July 5th 2011
On June 29th 2011 Gold Fields Toodoggone Exploration Corporation ("Gold Fields"), a member of the Gold Fields Limited group of companies, initiated a six-hole core drilling program on Cascadero's 100% owned MEX copper gold porphyry prospect. The property is located in the Toodoggone region in north central British Columbia. The region is about 550 kms north of Prince George, while the MEX prospect is approximately 16 kms north east of Northgate's Kemess North copper gold deposit.
The drill program will test an outcropping area of multiphase monzonite intrusive. Evidence of copper gold mineralization occurs in the drainage to the east and north of the outcrop where gold values >400 ppb and >1,000 ppm copper are present. In addition, talus fines were sampled from an area of 500 metres by 1,000 metres immediately below the outcropping monzonite that assayed >400 ppb gold. A smaller area within this zone assayed >1,000 ppm copper.
The property was subject to a five (5) core hole drill program in 2005. The previous drilling was conducted from the top of the MEX ridge and the holes were too shallow to intersect the target geochemically anomalous zone. However, drill hole M05-01 encountered highly anomalous copper and gold values from surface that included a 123.4 metre interval that averaged 0.45 g/t gold and 0.084% copper.
On March 6th 2009 Cascadero Copper Corporation ("Cascadero") signed an Option and Joint Venture Exploration Agreement (the "Option Agreement") with Gold Fields Toodoggone Exploration Corporation. Pursuant to the Option Agreement Gold Fields can earn a 51% interest in Cascadero's Toodoggone Project in British Columbia by spending at least C$5 million over an initial three year option period. Gold Fields can earn a further 24% interest by completing a feasibility study or sole funding a further C$15.0 million in expenditures. Gold Fields has incurred about C$3.0 million of expenditures to date.
Chief Executive Officer
Cascadero Copper Corp
ABOUT CASCADERO COPPER
Cascadero Copper is an integrated prospecting and mineral exploration business. The Company 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 has recently commenced in British Columbia.
Cascadero's commodity focus is gold, silver and copper hosted in large-scale mineral systems. In 2011 and 2012, Cascadero plans to drill test a total of four copper-gold porphyry systems. In addition, Salta intends to drill four large-scale sediment hosted gold and silver-rich polymetalic systems and two sediment hosted gold-silver showings.
For more information please contact Alan or Janice Feldman at AJF Consultants:
1207 Beach Grove Road, Tsawwassen, BC
Office = 604-948-9663 Cell = 604-377-2942