TORONTO, CANADA - August 19, 2013 - Mr. George
A. Brown, President and CEO of Cache Exploration Inc. (TSX-V:CAY),
is pleased to announce very positive results from the 2013 sampling
and prospecting program completed on the 100% owned Quinn Eskay
Gold-Silver-Copper Property located north of Stewart, B.C. (see
August 12, 2013 news release with photos). Dr. David Lentz, P.Geo.,
is a Qualified Person as described in National Instrument 43-101
and is responsible for any technical information contained in this
news release.
The
Quinn Eskay Property is located in the world class Skeena mining
district of British Columbia known to host numerous deposits which
include the Doc Property adjoining the Quinn Eskay Property on the
north, the Granduc Property with access road and tunnel to within 5
km of the Quinn Eskay Property, the Scottie Gold towards the east
on the access road to Granduc, the Premier and Silver Coin also on
the road to the Scottie north of Stewart BC, the Eskay Creek
towards the north, and Pretivm's Valley of the Kings
Property approximately 25 km
towards the north-northeast which recently reported 5.8 metres of
drill core containing 2,567 g/t Au (July 23, 2013 Pretivm news
release). Many of these local deposits are characterized by quartz
veins rich in gold, silver, and sulphides that are interpreted to
be similar to those at Quinn Eskay.
Of the
32 rock samples collected, 5 were collected from float and all
remaining samples were collected from bedrock, including 14
composite grabs, 8 chip samples, and 5 samples from test pits. It
is interpreted that all of the samples which were collected are
from or near quartz veins along the same linear trend, which
originate from an east-west trending shear zone of differential
dilatency. This shear zone was observed as semi-continuous for a
distance of approximately 1 kilometre, bound by samples
QE-13-DL-003 at the east and 13-QECG-16A/B at the west. All samples
were submitted to
ALS Chemex in Stewart, BC to be
prepared and analyzed by 30 g fire assay for gold and Code ME-MS41
multi-element aqua regia, inductively coupled plasma mass
spectroscopy (ICP-MS), and inductively coupled plasma atomic
emission spectroscopy (ICP-AES) at their facility in Vancouver,
BC.
Results from the 32 samples are included in a
table in Figure 1.
Samples 13-QECG-01 was taken from the likely
bedrock source of 2012 highlight sample, 12-QECG-07 which contained
30.7 g/t Au, 159.0 g/t Ag, and 4.47% Cu (Oct 15, 2012 News
Release). This source sample was also mineralized, reporting 1.17
g/t Au, 197.0 g/t Ag, 0.06% Cu, and 4.0% Pb. Samples 13-QECG-02,
-04, -05, and -06 were collected from test pits along strike with
13-QECG-01. Sample 13-QECG-04 reported the highest grades from the
test pits with 0.35 g/t Au, 33.0 g/t Ag, 0.10% Cu, and 0.24%
Pb.
Samples 13-QECG-03 and -07 through -10, -17,
and -18 were collected from various outcrops of a mineralized
quartz vein that trends 110 degrees, towards the west of the 2012
highlighted sample. Highlights from these vein grab samples
include:
-8.18 g/t Au, 87.5 g/t Ag, 0.28% Cu, 0.59% Pb,
0.184% Zn (13-QECG-07)
-3.89 g/t Ag, 1.46% Cu, 0.35% Pb
(13-QECG-09)
-32.6 g/t Au, 285.0 g/t Ag, 0.30% Cu, 0.56% Pb,
0.155% Sb (13-QECG-10)
-1.55 g/t Au, 156.0 g/t Ag, 0.52% Pb
(13-QECG-18)
The
samples taken from the furthest west point sampled were from a large
outcrop of mineralized quartz vein which is exposed for
approximately 100 metres along strike. The vein was cut by several
small-displacement dextral faults (up to 20 metres displaced);
nevertheless, up to 40 metres of exposed outcrop was identified.
