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Cache Issues An Update On The Expanded Trenching Program At The Welsford Rare Earth Element Properties
Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V: CAY), is very pleased to provide an update on the expanded trenching program on several highly encouraging targets on the Welsford REE Properties in New Brunswick (see Figure 1). 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.
A 40 metre by 25 metre trench has been completed to expose the bedrock at one of the target sites (see Figure 2). This target site has previously identified radioactivity up to 46,000 Counts Per Second (CPS), measured by gamma ray spectrometry and has yielded a 25 centimetre chip sample containing over 5% combined weight of Yttrium (Y), Zirconium (Zr), Niobium (Nb), and Rare Earth Elements (REE) (News Release May 28, 2012). As a result of the trench expansion and the increased exposure, the area of probable REE-Zr-Nb-Y mineralization is thought to occur throughout the trench area and appears to be open towards the northeast and the southwest. Channel sampling is being completed over anomalous areas (see Figure 3). A total of 38 radiometric anomalies were located within the trench area (see Figure 4), which range between 1,000 CPS and 46,000 CPS.
The Y-Nb-REE rich dyke identified in earlier sampling ranges in width from less than 5 centimetres to up to 30 centimetres over a 5 metre length. It appears to be discontinuous within the extensive fracture zone found in the host Welsford granite. Additional ground prospecting and spectrometry over the area immediately south of the trench has also revealed an area approximately 10 metres by 15 metres that exhibits consistently elevated radiometric signatures along a well-defined trend. However, the bedrock still remains covered by soil/till.
Due to these encouraging results, including mineralization apparently open in two directions from the trench, the company has further expanded the ongoing trenching program to expose additional target areas. The additional areas will include the adjoining area towards the south of the trench. The distribution of radioactive anomalies in the trench and a prospective well-defined trend in the adjacent area further supports this showing as becoming a viable drill target for the company.
The purpose of the expanded trenching program is to fully expose the mineralized area that has radiometrically measured up to 46,000 Counts Per Second (CPS) and has reported assay results of over 5% combined weight of Yttrium (Y), Zirconium (Zr), Niobium (Nb), and Rare Earth Elements (REE) across a 25 cm wide dyke (May 28, 2012 News Release). This area has reported the highest Heavy Rare Earth Element (HREE) soil anomalies in the region. This mineralized area exhibits very strong potential to locate a dyke-sill swarm, and/or a mineralized cupola, which has the potential to be the source of the Y-Nb-REE-enrichment in the area.
Cache has in place agreements with all landowners affected by the expanded trenching program or required for access and right of way. Cache also filed for and received the approval to proceed from the New Brunswick Department of Natural Resources.
The primary aim of the expanded trenching program is to fully expose the area of the potential dyke(s)/sill/cupola in order to thoroughly map and rock sample the area. The results of the trenching program will be utilized to assess priority diamond drill targets and to formulate an optimal drill plan. The company will also continue prospecting and sampling other areas on the Welsford REE properties, specifically areas that have shown REE and/or radiometric soil anomalies from prior exploration efforts.
Extensive prospecting and soil sampling programs completed since 2010 have identified several zones of radiometric activity and Y-Nb-REE enrichment (see November 1, 2011 news release) including this priority trenching target. Based upon the highly encouraging results to date, this expanded trenching program is Cache’s first priority exploration program. Cache looks forward to releasing the results of this expanded trenching program and the subsequent drill plan as early as possible this summer.
Dr. David Lentz, P.Geo., Qualified Person, and Chairman of the Technical Committee emphasises: “With my extensive knowledge of REE deposits worldwide, this area continues to present Cache with excellent potential for a new discovery. In addition to the growing potential being developed by the expanded trenching program, the excellent logistics and infrastructure that exist near the Welsford REE Properties including power lines crossing the property and proximity to paved highways and to the port of Saint John makes the prospects for the Welsford REE Properties extremely exciting.”
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 adjacent to Cache’s Cross Hills Properties, the 3,360 acre Stewart South Property in BC, the 4,349 acre Quinn Eskay Property in BC, the 719 acre GSM Property in BC, and the 4,680 acre 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.
Additional information is available at www.sedar.com and at www.cacheexploration.com or by contacting Cache at firstname.lastname@example.org or by phone at (416) 867-1101.
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