Cascadia Minerals Ltd. (“Cascadia”) (TSXV: CAM,OTC:CAMNF) (OTCQB: CAMNF) is pleased to announce that Mr. Robert Dixon has been appointed director and non-executive chairman of the Board of Directors of Cascadia.
Mr. Dixon is Global Head of Institutional Coverage at Jett Capital, with more than 20 years of capital markets experience. He previously held positions as Managing Director – Dundee Goodman Merchant Partners, Partner, VP Institutional Sales at Clarus Securities Inc and VP Equity Sales at Dundee Securities. In addition, Robert lived in London (UK) works for Bryan Garnier & Co, and Standard & Poor’s. He also serves as an independent director for the privately held Willeson Metals. Robert received a Bachelor of Arts (BA) from the University of Victoria, British Columbia and a Kellogg-Schulich MBA.
” We are very pleased to welcome Rob as Chairman of Cascadia and look forward to working with him as we rapidly progress our newly acquired downtown Carmacks project. Yukon , “explained Graham Downs Cascadia’s president and CEO. ” Rob’s decades of experience in global capital markets in the commodities sector will be invaluable as we work to expand the commodities we own 100%. Carmacks copper-gold deposits and tests regional targets in the Minto Copper Belt. ”
“I am deeply honored to be appointed Chairman of Cascadia’s Board of Directors and to work with a proven management and technical team with decades of experience Yukon experience and a track record of discoveries. Management has created an exceptional and timely opportunity by acquiring the Carmacks project, which covers a large part of the project Yukons Minto Copper Belt and hosts one of the few road-accessible copper-gold deposits in a mining-friendly jurisdiction,” commented Robert Dixon . ” With Cascadia’s initial ~4,000 m drill program nearing completion, I am very excited to see the results and look forward to contributing to the company’s efforts for the benefit of its stakeholders.”
Stock incentive plan subsidies
Cascadia also announces the grant of incentive stock options (the “ Options “) to certain of its directors, officers, employees and consultants, pursuant to its Omnibus Equity Incentive Plan, which entitles them to purchase up to 600,000 shares of common stock at a price of $0.20 per share. These Options have a term of five years and vest on a quarterly basis, starting three months after the date of grant.
About Cascadia
Cascadia’s flagship is the 177 km 2 Carmacks Project, located 35 km southeast of the former Minto mine, which was recently acquired by Selkirk Copper Mines Inc. The Carmacks Project is accessible by road via an 8.1 mile access road extending from the government-maintained Freegold Road northwest of Carmacks in central Yukon . The project has an existing camp for 40 people, numerous roads throughout the site and is 10 km from the electricity grid.
The Carmacks Main Deposit has a measured and indicated resource containing 651mlb copper and 302koz gold (36.3mt grading 0.81% copper, 0.26g/t gold and 3.23g/t silver and 0.01% molybdenum) or 1.07% copper equivalent. A preliminary economic assessment from 2023 showed positive economic potential, with a $230.4 million net present value after taxes (5%) and 29% IRR after taxes US$3.75 /lb copper and $1,800 /oz gold. A second case evaluated on $4.25 /lb copper and $2,000 /oz gold returned a $330.1 million net present value after taxes (5%) and 38% IRR after taxes.
Cascadia also has a pipeline of copper-gold properties in the Yukon Stikine Terrane, including the Catch Property, which is home to a copper-gold-porphyry discovery with the inaugural drill results returning broad intervals of mineralization. 116.60 m of 0.31% copper with 0.30 g/ton gold). Catch exhibits extensive high-grade copper and gold mineralization over a 5km trend, with rock samples returning peak values of 3.88% copper, 1,065 g/t gold and 267 g/t silver.
Drilling is currently underway at the Carmacks Project, with max 4,000 m diamond drilling scheduled for fall 2025. Cascadia is well funded, with approx $4 million of working capital.
QA/QC
Reference is made to the mineral resources and economic analyzes published here from the 2023 Technical Report on the Preliminary Economic Assessment of the Carmacks Project authored by SGS Canada Inc. The pricing for the Carmacks Project PEA base case for the economic analysis was American $3.75 /lb copper, USA $1,800 /oz gold and US $22 /oz of silver at an exchange rate of $1 : US$0.75 . The results of the Carmacks Preliminary economic assessments are preliminary in nature, they include inferred mineral resources that are considered geologically too speculative to have the economic considerations applied to them that would allow them to be categorized as mineral reserves, and there is no assurance that the preliminary economic assessment will be realized. The estimated actual width varies, but is expected to generally be 60-70% of the transected width.
The results referenced in this release represent highlights only. Drilling, soil and rock samples in these target areas showed below detection values for gold, copper, silver and molybdenum. Readers are cautioned that the characterization of the Minto Deposit mineralization described in this press release is not necessarily indicative of mineralization on the Carmacks Project.
The equivalent value of copper assumes metal prices of $3.75 / pound copper, $2,000 /oz gold, $25 / pound silver, $12 /lb molybdenum, and a recovery of 82% for copper, 70% for gold, 69% for silver and 70% for molybdenum.
The technical information in this press release has been approved by Andreas Carne M.Eng., P.Eng., VP of Corporate Development for Cascadia and a qualified person for the purposes of National Instrument 43-101.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE SUITABILITY OR ACCURACY OF THIS NEWS RELEASE.
Cautionary Statement Regarding Forward-Looking Statements:
This press release may contain “forward-looking information” within the meaning of applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated in these statements. The statements in this press release are made as of the date of this press release. Cascadia assumes no obligation to update any forward-looking information, except as required by securities laws.
SOURCE Cascadia Minerals Ltd.
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