Casa Minerals Inc. (TSX-V: CASA / OTC-Pink: CASXF / Frankfurt: OCM) (the “Company or “Casa”) is pleased to announce it has successfully completed the first phase diamond drilling, totaling 6,828 feet, at its Congress gold deposit located in Martinez Mining District of Yavapai County, Arizona.
Drilling intersected newly discovered vein structures, as well as the formerly productive Congress and Niagara veins. The initial phase of drilling was designed to improve historic data and to generate updated information on the geology and mineralization of the Congress Gold Mine gold-bearing structures. Distinct veining structures were encountered as expected, as well as previously unrecorded veins. The veins have been carefully mapped, measured, and sampled to be assayed and that data will be used in the future resource evaluation.
Casa Minerals president and CEO, Mr. Farshad Shirvani commented “We are very encouraged by the completion of this first phase of drilling. The Company’s objective is to advance the Congress Mine with multi-stage exploration and development programs. This initial drilling advances Casa toward re-establishing the Congress Gold Mine as a potentially producing gold mine once again.
Casa’s HQ diamond drill program was guided by a Registered Professional Geologist who supervised drilling operations, assumed custody of drill cores, and managed core processing and sampling. Core samples are being analysed at an independent ISO-9000 certified commercial analytical laboratory, and results will be released following receipt and confirmation.
Ten drill holes with a total length of 6,828 ft were drilled with majority on the Congress and Queen of the Hills Claim blocks. Locations and other details are presented in Table 1. True thicknesses have not been determined and are presented as measured in cores.
Table 1: Drill hole location and details.
|Hole||East (m)||North (m)||Elev. (m)||Azimuth||Inclination||Length (ft)||Remarks|
|CGC-001||329060||3786521||1023||0||-90||498||3 veins recorded: longest vein core length is 13 ft.|
|CGC-002||329068||3786529||1023||225||-50||245||3 veins recorded: longest vein core length is 20 ft.|
|CGC-003||329217||3786324||1045||0||-90||757||1 vein recorded with 27 ft.|
|CGC-004||329217||3786326||1045||225||-50||420||2 veins recorded: longest vein core length is 40 ft.|
|CGC-005||329370||3786165||1100||0||-90||1,197||12 veins recorded: longest vein core length is 16 ft.|
|CGC-006||329372||3786160||1099||270||-50||483||1 vein recorded with 28 ft.|
|CGC-007||329920||3786384||1070||0||-90||928||5 veins recorded: longest vein core length is 26 ft.|
|CGC-008||329920||3786386||1070||160||-50||750||6 veins recorded: longest vein core length is 33 ft.|
|CGC-009||329850||3786182||1045||0||-90||800||18 veins recorded: longest vein core length is 80 ft.|
|CGC-010||329850||3786184||1045||190||-50||750||5 veins recorded: longest vein core length is 29 ft.|
The following map illustrates the location of drill holes and observed vein intercepts.
Map 1. Property, Drill Holes and Intercepts
- The vein thickness is combined for each drill hole.
- Veining is based on visual observations, assays pending.
Table 2. Tabulation of vein observations.
|Table 2. (a)||Continued: Table 2. (b)|
|Hole||From (ft)||To (ft)||Thickness (ft)||Code||Hole||From (ft)||To (ft)||Thickness (ft)||Code|
About Congress Gold Mine Project:
Since purchasing the Congress property, Casa has compiled all available technical data concerning the former mining operations. Documented mining operations, at intervals from 1880 to 1980 produced 426,000 ounces of gold, followed from 1982 to 1988 by poorly documented operations that may have produced an additional 75,000 ounces.
About Casa Minerals Inc.
The Company is engaged in the acquisition, exploration and development of mineral properties located in Canada and the USA. Casa owns ninety percent (90%) interest in the Congress gold mine (Arizona, USA). This historic high-grade gold producing mine has not been explored nor been in production since 1992. Additionally, the Company owns a one hundred percent (100%) interest in the polymetallic Pitman and Keaper properties (BC, Canada) and has an option to acquire a seventy-five percent (75%) interest in the Arsenault VMS Property (BC, Canada).
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) 678-9587
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.