Casa signs Letter of Agreement with Kitselas First Nations for the Pitman Project
Vancouver, British Columbia – (July 23rd, 2019) Casa Minerals Inc. (TSX-V: Casa; OTC: CASXF; Frankfurt: 0CM) (the “Company” or “Casa”) Casa Minerals Inc. is pleased to announce that it has completed a Letter of Agreement (“LOA”) with the Kitselas First Nation that provides for discussion and exchange of information for the mutual benefit of Casa shareholders and the Kitselas First Nation concerning Casa’s Pitman mineral exploration project (“Project”) within parts of Kitselas Territory, near Terrace, British Columbia.
Farshad Shirvani, Casa Minerals Inc.’s President and CEO stated: “This agreement follows a cordial and respectful series of discussions between Kitselas First Nation and Casa and we believe it is the basis of an ongoing strong and productive partnership that will be to the mutual benefit of the respective parties. The Kitselas have unique experience in developing large projects in their territory while balancing environmental and traditional values and I am excited by the prospect of working with and learning from the Kitselas”.
The LOA establishes:
- Project review activities and initial support of discussions leading to a draft Memorandum of Understanding, an Impact Management and Benefit Agreement and a formal Negotiation Funding Agreement
- Timelines and expectations for engagement
- Exchange of Project information
- Environmental monitoring
- Business and employment opportunities
- Mutual exchange of feedback information.
The LOA will be in effect until Casa Minerals Inc. is at a stage of Project development that may lead to entering into the formal Crown regulatory process.
Casa’s Pitman Project is host to the Golden Dragon network of gold veins, with vein samples that assayed up to 574 g/t over 2 feet and 269 g/t gold over 3 ft plus other metals, and the Dragon Tale discovery outcrops where initial rock samples returned assays of 231 g/t silver, 3.18% copper and 6.15% zinc.
Casa’s exploration team is finalizing details of a summer 2019 drill campaign.
Mr. Erik Ostensoe P.Geo., a director and chief geologist of the Company, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure in this news release.
About Casa Minerals Inc.
The Company is engaged in the acquisition, exploration and development of mineral properties located in Canada. The Company owns a one hundred percent (100%) interest in the polymetallic Pitman and Keaper properties and has an option to acquire a seventy-five percent (75%) interest in the Arsenault VMS Property. Planning and permitting for exploration of the properties is in progress.
The polymetallic Keaper Property is located 20 kilometers northeast of Terrace, British Columbia, and comprises 3,602 hectares.
The polymetallic Pitman Property comprises four contiguous mineral tenures covering 4,255 hectares and is located 20 kilometers north of Terrace, British Columbia. The mineral claims of the Pitman Property include several historic prospects, including the Pitman copper-molybdenum ± silver prospect, and the Gold Dome and Paddy Mac gold- base metal prospects. Casa’s field crews have been exploring the Pitman Property for several years and work is continuing with emphasis on further sampling to better define the distribution of gold, copper, silver and molybdenum values. Some parts of the property have only recently become accessible as a result of the retreat of glaciers and permanent snowfields.
Casa’s Arsenault VMS Property comprises eight mineral tenures covering approximately 9,672.5 hectares located in the Atlin Mining Division, British Columbia. The Company in recent years has conducted several exploration programs on the Arsenault Property and believes that an attractive volcanogenic massive sulphide exploration target may be located within its limits. Further work is planned, with the objective of proceeding to a drilling program to test several areas identified by geological mapping, prospecting, and geophysical and geochemical surveys.
On Behalf of Board of Directors
Farshad Shirvani, M.Sc. Geology
President and CEO
For more information, please contact:
Casa Minerals Inc.
Farshad Shirvani, President & CEO
Phone: (604) 689-9523
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
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