Cascadero Copper Corporation
TSX VENTURE : CCD

Cascadero Copper Corporation

April 14, 2011 10:07 ET

Cascadero Copper Corporation: Assay Highlight-32.4 g/t Gold Sampled in Sudbury, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 14, 2011) - Cascadero Copper (TSX VENTURE:CCD) has received significant gold assays from a high-sulphidation pyrite-silica Gossan on the Marble Mountain gold prospect in Parkin Township, Ontario. The property is about 55 kms north of Sudbury with road access. Gold occurs in two lithologies, felsic and quartzite. A total of 39 samples were taken, 15 from the quartzite and 24 from the felsic lithology.

The Felsic Lithology

TABLE ONE
MARBLE MOUNTAIN
GOLD ASSAYS - PYRITE HILL
24 SAMPLES
TYPE OFGOLDDOMINANT
ZONESAMPLEg/tALTERATIONLITHOLOGY
Pyrite Gossanchannel32.40Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel17.05Fe-Oxide/sulphidesFelsic Unit? Dyke?
Pyrite Gossanchannel13.60Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossangrab12.65Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel8.58Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel6.80Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel5.60Fe-Oxide/sulphidesFelsic Unit? Dyke?
Pyrite Gossanchannel2.80Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel1.90Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel1.74Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel1.66Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel1.44Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel1.18Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel0.53Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel0.52Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel0.29Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel0.26Silicification-CaCo3Felsic Unit? Dyke?
Pyrite GossanAQ core0.12Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel0.034Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel0.021Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel0.012Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel0.010Silicification-CaCo3Felsic Unit? Dyke?
Pyrite Gossanchannel0.010Fe-Oxide/sulphidesFelsic Unit? Dyke?
Pyrite Gossanchannel0.010Silicification-CaCo3Felsic Unit? Dyke?

The silicified units with calcium carbonate and pyrite alteration yielded the highest grade gold assays. The 24 samples from the felsic lithology average 4.05 g/t Au and 13 of the 24 samples were greater than 1.0 g/t Au and they averaged 8.26 g/t Au.

Importantly, petrographic evidence suggests the strong possibility of an underlying gold-rich felsic intrusive and or a (mineralizing) hydrothermal event intruding under and into the limestone and quartzite rocks at Marble Mountain. In addition, the Company has concluded, based on research into the Marble Mountain assessment files at the Ontario Mines Ministry, that the area is underexplored and the potential for further discoveries is favourable.

The Quartzite Lithology

TABLE TWO
Marble Mountain
Gold Assays
Pyrite Hill
4 of 15 Assays reported
TYPE OFGOLDDOMINANT
ZONESAMPLEg/tALTERATIONLITHOLOGY
Pyrite Gossangrab3.81Silicification-CaCo3Quartzite
Pyrite GossanAQ core1.71Silicification-CaCo3Quartzite
Pyrite Gossanchannel cut1.45Silicification-CaCo3Quartzite
Pyrite Gossanchannel cut0.22SilicificationQuartzite

Only 4 of the 15 assays from the Quartzite lithology contained Au values above 100 ppb. The highest gold values were associated with a similar alteration assemblage, silicification and CaCo3, that produced the best gold assays in the felsic lithology. The extent of the gold bearing pyrite mineralization is unknown at this time. All averages are arithmetic.

Both units are within a larger surrounding claim package that is the focus of an IP/Res/Mag survey that is expected to get underway in a few weeks. This will be followed by mapping, sampling and geochemistry.

Cascadero and the vendor have signed an Option Agreement that enables Cascadero to acquire a 100% interest in the Marble Mountain prospect (the "Property"), which consists of 66 contiguous units in Parkin Township. The agreement provides for cash, share issuances and a work commitment over a four year term. The Property is subject to a net smelter return royalty (the "NSR"), 50% of which can be purchased for cash.

The Agreement also contains an advanced royalty clause (the "AR"), which is payable yearly if Cascadero exercises its right to acquire a 100% interest in the Property. The Agreement is also subject to a Finder Fee payable in cash and/or shares of Cascadero Copper.

The Company is planning an initial IP/Res/Mag ground based geophysical survey in the area of the Pyrite Gossan in April. Fieldwork, including prospecting, detailed mapping and sampling, is planned for the summer months over the entire claim area.

The Cascadero – Marble Mountain Option Agreement is subject to regulatory approval. Assaying was done by ALS Minerals, North Vancouver, BC.

The petrographic study was completed by Dr. R.K Springer, P.Geo, and that report is available on request. Fieldwork and sampling was conducted by John Camier, B.Sc., M.Sc., P.Geo, who is the Qualified Person for Cascadero's Ontario exploration program and he has reviewed and approved this news release.

ABOUT CASCADERO COPPER

Cascadero is an integrated prospecting and mineral exploration business. The Company has offices in North Vancouver, BC, Sudbury, Ontario and Salta City in the province of Salta, Argentina. The Company generates, acquires and explores mineral properties in these three areas.

The Company has several copper-gold porphyry prospects in the Toodoggone region of British Columbia, volcanic and intrusive hosted gold properties in the Sudbury, Swayze and Timmins camps of Ontario and holds a 50% interest in a 46 property portfolio in north western Argentina. Exploration is currently active in Ontario and Argentina and exploration will commence in June, 2011 in BC.

Cascadero's commodity focus is gold, silver and copper hosted in large-scale mineral systems. In 2011 and 2012, Cascadero plans to drill test a total of four copper-gold porphyry systems. In addition, Salta intends to drill four large-scale sediment hosted gold and silver-rich polymetalic systems and two sediment hosted gold-silver showings.

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cascadero Copper Corporation
    Bill McWilliam
    Chief Executive Officer
    604-924-5504 or 604-999-0391
    Bill@Cascadero.com