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Cache has expanded the Company’s claim position contiguous to the Cross Hills REE Property in Newfoundland by staking. The Cross Hills Northern IOCG Property consists of 100 additional claims covering 25 square kilometres which are contiguous to the north of the Cross Hills REE original Property claim boundary. The area has potential for Iron Ore Copper Gold (IOCG) mineralization similar in style to the Olympic Dam deposit with Uranium and Rare Earth Element potential.
Location and Access
The Cross Hills property (63 claims) is located in southeastern Newfoundland, about 1.5km north of Grand Le Pierre, within the Cross Hills Intrusive Complex (see Figs. 1 and 2). Access to the property is through the English Harbour Road (Rte 211), which runs adjacent to and through Cache Exploration claims. Cache Exploration claims are close to all infrastructures needed to mine and process this specific style of mineralization, in a province known to support mining.
Geology and Previous Work
The claims are situated within the Cross Hills Complex, where a group of related gabbro to diabase, grandiorite, biotite granite, peralkaline and minor syenite outcrops over 260 km2. Detailed geological mapping, sampling, and petrographic studies were completed by Tuach Geological Consultants Inc. (presented in 1984) over a 20km2 area to the northwest of Grand Le Pierre. They revealed that the peralkaline granite and immediately adjacent rocks are host to numerous mineral occurrences (see Fig 3). The most significant was the discovery of Zr-Nb-Y-REE mineralization hosted in small aplite dykes (and veins) that intrude the peralkaline granite.
Cache Exploration Inc holds claims that are immediately adjacent to known Zr-Nb-Y-REE mineralization (Tuach, 1984). The south end of Cache Exploration’s property runs almost parallel to the contact between the mafic volcanic unit and the peralkaline granite, and is crosscut by faults. Numerous peralkaline and biotite granite veins and dykes intrude the mafic unit, notably adjacent to the faults. Similar biotite granite intrusions, adjacent to the same fault that cross cuts the Cache Exploration property, were sampled due to high radioactivity and revealed 6328 g/t Zr and 316 g/t Nb (Tuach, 1984), indicative of underlying mineralization.
The presence of the same suite of peralkaline granite dykes and veins (as noted above) located on Cache Exploration Inc. claims points to other potential areas for such mineralization (Miller, 1990). Cache Exploration is anticipating a preliminary scintillometer prospecting and geological reconnaissance program over the entire Cross Hills property.
The Newfoundland Geological Survey’s “Geoscience Online” database and a compilation by Cache of previous reports of work indicate 11 Cu-Ag-Au occurrences on these properties (see attached map). One such occurrence noting up to 12.1% Cu, 3.02 oz/ton Ag, and 2,130 ppb Au within the Louil Hills claim boundaries that is one of the priority targets to be located and sampled in detail. In addition, the channel sampling of the peralkalic REE-Y rich zones found as a result of Cache’s 2010 Louil Hills exploration program will be extended. This lithogeochemical and surficial material sampling program will be supported by spectrometry, as both styles of mineralization can be associated with anomalous radioactivity.
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