Cascadia International Resources Inc.
TSX VENTURE : CJ

Cascadia International Resources Inc.

February 29, 2008 15:24 ET

Cascadia Announces Final Assay Results From Its Goat Mountain Molybdenum- Tungsten Project

- 0.405% MoS2 over 4m in GM-07-06 is highest assay to date - 0.083% MoS2 over 11m in GM-07-02

CALGARY, ALBERTA--(Marketwire - Feb. 29, 2008) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA

Cascadia International Resources Inc. ("Cascadia" or "the Company") (TSX VENTURE:CJ) has received assay results from the final four diamond drill holes completed on the Goat Mountain Molybdenum-Tungsten Property in Southern British Columbia. Anomalous Molybdenum (Mo) and Tungsten (W) were discovered in five of the six holes completed with grades of 0.405% MoS2 over 4 m and 0.083% MoS2 over 11 m intersected in drill holes GM-07-06 and GM-07-02 respectively.



----------------------------------------------------------------------------
From To Interval WO3 MoS2
(m) (m) (m) (%) (%)
----------------------------------------------------------------------------
Hole GM-07-01
----------------------------------------------------------------------------
5.18 19 13.82 0.085 0.001
----------------------------------------------------------------------------
21 40 19 0.098 0.008
----------------------------------------------------------------------------
less than
41 48 7 0.005 0.059
----------------------------------------------------------------------------
62.8 66 3.2 0.106 0.125
----------------------------------------------------------------------------
103 109 7 0.043 0.032
----------------------------------------------------------------------------
Hole GM-07-02
----------------------------------------------------------------------------
26 27 1 0.014 0.075
----------------------------------------------------------------------------
32 33 1 0.031 0.06
----------------------------------------------------------------------------
58 59 1 0.037 0.078
----------------------------------------------------------------------------
63 73 11 0.03 0.083
----------------------------------------------------------------------------
80 85 6 0.035 0.062
----------------------------------------------------------------------------
Hole GM-07-04
----------------------------------------------------------------------------
51 52 1 0.015 0.077
----------------------------------------------------------------------------
less than
61 64 4 0.005 0.088
----------------------------------------------------------------------------
less than
67 68 1 0.005 0.062
----------------------------------------------------------------------------
Hole GM-07-05
----------------------------------------------------------------------------
76 77 1 0.034 0.242
----------------------------------------------------------------------------
190 191 1 0.011 0.115
----------------------------------------------------------------------------
Hole GM-07-06
----------------------------------------------------------------------------
less than
36 37 1 0.005 0.05
----------------------------------------------------------------------------
less than
39 43 5 0.005 0.066
----------------------------------------------------------------------------
53 62 10 0.12 0.008
----------------------------------------------------------------------------
62 68 7 0.058 0.05
----------------------------------------------------------------------------
less than
99 113 4 0.005 0.405
----------------------------------------------------------------------------
less than
131 133 3 0.005 0.049
----------------------------------------------------------------------------


Diamond drilling outlined multiple zones of greater than 0.05% MoS2 with anomalous WO3 over intervals ranging from 1 to 7 m throughout the skarn. Several higher grade zones were also outlined within the skarn with grades of up to 0.125% MoS2 and 0.106% WO3 over 3.2 m and 0.242% MoS2 and 0.034% WO3 over 1 m in drill holes GM-07-01 and GM-07-05 respectively.

The higher grade intersection of 0.405% MoS2 over 4m in drill hole GM-07-06 occurs at a depth of 99 m within intensely chlorite+/-epidote altered tuffs and siltstones. The mineralization occurs as narrow molybdenite veinlets along fractures and shears and within an 8 cm wide brecciated quartz-feldspar vein cross-cutting these altered tuffs and siltstones. The 11 m of 0.083% MoS2 intersected at a depth of 63 m in drill hole GM-07-02 also occurs as fine disseminated molybdenite within locally silicified intensely chlorite+epidote+/-garnet altered tuffs and siltstones.

This style of mineralization is similar to mineralization reported by Roca Mines in their 43-101 Report for the Max Mo Deposit, a 43.0 mT deposit (at 0.21% MoS2) located approximately 150 km to the north of the Goat Mountain Property. The report indicates that the main Mo mineralization occurs as broadly dispersed disseminations and fracture filling veinlets within a stockwork zone of intense quartz-feldspar altered schists. These similarities seem to suggest that a Mo rich stockwork and porphyry system may be present at depth in this part of the Goat Mountain property.

Mr. Osmond, P.Geo., President for Cascadia states, "We have received the results from the drill program at Goat Mountain, and have begun to assess the data to plan the next drill program. Further exploration will target this potentially deeper Mo stockwork as the assay results from hole GM-07-06 continue to suggest that a porphyry system is present to the north."

Cascadia also plans to complete a full evaluation of the 10,000 acre property where several Silver (Ag), Lead (Pb), Zinc (Zn) occurrences have been discovered in isolated outcrops over a strike length of more than 1.5 kms along the southern part of the property. These showings occur as thin semi-massive to massive galena and sphalerite bands intercalated with meta-limestones and schists with grades of up to 453 g/t Ag, 12.70% Pb, and 2.58% Zn reported from surface grab samples from one of these occurrences.

Molybdenum has been found in various minerals and only molybdenite (MoS2) is suitable for the industrial production of marketable molybdenum products. The molybdenum content of viable ore bodies ranges between 0.01 and 0.25% Mo, often associated with other metal sulphide minerals. With current market prices for molybdenum at approximately $33.10 CAD/lb and tungsten pricing around $12.50 CAD/lb, the implied metal value for this type of deposit demonstrates its vast potential.

All core samples were sent for geochemical analysis at the ACME Analytical Laboratory in Vancouver, British Columbia for sample preparation and analysis. The samples were analyzed for Au with the 3B method using fire assay fusion by ICP-ES and analyzed for Mo and W with the 7KP method using a phosphoric acid leach and ICP-ES.

The project is being supervised by Mr. Richard Osmond, who is the qualified person and responsible for quality control of the assaying and reporting.

Forward Looking Statements

This press release may contain forward-looking statements based on management's current projections, beliefs and opinions at the date of this press release. Actual results could differ materially from those anticipated in these statements. Management undertakes no responsibility to update forward-looking statements if circumstances or management's projections, beliefs or opinions change.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

Contact Information

  • Cascadia International Resources Inc.
    James G. Evaskevich
    CEO
    (403) 262-9177