Vancouver, British Columbia – (June 25th, 2019) Casa Minerals Inc. (TSX-V: Casa; OTC: CASXF; Frankfurt: 0CM) (the “Company” or “Casa”) is pleased to announce commencement of exploration on its 100% owned Pitman Polymetallic property located 20 kilometers north of Terrace, British Columbia. The “Golden Dragon discovery vein network” at Pitman has returned rock surface assays up to 574 g/t Gold and 269 g/t Gold, and “Dragon Tale discovery outcrops” returned rock assays as high as 231 g/t Silver and 6.15% Zinc.
Dr. Ron Britten, P.Eng., has been contracted to review and examine the Golden Dragon and Dragon Tale discoveries. This work includes current geological mapping, directing a chip channel sample program across the targets for analysis, selecting key rock samples for petrographic (microscopic) examination, help guiding the exploration team and to recommend future exploration programs.
Casa’s exploration team is finalizing details of a summer 2019 drill campaign.
Golden Dragon and Dragon Tale:
The Golden Dragon (“GD”) vein network was explored in 2018 by Casa’s field crew that prospected and sampled the historic Paddy Mac and Gold Dome gold prospects and nearby areas, some parts of which have recently become accessible due to melting of glaciers. The GD vein system includes multi-level semi-parallel veins of apparent east-west attitude that have been traced intermittently over approximately 500 metres. Numerous occurrences are daylighted on the north facing slopes of the Nass Plateau and are overlain to the west by talus material. Veins are inclined southerly at 55 to 65 degrees and are hosted by brecciated argillite cemented by stringers of quartz and irregularly distributed pods and veinlets of pyrite and chalcopyrite. Vein widths vary and in places are as much as three metres (10 feet) and several have not been adequately mapped and sampled.
Rock samples from the Golden Dragon discovery area have returned analyses with very significant gold, silver and base metal values including those in the following table:
|Sample ID Golden Dragon||Type||Thickness||Gold (g/t)||Silver (g/t)||Copper (%)||Lead (ppm)|
|A0007218||Vein (Rock chip sample – 2018)||2 ft (0.61 m) vein||574.42||109||0.1||15600|
|A0007221||Vein (Rock chip sample – 2018)||3 ft (0.91 m) vein||268.86||127||0.2||29500|
|A0007219||Vein (Rock chip sample – 2018)||1 ft (0.3 m) vein||50.83||28||Trace||2100|
The Dragon Tale (“DT”) prospect, located 2.2 km south of the Company’s Golden Dragon gold area, is a possibly significant zone of mixed sulphide mineralization that was first reported in a news release dated October 16, 2018. Samples from prospecting and rock and soil geochemical sampling of “Dragon Tale” (“DT”) area returned assays as high as 231 g/t Silver and 6.15% Zinc. The “DT” area has not been adequately sampled: several samples with significant Silver, Copper, Lead and Zinc values are included in the following table:
|Sample ID Dragon Tale||Type||Silver (g/t)||Copper (%)||Lead (ppm)||Zinc (%)|
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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