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Cascadia Minerals Ltd. ("Cascadia") (TSX-V: CAM) (OTCQB: CAMNF) is pleased to announce the results of five additional drill holes from its fully-funded 2026 exploration program at the road-accessible Carmacks copper-gold project in central Yukon. These results continue to expand mineralization at Carmacks beyond the boundaries of the existing Mineral Resource and highlight one of the highest-grade intervals ever drilled on the project.
Cascadia Hits 82.69 m of 1.12% Copper, 0.64 g/t Gold at Carmacks youtube.com
Carmacks Drilling Highlights
- Hole CD-26-056 at Zone 2000S returned:
- 82.69 m of 1.12% copper with 0.64 g/t gold (1.78% CuEq),
- including 49.16 m of 1.63% copper with 0.95 g/t gold (2.62% CuEq);
- Hole 056 was drilled 70 m northwest of hole CD-26-050, which returned 52.84 m of 1.04% copper with 0.37 g/t gold;
- The holes in this area exhibit higher gold to copper ratios than is typically seen in the deposit;
- Sulphide mineralization has been encountered 300 m beyond the Mineral Resource, doubling the strike length of Zone 2000S, with results pending for a further six step-out holes;
- The fully-funded 2026 drill program has been expanded from 15,000 m to 18,000 m, to allow for additional drilling at this northern extension of Zone 2000S; and
- Three holes were recently drilled at the Zone 14 target, and drilling is now underway at the Zone A target, 11 km north of the Carmacks Deposit.
"The interval drilled in hole 56 is one of the strongest intersections ever returned on the property," said Graham Downs, President and CEO of Cascadia. "The discovery of this significant extension of Zone 2000S in an area previously thought to be barren is extremely encouraging. In addition to high-grade copper, this area is also exhibiting more gold than is typically seen elsewhere in the deposit. Given the success of this year's drilling, we are expanding our 2026 drill program to approximately 18,000 m, with additional follow-up holes planned in the 2000S area. We have also recently completed regional exploration holes at Zone 14, located 500 m east of the Carmacks Deposit, and drilling is now underway at Zone A, 11 km northwest of the Carmacks Deposit."
Figure 1 – Carmacks Deposit Drill Plan Map
Figure 2 – Zone 2000S Long Section
Figure 3 – Cross Section A, CD-26-056
Figure 4 – Carmacks Property Map
To learn more about these results, join Graham Downs, Cascadia's President & CEO for a webinar on Wednesday, September 2nd at 9AM PT / 12PM ET. Register here: https://6ix.com/event/cascadia-drills-high-grades-at-zone-2000s-extension
To view the Carmacks Deposit and these newly released results in 3D, please click here: https://mininghub.com/3d/v/3cwKkZNt
2026 Carmacks Drilling Summary
A total of 26 holes comprising 13,106 m have been completed out of an expanded 18,000 m drill program. Work to-date has been focused at the 147 and 2000S zones, with prioritization of holes testing the extension of Zone 2000S north towards Zone 147. Drilling in this area has now encountered sulphide mineralization 300 m north of the existing Mineral Resource at Zone 2000S, within 300 m of the southern extent of sulphide mineralization drilled in Zone 147. Three holes were recently completed at Zone 14, located 500 m east of Zone 1213. Drilling has also commenced at Zone A, located 11 km northwest of the main Carmacks Deposit.
Eleven holes from the ongoing 2026 drill program have been previously released. Assays from the remaining holes are pending and will be released once they are received and compiled.
Table 1: New Carmacks Drilling Results (September 1, 2026)
Drill Hole | From | To (m) | Interval | Copper | Gold | Silver | Molybdenum | CuEq. |
Zone 2000S | ||||||||
CD-26-054 | 454.34 | 530.65 | 76.31 | 0.48 | 0.23 | 2.4 | 43 | 0.70 |
Incl. | 465.81 | 478.37 | 12.56 | 0.73 | 0.48 | 4.7 | 44 | 1.16 |
CD-26-056 | 321.17 | 403.86 | 82.69 | 1.12 | 0.64 | 6.3 | 236 | 1.78 |
Incl. | 321.17 | 370.33 | 49.16 | 1.63 | 0.95 | 9.3 | 375 | 2.62 |
Zone 147 | ||||||||
CD-26-052 | 539.40 | 577.72 | 38.32 | 0.42 | 0.10 | 1.6 | 51 | 0.54 |
CD-26-055 | No significant results | |||||||
Sourtoe Target | ||||||||
CD-26-053 | No significant results | |||||||
* The reported intervals are drilled thicknesses. True widths are estimated to be 60-70%. |
** Copper equivalent calculations use metal prices of US$4.00/lb for copper, US$2,500/oz for gold, US$30/oz for |
silver and US$20/lb for molybdenum. Recovery factors of 82% for copper, 70% for gold, 69% for silver and 70% |
for molybdenum were used, based on recovery projections from the 2023 PEA study. |
Zone 2000S Drill Results
Drilling at Zone 2000S has continued to focus on extending the zone beyond historical drilling both at depth and to the north, towards Zone 147. At Zone 2000S, historical drilling delineated mineralization over a strike length of 300 m and was thought to terminate to the north. It was on this basis that the 2022 Resource Estimate was calculated. Drilling in 2026 has demonstrated that this area remains open, with Zone 2000S continuing a further 300 m towards Zone 147, doubling the strike length of Zone 2000S. This area is also exhibiting higher grade mineralization, with enriched gold and molybdenum compared to other portions of the deposit.
