Peru Operations
Cascadia signed a "Memorandum of Understanding" to enter into a Strategic Alliance agreement with
QUIPPU EXPLORACIONES SAC. on May 30, 2008 to explore for base
metal opportunities in southern Peru. Quippu is a privately
operated Peruvian exploration company with a team of industry trained,
highly experienced geoscientists that have a proven track record of
exploration success.Quippu was chosen as a prefered partner in Peru primarily because their gescientists are known to have a solid knowledge of the geology and resource
potential of Peru as well as the expertise to seek out and deliver world class
base metal opportunities in partnership with Cascadia throughout Peru.
As part
of the Strategic Alliance agreement, Cascadia will be required to fund Quippu’s
base metal project generative exploration activities in southern Peru for a period
of two (2) year in which case Cascadia will have the option to accept or
decline all base metal opportunities generated. If Cascadia chooses to accept,
Quippu will receive 20% of Cascadia’s interest in the property carried through
to feasibility. If Cascadia chooses to decline, Cascadia will have the option
to earn 25% of Quippu’s interest in the property by covering 25% of Quippu’s exploration
expenditures on the property including staking. Quippu will have the right of
first refusal on Cascadia’s 25% interest in Quippu properties and Cascadia will
have the right of first refusal on all of Quippu’s interests and non base metal
opportunities within the Area of Interest (AOI).
Figure 1: Map of Peru Outlining the Area of Interest (AOI) in Southern Peru.
Project Generative Activity
In mid-July Cascadia and Quippu staked a 800 hectare base metal joint
venture property in southern Peru. The property is located in the
Eocene-Oligocene Porphyry Cu-Mo (Fe,Au) and Skarn belt of southern
Peru. This belt is also known to host the recently discovered Southern
Peru Copper's Los Chancas Cu-Mo-Au deposit and Xstrata's Las Bambas
Cu-Mo-Au-Ag deposit. The property was staked based on a technical evaluation by Cascadia and Quippu using in-house expertise
to target hydrothermal alteration systems commonly associated with large porphyry
and skarn type base metal deposits. This
targeting system was developed based on the technical knowledge of porphyry and
skarn alteration systems in conjunction with proven success in outlining the
alteration systems associated with several known porphyry Cu deposits located
in southern Peru. The company has also
outlined several other large alteration targets presently located on open
ground and plans to complete field evaluations prior to making any further
decisions on staking.
Photo 1: Quippu Geologist and Local Helper on Property Evaluation in Southern Peru.
