Cascada Acquires the Golden Lake Property in Southern Chile
Toronto, Ontario, October 19, 2022 – Cascada Silver Corp. (CSE:CSS) ("Cascada") is pleased to announce that it has staked the Golden Lake Property (the “Property”) located 1,350 kilometers south of Santiago in Chile’s Region XI. The Property, located adjacent to the western border of concessions owned by Minera Newmont Chile Ltda (see attached location map), overlies a portion of the Pollux Gold District which hosts of series of eroded gold-silver bearing veins identified by Homestake Chile SA (“Homestake”) in the early 1990’s.
“With the international community more receptive to investment in Chile now that the recent constitutional election suggests a more business friendly environment, we have ratcheted up our review of potential acquisitions and have a short-list of projects where we are in continued discussions”, said Carl Hansen, CEO of Cascada.
“The Golden Lake Property represented an interesting opportunity to acquire open ground in the Pollux Gold District which has seen renewed exploration interest. The Property covers prospective ground approximately 200 metres higher than the adjacent eastern concessions which hosts the main trend of epithermal veins. Our goal is to discover epithermal veins at the higher elevations which have been subject to less erosion and, therefore, may retain higher grade bonanza-style gold and silver mineralization. Preliminary prospecting, mapping and sampling will begin on the Golden Lake Property within the next few weeks.”
The Pollux Gold District was initially explored by Homestake who reportedly undertook geophysical surveys, collected 2,300 surface samples and completed 32 drill holes outlining two north-east trending, low-sulphidation vein systems. Homestake stopped work on the Pollux concession in 1993 to focus on the company’s Volcan discovery in Chile’s Region III. From 1994 through 1998, Aur Resources Chile Ltda. explored the vein systems, reportedly drilling 11 holes. In the early 2000’s, privately-held Patagonia Gold, completely 2,000 metres of reverse circulation drilling. Results are unknown.
43-101 Technical Disclosure
The Qualified Person, as defined by National Instrument 43-101 of the Canadian Securities Administrators, for Cascada’s exploration activities in Chile is Sergio Diaz, a resident of Santiago, Chile. Mr. Diaz is a Public Registered Person for Reserves and Resources N° 51, in Chile and is also registered in the Colegio de Geólogos de Chile under N° 315.
About Cascada Silver Corp.
Cascada is a Latin America-focused mineral exploration company. Cascada's team of successful exploration professionals is dedicated to the discovery of mineral deposits that can be progressed into economically viable development projects creating value for all stakeholders.
On behalf of Cascada Silver Corp.,
Carl Hansen, CEO
For additional information, please contact us at info@cascadasilver.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to: plans for the evaluation of exploration properties; the success of evaluation plans; the success of exploration activities; mine development prospects; and, potential for future metals production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: changes in economic parameters and assumptions; all aspects related to the timing of exploration activities and receipt of exploration results; the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; the results of regulatory and permitting processes; future metals price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of economic and technical studies; delays in obtaining governmental approvals or financing or in the completion of exploration; as well as those factors disclosed in Cascada's publicly filed documents.
Although Cascada has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking 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.
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