Cascadia receives exploration permit for Carmacks

Executive Summary

• Cascadia Minerals received a 10‑year Class 4 exploration permit for its 177‑km² Carmacks copper‑gold project in Yukon.
• The company has commenced a fully funded 4,000‑metre diamond‑drill program (13 holes) targeting expansion of the Carmacks Main deposit, with a second drill arriving on Sept. 20.
• The release highlights historic high‑grade intercepts that will be stepped out and reiterates a measured & indicated resource of 651 M lb Cu and 302 k oz Au, supported by a positive 2023 preliminary economic assessment.

Key Details

• Permit: 10‑year Class 4 exploration permit covering extensive drilling and support activities.
• Drill Program: Up to 4,000 m in 13 holes; first skid‑mounted drill already operating at the 147 zone; second drill to start at the 1213 zone on Sept. 20.
• Historical Intercepts for Step‑out:
• Zone 2000: 105.52 m @ 0.96 % Cu, 0.18 g/t Au (hole CRM21‑011)
• Zone 1213: 119.40 m @ 0.76 % Cu, 0.14 g/t Au (hole CRM21‑025)
• Zone 147: 65.35 m @ 0.96 % Cu, 0.32 g/t Au (hole CRM21‑019)
• Resource Summary: Measured & indicated resource of 36.3 Mt grading 0.81 % Cu, 0.26 g/t Au, 3.23 g/t Ag, 0.01 % Mo → 651 M lb Cu and 302 k oz Au (1.07 % Cu‑eq).
• Economic Assessment (2023 PEA):
• Base case ($3.75/lb Cu, $1,800/oz Au) – post‑tax NPV $230.4 M, IRR 29 %.
• Upside case ($4.25/lb Cu, $2,000/oz Au) – post‑tax NPV $330.1 M, IRR 38 %.
• Future Work: Fall 2025 program to drill ~4,000 m across zones 147, 2000S, and 1213; additional targets (e.g., Zone A with historic 25 m @ 2.27 % Cu, 2.20 g/t Au) slated for 2026 drilling.
• Infrastructure: Road‑accessible site, 10 km from grid power, existing 40‑person camp and internal road network.

Notable Quotes

“We’re very pleased to have the first drill turning in our fully funded initial 4,000‑metre drill program… Having a 10‑year exploration permit in hand is a major milestone…” – Graham Downs, President & CEO, Cascadia Minerals Ltd.