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Casa Minerals Inc
Symbol CASA
Shares Issued 36,460,635
Close 2018-10-15 C$ 0.20
Recent Sedar Documents

Casa Minerals samples two ft of 574.42 g/t Au at Golden

2018-10-16 06:09 ET - News Release

Mr. Farshad Shirvani rpeorts

DISCOVERY AT PITMAN PROJECT ASSAYED 574.42 G/T (OVER 2 FT) AND 268.86 G/T (OVER 3 FT) GOLD IN ROCK SAMPLES AT GOLDEN DRAGON VEINS

Casa Minerals Inc. has discovered a network of polymetallic mineralized veins in the Golden Dragon prospect, which is part of its 100-per-cent-owned Pitman property located 20 kilometres north of Terrace, B.C., and 15 km northwest of the company's Keaper property. The Golden Dragon prospect includes the historic Paddy-Mac gold veins.

Golden Dragon

The Golden Dragon veining network was discovered by Casa's field crew that was prospecting and sampling in the area of the historic Paddy Mac and Gold Dome gold prospects. The system includes multilevel semi-parallel veins of apparent east-west attitude that have been traced intermittently over an approximate distance of 500 metres. Numerous occurrences are daylighted on the north facing slopes of the Nass plateau and are overlaid to the west by talus material. Veins are inclined southerly at 55 to 65 degrees and are hosted by brecciated argillite cemented by stringers of quartz and irregularly distributed pods and veinlets of pyrite and chalcopyrite. Widths vary and in places are as much as three metres (10 feet). The new veins were discovered by Casa's exploration team in August, 2018, and have not been fully mapped and sampled.

Recent initial rock samples from the Golden Dragon discovery area have returned analyses with very significant gold, silver and base metal values:

  • Rock chip sample A0007218, from a two-foot-wide vein, returned assays of 574.42 grams per tonne gold and 109 g/t silver plus 0.1 per cent copper, 1.56 per cent lead and 0.23 per cent zinc.
  • Rock chip sample A0007221, from a three-foot-wide vein, assayed 268.86 g/t gold and 127 g/t silver plus 0.2 per cent copper, 2.95 per cent lead and 0.04 per cent zinc.
  • Rock chip sample A0007219, from a one-foot-wide vein, assayed 50.83 g/t gold, trace copper, 0.21 per cent lead and 0.02 per cent zinc.

Assays from additional sampling have not been received.

In addition to the newly identified Golden Dragon veins, the area includes the historic Paddy Mac veins and two short adits that in the past have been explored by sampling. Selected Paddy Mac samples, both historic and by Casa, are included in the accompanying table and are shown in images on the company's website.

The associated table includes analyses of mineralized rock samples taken by Casa field workers in 2017 and 2018 from the Golden Dragon prospect area.

                     GOLDEN DRAGON DISCOVERY VEINS SELECTED SAMPLES

Rock sample ID    Sample width    Gold    Silver      Cu      Cu       Pb     Pb         Zn
                                 (g/t)     (g/t)   (ppm)     (%)    (ppm)    (%)      (ppm)

A0007218                  2 ft  574.42    109.00     640           15,600   1.56      2,314
A0007221                  3 ft  268.86       127   2,201    0.22   29,500   2.95        448
A0007219                  1 ft   50.83     28.00      88            2,082               153
A0007227                  2 ft    2.44     92.00   2,692    0.27   45,400   4.54      9,800
A0007220                1/2 ft    0.24      5.70     288            2,617              1972
A0007234                1/3 ft    0.91     29.30    1295            2,079               492
A0007235                1/3 ft    0.11     26.70     256            2,212               394
PM Sa2*                   Grab    1.29    177.00  10,500    1.05    8,506               824
PM Sa3*                   Grab    0.49    215.00   6,091    0.61   13,100   1.31        530
A0007231                1/3 ft    0.24    218.00   1,835    0.18   16,400   1.64        587
A0007233                1/3 ft    0.55    203.00    7998    0.80   14,900   1.49      1,014
A0007208                  1 ft    1.56     62.40   2,477    0.25    6,814               770
A0007213                  2 ft    6.71      8.60     184              918                84
A0007215                  1 ft    9.77      4.70     289              160               528

(*) 2017 samples, all other samples are 2018.

The associated tables include samples from historic sampling of veins at Golden Dragon.

