Pinnacle Activity Ticker
Cache Commences Diamond Drilling At The Welsford REE Properties
Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V: CAY), is pleased to announce that diamond drilling has commenced at the Welsford REE Properties in New Brunswick. Dr. David Lentz, P.Geo., is a Qualified Person as described in National Instrument 43-101 and is responsible for the technical information contained in this news release.
Diamond drilling has commenced on the Welsford Inner Claims (see Figure 1). The Company has contracted Vic Progressive Diamond Drilling Inc. of Sussex, New Brunswick to complete the drilling. The hole currently being drilled is planned for a length of 350 metres at a 45 degree angle to test the inferred convergence of the Main Zone Dykes and the Road Zone Dykes (see Figure 2). These Yttrium, Niobium, and Heavy Rare Earth Element bearing dykes that have been historically well-defined both at surface and in drill core. This initial drill hole will also test for the northern extents of these converging zones. Additional drilling will be planned pending successful results from the current drill hole.
The Company’s technical team believes that these dykes originate from a source at depth, such as a mineralized sill or cupola. Because these two dykes appear to converge, the Company feels confident that this hole exhibits strong potential to intersect the source of mineralization. The continuation of the two zones beyond the point of convergence and the potential for locating the source is supported by Terbium (Tb), Ytterbium (Yb), and Lutetium (Lu) soil anomalies.
Cache has agreements in place with local landowners and has received approval from the New Brunswick Department of Natural Resources. Drilling at the Welsford Inner Claims is expected to be completed in September. All samples will be submitted to Activation Laboratories (Actlabs) in Fredericton, NB for Code 8 – REE Assay Package (ICP and ICP/MS) to be analyzed at their facility in Ancaster, Ontario.
Cache intends to develop a larger diamond drill plan for the remaining Welsford REE Properties after the extended trenching programs have been completed and the results have been analysed.
Cache Exploration has a focus on exploring for REE deposits. Cache is exploring the Welsford REE Properties in New Brunswick, the Cross Hills REE Property and Cross Hills Northern IOCG Property in Newfoundland, and the Nunavut REE Properties. The Company owns a 100% interest in Cache Minerals Inc. (“CMI”) through which it now controls the CMI Cross Hill REE Properties, the Stewart South Property in BC, the Quinn Eskay Property in BC, the GSM Property in BC, and the White Gold Properties in the Yukon. All of the Cache REE properties are considered to have excellent potential for rare earth element mineralization. The BC and Yukon properties provide a diversity of exposure to exploration potential for copper, silver, and gold.
Neither The TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.