{"id":401759,"date":"2020-12-17T08:03:40","date_gmt":"2020-12-17T13:03:40","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=401759"},"modified":"2020-12-17T08:03:40","modified_gmt":"2020-12-17T13:03:40","slug":"cache-exploration-to-commence-drill-program-at-kiyuk-lake-gold-project-in-february-2021","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cache-exploration-to-commence-drill-program-at-kiyuk-lake-gold-project-in-february-2021\/","title":{"rendered":"Cache Exploration to Commence Drill Program at Kiyuk Lake Gold Project in February 2021"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">VANCOUVER, BC<\/span>, <span class=\"xn-chron\">Dec. 17, 2020<\/span> \/PRNewswire\/ &#8211; <b>Cache Exploration Inc.<\/b>\u00a0(the &#8220;Company&#8221; or &#8220;Cache&#8221;) (TSXV: CAY) (OTC Pinksheet: CEXPF) is pleased to announce plans for winter drilling at the Kiyuk Lake gold project, Nunavut.\u00a0 Drilling is set to start in late <span class=\"xn-chron\">February 2021<\/span> and will include up to <span class=\"xn-money\">4,000m<\/span> of core drilling focused on expanding gold mineralization discovered at the Rusty and Gold Point zones as well as the new discovery East Gold Point.\u00a0 This will be the first drill program at Kiyuk Lake since the successful 2017 drill program.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1388063\/Cache_Exploration_Inc__Cache_Exploration_to_Commence_Drill_Progr.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1388063\/Cache_Exploration_Inc__Cache_Exploration_to_Commence_Drill_Progr.jpg\" title=\"Cache Exploration Inc. Logo (CNW Group\/Cache Exploration Inc.)\" alt=\"Cache Exploration Inc. Logo (CNW Group\/Cache Exploration Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>&#8220;The 2017 drill program at Kiyuk Lake was very successful. &#8221; stated Cache&#8217;s President and CEO <span class=\"xn-person\">Jack Bal<\/span>. &#8220;The discovery of high grade gold at the Rusty Zone and new gold discoveries elsewhere on the project proved the exploration concept. We now look forward to getting back to drilling, following up on those discoveries and making new discoveries in 2021&#8221;.\u00a0 <\/p>\n<p>\n        <b>Rusty Zone<br \/><\/b>Drilling at the Rusty zone will be focused on offsetting the high-grade gold intercepts in 2017 and expanding the disseminated gold mineralization at depth and at surface to the south and east.\u00a0 Drilling in 2013 and 2017 demonstrated strong continuity of breccia-hosted gold mineralization within the Rusty zone.\u00a0 <\/p>\n<p>Highlights from previous drilling at Rusty include:<\/p>\n<ul type=\"disc\">\n<li>\n          <span class=\"xn-money\">8.0m<\/span> at 26.4 g\/t Au from <span class=\"xn-money\">108m<\/span><\/li>\n<li>\n          <span class=\"xn-money\">52.4 m<\/span> at 3.2 g\/t Au from surface <\/li>\n<li>\n          <span class=\"xn-money\">35.9 m<\/span> at 4.9 g\/t Au from <span class=\"xn-money\">134.1 m<\/span><\/li>\n<li>\n          <span class=\"xn-money\">61.5 m<\/span> at 3.3 g\/t Au from <span class=\"xn-money\">159 m<\/span><\/li>\n<li>\n          <span class=\"xn-money\">122.0m<\/span> at 1.8 g\/t Au from <span class=\"xn-money\">188m<\/span><\/li>\n<\/ul>\n<p>\n        <b>Gold Point Zone &amp; East Gold Point Discovery<br \/><\/b>The Gold Point zone is a high priority target located in a 24 kilometre magnetic anomaly coinciding with a polymictic conglomerate that will receive further drilling in this program.\u00a0 Ground magnetics, prospecting and mapping in 2012 and 2013 identified a possible extension of Gold Point mineralization by the discovery of similar mineralization, in boulders, in the polymictic conglomerate that hosts the Gold Point zone. These extensional zones &#8211; South Gold Point and East Gold Point respectively &#8211; were further defined by ground magnetics as zones of magnetite destruction coincident with east-west structures, which are identical to those found at the Gold Point zone.\u00a0 Drilling in 2017 resulted in a new discovery at East Gold Point. Drilling in 2021 will focus on expanding East Gold Point and discovery drilling at South Gold Point in addition to the expansion drilling at Gold Point.