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North Vancouver, BC, Canada, March17, 2023 – Cascadero Copper Corporation (“Cascadero” or the “Company”) (TSXV:CCD) announces that it has commenced a laboratory testing program at the University of British Columbia on mineral samples from the Taron (Argentina) deposit.
The Cascadero Copper Corporation Cesium Extraction Process (United States Patent 10,738,370, August 11, 2020) uses acid extraction to dissolve cesium from the Taron mineralization. Cesium is then precipitated from solution as a cesium alum with the addition of aluminum sulfate. The cesium alum is then recrystallized and purified to form a cesium hydroxide solution. Cesium hydroxide is a pre-cursor for manufacture of cesium salts, including cesium formate for drilling fluid (for oil and gas drilling).
The objective of the testing program is to investigate acid leaching of cesium with the goal of minimizing the acid usage per unit of cesium extraction and recovering dissolved cesium from solution. The testing will last three months. The test results from this program will be used to complete an engineering scoping study on the recovery of cesium from the Taron mineralization.
The Company also announces that it intends, subject to the acceptance of the TSX Venture Exchange, to extend the expiry date of the warrants that were issued on April 1, 2021 to purchase a total of 14,285,714 common shares of the Company at an exercise price of $0.05 per share (the “Warrants”) from 24 months from the date of issuance to 48 months from the date of issuance. Once the expiry date extension is accepted by the TSX Venture Exchange, the new expiry date for the Warrants will be April 1, 2025.
About Cascadero Copper Corporation
Cascadero Copper Corporation is focused on the exploration and development of its properties located in Salta, Argentina. The Company currently has a joint venture with Golden Minerals on its Sarita Este license. In addition, the Company has newly appointed technical advisors to work with the board and management to provide advice on exploration and development of the Cascadero mineral properties in Argentina and on other future properties of merit. The Cascadero research and development team that was instrumental in developing the patent-pending mineral processing flowsheet on Taron mineral samples are expected to continue their work under the guidance of the Board.
All material information on the Company may be found on its website at www.cascadero.com and on SEDAR at www.sedar.com.
For further information, please contact:
Dr. George Gale
Interim CEO
Tel: 604-985-3327
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.
Cautionary Statement Regarding “Forward-Looking” Information.
This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to the cesium extraction testing program and its test results, the use of such test results including completing an engineering scoping study, and the extension of the Warrants expiry date. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the risk that the testing program may not proceed or fail, the use of any test results including an engineering scoping study may not proceed as contemplated or at all, the warrant expiry extension may not be accepted by the TSX Venture Exchange or the Company may not proceed with the extension. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
