Cascadia International Resources Inc (3) (C-CJ) - News Release
NovaWest and Cascadia plan Raglan diamond drilling
Cascadia International Resources Inc (3) CJ
Shares issued 2,639,547 Jul 29 2003 close $ 0.50
Wednesday July 30 2003 News Release
See NovaWest Resources Inc (C-NVE) News Release
Mr. Patrick O'Brien of NovaWest Resources reports
RAGLAN NI-CU-PGM-CO PROJECT DIAMOND DRILLING TO COMMENCE
NovaWest Resources and its partner Cascadia International Resources plan to commence diamond drilling on the Raglan assemblage the week of Aug. 3, 2003. Gridding and ground geophysics have been carried out over numerous drill targets and a number of drill hole locations have been sited. Drill equipment is now on-site and being positioned.
In other matters, the companies have also identified and located a number of specific areas of interest within the 50-square-kilometre Checkmate portion of the Raglan assemblage, where earlier exploration by others was filed with the Quebec Ministry of Natural Resources in a 1999 report ( Keast, Rheaume, Roy et al). The earlier report notes anomalous surface grab and trench samples including the following.
Total
Pt Pd Cu Co Ni PGM
(ppb) (ppb) (ppm) (ppm) (ppm) (g/t)
278 719 4,790 729 12,774 0.997
944 1,095 1,688 849 15,299 2.039
410 509 7,396 651 11,736 0.919
607 704 5,389 1,337 31,000 1.311
298 187 2,315 554 9,871 0.485
495 989 3,378 973 22,000 1.484
383 809 2,456 533 9,172 1.192
342 768 4,103 515 8,302 1.110
357 901 2,744 273 3,105 1.258
335 945 5,556 282 3,371 1.280
1,003 2,512 26,000 8 109 3.515
509 1,428 7,567 287 4,023 1.937
265 1,286 3,350 255 3,271 1.551
292 1,390 4,573 195 2,674 1.682
77 444 2,010 860 10,400 0.521
249 505 17,978 581 7,678 0.754
510 691 3,718 282 5,049 1.201
466 239 2,424 401 9,542 0.706
58 1,760 3,544 1,456 21,000 2.342
513 739 1,935 187 3,664 1.252
637 1,214 1,431 151 3,830 1.851
210 824 2,989 185 2,924 1.034
343 1,473 5,587 154 1,695 1.816
Historically, work in the area was quite extensive and a number of mineralized areas had been identified. Most of the early work in the area was completed between 1968 and 1987 and three important mineralized sills, the Bravo, Charlie and Echo sills, are known to exist on the property. The highly anomalous base metal and PGM numbers reported are of particular interest as the mineralization appears to be hosted in a variety of host rock types. The PGM values identified would strongly enhance the economic potential of any economically mineralized zone that might be identified. This Checkmate portion of the Novawest/Cascadia Raglan assemblage covers approximately 50 square kilometres or about 8 per cent of the assemblage and has not been explored previously by Novawest/Cascadia.
The 1999 report notes in reference to the Echo Grid: "A few samples were taken this summer with surprising results. Assays show high copper and PGE grades (Table 6 and 7) associated with depleted nickel values. Figure 9 shows that the E-1 zone is characterized by a high content of mobile elements (Cu-Pd) and may represent a remobilized type of mineralization." This mineralization is of interest, as it would appear to indicate the "halo" model whereby Novawest planned to use outcrops depleted in nickel but enriched in anomalous in copper-platinum group metals as pathfinders to identify locations favourable for hosting restite (nickel-rich) orebodies at Raglan. Such halos are known to be in close vicinity to nickel-rich orebodies at Raglan and other sulphide-hosted camps. The Novawest/Cascadia team plans to undertake analysis, sampling and drilling on some of these types of targets within these sills in their 2003 Raglan program.
WARNING: The company relies upon litigation protection for "forward-looking" statements.
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