Cascadero Copper Corp.

Cascadero Copper Corp.

October 07, 2005 10:04 ET

Cascadero Copper Corporation: Mex Prospect-New Gold Discovery

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 7, 2005) - The Company (TSX VENTURE:CCD) has completed a first phase 4-core hole program on the Mex prospect. All holes encountered copper, zinc and gold values. The best hole was M05-01 that assayed 0.06% copper, 0.12% zinc and 0.401 grams per tonne gold from 0 to 145.4 metres. The hole bottomed in mineralization and returned 7.4 metres, from 138 to 145.4 metres that assayed 0.18% copper, 0.04% zinc and 1.75 grams per tonne gold. The hole was lost at 145.4 metres due to poor rock conditions.

The Mex copper-gold porphyry prospect is located adjacent and to the east of the Pine-Fin-Tree porphyry copper-molybdenum-gold porphyry deposits in the Toodoggone area in north central BC. The property is 100% owned by Cascadero copper and is subject to a net smelter return royalty in favour of Electrum Resource Corp.

The Mex prospect is underlain by mineralized Jurassic monzonite intrusive and Toodoggone volcanic rocks, which is similar to the Pine-Fin-Tree geological setting. Historic work in the area was conducted by Cominco, Hunter Dickenson and Stealth Minerals and included mapping, sampling and geophysics but no drilling was performed on the Mex. Surface sampling returned gold values to 3.6 grams per tonne gold associated with magnetite veins with potassic and argillic alteration.

Cascadero completed 990 metres of NQTW core drilling in 4 holes, which tested a 300 metre by 700 metre area along the north trending Mex Ridge. This was a magnetic high anomaly. Drilling intersected polylithic intrusive breccias above the main monzonite bodies which are cut by sin to post mineral porphyritic monzonite dykes. Weathering and surface oxidation occurs to 150 metres as the all lithologies are highly fractured and broken.

Acid leaching of copper sulphides has deposited coatings of secondary copper as copper wad, possibly neotocite on fracture surfaces deeper in the system.

The Mex geology is similar to the Pine-Tree-Fin area although it is interpreted to be the top of the mineralizing system as varying heterolithic intrusive breccias are intact. The Pine porphyry system is dropped 800 metres in elevation from the Mex along a series of northeast trending normal faults running parallel to the Finlay River Valley.

The Mex prospect will be subject to geophysics and a second phase drill program in 2006.

Assaying was conducted by Eco-Tech of Kamloops, BC. All assays are 30 gram fire assays with 28 element ICP. Field work was under the direction of by Dave Kuran, P. Geo., who also compiled and interpreted the data and who is the qualified person for the Company.


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