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Cache Intersects Multiple Zones of Gold Mineralization from Drilling Hole 2 at its Kiyuk Lake Gold Project, Nunavut

12.10.2017 | 16:10 Uhr | The Newswire
Vancouver, October 12, 2017 - Cache Exploration Inc. (the "Company", or "Cache"), (TSX-V:CAY) is pleased to announce that complete assay results have been received for the first two holes of its summer drill program at its Kiyuk Lake project in Nunavut. Complete results have now been received from the till sampling program.

Significant Release Highlights:

  • - KI17-002 returned 10m at 2.6 g/t gold from 32m in the Rusty Zone

    - 38m at 1.12 g/t gold from 58m and

    - 4m at 4.2 g/t gold from 150m

Previously Released Results from KI17-001:

  • - 26.4 g/t gold over 8m from the Rusty Zone

    - 6m at 5.7 g/t gold from 132m

    - New style of alteration and mineralization intersected associated with high grade gold mineralization

Rusty Zone

KI17-002 was designed to target the potential eastward extension of gold mineralization from the known Rusty gold mineralization and is a step out hole of the discovery hole RU11-001 targeting the eastward extension of gold mineralization intersected in RU11-001 which intersected 37.8m of 4.18 g/t Gold (previously reported). Drill hole KI17-002 was drilled to a depth of 209.1m. Sections containing gold mineralization were coincident with strongly albite altered and brecciated sandstone with carbonate-actinolite infill from 32 meters to 154 meters.

Complete assays results from KI17-001 to the end of the hole were also received with no additional gold mineralization.

Assay Results Pending

Assay results from the remainder of drill program are expected in the coming weeks. A total of 1,172 metres were drilled over five holes during the 2017 summer drill program.

Drill Results Summary

New assay results from drilling below:

Hole ID

From (m)

To (m)

Length (m)

Gold (g/t)

Zone

KI17-002

32

42

10

2.60

Rusty

Incl.

32

36

4

9.90

KI17-002

58

96

38

1.16

Rusty

Incl.

68

76

8

3.98

KI17-002

150

154

4

1.20

Rusty

Incl.

152

154

2

4.17

Till Sampling Results

Complete till sampling results have now been received. Sampling grids extending Rusty zone till sampling have identified several gold-in-till anomalies up to 390.2ppb gold. Several samples were above 50ppb gold and are considered highly anomalous. The dispersion of these anomalies may indicate additional sources of gold mineralization to the west and south of the Rusty zone. Previously reported till sampling results identified a new area named the Nansen target of potential gold mineralization north of Kiyuk Lake with values up to 768ppb gold.

To view new plan map and detailed section of Rusty Zone and till sampling results, please click: http://cacheexploration.com/cay-news-release-10-11-17

QA/QC and Core Sampling Protocols

One to two kilogram till samples collected in the field were sieved to -230 mesh at the Bureau Veritas Minerals laboratory in Vancouver, British Columbia before being digested using a dilute aqua regia digestion of a 30g subsample (code AQ252) and analyzed by ICP-MS for a suite of 37 elements, including gold. Data accuracy and precision is monitored with certified reference materials submitted with the samples and field duplicates, as well as through monitoring of laboratory internal standards and pulp duplicates.

Drill core samples are bagged and sealed and submitted to SGS in Red Lake, Ontario for sample preparation. Sample preparation involves crushing 2m lengths of split drill core to a nominal 75% passing 2mm, followed by pulverization of a 250-g split to a nominal 85% passing 75 microns. Gold analysis is completed in the SGS Red Lake lab with a 50g fire assay and AAS finish (code GE-FAA515). Samples returning >10g/t Au are re-assayed with a gravimetric finish (code GO-FAG505). Control samples (certified reference materials, coarse blanks and 1/4 core duplicates) were inserted on a regular basis. Laboratory internal standards, coarse crush duplicates and pulp duplicates are also monitored. Results are assessed for accuracy, precision and contamination on an ongoing basis.

Qualified Persons

Chris Pennimpede, P. Geo., Vice President, Exploration and Director for the Company is a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical mining information provided in this release.

For more information about Cache Exploration, please visit: http://www.cacheexploration.com/

On behalf of the Board of Directors

Cache Exploration Inc.

"Jack Bal"

Jack Bal

Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:

Jack Bal

604-306-5285

jackbal@cacheexploration.com

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Kiyuk Lake Property: statements pertaining to the ability of Cache Exploration Inc. ("CAY"); the potential to develop resources and then further develop reserves; the anticipated economic potential of the property; the availability of capital and finance for CAY to execute its strategy going forward. Forward-looking statements are based on estimates and assumptions made by CAY in light of its experience and perception of current and expected future developments, as well as other factors that CAY believes are appropriate in the circumstances. Many factors could cgoldse CAY's results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release

Copyright (c) 2017 TheNewswire - All rights reserved.

 
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