Cascada Signs MOUs to Acquire Three Advanced Copper-Gold Porphyry Properties in Chile
Executive Summary
- Cascada Silver Corp. signed non‑binding MOUs to acquire three advanced copper‑gold porphyry properties in Chile’s Totora Cu/Au Porphyry Cluster.
- The agreements outline option payments totaling US$32.5 M (US$10 M for Frontera, US$4 M for Clinton, US$18.5 M for Taruca) and grant Cascada up to a 40 % interest in Taruca after $10 M is paid.
- Historical resources/drill intercepts indicate significant copper‑gold mineralization (e.g., Frontera: 16 Mt indicated at 0.66 % CuEq; Clinton: 166 m @ 0.62 % CuEq; Totowa: multiple intervals >0.6 % CuEq).
Key Details
- Properties Acquired
- Frontera – 11‑ha concession, historic resource of 16 Mt indicated (0.66 % CuEq) and 34 Mt inferred (0.64 % CuEq).
- Option payment schedule: $50k signing → $5.45 M final (7th yr); total $10 M; CPI‑adjusted after year 5; no royalties.
- Clinton – 300‑ha concession, historic drill highlights (e.g., RCCL‑01: 166 m @ 0.63 % CuEq).
- Option payment schedule: $50k signing → $2.85 M final (4th yr); total $4 M; up to 50 % of years 3‑4 payments may be in Cascada common shares; 1.5 % net smelter royalty to vendor; right of first refusal on NSR sale.
-
Taruca – 1,300‑ha concession with multiple porphyry targets (Totowa, Algarrobilla). Historic drilling includes intervals up to 0.97 % CuEq.
- Option payment schedule: $150k signing → $4.25 M final (7th yr); total $18.5 M; after $10 M Cascada earns 40 % interest; required drilling commitments of 4,000 m in years 1‑2 and another 4,000 m in years 3‑4; no royalties.
-
Historical Drill Intercepts (selected)
- Frontera: 142 m @ 0.69 % CuEq (DDHTP‑02); 114 m @ 0.61 % CuEq (DDHTO‑07).
- Clinton: 166 m @ 0.62 % CuEq (RCCL‑01); 278 m @ 0.61 % CuEq (DDHCL‑06).
- Totowa (Taruca): 214‑356 m @ 0.69 % CuEq (DDHTO‑02); 0‑114 m @ 0.61 % CuEq (DDHTO‑07).
-
Algarrobilla: 8 m @ 1.64 % Cu, 0.39 g/t Au (DDHCL‑13).
-
CuEq Calculation Methodology – Copper price $4.00/lb; gold price $3,500/oz ($112.53/g); no recovery factors applied.
-
Strategic Rationale – Consolidates Cascada’s position in a prospective Chilean copper‑gold belt, targeting a multi‑deposit camp with >250 Mt of economically viable resources.
-
Qualified Person – Francisco Bravo (Public Registered Person for Reserves and Resources N° 515, Chile).
Notable Quotes
“After an exhaustive review process, we are very pleased to announce that we have entered into agreements to acquire three advanced properties which host significant porphyry‑related copper‑gold mineralization,” – Carl Hansen, CEO, Cascada Silver Corp.
All forward‑looking statements are subject to risks and uncertainties as described in the release.