Mar 01, 2012 (ACCESSWIRE-TNW via COMTEX) — Pacific Cascade Minerals Inc. (the Company) is pleased to report the first 3 drill holes of the 12 hole Phase 1 drill program on the La Esperanza silver zone, El Centenario Property, Durango, Mexico. The Phase 1 program has tested 625 meters of strike length and the La Esperanza zone remains open to the north, south, and to depth. The 3 drill holes ESP 12-1,2,3 are summarized as to location, azimuth, and dip on the table below.
The initial program on the La Esperanza silver zone was designed to test for mineralization at the 50 meter and 100 meter level below the surface samples previously reported. Drill holes ESP 12-1,2,3 were drilled from the same drill setup.
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|Drill Hole|East |North |Azimuth|Dip|
|————————————-|
|ESP-12-01 |348253|2756351|1150 |-60|
|————————————-|
|ESP-12-02 |348253|2756351|700 |-60|
|————————————-|
|ESP-12-03 |348253|2756351|700 |-80|
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ESP 12-01 intersected 2 zones of mineralization summarized in the following table:
ESP 12-01 Drill Hole Summary
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|Intersections |Width |Ag |Pb % |Zn % |
|————————————————————-|
|32-50 meters |18 meters (59 |41.4 ppm (1.45|624 ppm|2491 ppm|
| |feet) |ozs) |(0.06%)|(0.248%)|
|————————————————————-|
|126-134 meters|8 meters (26.2|A |604 ppm|2607 ppm|
| |feet) | |(0.06%)|(0.260%)|
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ESP 12-02 was drilled on an azimuth of 070 degrees with a -60 dip and was designed to intersect the La Esperanza silver base metal structure as sampled on surface. ESP 12-02 intersected silver and base metal mineralization over a 12.8 (42 feet) meter interval. It must be noted that the intersection has widened at depth from the surface sampling and represents sub-parallel mineralized structures previously not recognized or sampled.
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|Intersections|Width |Ag |Pb % |Zn % |
|——————————————————————|
|32-44 meters |12.0 meters|143.8 ppm(5.07|4335 ppm(.43%)|12765 |
| |(39.4 |ozs) | |ppm(1.28%)|
| |feet) | | | |
|——————————————————————|
|32-41.85 |9.5 meters |164.7 |5119 ppm(.51%)|14499 |
|meters |(32 |ppm(5.81ozs) | |ppm(1.45%)|
| |feet) | | | |
|——————————————————————|
|38-43 meters |5.0 meters |310 ppm(10.94 |9145 ppm(.91%)|26166 |
| | |ozs) | |ppm(2.61%)|
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ESP 12-02 Drill Hole Summary
ESP 12-03 was drilled underneath ESP 12-02 to intersect mineralization 50 meters below the intersection in ESP12-02 at the 100 meter level. Drill hole ESP 12-03 ended at 93 meters in depth 27 meters short of its target depth.
Esp12-03 intersected a sub-parallel mineralized structure on the hanging wall of the La Esperanza structure.
ESP 12-03 Drill hole Summary
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|Intersections |Width |Ag |Pb |Zn |
|————————————————————–|
|42-46.2 meters|4.2 |141ppm(4.97|463 4 |17415.9 |
| |meters(13.8 |ozs) |ppm(.46%)|ppm(1.74%)|
| |feet) | | | |
|————————————————————–|
|43.5-46.2 |2.7 meters(8.8|185 ppm(6.5|581 6 |243333 |
|meters |feet) |ozs) |ppm(.56%)|ppm(2.43%)|
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The company is very pleased with the initial results of drilling as it confirms mineralization continues below the surface sampling and that multiple sub-parallel mineralized structures were intersected displaying a mineralized zone that widens at depth.
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 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.
Technical information in this news release has been reviewed by Derrick Strickland, P.Geo., a qualified person as defined in NI 43-101.
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
“Harold Forzley”
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.
