(TheNewswire)
Vancouver, B.C. - TheNewswire - December 23 ,2020 – Cache Exploration Inc. (the “Company” or“Cache”) ( TSXV:CAY ) ( OTC:CEXPF ) is pleased to announce theresults from metallurgical tests from the Rusty Zone at the Kiyuk Lakegold project, Nunavut.
The previously reported intercept of 8m @ 26.4 g/t Au reported fromKI17-001 from 2017 summer drilling in the Rusty zone was submitted toSGS Laboratories for metallurgical testing and screen metallics. Cacheis please to report that leachwell active accelerated cyanide leachtesting returned an average of 98% free gold recovery from theintercept.
Both leachwell and metallic screens yielded slightly lower Au valuesover the intercept of 21.5 g/t Au and 24.2 g/t Au respectively. Thesevalues are lower compared to the original 50 g fire assay results, butthese lower values are considered to be more precise estimates of theAu content of the sample. Regardless, they confirm the high-gradenature of the Au intersection examined.
Jack Bal, CEO of Cache ExplorationInc , states “The 98% free gold recovery tellus the metallurgy of Kiyuk Lake is mainly free gold. This simplifiesthe metallurgy of the deposit and lowers the cost of recovery of Gold.We are extremely pleased with the upcoming drill program”
Table 1 Results from Leachwelland Metallic Screen tests
Sample Number | Original Au ppm | Leachwell Au ppm | Tails FA Au ppm | Total Au ppm | Free Au % | Metallic Au ppm |
A00207356 | 0.025 | 0.89 | <0.005 | 0.89 | 100 | 1.74 |
A00207357 | 4.52 | 5.7 | 0.037 | 5.737 | 99 | 6.24 |
A00207358 | 103 | 73.5 | 1.82 | 75.32 | 98 | 85.1 |
A00207359 | 7.45 | 6.21 | 0.235 | 6.445 | 96 | 4.24 |
A00207361 | 1.2 | 0.71 | 0.019 | 0.729 | 97 | 1.32 |
A00207362 | 0.006 | <0.01 | <0.005 | <0.01 | <0.01 | |
A00207363 | 0.007 | 0.03 | <0.005 | 0.03 | 100 | 0.04 |
Totals | 116.208 | 89.151 | 98.68 |
Summary of Analysis:
A 1 kg split of coarse reject material from a selected high-gradeintersection was pulverized at SGS Red Lake. Approximately 400 g ofthis material underwent screened metallic fire assay at Red Lake usinga 200 mesh (75 micron) screen, with a duplicate 50 g fire assay of the-200 mesh material (method GO FAS30k). The +200 mesh material was fireassayed in total. The assay results are weighted by the respectiveweights of the +200 and -200 grain size fractions to calculate a totalAu value for each sample. 500 g of material was also sent to SGS inBurnaby for an active accelerated cyanide leach (Leachwell method codeGE LWL69K). After tumbling for 24 hours, an organic solvent (DIBK) wasadded to extract the Au and the solvent analyzed using AAS. This assaygives the concentration of free Au in the sample that can be extractedusing cyanide. A 50 g fire assay of the tails gives the concentrationof Au that was not dissolved in the cyanide. Combined, the two valuesgive a bulk Au assay for the 500 g sample, as well as the proportionof free to encapsulated Au in the sample for the pulverization used.In this instance nearly 100% of all Au in the sample was liberatedduring pulverization and was available to be taken up by the cyanidesolution.
Rusty Zone
Drilling at the Rusty zone will be focused onoffsetting the high-grade gold intercepts in 2017 and expanding thedisseminated gold mineralization at depth and at surface to the southand east. Drilling in 2013 and 2017 demonstrated strong continuityof breccia-hosted gold mineralization within the Rusty zone.
Highlights from previous drilling at Rustyinclude:
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- 8.0m at 26.4 g/t Au from 108m
- 52.4 m at 3.2 g/t Au from surface
- 35.9 m at 4.9 g/t Au from 134.1 m
- 61.5 m at 3.3 g/t Au from 159 m
- 122.0m at 1.8 g/t Au from 188m
Gold Point Zone & East Gold PointDiscovery
The Gold Point zone is a high priority target locatedin a 24 kilometre magnetic anomaly coinciding with a polymicticconglomerate that will receive further drilling in this program. Ground magnetics, prospecting and mapping in 2012 and 2013identified a possible extension of Gold Point mineralization by thediscovery of similar mineralization, in boulders, in the polymicticconglomerate that hosts the Gold Point zone. These extensional zones -South Gold Point and East Gold Point respectively - were furtherdefined by ground magnetics as zones of magnetite destructioncoincident with east-west structures, which are identical to thosefound at the Gold Point zone. Drilling in 2017 resulted in a newdiscovery at East Gold Point. Drilling in 2021 will focus on expandingEast Gold Point and discovery drilling at South Gold Point in additionto the expansion drilling at Gold Point.
Previous drilling at the Gold Point zonereturned:
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- 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
East Gold Point, is located 700m to the east of the Gold Point zone.This previously untested target was defined by coincidence ofmagnetite destructive features observed in ground magnetic data andthe presence of mineralized boulders on surface. East Gold Pointrepresents a ‘proof of concept’ new discovery that confirms theprospective potential of structures that cross cut the polymicticconglomerate unit. Success in intercepting significant goldmineralization in the first drill hole to target the northern mostextent of this structure is a positive result for further developmentof gold mineralization models at the Kiyuk Lake project. The strikelength of the magnetite destructive features is yet to be determinedand will require further ground magnetic surveying to define andconstrain their extent.
Drilling at the East Gold Point returned:
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- 64.0 m at 1.46 g/t Au from 35 m
- 10 m at 6.5 g/t Au from 248 m
About Cache Exploration
Cache Exploration is focused on its Kiyuk Lake goldproject in Nunavut. Kiyuk Lake is a true district play in a new goldcamp, covering a majority proportion of the Proterozoic Kiyuk Basin.The property has seen 13,500 meters of drilling in 4 drill programsfrom 2008-2017. Gold Showings occur over 15 Km in the basin.Drilling has discovered multiple gold intercepts over 1 g/t Au in fivediscrete mineralized zones Rusty, Gold Point, East Gold Point, Cobaltand Amundsen. Significant expansion possible with five new targetareas identified and ready for drilling. Exploration at Kiyuk Laketakes place in winter-spring (February – May) and summer-fall(June-October).
Qualified Persons
Chris Pennimpede, P. Geo., is a Qualified Person asdefined by National Instrument 43-101, has reviewed and verified thetechnical mining information provided in this release.
For more information about Cache Exploration, pleasevisit: www.cacheexploration.com
FOR MORE INFORMATION, PLEASE CONTACT:
Jack Bal
604-3065285
jackbal@cacheexploration.com
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