relatively low-silver and base metal values. Details of the property are outlined in Cascadero press release dated April 14, 2011.
Bill McWilliam
Chief Executive Officer
Cascadero Copper Corp
Cell: 604-999-0391
Office: 604-924-5504
Email: bill@cascadero.com
ABOUT CASCADERO COPPER
Cascadero Copper is an integrated prospecting and mineral exploration business with offices in North Vancouver, BC, Canada, Sudbury, Ontario, Canada and Salta City in the province of Salta, Republic of Argentina. The Company generates, acquires and explores mineral properties and it active in the three jurisdictions.
In north central British Columbia, the Company has a 100% interest in a 31,000 hectare property in the Toodoggone region, which is prospective for copper gold porphyry systems. This property is subject to a C$20 million Joint Venture with Gold Fields.
In Ontario, the Company holds or has the right to acquire a 100% in 17 properties in the Sudbury, Swayze and Timmins camps, which are volcanic and sediment hosted copper gold prospects.
In north western Argentina, the Company holds a 50% interest in a 46 property portfolio, which consists mainly of bulk mineable copper-moly-gold porphyries and bulk mineable sediment hosted silver-gold plus base and rare metals.
In 2009, the Company discovered Taron, a large bulk mineable sediment hosted epithermal rare metal deposit in Argentina. In 2011, Cascadero discovered Las Burras, a new Argentine Cu-Mo-Au porphyry.
The Company holds a large claim block that adjoins Lumina Copper's Taca Taca Bajo Cu-Mo-Au deposit. Several copper and gold showings exist on these claims and an exploration program is in the planning stage.
Cascadero's commodity focus is gold, silver, moly, copper, base and rare metal hosted in large-scale bulk mineable mineral systems.
In 2012 to 2013, Cascadero intends to conduct exploration in three core areas: Pancho Arias Cu-Mo-Au porphyry District, the Taca Taca porphyry District and the bulk mineable sediment hosted silver prospects in the El Oculto District. Exploration is also planned for Taron, an exciting large-scale sediment hosted rare metal discovery.
For more information please contact:
Allan or Janice Feldman at AJF Consultants:
1207 Beach Grove Road, Tsawwassen, BC
Office: 604-948-9663
Cell: 604-377-2942
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.
