Cascadia, NovaWest release results from Raglan project
2004-08-16 10:58 ET - News Release
See News Release (C-CJ) Cascadia International Resources Inc (3)
Mr. James Evaskevich of Cascadia International reports
CASCADIA ANNOUNCES SIGNIFICANT MINERALIZATION IN RAGLAN NI-CU-PGM-CO PROJECT
Cascadia International Resources Inc. and its joint venture partner NovaWest Resources Inc. have completed 3,501 metres (11,488 feet) of drilling by July 31, 2004, in 21 holes in the Raglan trend in Northern Quebec with mineralized sections up to 50 feet with nickel assays up to 2.89 per cent, copper assays up to 3.99 per cent, and up to 17.3 grams per tonne (g/t) Au+Pt+Pd. An additional 37 holes are planned for the rest of the drilling season with two drilling rigs operational. One rig is testing anomalies on the northern Raglan trend which hosts the deposits of Falconbridge Ltd. to the east and Knight Resources Ltd.'s discovery to the west of Cascadia/NovaWest's claim group. The second rig is drilling potential targets in the south belt which hosts Canadian Royalties' discoveries to the east and the deposit of Falconbridge Ltd. in the lower middle of the Cascadia/NovaWest claim group.
ALS Chemex, of Vancouver, has provided assays of the first 11 holes. Elevated values related to the targeted Ni-Cu-PGE mineralization were reported for eight of these holes. Results are complete for the Bravo area only, with other reports following when ready.
The Bravo area on the south trend in holes NW04-15, and NW04-21 returned the most encouraging initial results of the early 2004 drilling season. Combined with the 2003 results from Bravo (hole NW03-13), Cascadia is very optimistic about these early results. The Bravo area is located 10 kilometres west of the Falconbridge Ltd. Delta deposit (817,000 tonne, 3.05 per cent Ni, 1.26 per cent Cu and 2.6 grams per tonne platinum group elements (PGE)). The texture and composition of the disseminated and massive sulphide mineralization in Bravo hole No. 15 and No. 21 is similar to that found at the Mesamax and Expo deposits being explored by Canadian Royalties Ltd. on the south trend.
In hole NW04-15, a 15-metre-long (50-foot) intersection of disseminated and minor massive sulphides returned Ni values up to 2.89 per cent, Cu assays up to 3.99 per cent, and some very encouraging Pt and Pd assays ranging up to 1.04 g/t Pt and up to 10.65 g/t Pd. The higher values are associated with the massive sulphide parts of the intersection.
In hole NW04-21, disseminated sulphides in an ultramafic rock return elevated Ni-Cu-PGE in two sections, an 8.0-metre (26-foot) length from 23.0 to 31.0 metres and a 15.5-metre (50-foot) length from 53.0 metres to 68.5 metres.
Holes NW04-14, 16, 19 and 22 returned lower, but still encouraging assays all from disseminated sulphides (see table below).
The company follows all industry standards related to analytical work to guarantee reliable and unbiased results.
Dr. Burkhard Dressler, PGeo (Quebec), chief geologist and vice-president exploration, Novawest Resources Inc., is Cascadia's designated qualified person for the preparation of Cascadia's Aug. 16, 2004, press release on which this press release is based.
