Highlight: FR-12-06 drills 146 metres 0.35% Cu, 0.013 % Mo and 0.05 g/t Au (0.46% CuEq)
Salta Exploraciones S.A. (Salta), Cascadero's 50% owned Argentine subsidiary, has received assays from the Francisco I and Francisco II properties in Salta province, northwestern Argentina. The properties are jointly controlled assets, 50% by Corrientes S.A., a subsidiary of Lumina Copper and 50% by Salta. The properties adjoin the Taca Taca 3.1 billion tonne Cu-Mo-Au porphyry deposit to the west.
Francisco I and Francisco II
Drill Holes and Assays
The exploration program included Gravity and Magnetic geophysical surveys and 10 reverse circulation drill holes, five on each of Francisco I and Francisco II for a total of 3,695 metres.
FR-12-06 is 130 metres west of the common Taca Taca property boundary and a 150 metre step out west of Corrientes drill hole RC-12-19. FR-12-07 is 150 metres north of FR-12-06. FR-12-08 -09 and -10 are step outs to the west and north of FR-12-06 and returned anomalous levels of Cu, Mo and Au from surface to total depth. The mineralization present in FR-12-06 and FR-12-07 could be an extension of the copper values present in the area of RC-12-19 drilled close to the common boundary by Corrientes in early 2012.
Additionally, FR-12-04, in the north western part of Francisco I, encountered intervals of copper and gold mineralization in an altered granite to a depth of 216 meters. FR-12-05 encountered two anomalous intervals of gold and copper mineralization. The higher gold content in drill holes on Francisco I may indicate a different style of mineralization, possibly an IOCG system, that could extend onto Salta's 100% owned La Sarita I and La Sarita II properties that adjoin Francisco I and II to the west. Salta believes a follow up exploration program in these areas is warranted.
Francisco I drill holes FR-12-01, -02 and -03 returned low values of copper, gold and moly. The ten drill holes on Francisco I and Francisco II, respectively 1,313 and 1,000 hectares, only tested a small portion of the properties.
The shared exploration program was formulated in a series of June and July meetings in 2012 where the VP's of Exploration, Raúl Chocobar from Salta, and Andy Carstensen from Lumina discussed and designed a cost effective exploration program to cover legally required work in order to keep the concessions in good standing. The exploration program was led by Corrientes. All of the required expenditure on both of the jointly controlled properties has been made in order to maintain the properties in good standing.
All samples from Francisco I - II were sent to ALS Minerals, Mendoza, Argentina. The assay package was ICP 33 elements + Au fire assay. Copper equivalent is calculated as: (Cu% + Au g/t x 0.583 + Mo% x 6).
This news release was prepared by Bill McWilliam, president and director of Cascadero Copper and Salta Exploraciones S.A., and was reviewed and read by Raúl Chocobar, VP Exploration and director of Salta Exploraciones SA.
Dr. George Gale, Ph.D., P.Eng., is the Qualified Person for Cascadero Copper. Dr. Gale reviewed the Francisco I and Francisco II assay data and compilation and has approved this news release.