Apr 12, 2012 (ACCESSWIRE-TNW via COMTEX) — Pacific Cascade Minerals Inc. (the “Company”) is pleased to report further drill results from its Phase One exploration program on the El Centenario Project, Durango, Mexico. The first phase of exploration has targeted the La Esperanza silver, zinc, and lead mineralized structural zone.
|DRILL HOLE ESP 12-11 |A |A |A |A |A|A |
|A |A |A |A |A |A |A |A |
|A |A |Width |Ag |Ag |Zn |Pb |Cu |
|Drill Hole|Intersection|(meters)|(g/t)|(oz/t) |% |% |% |
|ESP 12-11 |54.00-63.00 |9.00 |148 |4.30 |0.03 |0.009|0.03|
|incl |54.00-58.50 |4.50 |277 |8.10 |0.03 |0.01 |0.07|
|incl |54.00-57.00 |3.00 |402 |11.8 |0.03 |0.01 |0.10|
Note; The estimated True Width of ESP 12-11 intersection is 95%, approximately 8.55 meters
Harold Forzley, President of the Company states, “The Company views hole ESP 12-11 as very significant because it is the most northerly in this phase of drilling and is typical of the intersections seen in drill holes to the south, including mineralized sub-parallel structures and a widening of the system at depth”.
The Company’s geological staff confirms that these drill assay results not only show that the La Esperanza mineralized system extends 200 meters further along a northerly trend but also that mineralization persists higher up in the clay altered portion of the structure. The La Esperanza zone has been traced by soil geochemistry for over 1000 meters and 600 meters by drilling; is open to the north, south and to depth. Compilation of data is continuing and will be released as completed. This data will be the basis for planning the Phase 2 drilling program at the La Esperanza, a program designed to test the 200 meter-deep level and the northerly and southerly extensions of the system.
Results from an additional hole ESP 12-05 has been received with no significant results. ESP 12-05 intersected a post mineral fault that displaced the La Esperanza structure to the west approximately 50 meters and correlates with results from previously reported hole ESP 12-4 that was drilled from the same drill pad.
The Company is currently preparing plans to mobilize surface sampling and diamond drilling on the Santa Margarita gold zone located approximately 3 kilometers east of the La Esperanza zone
All samples on the property are collected by company employees. Each sample is individually sealed in standard plastic sample bags and secured with cable ties. 2-4 samples are then placed in rice bags and secured with cable ties. The samples are transported by Company employees to a bonded carrier (as recommended by Acme Analytical Labs) who transport them to the Acme Analytical prep facility in Guadalajara. The samples remain in Acme Analytical’s possession and they are responsible for secure transport to the Acme Analytical facility in Vancouver B.C. for analysis. For quality control purposes within each drill hole several standards (known analytical results) are randomly placed in the consecutive sample numbers as a double check for the accuracy of the Acme Analytical process.
About the Project
The El Centenario project is situated 15km southwest of the La Cienega mine (owned by Fresnillo PLC) a structurally controlled gold-silver-lead-zinc mineral deposit that has been in production since early?1999. To date, the La Cienega mine has produced more than 2M oz of gold and 50M oz of silver. Additionally, the world-class Metates deposit (27m oz gold equivalent owned by chesapeake gold corporation (tsx-v:CKG) is located 10 km south-southeast of the El Centenario project. The project area encloses a historical, little-explored mining district that was active during the Spanish colonial times. The El Centenario concession block contains dozens of mineral prospects and an abundance of small-scale mine workings. The style of mineralization varies from epithermal, low sulfidation, fracture-filling vein-stock-work breccia systems to skarn and sediment-hosted enriched disseminated zones. The Company has entered into an agreement to earn a 70% interest from Arcelia Gold Corp, a private company
Technical information in this news release has been reviewed by Derrick Strickland, P.Geo., a qualified person as defined in NI 43-101.
The Company also announced that it has retained the services of COR Ventures Inc. for investor relations activities. The contract is for a six month term for $7,500 per month, plus a one-time payment of $5,000. The Company has agreed to grant to Clodagh O’Rafferty, the principal of COR Ventures Inc., stock options to purchase up to 500,000 common shares of the Company at an exercise price of $0.10 for a period of five years, vesting over 12 months.
For further information regarding Pacific Cascade Minerals Inc. and the El Centenario project please visit the Company’s website at www.pacificcascade.ca .
On behalf of the Board of Directors
President/CEO? Pacific Cascade Minerals Inc.
For more information contact Daniel Whittle, Investor Relations at: Telephone: (604) 637-1341 or e-mail [email protected]
Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain of the statements made and information contained herein may contain forward- looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company’s intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information