Cascada Silver Corp. has initiated Phase II diamond drilling at its Angie Copper Molybdenum Property in Chile, marking a significant step in exploring the porphyry system's potential. The program, located 85 kilometers east southeast of Copiapo, aims to build upon the encouraging results from the Phase I reverse circulation drilling completed in October 2023.
Strategic Drilling Objectives
The Phase II drilling program will consist of up to 2,000 meters of diamond drilling. This follows the completion of a drone-based magnetometer survey, which was conducted to refine the drill hole collar locations and improve geological interpretation. The primary goal is to penetrate the molybdenum-rich upper levels of the Angie porphyry system, identified during Phase I, and delve deeper into the core of the system where increased copper mineralization is anticipated.
Carl Hansen, Cascada's President and CEO, stated, "The goal of the Phase II program is to drill through the molybdenum-rich upper levels of the Angie porphyry system, cut during the Phase I drill program, and into the core of the system where copper mineralization should be more prevalent."
Promising Phase I Results
The Phase I drill program revealed significant mineralized intervals within the porphyry environment. Notably, drill hole AAS-02 returned 26 meters grading 713 parts per million (ppm) molybdenum, including a higher-grade interval of 1,208 ppm molybdenum over 8 meters at the end of the hole. While copper mineralization (chalcopyrite and bornite) was observed below 100 meters downhole in both Phase I drill holes, no significant copper assays were returned.
Magnetometer Survey Insights
The recently completed 132-line kilometer drone-based magnetometer survey has provided valuable insights into the geological structure of the Angie property. The survey results indicate that molybdenum anomalies correspond to areas of elevated magnetic responses, potentially linked to mineralized intrusives and associated alteration. This magnetic data closely outlines the interpreted contact between the Eocene intrusives to the east and the Paleocene intrusives to the west, which hosts the porphyry-style mineralization and alteration.
Drilling Targets and Timeline
The first Phase II drill hole, DAAS-03, is planned to reach a depth of 500 meters, targeting the extension of the mineralization encountered at the end of drill hole AAS-02, which was terminated at 176 meters. The subsequent drill holes will target the two +150 ppm molybdenum centers of the larger 800 by 1,500-meter anomaly. The final hole location will be determined based on the visual results from the initial three holes. The Phase II program is anticipated to be completed in February 2025, with final assays expected 4 to 6 weeks thereafter.
