Cache Exploration Drilling Intersects Visible Gold at Kiyuk Lake Gold Project, Nunavut
August 31, 2017: Cache Exploration Inc. (the "Company", or "Cache"), (TSX-V:CAY) is pleased to announce that its drilling program at Kiyuk Lake project in Nunavut is in progress, with four (4) holes collared to date. The program has recovered visible gold ("VG") during detailed logging of drill hole KI17-001 in the Rusty Zone although assays are as yet outstanding. To view photos of the drill core with visible gold, please view photos at end of this release or navigate to: https://www.cacheexploration.com/wp-content/uploads/2017/08/rusty-zone-drill-core-photos.pdf
Three (3) holes have been completed and sampled. The initial program holes are intended to extend delineation of the historic mineralization recognized at the Rusty Zone along its inferred strike, and down-dip and down-plunge.
Assay Results Pending
Assay results from KI17-001 are expected in the next week. Recognition of VG has led to additional assay criteria being requested (to ensure proper treatment for any possible nuggety nature of the mineralization), and may result in a minor delay.
A total of 300 samples from the first three drill holes have been shipped to SGS Canada Inc. in Red Lake for analysis of contained gold. In addition, 150 till samples from grid sampling north of Kiyuk Lake have been shipped for analysis to Bureau Veritas in Vancouver.
Rusty Zone Drilling
Drill hole KI17-001, in the Rusty Zone, is a step out from KI13-011, targeting the southward extension of gold mineralization intersected in KI13-011 which ended in 24.0 m at 2.5 g/t Au (previously reported). Drill hole KI17-001 was drilled to a depth of 287.75 m and visible gold was observed in a section of strongly altered and brecciated sandstone from 110 meters to 112 meters.
Drill hole KI17-002, also in the Rusty Zone, was designed to test the eastward extension of gold mineralization adjacent to the Rusty Zone discovery hole RU11-001 which returned 38 m at 4.2 g/t Au from surface (previously reported). Drill hole KI17-002 was drilled to a depth of 209.1 m.
Both KI17-001 and KI17-002 intersected multiple intervals of sulphide-bearing, carbonate-actinolite vein development.
Drilling at Rusty continues with KI17-004 targeting the down plunge northward extension of gold mineralization intersected in KI13-004 which graded 22 m at 3.4 g/t Au (previously reported).
KI13-003 was abandoned at 86 m owing to difficult drilling in blocky ground.
To view a plan map of the Rusty Zone, please navigate to: http://www.cacheexploration.com/wp-content/uploads/2017/08/2017-08-02-nrm-rusty-cay-uy95qm.pdf
The Rusty Zone is an area of intense magnetic anomalism where gold mineralization is typically associated with brecciated sandstone intervals characterized by infilled albite, actinolite, calcite, dolomite, quartz, and magnetite mineralization with abundant pyrrhotite and small grains of native gold.
Highlights from previous drilling at Rusty include:
-
-52.4 m at 3.27 g/t Au from surface
-35.9 m at 4.95 g/t Au from 134.1 m
-61.5 m at 3.3 g/t Au from 159 m
-24.1 m at 3.40 g/t Au from 34.0 m
About Cache Exploration
Cache Exploration is solely focused on its Kiyuk Lake Property covering 590 square kilometers in southwest Nunavut.
Kiyuk Lake Property Highlights
-
-A true district play covering a majority proportion of the Proterozoic Kiyuk Basin
-12,000 meter drill database: 2008-2013
-Gold Showings over a 15 Km Strike Length
-Multiple Gold Intercepts over 3 g/t
-Four Discrete Mineralized Zones (Rusty, Gold Point, Cobalt, Amundsen)
-Significant expansion possible with five new target areas identified and ready for drilling
Chris Pennimpede, P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical mining information provided in this release.
For more information about Cache Exploration, please visit: http://www.cacheexploration.com/
On behalf of the Board of Directors
"Jack Bal"
Jack Bal
Chief Executive Officer
FOR MORE INFORMATION, PLEASE CONTACT:
Jack Bal
604-306-5285
jackbal@cacheexploration.com
Rusty Zone Hole KI17-001 110.95m-111.2m
Click Image To View Full Size
Rusty Zone Hole KI17-001 111.2m-111.4m
Click Image To View Full Size
Rusty Zone Hole KI17-001 111.2m-111.4m
Click Image To View Full Size
Rusty Zone Hole KI17-001 248.75-249m
Click Image To View Full Size
Rusty Zone Hole KI17-001
Click Image To View Full Size
Rusty Zone Hole KI17-001
Click Image To View Full Size
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Kiyuk Lake Property: statements pertaining to the capacity or ability of Cache Exploration Inc. ("CAY"); the potential to develop resources and then further develop reserves; the anticipated economic potential of the property; the availability of capital and finance for CAY to execute its strategy going forward. Forward-looking statements are based on estimates and assumptions made by CAY in light of its experience and perception of current and expected future developments, as well as other factors that CAY believes are appropriate in the circumstances. Many factors could cause CAY's results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release
Copyright (c) 2017 TheNewswire - All rights reserved.