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Cache Reports Up to 30.7 G/T Gold, 159.0 G/T Silver, And 4.47% Copper From A Quinn Eskay Property Float Sample

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October 15, 2012

TORONTO, CANADA – October 15, 2012 – Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V: CAY), is very pleased to release the following results from our 100% owned Quinn Eskay Property near Stewart, British Columbia. Dr. David Lentz, P.Geo., is a Qualified Person as described in National Instrument 43-101 and is responsible for the technical information contained in this news release.

In August 2012, Cache personnel conducted a sampling program at the company’s 100% owned Quinn Eskay Property, located 50 km northwest of Stewart, BC (see attached Figure 1). The primary objective was to further investigate zones of interest identified in the 2011 work program (see October 5, 2011 news release), while also expanding programs to other parts of the property not previously prospected. The company is extremely pleased to announce positive results from these work programs.

Seventeen samples were collected from two sites (see attached Figure 2). Samples 12-QECG-01 through -07 were collected from the first site, where previous samples reported 0.83 g/t Au and 0.76 g/t Au (see October 5, 2011 news release). Samples 12-QECG-08 through -13 were taken from a zone of intense hematite alteration and silicification. The most significant sample (12-QECG-07) is from a large angular float boulder of quartz-sulfide vein (see attached Figure 3), which contained 30.7 g/t Au, 159 g/t Ag, and 4.47% Cu. Other reported highlights include 12-QECG-01, -04, and -05E, which contained 0.428 g/t Au, 0.207 g/t Au, and 0.309 g/t Au, respectively (see attached Table 1). All samples were collected from schistose to mylonitic meta-volcanic and intrusive rocks with varying degrees in intensity of quartz and/or carbonate veining.

The Quinn Eskay Property is favourably located in the Skeena mining district of British Columbia with numerous past producers and deposits undergoing active exploration. Most notably, these include the large volcanogenic massive sulphide deposit at the Granduc Mine (see attached Figure 1), located approximately 10 km south of the Quinn Eskay Property. Granduc historically reports having produced over 64,000 ounces of gold, 4.0 million ounces of silver, and 419 million pounds of copper from 1971 to 1984; Castle Resources Inc. (TSX-V: CRI) currently plans to bring Granduc Mine back into production with an indicated 10.4 Mt of 1.25% Cu, 0.14 g/t Au, and 10.6 g/t Ag and an inferred of 36.6 Mt of 1.26% Cu, 0.13 g/t Au, and 9.7 g/t Ag (source: Castle Resources February 21, 2012 news release and public information on Castle Resources website). The Doc Property, also known as the Gracey, is located 2 kilometres to the north and exhibits similar vein-style mineralization, in addition to associated skarn mineralization. It is reported to contain up to 426,337 tonnes of indicated resources grading 9.2 g/t gold and 44.9 g/t silver (source: November 2009 Geological and Geochemical Report on the Eskay Project filed with the British Columbia Ministry of Energy and Mines as an assessment report).


To read the entire press release, click here.

Discussion
2 Comments
    Oct 15, 2012 15:29 PM

    Nice find and News release, thanks Big Al.

    Oct 27, 2012 27:41 AM

    Setting aside for a moment the issue of whheter or not this is actually cheating, forcing everyone to retake the exam is, to me, highly questionable. If he has a list of students that cheated, that means he also has a list of students that didn’t cheat. So in making everyone retake the exam, he is either admitting that he does not actually have confidence in his information, and that he is bluffing when he claims he knows who participated, or that he is knowingly and willingly punishing the innocent. Bluffing is understandable, but ultimately, it is not the behavior of someone who occupies the moral high-ground he is trying so hard to claim. There would be no shame in saying We know a lot of you cheated, but we don’t know who. All of you have to retake the new test. In that situation, making everyone take the test make absolute sense. Punishing students known to be innocent, on the other hand, is the very definition of lazy, and borderline despotic.This situation is clearly being taken very seriously, and can have very serious consequences for those involved. If this school does not respect its students enough to be honest with them about it, or treat them as individuals, according to their individual actions, the school should not expect to have the respect of its students.