                          BEMA SAMPLES 1980 -- PADDY MAC (1)           
                                     
Sample ID  Sample width      Gold      Silver          Cu     Cu       Pb     Pb         Zn
                         (oz/ton)    (oz/ton)       (ppm)    (%)    (ppm)    (%)      (ppm)

86951B            45 cm       6.6        26.3      23,200   2.32   98,800   9.88
86952B            40 cm     0.442        6.48      26,600   2.66   56,800   5.68
86955B            50 cm     0.142        9.82      50,500   5.05   50,500   5.05
86957B            40 cm     0.566        8.22       8,700   0.87   79,300   7.93
86958B            20 cm     0.408        5.06       4,600   0.46   19,500   1.95
86961B            40 cm     0.264        7.14      15,100   1.51
86962B            15 cm     0.348        5.06       4,800   0.48   31,700   3.17
86963B            35 cm      0.22        7.24      16,100   1.61   44,400   4.44
86976B            40 cm     0.456        2.95
86978B            55 cm     0.242        5.42       8,600   0.86   53,100   5.31


                            CANAMAX SAMPLES 1986 -- PADDY MAC (2)    
                                    
Sample ID  Sample width      Gold      Silver         Cu      Cu       Pb     Pb        Zn
                         (oz/ton)    (oz/ton)      (ppm)     (%)    (ppm)    (%)     (ppm)

86CCA21                       4.3        2.32        100    0.01    3,400   0.34       200
86CCA23                      2.35        2.42        700    0.07    7,400   0.74     2,800
86CCA25                      0.64        3.22        800    0.08   29,800   2.98       600
86CCA26                      1.26        3.36      4,600    0.46   48,400   4.84       600
86CCA36           0.3 m      10.9         7.4        600    0.06    3,800   0.38       200
86CCA37          0.38 m     0.925        0.48        500    0.05    1,200   0.12     2,200
86CCA39           0.4 m     0.505        4.12      1,900    0.19    1,800   0.18       200
86CCA47           0.5 m      0.19        3.36      5,400    0.54    4,400   0.44       200

Casa's geological team is continuing to map and sample various parts of the Golden Dragon discovery area. One area, the Lucky zone, located on higher elevations of the Golden Dragon, is inaccessible but is estimated to be two to five metres wide and about 35 metres in exposed length: Abundant malachite (copper) staining may be evidence of strong copper/gold mineralization.

Gold Dome/WoMo

Gold Dome and WoMo occur in a broad zone of sulphide mineralization located at high elevation north of the Golden Dragon area of gold-copper prospects. Although it is a historic mineral occurrence, Casa Minerals in 2010 was the first operator to obtain samples from several exposures in deeply incised stream channel ways. Sample assays included high-grade gold, silver, copper and molybdenum values. Further information is located on the website of the company.

Future plans

Casa Minerals' field crew is continuing geologic mapping, prospecting and soil sampling work in order to better understand the geology and mineralization of all parts of the Pitman property. The company plans to complete an airborne geophysical survey of both its Pitman and Keaper properties. Further results of work will be announced when received.

Cautionary note

The maps on the company's website and the associated tables include historic analyses from work by other operators that have not been verified by Casa Minerals due to the historical nature of these assays. Nevertheless, Casa Minerals views the Golden Dragon prospect as a priority exploration target on the Pitman property.

Quality assurance/quality control

Golden Dragon area samples were taken in the field under the supervision of qualified persons. Samples were placed in suitable plastic bags and rice bag shipping sacks and forwarded by bonded commercial carriers to a testing laboratory with ISO/IEC 17025:2005 accreditation. Rock and soil samples were processed and analyzed by industry-standard preparation and processing procedures that yield a homogeneous subsample that was then treated by aqua regia digestion and multielement ICP-MS (inductively coupled plasma mass spectrometry) and ICP-ES (inductively coupled plasma emission spectroscopy) determinations. High-grade and overlimit samples were reanalyzed by methods appropriate to the metal content. The laboratory employs rigorous QA/QC protocols that included replicate analyses, random insertion of samples of predetermined values and constant monitoring of instrumentation.

Qualified person

Erik Ostensoe, PGeo, a director of the company, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure in this news release.

About Casa Minerals Inc.

The company is engaged in the acquisition, exploration and development of mineral properties located in Canada. The company owns a 100-per-cent interest in the polymetallic Pitman property and has an option to acquire a 75-per-cent interest in the Arsenault VMS property.

The Pitman property comprises five contiguous mineral tenures covering 4,255.6 hectares and is located 20 kilometres north of Terrace, B.C. The mineral claims of the Pitman property include several historic prospects, including the Pitman copper-molybdenum-plus/minus-silver prospect, and the Gold Dome and Paddy Mac gold base metal prospects and the newly discovered Golden Dragon.

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