Grab samples and chip samples were taken from various points along
this vein. Highlights from this area include:
-1.26 g/t Au, 151.0 g/t Ag, 6.78% Pb
(13-QECG-11)
-1.49 g/t Au, 120.0 g/t Ag, 4.16% Pb (chip along
65 cm (13-QECG-12A)
-2.33 g/t Au, 133.0 g/t Ag, 5.59% Pb
(13-QECG-13)
Samples QE-13-DL-001 through -006 were taken
towards the east of the 2012 highlighted sample and were taken to
follow up on an area of interest identified in 2011. Highlights
from these angular float samples include:
-1.4 g/t Au, 125.0 g/t Ag, 0.69% Cu, 6.81% Pb
(QE-13-DL-003)
-5.82 g/t Ag, 0.38% Pb (QE-13-DL-005)
-2.31 g/t Au, 22.7 g/t Ag, 0.21% Pb
(QE-13-DL-006)
-4.16 g/t Au, 23.7 g/t Ag
(QE-13-DL-001)
The
results of the 2013 sampling program at Quinn Eskay are very
positive and highly encouraging. They highlight the potential for
the property to host a polymetallic gold-silver deposit. Whereas
the 2012 sampling program successfully identified significant
mineralization at Quinn Eskay, the 2013 program further advanced
upon the success of the previous year by identifying additional
high-grade gold-silver mineralization and narrowing in on areas of
interest while also expanding the area of known
mineralization.
Given that no drilling has yet been completed on the property and that the
interpreted shear zone extends beneath the snowy surface,
mineralization remains open at the eastern extent and towards the
west the shear zone can be traced for up to another 100 metres
before being displaced by a fault. Given evidence of right-lateral
faulting, displacing the zone further north/northeast, the
continuation of the western extents may lie under the snowy surface
to the north/northeast (see Figure 3).
Given the highly encouraging results of the
2012 and 2013 sampling programs, the company will be planning for
the potential follow-up work program to include additional
prospecting and bedrock mapping of the area, induced polarization
(IP) surveying to identify the locations of sulphide-rich zones,
and identifying potential drill targets in the area. Potential
diamond drilling would be carried out after the successful
identification of IP anomalies.
Cache's property portfolio includes the Welsford Inner Property in
New Brunswick, the Cross Hills IOCG Property and the CMI Cross
Hills Property in Newfoundland, the Quinn Eskay Property in BC, the
White Gold Properties in the Yukon, and the six Nunavut Prospecting
Permits.
For additional information please contact the
company by email at info@cacheexploration.com
Additional information is also
available under the company's profile at www.sedar.com and on the Cache website at www.cacheexploration.com
Neither The TSX
Venture Exchange nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release.
Figure 1
- Location map of the Quinn Eskay
Property within the Stewart-Skeena Mining District
Click Image To View Full Size
Figure 2 - Table of
rock sample results of the
2013 program
---------------------------------------------------------------------
|Sample |Type |Au |Ag |Cu |Pb |Zn |Bi |Sb |
| | |(g/t)|(g/t)|(%) |(%) |(ppm)|(ppm) |(ppm) |
|-------------------------------------------------------------------|
|13-QECG-01 |bedrock |1.17 |197.0|0.06|4.00|326 |0.16 |203.0 |
| |(test pit)| | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-02 |bedrock |0.11 |5.80 |0.01|0.07|265 |0.21 |4.72 |
| |(test pit)| | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-03 |composite |0.02 |0.92 |0.02|0.00|71 |0.17 |1.59 |
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-04 |bedrock |0.35 |33.0 |0.10|0.24|304 |0.07 |198.5 |
| |(test pit)| | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-05 |bedrock |0.03 |1.06 |0.07|0.00|95 |0.50 |1.94 |
| |(test pit)| | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-06 |bedrock |0.38 |36.0 |0.05|0.13|243 |0.20 |119.0 |
| |(test pit)| | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-07 |composite |8.18 |87.5 |0.28|0.59|1,840|0.06 |109.5 |
