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Cascadia Minerals Ltd. (" Cascadia ") (TSXV: CAM,OTC:CAMNF) (OTCQB: CAMNF) is pleased to announce that Mr. Robert Dixon has been appointed as a director and non-executive Chairman of Cascadia's Board of Directors.
Mr. Dixon is the Global Head of Institutional Coverage at Jett Capital, with over 20 years of experience in capital markets. He has previously held roles including 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) working for Bryan Garnier & Co, and Standard & Poor's. He also serves as an Independent Director for private company, Willeson Metals. Robert Holds 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 Cascadia's Chairman and we look forward to working with him as we rapidly advance our newly acquired Carmacks Project in central Yukon , " stated Graham Downs , Cascadia's President and CEO. " Rob's decades of global capital markets experience in the resource sector will be invaluable as we work to expand resources at our 100% owned Carmacks copper-gold deposit and test regional targets throughout the Minto Copper Belt. "
"I am very honoured to be appointed Chairman of the Board of Directors of Cascadia and to be working with a proven management and technical team with decades of 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 portion of Yukon's Minto Copper Belt and hosts one of very few road-accessible, copper-gold deposits in a mining friendly jurisdiction," commented Robert Dixon . " With Cascadia's inaugural ~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."
Equity Incentive Plan Grants
Cascadia also announces the granting of incentive stock options (the " Options ") to certain of its directors, officers, employees and consultants, pursuant to its Omnibus Equity Incentive Plan, entitling them to purchase up to 600,000 common shares at a price of $0.20 per share. These Options have a term of five years and will vest on a quarterly basis, commencing three months from the date of grant.
About Cascadia
Cascadia's flagship asset is the 177 km 2 Carmacks Project, located 35 km southeast of the past producing Minto Mine, which was recently acquired by Selkirk Copper Mines Inc. The Carmacks Project is road-accessible, via a 13 km access road which extends from the government-maintained Freegold Road northwest of Carmacks in central Yukon . The project has an existing 40-person camp, numerous roads throughout the property, and is 10 km from grid power.
The Carmacks Main Deposit has a Measured and Indicated Resource containing 651 Mlbs of copper and 302 koz of gold (36.3 million tonnes grading 0.81 % copper, 0.26 g/t gold, and 3.23 g/t silver and 0.01% molybdenum) or 1.07% copper equivalent. A 2023 preliminary economic assessment demonstrated positive economic potential, with a $230.4 M post-tax NPV (5%) and 29% post-tax IRR at US$3.75 /lb copper and US$1,800 /oz gold. A second case evaluated at $4.25 /lb copper and $2,000 /oz gold returned a $330.1 M post-tax NPV (5%) and 38% after-tax IRR.
Cascadia also has a pipeline of discovery stage copper-gold properties throughout the Yukon Stikine Terrane including its Catch Property, which hosts a copper-gold porphyry discovery where inaugural drill results returned broad intervals of mineralization ( 116.60 m of 0.31% copper with 0.30 g/t gold). Catch exhibits extensive high-grade copper and gold mineralization across a 5 km long 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 up to 4,000 m of diamond drilling planned for fall 2025. Cascadia is well-funded, with approximately $4M in working capital.
QA/QC
The Mineral Resources and economic analysis disclosed here are referenced from the 2023 Technical Report on the Carmacks Project Preliminary Economic Assessment, authored by SGS Canada Inc. Pricing for the Carmacks Project PEA base case economic analysis was US $3.75 /lb copper, US $1,800 /oz gold, and US $22 /oz silver at an exchange rate of $1 : US$0.75 . The results of the Carmacks preliminary economic assessment are preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Estimated true widths vary but are expected to be typically 60-70% of the intersected widths.
Results referenced in this release represent highlights only. Below detection values for gold, copper, silver and molybdenum have been encountered in drilling, soil and rock samples in these target areas. Readers are cautioned that the characterization of the Minto Deposit mineralization described in this release is not necessarily indicative of mineralization on the Carmacks Project.
Copper equivalent value assumes metal prices of $3.75 /lb copper, $2,000 /oz gold, $25 /lb silver, $12 /lb molybdenum, and recoveries of 82% for copper, 70% for gold, 69% for silver, and 70% for molybdenum.
The technical information in this news release has been approved by Andrew Carne , M.Eng., P.Eng., VP 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 ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Cautionary note regarding forward-looking statements:
This press release may contain "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. Cascadia undertakes no obligation to update forward-looking information, except as required by securities laws.
SOURCE Cascadia Minerals Ltd.
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