Toronto, Ontario–(Newsfile Corp. – October 19, 2022) – Cascada Silver Corp. (CSE: CSS) (“Cascade“) is pleased to announce that it has staked the Golden Lake Property (the “Property”) located 1,350 kilometers south of Santiago in the XI Region of Chile. The Property, located adjacent to the western boundary of the concessions owned by Minera Newmont Chile Ltda (see attached location map), covers part of the Pollux Gold District which hosts a series of eroded gold-bearing veins identified by Homestake Chile SA (“Homestake”) in the early 1990s.
“With the international community more receptive to investment in Chile now that recent constitutional elections suggest a more business-friendly environment, we have intensified our review of potential acquisitions and have a shortlist of projects for which we are continuing our discussions,” said Carl Hansen, CEO of Cascada.
“The Golden Lake property represented an attractive opportunity to acquire open land in the Pollux gold district which has seen renewed interest in exploration. The property covers prospective ground approximately 200 meters above the claims. adjacent to the east that host the main orientation of the epithermal veins.Our goal is to discover epithermal veins at higher elevations that have undergone less erosion and, therefore, may retain gold and silver mineralization of higher grade bonanza style. Preliminary prospecting, mapping and sampling will begin on the Golden Lake property in the coming weeks.”
The Pollux gold district was originally explored by Homestake who reportedly undertook geophysical surveys, collected 2,300 surface samples and completed 32 drill holes outlining two northeast trending low sulphidation vein systems. Homestake halted work on the Pollux concession in 1993 to focus on the company’s Volcano discovery in Region III of Chile. From 1994 to 1998, Aur Resources Chile Ltda. explored the vein systems, apparently drilling 11 holes. In the early 2000s, private company Patagonia Gold completed 2,000 meters of reverse circulation drilling. The results are unknown.
43-101 Technical Disclosure
The qualified person, as defined by NI 43-101 of the Canadian Securities Administrators, for Cascada’s exploration activities in Chile is Sergio Diaz, a resident of Santiago, Chile. Mr. Diaz is a registered public person for Reserves and Resources No. 51, Chile and is also registered at the Colegio de Geólogos de Chile under No. 315.
About Cascada Silver Corp.
Cascada is a mining exploration company focused on Latin America. Cascada’s team of exploration professionals are dedicated to finding mineral deposits that can be turned into economically viable development projects that create value for all stakeholders.
On behalf of Cascada Silver Corp.,
Carl Hansen, CEO
For more information, please contact us at [email protected].
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to: plans for evaluating exploration properties; the success of evaluation plans; the success of exploration activities; mining development prospects; and potential for future metal production. Often, but not always, forward-looking statements can be identified by the use of words such as “anticipates”, “plans”, “expects” or “does not expect”, “continues”, “expects “, “estimates”, “plans”, “intends”, “potential”, “anticipates”, “does not anticipate”, or describes an “objective”, or a variation of these words and expressions or declares that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be carried out.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from actual results, predictions, projections, forecasts, performance or future achievements expressed or implied. by forward-looking statements. These factors include, among others: changes in economic parameters and assumptions; all aspects related to the timing of exploration activities and the receipt of exploration results; the interpretation and actual results of ongoing exploration activities; changes in project parameters as plans continue to be refined; results of regulatory and licensing processes; future metal prices; possible variations in grade or recovery rates; failure of equipment or processes to perform as intended; labor disputes and other hazards of the mining industry; the results of economic and technical studies; delays in obtaining government approvals or funding or in completing exploration; as well as factors disclosed in documents filed publicly by Cascada.
Although Cascada has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actual actions, events or results are not those anticipated, estimated or intended. . There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepts responsibility for the adequacy or accuracy of the contents of this press release.
To view an enhanced version of this graphic, please visit:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141173