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-08 |composite |0.04 |0.27 |0.00|0.00|32 |0.94 |0.53 |
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-09 |composite |0.04 |3.89 |1.46|0.35|679 |0.20 |81.30 |
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-10 |composite |32.60|285.0|0.30|0.56|65 |237.0 |1,550.0|
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-11 |composite |1.26 |151.0|0.01|6.78|12 |251.0 |17.05 |
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-12A |Chip |1.49 |120.0|0.01|4.16|6 |232.0 |9.08 |
| |sample | | | | | | | |
| |along 65 | | | | | | | |
| |cm | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-12B |Chip |0.15 |8.74 |0.01|0.06|<2 |13.65 |2.27 |
| |sample | | | | | | | |
| |along 180 | | | | | | | |
| |cm | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-12C |Chip |0.06 |8.08 |0.00|0.03|5 |86.0 |0.53 |
| |sample | | | | | | | |
| |along 95 | | | | | | | |
| |cm | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-13 |composite |2.33 |133.0|0.07|5.59|14 |201.0 |16.95 |
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-14 |composite |0.35 |83.7 |0.01|0.26|3 |1,085.0|10.05 |
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-15A |Chip |0.07 |28.8 |0.00|0.07|3 |79.1 |0.95 |
| |sample | | | | | | | |
| |along 140 | | | | | | | |
| |cm | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-15B |Chip |0.02 |6.49 |0.01|0.04|26 |15.10 |0.42 |
| |sample | | | | | | | |
| |along 75 | | | | | | | |
| |cm | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-15C |Chip |0.08 |29.2 |0.01|0.14|4 |597.0 |2.36 |
| |sample | | | | | | | |
| |along 55 | | | | | | | |
| |cm | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-16A |Chip |0.08 |29.8 |0.00|0.13|16 |87.7 |1.52 |
| |sample | | | | | | | |
| |along 115 | | | | | | | |
| |cm | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-16B |Chip |0.05 |7.98 |0.00|0.06|10 |30.7 |1.02 |
| |sample | | | | | | | |
| |along 140 | | | | | | | |
| |cm | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-17 |composite |0.24 |0.94 |0.00|0.00|4 |5.03 |0.37 |
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|13-QECG-18 |composite |1.55 |156.0|0.03|0.52|76 |1,325.0|7.20 |
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|13-QEGB-01 |composite |0.02 |0.46 |0.04|0.00|74 |0.98 |0.34 |
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|13-QEGB-02 |composite |0.03 |0.86 |0.01|0.00|59 |4.15 |0.52 |
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|13-QEGB-03 |composite |0.01 |0.20 |0.00|0.00|50 |1.52 |0.63 |
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|QE-13-DL-001|composite |4.16 |23.7 |0.02|0.03|52 |4.18 |124.0 |
| |grab, | | | | | | | |
| |float | | | | | | | |
|-------------------------------------------------------------------|
|QE-13-DL-002|composite |0.19 |6.26 |0.06|0.04|159 |3.82 |2.29 |
| |grab, | | | | | | | |
| |bedrock | | | | | | | |
|-------------------------------------------------------------------|
|QE-13-DL-003|composite |1.40 |125.0|0.69|6.81|43 |1.63 |44.2 |
| |grabs, | | | | | | | |
| |float | | | | | | | |
|-------------------------------------------------------------------|
|QE-13-DL-004|composite |0.02 |0.40 |0.00|0.01|7 |0.33 |0.45 |
| |grabs, | | | | | | | |
| |float | | | | | | | |
|-------------------------------------------------------------------|
|QE-13-DL-005|composite |0.03 |5.82 |0.03|0.38|781 |1.40 |10.75 |
| |grab, | | | | | | | |
| |float | | | | | | | |
|-------------------------------------------------------------------|
|QE-13-DL-006|composite |2.31 |22.7 |0.03|0.21|68 |3.92 |4.57 |
| |grabs, | | | | | | | |
| |float | | | | | | | |
---------------------------------------------------------------------
Highlighted in BOLD :
Au over one third g/t, Ag over 20 g/t, Cu over one quarter %, Pb
over one half %, Zn over 1,000 ppm, Bi over 200 ppm, and Sb over
100 ppm
FIGURE 3 - Map showing
locations and highlights of rock samples from the 2013
program
Click Image To View Full Size
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