The Conversation (0)
Cache Exploration Inc. (CVE:CAY) reports that a preliminary geological assessment and rock sampling program was completed during July and August at each of the six prospecting permit areas in Nunavut.
The press release is quoted as saying:
Cache was granted six prospecting permits in February 2011 which cover 207,874 acres in the south-east portion of Nunavut (see attached map). The permit applications were filed in December 2010 to cover areas which are known to host airborne radiometric anomalies and Th-U occurrences as researched by Cache in the Geological Survey of Canada (GSC) database. Each Th-U occurrence has the potential to host associated anomalous rare earth elements (“REEs”) based on analogies with other systems in the TransHudson Orogen. The permit areas cover three main targets that were prospected by two geologists with field assistants from Baker Lake in Nunavut and Tadoule Lake and Lac Brochet in Manitoba. The work programs were conducted between July 15th and August 19th, 2011. The program goal was to verify the occurrences with the aid of a RS-125 spectrometer and sample them in order to evaluate the potential of each permit area.