On August 28, 2024, Cascada Silver Corp. announced the commencement of drilling activities at its Mina Guanaca Copper Property, situated 110 kilometers northeast of the City of Copiapó, Region III, Chile. Cascada holds an option to acquire a 100% interest in Mina Guanaca.
Carl Hansen, the CEO of Cascada, expressed enthusiasm for the drilling program, which aims to test the down dip extension of copper oxide mineralization and an induced polarization chargeability low potentially associated with copper porphyry mineralization. Three drill holes ranging from 250 to 300 meters have been strategically planned for the initial phase, with additional drilling contingent on visual results. Assay results from the Phase 1 program are expected in October 2024.
Prior drilling programs at Mina Guanaca reported notable results, including various intervals with significant copper grades. Cascada plans to leverage historical exploration data to guide its future exploration efforts.
Under the terms of the agreement, Cascada has the option to earn a 100% interest in Mina Guanaca by fulfilling payment obligations and conducting a specified amount of drilling annually. Additionally, Research Capital Corporation has been engaged to provide financial advisory services.
Sergio Diaz, a qualified person under National Instrument 43-101, is overseeing Cascada’s exploration activities in Chile. Cascada aims to explore mineral deposits in Chile with the goal of developing economically viable projects.
Forward-looking statements have been included in this release, outlining the company’s plans for evaluation, exploration activities, and mine development prospects. Cascada acknowledges the inherent risks associated with such forward-looking statements and urges caution when relying on them.
The Canadian Securities Exchange has approved the issuance of CSS common shares to Research Capital Corporation, subject to a statutory restriction period. Readers are encouraged to read the full press release on the official source.