Hole CD-26-054 was drilled 100 m down-dip of previously reported hole CD-26-048 and below the 2022 resource model. It intersected 76.31 m of 0.48% copper with 0.23 g/t gold (0.70% copper equivalent), including 12.56 m of 0.73% copper with 0.48 g/t gold (1.16% copper equivalent). This intersection represents the deepest point ever tested in the 2000S zone, for a total vertical extent of 467 m from surface. The zone remains fully open at depth.
Hole CD-26-056 returned one of the highest-grade intersections ever drilled on the property, with 82.69 m of 1.12% copper with 0.64 g/t gold (1.78% CuEq), including 49.16 m of 1.63% copper with 0.95 g/t gold (2.62% CuEq). Hole 056 was drilled 70 m northwest of previously reported hole CD-26-050, which returned 52.84 m of 1.04% copper with 0.37 g/t gold. In addition to strong copper grades, this hole also encountered higher gold and molybdenum grades than typically observed elsewhere in the deposit. This area remains largely open.
Results for six additional step-out holes are pending, and this area will receive targeted follow-up drilling this fall.
Other Drill Results
Hole CD-26-052 was drilled in the deep central portion of Zone 147, underneath hole CD-26-047, and returned 38.32 m of 0.42% copper with 0.10 g/t gold (0.54% CuEq). Hole CD-26-055 was drilled at the deep northern extension of Zone 147 and did not return significant mineralization. This hole suggests that Zone 147 may be pinching out at depth in this direction. Zone 147 remains open in multiple other directions.
Hole CD-26-053 was drilled at the Sourtoe Target, located 1 km west of Zone 147, testing an IP geophysical anomaly coincident with surface mineralization. Hole 053 and nearby hole 051 encountered several rafts of migmatized rock with non-copper-bearing sulphides which explain the IP geophysical anomaly but do not explain surface copper mineralization present in trenches. Further work is warranted in this area; however additional drilling is not planned this year.
Table 2: 2026 Carmacks Diamond Drill Collar Locations
Zone | Drill Hole | Easting (m)* | Northing (m)* | Azimuth (°) | Dip (°) | Depth (m) | Status |
147 | CD-26-041 | 412097 | 6913674 | 229 | -68 | 289.56 | Released** |
CD-26-042 | 412170 | 6913981 | 243 | -64 | 521.21 | Released** | |
CD-26-044 | 412228 | 6913934 | 245 | -64 | 577.60 | Released** | |
CD-26-047 | 412165 | 6913839 | 246 | -63 | 525.78 | Released** | |
CD-26-049 | 412339 | 6914013 | 237 | -58 | 673.61 | Released** | |
CD-26-052 | 412308 | 6913877 | 242 | -60 | 630.94 | Released | |
CD-26-055 | 412460 | 6914045 | 243 | -55 | 806.20 | Released | |
2000S | CD-26-045 | 412339 | 6913044 | 248 | -55 | 301.65 | Released** |
CD-26-046 | 412339 | 6913039 | 246 | -65 | 446.53 | Released** | |
CD-26-048 | 412360 | 6912977 | 245 | -65 | 411.20 | Released** | |
CD-26-050 | 412420 | 6913106 | 243 | -57 | 534.92 | Released** | |
CD-26-054 | 412482 | 6913045 | 245 | -58 | 563.88 | Released | |
CD-26-056 | 412360 | 6913135 | 244 | -58 | 413.00 | Released | |
CD-26-057 | 412495 | 6913176 | 240 | -56 | 609.60 | Pending | |
CD-26-058 | 412402 | 6913234 | 238 | -56 | 545.90 | Pending | |
CD-26-059 | 412393 | 6913275 | 249 | -55 | 589.79 | Pending | |
CD-26-060 | 412391 | 6913428 | 236 | -55 | 679.70 | Pending | |
CD-26-061 | 412359 | 6913497 | 236 | -55 | 678.18 | Pending | |
CD-26-064 | 412333 | 6913207 | 236 | -55 | 487.68 | Pending | |
Gap | CD-26-043 | 412155 | 6913167 | 250 | -60 | 498.35 | Released** |
Sourtoe | CD-26-051 | 411181 | 6913362 | 248 | -55 | 467.87 | Released** |
CD-26-053 | 411310 | 6913243 | 245 | -55 | 563.88 | Released | |
14 | CD-26-062 | 413585 | 6912621 | 70 | -75 | 282.50 | Pending |
CD-26-063 | 413585 | 6912621 | 289 | -60 | 271.00 | Pending | |
CD-26-065 | 413585 | 6912621 | 205 | -60 | 298.50 | Pending |
* Collar co-ordinates are provisional and may change slightly when surveys are completed. |
** Previously released hole. |
Carmacks Property Overview
Cascadia's 180 km2 Carmacks Project is located within the Traditional Territory of the Little Salmon Carmacks and Selkirk First Nations and is 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 the town 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 project covers a large portion of the Minto Copper Belt, a 180 km x 60 km belt of intrusion-related copper-gold-silver deposits. This belt is situated within the Stikine Terrane, which extends into Yukon from British Columbia, and is characterized by Late Triassic to early Jurassic volcanic-plutonic arc complexes that are well-endowed with copper-gold-molybdenum porphyries including the Red Chris, Schaft Creek, Kemess, KSM and Galore Creek deposits and mines.
