Cascadia Drills 83.52 m of 0.89% Copper with 0.26 g/t Gold at the Carmacks Copper-Gold Project, Yukon
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Cascadia Minerals announced initial assay results from the first three of eleven diamond drill holes from its inaugural drill program at the recently acquired Carmacks Copper-Gold Project in Yukon. The results confirm the continuity of mineralization and show potential for resource expansion.
Key intercepts include: - CD-25-033: 83.52 meters of 0.89% copper (Cu) and 0.26 grams per tonne (g/t) gold (Au). - CD-25-031: 70.84 meters of 0.95% Cu and 0.23 g/t Au. - CD-25-030: 73.82 meters of 0.48% Cu and 0.17 g/t Au.
The CEO, Graham Downs, expressed excitement, noting the results underscore the potential to expand the existing Carmacks resource base. Assays for the remaining eight holes are pending.
The news is materially positive. This is the first set of drill results since Cascadia acquired the Carmacks project in August 2025, and they serve as a crucial validation of the acquisition thesis. The company's strategy was to acquire an advanced-stage asset and focus on resource expansion, which this news directly supports.
- Confirmation of Thesis: The results confirm the continuity of copper-gold mineralization with grades comparable to or better than the existing resource grade (0.81% Cu, 0.26 g/t Au). This is a significant de-risking event for the project under Cascadia's ownership.
- Execution on Promises: Management has executed flawlessly on its stated timeline. After closing the acquisition in mid-August and a C$3.0M financing on August 15, they mobilized crews on September 9, received permits on September 17, completed the 3,848-meter drill program by October 16, and have now delivered strong initial results by early November. This rapid and successful execution builds management credibility.
- Alignment with Expectations: The October 16 news release stated that 10 of the 11 holes had intersected visible sulphide mineralization, setting a high bar for expectations. These first three assays confirm that the visible mineralization carries economic grades, meeting the market's anticipation.
- Financial Context: The company raised C$3.0M at C$0.23 specifically for this drill program. These positive results help justify that financing and will be critical for attracting capital for the planned 2026 exploration programs.
From a critical perspective, it is important to note that these are only three of eleven holes, and true widths are estimated at 60-70% of drilled intervals. However, as the first tangible exploration data post-acquisition, the impact is undeniably positive and sets a strong precedent for the remaining assays.
Cascadia Minerals Ltd. is a Canadian junior exploration company focused on copper and gold projects in the Yukon. Following its acquisition of Granite Creek Copper Ltd. in August 2025, its flagship asset is now the 100%-owned, road-accessible Carmacks Copper-Gold Project.
The Carmacks project hosts a significant existing resource (36.3 Mt M&I grading 0.81% Cu, 0.26 g/t Au) and a 2023 Preliminary Economic Assessment (PEA) showing a post-tax NPV(5%) of US$230.4M. The company's immediate strategy is to expand this known resource, as mineralization remains open along strike and at depth. Cascadia also holds a portfolio of earlier-stage exploration projects, including the Catch, Macks, and Milner properties. The properties are subject to various royalties as detailed in financial statements.