Cascadia plans exploration at Carmacks project

Executive Summary

• Cascadia Minerals Ltd. announced its 2026 exploration plan for the wholly owned Carmacks copper-gold project in the Yukon, outlining a significant 15,000-meter diamond drilling program.
• The program is the largest at the property since 2007 and focuses on testing the expansion of sulphide mineralization at the main Carmacks deposit (Zones 147, 2000S, and 1213) as well as exploring three new targets: Zone 14, the Gap zone, and the Sourtoe target.
• Additional drilling is planned for Zone A, located 11 km north of the main deposit, alongside geophysical surveys to identify further targets across the 180-square-kilometre property.

Key Details

• Drilling Scope: 15,000 metres of diamond drilling planned for the 2026 season.
• Main Deposit Expansion (Sulphide Testing):
  • Zone 147: Testing stepouts from CD-25-033 (83.52 m @ 0.89% Cu, 0.26 g/t Au, including 26.33 m @ 1.53% Cu, 0.35 g/t Au).
  • Zone 2000S: Testing stepouts from CD-25-040 (87.44 m @ 0.63% Cu, 0.15 g/t Au, including 21.27 m @ 1.25% Cu, 0.28 g/t Au).
  • Zone 1213: Testing stepouts from CD-25-035 (60.12 m @ 0.84% Cu, 0.16 g/t Au, including 25.20 m @ 1.36% Cu, 0.25 g/t Au).
• New Target Drilling:
  • Zone 14: Located 400 m east of the main deposit; historical 2007 drilling returned 16.37 m @ 1.04% Cu. Target remains open in all directions.
  • Gap Zone: Located between Zones 147 and 2000S; 2024 drilling returned 29.75 m @ 0.50% Cu. Follow-up drilling will test along strike and dip.
  • Sourtoe Target: Located 250 m west of Zone 14; strong IP/magnetic anomaly indicative of parallel mineralization. First-time drill testing planned.
• Zone A Drilling: Located 11 km north of the deposit; historical 1980 drilling returned high-grade intervals (e.g., 22.86 m @ 2.27% Cu, 2.20 g/t Au). 2026 drilling aims to comprehensively evaluate this target.
• Geophysics: Additional Induced Polarization (IP) and magnetic surveys to identify targets near-deposit and regionally.
• Operational Status: Key contracts and permits are in place; crews scheduled to mobilize in late April 2026.
• Economic Context: 2023 Preliminary Economic Assessment (PEA) showed positive economics:
  • Base case ($3.75/lb Cu, $1,800/oz Au): $230.4M post-tax NPV (5%), 29% post-tax IRR.
  • Alternative case ($4.25/lb Cu, $2,000/oz Au): $330.1M post-tax NPV (5%), 38% post-tax IRR.
• Resource Estimates:
  • Measured & Indicated: 36.3 Mt @ 0.81% Cu, 0.26 g/t Au (651 Mlb Cu, 302,000 oz Au).
  • Inferred: 2.9 Mt @ 0.60% Cu, 0.16 g/t Au (38 Mlb Cu, 13,000 oz Au).
• Conference Activity: Company exhibiting at PDAC 2026 (Toronto, March 1-4) in the Core Shack (Booth 3106A) and corporate booth (3126).

Notable Quotes

• "We are excited to begin the largest diamond drill program at the Carmacks deposit in almost two decades," said Graham Downs, president and chief executive officer of Cascadia. "Key contracts and permits are in place and crews are slated to mobilize to site in late April. Continued review of historical data is highlighting numerous untested opportunities both proximal to the existing resource and regionally across the property. Work is also under way to initiate baseline environmental, engineering and metallurgical studies to support future updated economic analysis."