The Kiyuk Lake Gold Property is located in Nunavut, 50km north of the border with Manitoba and 350km west of Arviat.
Gold mineralization is hosted in Proterozoic sedimentary rocks of the 2.45 to 1.82Ga Hurwitz and Kiyuk groups which unconformably overlie the Archean basement. The continental to shallow marine siliciclastic, carbonates and rare volcanic rocks that make up this succession are thought to represent an intracratonic basin (Aspler et al. 2002). At Kiyuk Lake, the predominantly sedimentary succession represents a structural ‘basin’ that formed as a result of infolding of Proterozoic and Archean rocks during the Trans Hudson Orogen (1.9-1.76 Ga). Faulting and folding of the rocks on the Property are also thought to be related to this event. Proterozoic magmatism in the region occurred in two pulses: 1)monzogranites of the Hudson Suite emplaced within the upper crust and associated rhyolite erupted on the surface from 1765 to 1750ma (van Breeman et al., 2005). It is postulated that this later magmatic event was the driving process responsible for gold mineralization, although the timing of alteration and gold mineralization has not been constrained.
Gold mineralization at Kiyuk Lake is most similar to reduced intrusion related gold (RIRG) or iron-oxide-copper-gold (IOCG) deposit models. Mineralization is associated with pyrrhotite, pyrite, arsenopyrite, and magnetite (+/- hematite). The mineralizing event is accompanied by sodic and calcic alteration which occurs as veins and breccia of albite-carbonate-actinolite-quartz ± scapolite ± tourmaline. In areas of intense alteration the host rock is bleached and lack primary textures. Au element associations include As, Bi, Te, W, Ag, Co, Ni and sporadically U. There is a lack of widespread quartz veining or silicification. At Rusty most of the mineralization is hosted by breccia with albite, carbonate actinolite and pyrrhotite as shown here.
Gold was first discovered in 1991 by prospectors working for Comaplex Minerals which was following up anomalous arsenic in lake sediment samples from a survey conducted by the Geological Survey of Canada in 1976. They found multiple occurrences of gold bearing boulders assaying up to 36.97 g/t Au. The first drilling campaign was completed by Newmont in 2008 and included 14 diamond drill holes totalling 2331.4m. Evolving Gold and more recently Prosperity Goldfields Corp. have conducted three successive core drill programs, the most recent ending in April 2013. Since Newmont, 46 core holes for 9523 m have been completed at seven different showings.
The Rusty target is the most promising zone of mineralization discovered to date. In addition to prospecting and mapping, airborne magnetics and regional and grid till sampling have been completed on the property. Ground magnetics has also been completed over select areas to better define drill targets.
#1. CEXPF Potential Driver Indicator - Signing Of An L.O.I.
Cache Exploration Signs Letter of Intent to Acquire Precious Metals Project in Golden Triangle, British Columbia
March 16, 2021 - TheNewswire - Vancouver, Canada - Cache Exploration Inc. (the "Company" or "Cache") (TSXV:CAY) (OTC:CEXPF) is pleased to announce that the Company has signed a letter of intent ("LOI") to acquire a 100% option on the Marmot Precious Metals Project ("Marmot" the "Property" or the "Project") located in the Golden Triangle British Columbia, Canada and held by Granby Gold Corp ("Granby"), an arms-length private company.
The 4049 hectare Project is located roughly six kilometres from the town of Stewart, British Columbia in the southeast part of a mineral-rich belt of Stikine terrane rocks that lies along the eastern flank of the Coast Mountains. The belt lies between the Iskut and Kitsault-Anyox areas and is centred on the town of Stewart, British Columbia.
Both the Unuk River and Salmon River Members of the Lower to MiddIe Jurassic Hazelton Group are present on the Property. Voluminous resistant volcanic and associated volcaniclastic strata predominate in the area. The youngest volcanic members are bimodal, consisting mainly of basalt and rhyolite. Middle to Upper Jurassic Bowser Lake Group clastic rocks that conformably overlie the Hazelton Group may also be present.
The Eskay Creek mine of Skeena Resources Ltd. (formerly of Barrick Gold Corporation) is an extremely rich and pro-fit-able Au-Ag deposit near the northern end of the belt. The Eskay Creek deposit is interpreted to have formed in an environment transitional between subaqueous hot springs and exhalative volcanogenic massive sulfide (VMS), and the geologic setting for the deposits similar to that of the Property. 'Transitional' Eskay Creek-type deposits are models for exploration on the Property.
Read the full article here.
#2. CEXPF Potential Driver Indicator - LOI To Acquire Gold Mine In Russia
Cache Announces LOI to Acquire historical 1.7MOz Gold Mine in Krasnyarsk, Russia.
Vancouver, British Columbia - TheNewswire - February 3, 2021 - Cache Exploration Inc. (the "Company", or "Cache"), (TSXV:CAY) (OTC:CEXPF), is pleased to announce the execution of a Letter of Intent ("LOI") with the Artemovsky Rudnik Joint-Sto*ck Company to acquire ownership of the previously mined Lysogorskoye Gold Deposit ("Lysogorskoye" or "the Project") located in the southern Krasnoyarsk region, Russia. The Company is preparing to conduct the necessary due diligence on the Project.
Artemovsky Rudnik JSC has 100% interest in the Lysogorskoye Gold Deposit. The shareholders of Artemovsky Rudnik JSC shall be issued shares of Cache Explorations and cash based on the value that both parties agree upon following the due diligence period. The Company has until April 30, 2021 to complete due diligence on the Project and sign a Definitive Agreement, The Definitive Agreement is subject to TSX Venture approval and any other approvals to complete this agreement. Either party may terminate this Letter of Intent with 10 business days following the completion of its due diligence.
Jack Bal, CEO of Cache Exploration Inc. States "We are extremely excited to commence due diligence on the Lysogorskoye Gold Deposit. Cache Exploration has been looking for production opportunities around the world to add shareholder value. We feel Lysogorskoye gives us the ability to become a producer in the near term."
Read the full article here.
#3. CEXPF Potential Driver Indicator - Mining Services Engaged
Cache Engages Discovery Mining Services for Camp Preparation for Kiyuk Lake Drill Program
VANCOUVER, BC, Feb. 9, 2021 /PRNewswire/ - Cache Exploration Inc. (the "Company" or "Cache"), (TSXV: CAY) (US Pinksheet: CEXPF), announces that it has engaged Discovery Mining Services to commence with setting up camp and winter runway at Kiyuk Lake Gold Project to prepare for Cache Exploration's 4,000m plus drill program commencing in early March 2021.
Since 1992, Discovery Mining Services has become the industry's most trusted provider of remote exploration camps. Discovery Mining Services has expertise in expediting, logistical support, environmental clean-up support, equipment rentals, and dangerous goods documentation and packaging expertise for small to large projects, camps of 2 to 200, grassroots programs to advanced exploration.
Jack Bal, CEO of Cache Exploration Inc. States "Cache Exploration is very happy to commence the work program at Kiyuk Lake. Discovery Mining Service is a premier operator in northern Canada and will set up and operate our camp during the drill program."
Read the full article here.
Coverage is officially initiated on CEXPF. When you have a moment, do this to make sure you receive all updates as quickly as possible.