Cascadero Copper of Vancouver has entered into an option agreement that enables it to earn a 100 per cent interest in the Powerline gold prospect, which consists of 31 contiguous units in four claims blocks in the Sudbury mining district.
The agreement provides for cash, shares and an exploration commitment over a four-year term. The property is subject to a three per cent net smelter return royalty, 50 per cent of which can be purchased for cash. The agreement also contains an advanced royalty clause, which is payable yearly if Cascadero exercises its right to acquire a 100 per cent interest in the property.
The property adjoins the Scadding Mine property to its south. Both properties occur in a belt of past gold producers that extends from northeast of the Sudbury basin to south of Espanola, a distance of about 120 km.
Cascadero Copper is an integrated prospecting and mineral exploration business with offices in North Vancouver, Sudbury, and Salta City, Argentina. The company generates, acquires and explores mineral properties in these three areas.
Cascadero has several copper-gold-porphyry prospects in the Toodoggone region of British Columbia, volcanic and intrusive hosted gold properties in the Sudbury, Swayze and Timmins camps of Ontario, and holds a 50 per cent interest in a 46-property portfolio in northwestern Argentina. Exploration is currently active in Ontario and Argentina and exploration has recently commenced in British Columbia.
Cascadero's commodity focus is gold, silver and copper hosted in large-scale mineral systems.
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