(MENAFN - Newsfile Corp) Cascada Silver Updates Agua Amarga Exploration Activities
Toronto, Ontario--(Newsfile Corp. - April 29, 2021) - Cascada Silver Corp. (CSE: CSS) (" Cascada ") is pleased to provide an update on its ongoing exploration activities at its Agua Amarga silver project located in Chile's Atacama Region, 30 kilometres south of Vallenar and 5 kilometres east of the Pan American Highway. High grade silver veins were discovered at Agua Amarga in 1811 with mining activities reported until 1881. Reports from 1812 noted silver grades from 86 veins varied from 3,078 to 41,035 grams per tonne.
The geological mapping program has outlined the mined remnants of 105 epithermal silver veins extending over strike lengths of up to 500 metres with widths of up to 2 metres. Eight drill holes, with lengths varying from 175 to 250 metres, are planned to test the silver vein systems at depths between 100 and 175 metres below surface. The depth of the historical mining is not recorded and the poor ground conditions do not allow for a direct examination of the underground workings; however, it is suspected that mining extended to depths of up to 50 metres below surface.
"We are quite eager to advance Agua Amarga to the drilling stage with plans being made to mobilize a drill rig to the site during the month of May," said Carl Hansen, CEO of Cascada. "Definitive drill targets have been identified with drilling to focus on the wider and more laterally extensive vein systems. While we had anticipated commencing drilling in April, Chilean Covid-19 protocols have slowed exploration activities throughout the country."
The remnant veins are hosted within a 250 to 300 metre thick limestone sequence with vein emplacement controlled by north and north-northeast trending, steeply dipping fault structures. The faults occur within the limestone as well as at the contact between intrusive porphyritic andesites and the limestone unit.
NI 43-101 Technical Disclosure
The Qualified Person, as defined by National Instrument 43-101 of the Canadian Securities Administrators, for Cascada's exploration activities in Chile is Sergio Diaz, a resident of Santiago, Chile. Mr. Diaz is a Public Registered Person for Reserves and Resources N° 51, in Chile and is also registered in the Colegio de Geólogos de Chile under N° 315.
About Cascada Silver Corp.
Cascada is a mineral exploration company focused on silver and gold exploration in Latin America with four properties under option in Chile, including the historic Agua Amarga silver project where high-grade epithermal silver-bearing veins were mined during the 19th century. Cascada's team of successful exploration professionals are dedicated to the discovery of mineral deposits that can be progressed into economically viable development projects creating value for all stakeholders.
On behalf of Cascada Silver Corp.,
Carl Hansen, CEO
For additional information, please contact us at:
Mars Investor Relations
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to: plans for the evaluation of exploration properties; the success of evaluation plans; the success of exploration activities; mine development prospects; and, potential for future metals production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: changes in economic parameters and assumptions; all aspects related to the timing of exploration activities and receipt of exploration results; the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; the results of regulatory and permitting processes; future metals price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of economic and technical studies; delays in obtaining governmental approvals or financing or in the completion of exploration; as well as those factors disclosed in Cascada's publicly filed documents.
Although Cascada has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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