In addition to numerous early-stage targets, the project hosts the resource-stage Carmacks Deposit, comprising a series of 5-100 m wide 'rafts' of variably migmatized xenolithic meta-sedimentary and meta-volcanic rocks hosted within the coarse crystalline granitoids of the Granitoid Mountain Batholith suite. The 'rafts' generally trend NNW-SSE over 3 km of strike length and form three distinct zones of mineralization. Sulphide mineralization is confined to the metamorphic 'rafts' and is found as chalcopyrite-bornite foliation parallel stringers as well as net-textured clots, interpreted as evidence for later sulphide melts. The contacts with the intrusive phases of the granite mountain batholith are sharp and unaltered. The geology and deposit model are thought to be similar to the nearby Minto Deposit, with past work suggesting that the system is the result of an alkalic porphyry deposit that was metamorphosed up to the point of partial melting at depths of up to 25km, followed by rapid uplift to near surface.
The Carmacks 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, 3.23 g/t silver and 0.01% molybdenum) or 1.07% copper equivalent, and an Inferred Resource containing 38 Mlbs of copper and 13 koz of gold (2.9 Mt grading 0.60% copper, 0.16 g/t gold, 2.34 g/t silver and 0.02% molybdenum). 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.
The deposit is comprised of three zones, 147, 2000S and 1213, all of which come to surface and remain open to expansion in multiple directions. Historical drilling at the deposit focused primarily on oxide copper mineralization, and numerous holes were ended when sulphide mineralization was encountered. Zone 1213 in particular hosts very shallow sulphide mineralization that has seen limited drilling.
About Cascadia
Cascadia's flagship asset is the Carmacks Project in the high-grade Minto Copper Belt in Yukon Territory, Canada. Cascadia is also exploring the Stikine Terrane in Yukon for new gold-copper discoveries through its Strategic Alliance with Agnico Eagle Mines Ltd. The Stikine Terrane extends into Yukon from British Columbia's Golden Triangle and is a highly prospective target area for gold-copper porphyry mineralization. While the expression of the Stikine Terrane in British Columbia has been explored in detail – resulting in numerous discoveries – its expression in Yukon is comparatively underexplored and not well understood.
QA/QC
Analytical work was completed by ALS Canada Ltd., with sample preparation in Whitehorse, Yukon and Langley, BC, and geochemical analyses in North Vancouver, BC. Core samples were fine crushed before a 250-gram split was pulverized to better than 85% passing 75 microns. Gold was determined for core samples by the Au-AA23 procedure, which involves fire assay preparation using a 30-gram charge with an atomic absorption spectroscopy finish. Multi-element data for 48 elements was determined by the ME-MS61 procedure, which involves a four-acid digestion followed by inductively coupled plasma-atomic emission spectroscopy ("ICP-AES") and inductively coupled plasma-mass spectrometry. Overlimit values for copper were determined by the Cu-OG62 procedure, which involves a four-acid digestion followed by ICP-AES.
Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream of diamond drill samples to ensure integrity of the assay process. All diamond drill samples included in this news release have passed the QA/QC procedures as described above. Core was sampled using a diamond saw, with half of each interval sent to the lab for analysis, and the other half retained. Estimated true widths vary but are expected to be typically 60-70% of the intersected widths.
The Mineral Resources and economic analysis disclosed here are referenced from the 2023 Carmacks Project Preliminary Economic Assessment ("Carmacks PEA"). Pricing for the Carmacks 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 C$1 = US$0.75. The results of the Carmacks PEA 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. For more information on the Carmacks PEA please see the Technical Report entitled Carmacks Project Preliminary Economic Assessment (PEA), Yukon, Canada dated March 6, 2023, authored by SGS Canada Inc. for Granite Creek Copper Ltd. A copy of this Technical Report is available on www.cascadiaminerals.com and on SEDAR+ under the Granite Creek Copper Ltd. profile.
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 grab samples are selective by nature and are not necessarily representative of the grade of mineralization on the property. Copper equivalent calculations use metal prices of US$4.00/lb for copper, US$2,500/oz for gold, US$30/oz for silver and US$20/lb for molybdenum. Recovery factors of 82% for copper, 70% for gold, 69% for silver and 70% for molybdenum were used, based on recovery projections from the Carmacks PEA.
The technical information in this news release has been approved by Thomas Hawkins, P.Geo., VP Exploration for Cascadia and a qualified person for the purposes of National Instrument 43-101.
On behalf of Cascadia Minerals Ltd.
Graham Downs, President and CEO
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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