Cascadero Copper Corporation
TSX VENTURE : CCD

Cascadero Copper Corporation

February 27, 2012 10:30 ET

Cascadero Reports Results of 2011 Exploration Drilling MEX Cu-Au Porphyry Prospect Toodoggone Project North Central British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 27, 2012) - Cascadero (TSX VENTURE:CCD) is pleased to report the results of Gold Fields Toodoggone Exploration Corporation's (Gold Fields) 2011 exploration program at Cascadero's Toodoggone Project in north central British Columbia.

In 2011, the program focused on the MEX Cu-Au porphyry prospect and consisted of seven (7) core holes, totaling 2,447.9 metres, targeting geophysical and geochemical anomalies. The area explored by drilling is approximately 500 metres northeast to southwest by 900 metres northwest to southeast.

TABLE ONE 2011 MEX DRILL HOLE ASSAYS
Hole From To Int AuEq Cu Au
ID (m) (m) (m) g/t (%) (g/t)
MEX 11-01 12.2 32.0 19.8 0.49 0.026 0.447
inc 23.3 29.0 5.7 0.72 0.036 0.563
and 140.9 227.0 86.1 0.60 0.242 0.186
inc 184.0 188.0 4.0 1.78 0.764 0.470
and 260.0 370.3 110.3 0.60 0.098 0.303
inc 292.0 298.0 6.0 1.39 0.123 1.181
MEX 11-02 9.1 36.0 26.9 0.53 0.031 0.474
and 103.3 169.0 65.7 0.43 0.076 0.303
and 206.0 233.0 27.0 0.40 0.083 0.261
and 237.0 249.0 12.0 0.34 .057 0.240
MEX 11-03 No Significant Assays
MEX 11-04 68.0 107.0 39.0 0.36 0.127 0.144
inc 85.0 88.0 3.0 0.51 0.122 0.302
and 194.0 202.0 8.0 0.34 0.125 0.128
and 230.0 250.0 20.0 0.47 0.106 0.284
and 252.0 258.0 6.0 0.37 0.107 0.192
and 272.0 276.0 4.0 0.32 0.098 0.153
MEX 11-05 20.0 23.0 3.0 0.36 0.058 0.264
MEX 11-06 85.0 111.0 26.0 0.36 0.132 0.139
and 137.0 153.0 16.0 0.39 0.107 0.210
and 159.0 163.0 4.0 0.41 0.150 0.156
and 189.5 214.0 24.5 0.35 0.111 0.159
and 221.0 235.0 14.0 0.36 0.122 0.148
and 244.0 248.0 4.0 0.37 0.115 0.176
MEX 11-07 6.1 9.0 2.9 0.36 0.015 0.337
and 46.0 52.9 6.9 0.36 0.102 0.190
and 268.9 293.0 24.2 0.43 0.060 0.322
inc 290.0 293.0 3.0 0.93 0.056 0.314

ASSAY COMPOSITES: Composites in TABLE ONE are calculated at minimum gold equivalent (AuEq) cut-off grade of 0.30 g/t Au and copper equivalent (CuEq) is calculated at a minimum cut-off of 0.20% Cu. Au and Cu equivalents are calculated using US$3/lb copper and US$1,200 per ounce gold. AuEq was calculated using: (Cu% x 2201 x US$3/lb + Au ppm/31.1 x US$1,200/US$1,200 x 31.1. No gold or copper metallurgical data exists and metal recovery is assumed to be 100%. CuEq data are not presented in TABLE ONE.

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 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 expenditure. Gold Fields' exploration expense to date is approximately C$4 million.

Due to an indigenous complaint in 2010, the agreement was subject to force majeure and a full exploration season was lost. The agreement was mutually extended for one year and 2012 is thus the third year of Gold Fields' option. The Gold Fields holds a three-year British Columbia N.O.W. permit.

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 the Aurico Kemess mine property formerly owned by Northgate Minerals. The area has excellent infrastructure including a 52,000 tonne floatation-concentration mill that is on care and maintenance.

There is a significant magnetic anomaly on MEX Ridge, which is west of the current drill holes. The area has limited geochemical sampling and no drill holes. Gold Fields provided notice to the Company that exploration will continue in 2012.

Technical data in this news release are compiled by Dave Kuran, P.Geo. of Kuran Exploration Ltd. Mr Kuran is familiar with the MEX by being on-site project geologist Cascadero's Copper Toodoggone Project in 2003 and 2004. Mr. Kuran reviewed all assay data, QA-QC and core data provided to Cascadero by Gold Fields Ltd. Mr. Kuran is satisfied as to data completeness and accuracy. Mr Kuran is the Qualified Person under NI 43-101 for Cascadero on the MEX Cu-Au porphyry.

ABOUT CASCADERO COPPER

Cascadero Copper is an integrated prospecting and mineral exploration business with offices in North Vancouver, BC, Canada, Sudbury, Ontario, Canada and Salta City in the province of Salta, Republic of Argentina. The Company generates, acquires and explores mineral properties and it active in the three jurisdictions.

In north central British Columbia, the Company has a 100% interest in a 31,000 hectare property in the Toodoggone region, which is prospective for copper gold porphyry systems. This property is subject to a C$20 million Joint Venture with Gold Fields.

In Ontario, the Company holds or has the right to acquire a 100% in 17 properties in the Sudbury, Swayze and Timmins camps, which are volcanic and sediment hosted copper gold prospects.

In north western Argentina, the Company holds a 50% interest in a 46 property portfolio, which consists mainly of bulk mineable copper-moly-gold porphyries and bulk mineable sediment hosted silver-gold plus base and rare metals.

In 2009, the Company discovered Taron, a large bulk mineable sediment hosted epithermal rare metal deposit in Argentina. In 2011, Cascadero discovered Las Burras, a new Argentine Cu-Mo- Au porphyry.

Cascadero's commodity focus is gold, silver, moly, copper and base and rare metal hosted in large-scale bulk mineable mineral systems.

In 2012 to 2013, Cascadero intends to advance by drilling three Argentine Cu-Mo-Au porphyry systems and continue development work in the El Oculto District, which hosts high-grade bulk mineable silver-rich systems. Exploration is also planned for Taron, an exciting large-scale sediment hosted rare metal discovery.

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
    604-999-0391
    Bill@Cascadero.com

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