\u00a0 <\/p>\n<p>Previous drilling at the Gold Point zone returned:<\/p>\n<ul type=\"disc\">\n<li>\n          <span class=\"xn-money\">63.6 m<\/span> at 2.84 g\/t Au from <span class=\"xn-money\">148 m<\/span><\/li>\n<li>\n          <span class=\"xn-money\">12 m<\/span> at 2.4 g\/t Au from <span class=\"xn-money\">120 m<\/span><\/li>\n<li>\n          <span class=\"xn-money\">12 m<\/span> at 3.9 g\/t Au from <span class=\"xn-money\">163.5 m<\/span><\/li>\n<\/ul>\n<p>East Gold Point, is located <span class=\"xn-money\">700m<\/span> to the east of the Gold Point zone. This previously untested target was defined by coincidence of magnetite destructive features observed in ground magnetic data and the presence of mineralized boulders on surface. East Gold Point represents a &#8216;proof of concept&#8217; new discovery that confirms the prospective potential of structures that cross cut the polymictic conglomerate unit. Success in intercepting significant gold mineralization in the first drill hole to target the northern most extent of this structure is a positive result for further development of gold mineralization models at the Kiyuk Lake project. The strike length of the magnetite destructive features is yet to be determined and will require further ground magnetic surveying to define and constrain their extent.<\/p>\n<p>Drilling at the East Gold Point returned:<\/p>\n<ul type=\"disc\">\n<li>\n          <span class=\"xn-money\">64.0 m<\/span> at 1.46 g\/t Au from <span class=\"xn-money\">35 m<\/span><\/li>\n<li>\n          <span class=\"xn-money\">10 m<\/span> at 6.5 g\/t Au from <span class=\"xn-money\">248 m<\/span><\/li>\n<\/ul>\n<p>\n        <b>Claim Status and Permitting<br \/><\/b>The Kiyuk Lake project is fully permitted for drilling with a Land Use Permit for exploration activities until 2024 and Water Licence supporting camp and drilling activities until 2022.\u00a0 <\/p>\n<p>In 2019, a survey of 25 mineral claims was completed to convert the minerals claims to mineral leases. 28 mineral leases are now held by Cache with only annual rent payments required with no minimum work commitment. <\/p>\n<p>\n        <b>About Cache Exploration<br \/><\/b>Cache Exploration is focused on its Kiyuk Lake gold project in <span class=\"xn-location\">Nunavut<\/span>. Kiyuk Lake is a true district play in a new gold camp, covering a majority proportion of the Proterozoic Kiyuk Basin. The property has seen 13,500 meters of drilling in 4 drill programs from 2008-2017.\u00a0 Gold Showings occur over 15 Km in the basin. Drilling has discovered multiple gold intercepts over 1 g\/t Au in five discrete mineralized zones Rusty, Gold Point, East Gold Point, Cobalt and Amundsen. Significant expansion possible with five new target areas identified and ready for drilling. Exploration at Kiyuk Lake takes place in winter-spring (February \u2013 May) and summer-fall (June-October).<\/p>\n<p>\n        <b>Qualified Person<br \/><\/b><br \/>\n        <span class=\"xn-person\">Chris Pennimpede<\/span>, P. Geo., is a Qualified Person as\u00a0defined by National Instrument 43-101, has reviewed and verified the technical mining information provided in\u00a0this release.<\/p>\n<p>For more information about Cache Exploration, please visit: <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3016534-1&amp;h=3346422333&amp;u=http%3A%2F%2Fwww.cacheexploration.com%2F&amp;a=http%3A%2F%2Fwww.cacheexploration.com%2F\" rel=\"nofollow noopener noreferrer\">http:\/\/www.cacheexploration.com\/<\/a><\/u><\/p>\n<p>On behalf of the Board of Directors.<br \/><b>Cache Exploration Inc. <br \/><\/b>s\/<span class=\"xn-person\">Jack Bal<\/span><\/p>\n<p>\n        <span class=\"xn-person\">Jack Bal<\/span>,<br \/>Chief Executive Officer<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=VA27626&amp;sd=2020-12-17\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/cache-exploration-to-commence-drill-program-at-kiyuk-lake-gold-project-in-february-2021-301194987.html\">http:\/\/www.prnewswire.com\/news-releases\/cache-exploration-to-commence-drill-program-at-kiyuk-lake-gold-project-in-february-2021-301194987.html<\/a><\/p>\n<p>SOURCE  Cache Exploration Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=VA27626&amp;Transmission_Id=202012170800PR_NEWS_USPR_____VA27626&amp;DateId=20201217\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire VANCOUVER, BC, Dec. 17, 2020 \/PRNewswire\/ &#8211; Cache Exploration Inc.