British Columbia's Golden Triangle has grabbed most of the mining exploration attention this summer, but geology doesn't fall into neat geometric shapes. Casa Minerals Inc. (CASA:TSX.V) is exploring three gold, silver and copper projects in British Columbia that fall outside the Golden Triangle. The company just announced the discovery of a network of polymetallic mineralized veins in the Golden Dragon prospect of its Pitman property.
The Pitman project is located about 20 kilometers north of Terrace and around 10 kilometers from Casa's Keaper property. Pitman's five contiguous mineral tenures cover 4,255 hectares. The project includes several historical prospects, including the Pitman copper-molybdenum-silver prospect and the Gold Dome and Paddy Mac gold-base metal prospects. Some parts of the property have only recently become accessible as a result of the retreat of glaciers and permanent snowfields.
The Golden Dragon veining network, the company noted, was "discovered by Casa's field crew that was prospecting and sampling in the area of the historic Paddy Mac and Gold Dome gold prospects. The system includes multi-level semi-parallel veins of apparent east-west attitude that have been traced intermittently over an approximate distance of 500 meters."
Initial rock samples released by Casa Minerals include:
- Rock chip sample A0007218, from a 2 foot wide vein returned assays of 574.42 g/t gold and 109 g/t silver plus 0.1% copper, 1.56% lead and 0.23% zinc.
- Rock chip sample A0007221, from a 3 foot wide vein assayed 268.86 g/t gold and 127 g/t silver plus 0.2% copper, 2.95% lead and 0.04% zinc.
- Rock chip sample A0007219, from a 1 foot wide vein assayed 50.83 g/t gold, trace copper, 0.21% lead and 0.02 % zinc.
The company noted that it is continuing with geologic mapping, prospecting and soil sampling "in order to better understand the geology and mineralization of all parts of the Pitman property." It also plans to conduct an airborne geophysical survey.
At the end of September, Casa released rock and soil analyses from the company's 100%-owned silver-copper-lead-zinc Keaper project, located about 20 kilometers northeast of Terrace, B.C. The rock and geochemical surveys returned values as high as 1,152 g/t silver, 13.9% zinc and 1.19% copper.
Casa Minerals noted that the fieldwork at Keaper has confirmed and extended the Nelson prospect. It has also identified a new prospect, Lucky Crew.
The company also announced that it has received a drill permit for the project.
The Keaper project itself was identified in 2008 by British Columbia Geological Survey geologists; it was a greenfield discovery. The project is located in the Stikinia Terrane, the formation that hosts many of the Golden Triangle projects.
"One sample that the British Columbia government tested in 2008 returned assays of 2,232 g/t silver, 1.12% copper, 1.28% lead and 10.94% zinc," Casa President and CEO Farshad Shirvani told Streetwise Reports.
The company has held claims on the Keaper property since 2008; it now controls 3,602 hectares.
Casa Minerals is helmed by an experienced team. Farshad Shirvani, founder, president and CEO of Casa has over 22 years of experience in mineral exploration. He is the president of Doubleview Capital Corp. and Terracad Geoscience Services Ltd. and has served as a member of the board of directors of several junior mining companies, including Barkerville Gold Mines Ltd. (BGM-TSXV) for more than seven years.
Erik Ostensoe, P.Geo, is a director and chief geologist. He has 50+ years of experience in mineral exploration in British Columbia and elsewhere, including the discovery of the Hat gold-copper porphyry deposit, early-stage work at the Valley of Kings and KSM areas, the Schaft Creek copper-molybdenum deposit of Copper Fox and Teck, and the Chu molybdenum deposit near Vanderhoof, B.C.
Casa went public in December 2017 and has 36 million shares issued and outstanding, of which around 90% are closely held. The company's market cap is approximately CA$6.15 million.[NLINSERT]
1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Casa Minerals. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Casa Minerals, a company mentioned in this article.