Prospecting, outcrop sampling and trenching on the Las Cuevas gold prospect in northwestern Argentina by Salta Exploraciones has confirmed the presence of a bulk tonnage gold showing.
TABLE ONE below displays assay results from trenching on the Las Cuevas gold discovery.
LAS CUEVAS TRENCHES
The trenches are cut west to east across the north-northwest trend of the mineralization and are open with respect to the extent of the altered sediments and all ended in mineralization.
TABLE TWO below displays the assay data from 390 grab samples from outcrop on the property.
LAS CUEVAS REGIONAL SAMPLES
* The grab samples were of various sizes and weights so an arithmetic or weighted average of these samples would not represent an accurate gold grade.
The property is hosted in turbidic sediments and volcanics of the Late Proterozoic Puncoviscana Group in the eastern margin of the Puna of the Argentine Andes. Mineralization is of the mesothermal type representing an example of turbidite-hosted gold, represented by the world class Bendigo and Ballarat gold deposits of Australia.
The Las Cuevas prospect lies within the El Toro fault zone which forms part of the major northwest trending transverse fault structure that crosses the whole of the Andes and is host to numerous mineral deposits, including Chuquicamata. Mineralization at Las Cuevas is hosted within the axial plane cleavage zones of northwesterly trending folds associated within the El Toro structure. The gold showings occur as stockwork, veins, veinlets and breccia in sericite altered sediments.
The Discovery Zone is the largest known area and is the focus of most work. It is exposed for 300 metres east west by 450 metres north south with about 50 metres of exposed vertical relief. The Hilda Abra Zone is about 1,300 metres west of the Discovery Zone where outcrops with gold mineralization are variably exposed in an area 150 metres east west by 500 metres north south. Several high-grade gold values occur in a dense array of narrow veins on this property. Both the Discovery and Hilda Abra Zones are hosted in axial planes of northerly trending folds adjacent to a prominent right-lateral strike slip fault.
A third zone, the Hilda Abajo Zone is located about 300 metres to the southwest of Hilda Abra Zone and is comprised of local gold bearing veins and veinlets hosted within a 100 metre diameter circular feature. Very little work was done in the latter two areas.
In addition, there are gold bearing outcropping veins and altered sediment in a number of zones between and around the above named three zones. All zones are also anomalous in silver with the highest value assayed at 97 g/tn silver.
Regionally the mineralization occurs in altered sediments present as abundant quartz veins that have a dominant north-northwest trend. Identified minerals at Las Cuevas include chalcopyrite, chalcocite, covellite and native gold. The alteration assemblage is primarily pyrite, sericite and quartz.
Infrastructure at Las Cuevas is excellent, which includes road access, a high-voltage power line, and the railway line to Antofagasta is close by. There are nearby towns and villages that supply qualified local labor. The area also has a good water supply, excellent heap leach weather conditions and work on the prospect can occur round. Las Cuevas is a new discovery by Salta Exploraciones and has no known history of previous exploration.
The Company intends to initiate a 1,200 metre core drilling program consisting of four 300 metre holes on the Discovery Zone as soon as permitting and environment issues are completed. The program is expected to start in early November. The property is located in northwestern Argentina and is 100% owned by Salta Exploraciones SA, which is 50% owned by Cascadero Copper.
All fieldwork was conducted by Salta Exploraciones and SEGEMAR personnel under the direction of Dr. Thomas Richards PhD, who is the Qualified Person for SALTA Exploraciones. All samples were handled and shipped by Salta personnel and sent to ACME Laboratories in Santiago, Chile for preparation and then flown to ACME Laboratories in Vancouver BC for ICP-MS assay.
Cascadero Copper Corp
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