\u00a0(the &#8220;Company&#8221; or &#8220;Cache&#8221;) (TSXV: CAY) (OTC Pinksheet: CEXPF) is pleased to announce plans for winter drilling at the Kiyuk Lake gold project, Nunavut.\u00a0 Drilling is set to start in late February 2021 and will include up to 4,000m of core drilling focused on expanding gold mineralization discovered at the Rusty and Gold Point zones as well as the new discovery East Gold Point.\u00a0 This will be the first drill program at Kiyuk Lake since the successful 2017 drill program. &#8220;The 2017 drill program at Kiyuk Lake was very successful. &#8221; stated Cache&#8217;s President and CEO Jack Bal. &#8220;The discovery of high grade gold at the Rusty Zone and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cache-exploration-to-commence-drill-program-at-kiyuk-lake-gold-project-in-february-2021\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Cache Exploration to Commence Drill Program at Kiyuk Lake Gold Project in February 2021&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-401759","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/cache-exploration-to-commence-drill-program-at-kiyuk-lake-gold-project-in-february-2021\/","og_locale":"en_US","og_type":"article","og_title":"Cache Exploration to Commence Drill Program at Kiyuk Lake Gold Project in February 2021 - Market Newsdesk","og_description":"PR Newswire VANCOUVER, BC, Dec. 17, 2020 \/PRNewswire\/ &#8211; Cache Exploration Inc.\u00a0(the &#8220;Company&#8221; or &#8220;Cache&#8221;) (TSXV: CAY) (OTC Pinksheet: CEXPF) is pleased to announce plans for winter drilling at the Kiyuk Lake gold project, Nunavut.\u00a0 Drilling is set to start in late February 2021 and will include up to 4,000m of core drilling focused on expanding gold mineralization discovered at the Rusty and Gold Point zones as well as the new discovery East Gold Point.\u00a0 This will be the first drill program at Kiyuk Lake since the successful 2017 drill program. &#8220;The 2017 drill program at Kiyuk Lake was very successful. &#8221; stated Cache&#8217;s President and CEO Jack Bal. &#8220;The discovery of high grade gold at the Rusty Zone and &hellip; Continue reading \"Cache Exploration to Commence Drill Program at Kiyuk Lake Gold Project in February 2021\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/cache-exploration-to-commence-drill-program-at-kiyuk-lake-gold-project-in-february-2021\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-17T13:03:40+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1388063\/Cache_Exploration_Inc__Cache_Exploration_to_Commence_Drill_Progr.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cache-exploration-to-commence-drill-program-at-kiyuk-lake-gold-project-in-february-2021\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cache-exploration-to-commence-drill-program-at-kiyuk-lake-gold-project-in-february-2021\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Cache Exploration to Commence Drill Program at Kiyuk Lake Gold Project in February 2021","datePublished":"2020-12-17T13:03:40+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cache-exploration-to-commence-drill-program-at-kiyuk-lake-gold-project-in-february-2021\/"},"wordCount":813,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cache-exploration-to-commence-drill-program-at-kiyuk-lake-gold-project-in-february-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1388063\/Cache_Exploration_Inc__Cache_Exploration_to_Commence_Drill_Progr.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cache-exploration-to-commence-drill-program-at-kiyuk-lake-gold-project-in-february-2021\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/cache-exploration-to-commence-drill-program-at-kiyuk-lake-gold-project-in-february-2021\/","name":"Cache Exploration to Commence Drill Program at Kiyuk Lake Gold Project in February 2021 - 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