Cache Exploration Inc. (CVE:CAY) reports that an exploration program has began at the Louil Hills properties on the Bonavista Peninsula, Newfoundland.
The press release is quoted as saying:
The two Louil Hills claim groups of 37 and 57 claims total 23.5 hectares. This exploration program is a follow-up on the very encouraging results found last field season on the peralkaline REE+Y igneous suite, and the Cu-Ag mineralization in the region that is a spatially associated basaltic and sedimentary sequence. The Newfoundland Geological Survey’s “Geoscience Online” database and a compilation by Cache of previous reports of work indicate 11 Cu-Ag-Au occurrences on these properties (see attached map). One such occurrence noting up to 12.1% Cu, 3.02 oz/ton Ag, and 2,130 ppb Au within the Louil Hills claim boundaries that is one of the priority targets to be located and sampled in detail.