cache exploration

Cache Exploration Announces Appointment of Chris Pennimpede as Technical Advisor

 Cache Exploration Inc. (the "Company" or "Cache") (TSXV: CAY) (OTC Pinksheet: CEXPF) is pleased to announce the appointment of Chris Pennimpede to the Company's Advisory Board.

Cache Exploration Inc. (CNW Group/Cache Exploration Inc.)

Technical Advisor Chris Pennimpede , P.Geo

"The Kiyuk Lake gold project is one of the most exciting gold exploration properties in Canada ", said Chris Pennimpede . "Every exploration program since the first drill program in 2011 has delivered a new gold discovery in a new area demonstrating the potential for further gold discoveries on the project."

Mr. Pennimpede is a professional geologist who helped make several new discoveries on the Kiyuk Lake gold project from 2012 – 2017. He has extensive experience working with exploration-stage companies and exploring for gold in Nunavut .

In 2012, Mr. Pennimpede lead the winter drill program at Kiyuk lake, which resulted in the discovery of the Amundsen and North Snake Zones along with the initial expansion of the Rusty Zone. In 2013, Mr. Pennimpede oversaw the drilling the best gold intercepts ever drilled at the Rusty Zone and additional drilling discoveries in the Snake-Cobalt corridor. In 2017, Mr. Pennimpede designed the program which lead to the drill discovery at East Gold Point and the high-grade gold discovery at Rusty Zone.

Rusty Zone
Drilling at the Rusty zone will be focused on offsetting the high-grade gold intercepts in 2017 and expanding the disseminated gold mineralization at depth and at surface to the south and east.  Drilling in 2013 and 2017 demonstrated strong continuity of breccia-hosted gold mineralization within the Rusty zone.

Highlights from previous drilling at Rusty include:

  • 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 Point Discovery
The Gold Point zone is a high priority target located in a 24 kilometre magnetic anomaly coinciding with a polymictic conglomerate that will receive further drilling in this program.  Ground magnetics, prospecting and mapping in 2012 and 2013 identified a possible extension of Gold Point mineralization by the discovery of similar mineralization, in boulders, in the polymictic conglomerate that hosts the Gold Point zone. These extensional zones - South Gold Point and East Gold Point respectively - were further defined by ground magnetics as zones of magnetite destruction coincident with east-west structures, which are identical to those found at the Gold Point zone.  Drilling in 2017 resulted in a new discovery at East Gold Point. Drilling in 2021 will focus on expanding East Gold Point and discovery drilling at South Gold Point in addition to the expansion drilling at Gold Point.

Previous drilling at the Gold Point zone returned:

  • 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 of magnetite destructive features observed in ground magnetic data and the presence of mineralized boulders on surface. East Gold Point represents a 'proof of concept' new discovery that confirms the prospective potential of structures that cross cut the polymictic conglomerate unit. Success in intercepting significant gold mineralization in the first drill hole to target the northern most extent of this structure is a positive result for further development of gold mineralization models at the Kiyuk Lake project. The strike length of the magnetite destructive features is yet to be determined and will require further ground magnetic surveying to define and constrain their extent.

Drilling at the East Gold Point returned:

  • 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 gold project in Nunavut . Kiyuk Lake is a true district play in a new gold camp, covering a majority proportion of the Proterozoic Kiyuk Basin. The property has seen 13,500 meters of drilling in 4 drill programs from 2008-2017.  Gold Showings occur over 15 Km in the basin. Drilling has discovered multiple gold intercepts over 1 g/t Au in five discrete mineralized zones Rusty, Gold Point, East Gold Point, Cobalt and Amundsen. Significant expansion possible with five new target areas identified and ready for drilling. Exploration at Kiyuk Lake takes place in winter-spring (February – May) and summer-fall (June-October).

Qualified Persons
Chris Pennimpede , P. Geo., is a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical mining information provided in this release.

For more information about Cache Exploration, please visit: www.cacheexploration.com

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SOURCE Cache Exploration Inc.

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Quimbaya logo (CNW Group/Quimbaya Gold Inc.)

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Quimbaya Gold Inc. 
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Cautionary Statements

This press release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, statements regarding the completion of the Offering and the timing thereof, and the anticipated use of proceeds of the Offering are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates," or variations of such words and phrases or statements that certain actions, events or results "may," "could," "should" or "would" or occur. Forward-looking statements are based on certain material assumptions and analyses made by the Company and the opinions and estimates of management as of the date of this press release, including, but not limited to, that the Company will complete the Offering on the terms disclosed, that the Company will receive all necessary regulatory approvals for the Offering, that the Company will use the proceeds of the Offering as currently anticipated; and assumptions relating to the state of the financial markets for the Company's securities. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company may not be able to raise funds under the Offering, as currently anticipated, that the Company may fail to receive any required regulatory approvals for the Offering, that the Company will not use the proceeds of the Offering as anticipated, market volatility, unanticipated costs, changes in applicable regulations, and changes in the Company's business plans. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

SOURCE Quimbaya Gold Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2025/10/c6999.html

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