Cascadero Copper Corporation
TSX VENTURE : CCD

Cascadero Copper Corporation

August 03, 2011 09:30 ET

Cascadero Copper Corporation: Core Drilling Program Completed on MEX Copper Gold Porphyry Prospect

Toodoggone Region British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 3, 2011) - Cascadero Copper Corporation (TSX VENTURE:CCD) -

Gold Fields Toodoggone Exploration Corporation ("Gold Fields"), a member of the Gold Fields Limited group of companies has completed its drill program on Cascadero Copper Corporation's ("Cascadero") 100% owned MEX copper gold porphyry prospect. The property is located in the Toodoggone region in north-central British Columbia, which is about 550 km north of Prince George. The MEX prospect is approximately 16 km northeast of Northgate's Kemess North copper-gold deposit.

The program consisted of seven drill holes for an aggregate of 2,448 metres of NQ core. The drill holes encountered a mineralized quartz monzonite unit, which includes magnetite with lesser amounts of pyrite and chalcopyrite. Alteration also includes an interpreted sericite-chlorite overprint. The drill program partially tested a zone that is approximately 500 metres northeast-southwest by 900 metres northwest-southeast.

Gold Fields prepared and shipped 1,025 samples for assay to ALS Minerals in North Vancouver, BC. Results are expected in five weeks time.

On March 6th 2009, Cascadero signed an Option and Joint Venture Exploration Agreement (the "Option Agreement") with Gold Fields. Pursuant to the Option Agreement Gold Fields can earn a 51% interest in Cascadero's Toodoggone Project a by spending at least C$5 million over an initial three year option period. Gold Fields can earn a further 24% interest by completing a feasibility study or sole funding a further C$15 million in expenditure. Gold Fields has incurred about C$4 million in expenditure to date.

ABOUT CASCADERO COPPER

Cascadero Copper 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 has recently commenced in British Columbia.

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 Corp.
    Bill McWilliam
    Chief Executive Officer
    604-999-0391
    Bill@Cascadero.com

    AJF Consultants
    Alan Feldman
    604-948-9663 or Cell: 604-377-2942

    AJF Consultants
    Janice Feldman
    604-948-9663 or Cell: 604-377-2942