(TheNewswire)
September 6, 2017 / TheNewswire / Vancouver, British Columbia - Cache Exploration Inc. (the "Company", or "Cache"), (TSX-V:CAY) is pleased to announce that partial assay results have been received for KI17-001 the first hole of the program of its ongoing summer drill program at its Kiyuk Lake Gold project in Nunavut.
Significant Release Highlights from Hole KI17-001 from the Rusty Zone:
- 26.4 g/t Au over 8m from 108m - 116m
- 5.7 g/t Au over 6m from 132m - 138m
- New style of alteration and mineralization intersected associated with high grade gold mineralization
KI17-001 is a step out hole from KI13-011 targeting the southward extension of gold mineralization intersected in KI13-011 which ended in 24.0 m at 2.5 g/t Au (previously reported). Drill hole KI17-001 was drilled to a depth of 287.75 m and visible gold was observed in a section of strongly altered and brecciated sandstone from 110 meters to 112 meters. The zone was not expected and was above target mineralization. This represents a new, high grade gold interval within the Rusty zone. Abundant visible gold occurs with vuggy quartz veining, sooty pyrite and magnetite infill which is distinct from the dominant actinolite-carbonate veining and breccia at Rusty.
Assay Results Pending
Assay results from the remainder of KI17-001 are expected in the next week. A total of 300 samples from the first three drill holes were shipped to SGS Canada Inc. in Red Lake for gold analysis. In addition, 150 till samples from grid sampling north of Kiyuk Lake have been shipped for analysis to Bureau Veritas in Vancouver.
Drill Results Summary
New assay results from drilling below:
------------------------------------------------------ |Hole ID |From (m)|To (m)|Length (m)|Gold (g/t)|Zone | |----------------------------------------------------| |KI17-001|108|116|8|26.48|Rusty| |----------------------------------------------------| |Incl.|110|112|2|92.76|| |----------------------------------------------------| |KI17-001|132|138|6|5.70|Rusty| ------------------------------------------------------Drilling has now been completed at the Rusty Zone and is now focusing on the extending the known gold mineralization at Gold Point. Drill hole KI17-005, currently being drilled, is targeting a 400 m long zone of magnetite destruction at East Gold Point. This target is located 700 m east of the Gold Point zone and has not yet been drill tested.
To view a detailed section showing the recent KI17-001 drill results and a plan map of Rusty Zone, please click: http://www.cacheexploration.com/wp-content/uploads/2017/08/2017-08-02-nrm-rusty-cay-uy95qm.pdf
Gold Point
Significant step outs are planned at Gold Point where prospecting and ground magnetics have defined two new zones of possible extensions of the known Gold Point mineralization. These extensional zones - South Gold Point and East Gold Point respectively - are defined in ground magnetics as zones of magnetite destruction coincident with east-west structures, which are identical to those found at the Gold Point zone.
Previous drilling at the Gold Point zone returned:
- 63.6 m at 2.84 g/t Au from 148 m
- 12 m at 2.4 g/t Au from 120 m
- 12 m at 3.9 g/t Au from 163.5 m
To view plan map of East Gold Point Zone please click: http://www.cacheexploration.com/wp-content/uploads/2017/08/2017-08-02-nrm-gold-pt-cay-uy95qm.pdf
QA/QC and Core Sampling Protocols
Drill core samples are bagged and sealed and submitted to SGS in Red Lake, Ontario for sample preparation. Gold analysis is completed in the SGS Red Lake lab with a 30g fire assay and AAS finish (code GE-FAA313). Samples returning >5 g/t Au are re-assayed with a gravimetric finish (code GO-FAG303). Control samples (accredited standards and non-accredited blanks) were inserted on a regular basis. 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 cause 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
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