cay
posted on
Mar 11, 2010 06:20PM
Focused on exploration and advancement of mineral projects in Peru
Anyone out there know if these are good numbers? I have no idea what these elements even are. I would love to hear some educated thoughts if anyone has any.
CACHE EXPLORATION INC ("CAY-V")
- Acquires Three Rare-Earth Element Prospective Properties
Cache Exploration Inc ("Cache Exploration" or the "Company")
announced the business terms on March 5, 2010 under which two option
agreements to earn a majority interest in three rare-earth element
prospective properties were completed. Subject to regulatory approval,
finders fees of 50,000 common shares of Cache are due to Dehradun
Financial Inc. under the Welsford Option Agreement and finder's fees of
50,000 common shares of Cache are due to Taurus Management under the Cross
Hills and Louill Hills Option Agreement.
WELSFORD RARE EARTH PROPERTY
The Welsford Intrusive Complex is located in southern New Brunswick,
20km north of Saint John. Historic geological mapping and sampling
(Uranernz Exploration for Uranium 1980), with later trenching and drilling
has revealed significant Zr-Nb-Y-REE mineralization hosted within
peralkalic pegmatite-aplite dyke swarms that intrude the Welsford alkaline
granite.
Petrogeochemical studies (Seidler et al., 2005) have verified up to
18,500 ppm Zr, 1,710 ppm Nb, 1,713 ppm Y, 153 ppm U, 446 ppm Th, 1,268 ppm
Ce, and 198 ppm Yb in these dykes, which are concentrations comparable to
those found in the richest heavy REE deposits in the world. In the fall of
2009, Prof. David Lentz, Economic Geology Chair at the University of New
Brunswick, coordinated and oversaw the surficial sampling and analytical
program over the entire property. The results of this B horizon soil
program resulted in highly anomalous values for Lanthanum (La), Cerium (Ce)
and Neodymium (Nd), followed by Samarium (Sm), Europium (Eu), Terbium (Tb),
Ytterbium and Tantalum.
CROSS HILLS RARE EARTH PROPERTY
The Cross Hills REE Property is located northwest of the Town of Grand
Le Pierre, Newfoundland where numerous Zr-Nb-Y(-REE) occurrences can be
found within the peralkaline granite and adjacent host rocks. The property
is intersected by the English Harbour Road (Route 211) and has hydro and
other infrastructure in close proximity. Samples collected in the area by
Tuach Geological Consultants Inc revealed 6,328 g/t Zr and 316 g/t Nb,
which is indicative of significant rare earth potential in the area. The
most significant mineralization within the Cross Hills Plutonic Suite is
the Barks Pond showing, revealing 19,208 g/t Zr, 2,968 g/t Y, 1,860 g/t Nb,
1,550 g/t Ce, 725 g/t Th, and 90 g/t Sn, hosted within small aplite dyklets
and related veins that cut the peralkaline granite.
These analytical values, associated mineralogy, and peralkalic
affinity are similar to those of other very significant REE-Y deposits like
Thor Lake (NWT) and Strange Lake (QC-Labrador). Rockbridge Energy (V.RBE)
is also exploring rare earth prospective property contiguous to the Cross
Hills Rare Earth Property.
LOUILL HILLS RARE EARTH PROPERTY:
The Louill Hills Property is located on an eastern extremity near
Musgravetown, Newfoundland with Bunyans cove to the west, and Clarenville
(a seaport), 30km to the south. Access to the property is via Route 233, a
paved road, which crosses the property and other logging roads and trails
are available for access throughout the claim block. The property has
yielded samples with up to 570 ppm Y and 490 ppm Nb (Miller, 1989), making
it a highly favourable exploration target, relative to other REE targets in
Newfoundland. Cornerstone Resources (1998) have sampled the peralkalic
felsic volcanics along the shoreline, to the SW of Cache Exploration
claims, and have revealed 4,060 ppm Zr, 936 ppm Nb, and 312 ppm Y.
Extensive hematitic staining of the peralkalic rocks is associated with
higher radioactivity (300-400 cps), reflecting significant Zr-Nb-Y
mineralization in the region.
Copper occurrences lie on the eastern portion of the Louill Hills
Property, where historic sampling has shown very significant sulfide
mineralization, e.g., assays with up to 21.1% Cu, 1194 ppb Au, and 3.02
oz/t Ag; alkalic gold-rich porphyry copper deposits with high REE are not
uncommon.
ADDITIONAL INFORMATION
Cache Exploration is a well funded company with a focus on exploring
for Rare Earth Element deposits. The company presently has three advanced
projects in New Brunswick and Newfoundland, all exhibiting excellent
potential for rare earth mineralization and proximity to available
infrastructure. Prof. David Lentz, P.Geo. is a Qualified Person as
described in National Instrument 43-101 and is responsible for the
technical information contained in this news release.