Midway
Ni-Cu-PGE and U Operations
The Midway Ni-Cu-PGE and U property is comprised
of 608 claims (approximately 24,000 acres) owned 100% by Cascadia with no
underlying third party royalty agreements. The property is located
approximately 50 km south of the community of Armstrong Station in Northern
Ontario along highway 527 and is easily accessible throughout the year. Cascadia recently entered into a joint venture agreement
with East West Resources Corp. where East West will earn a 50% interest
in the property by spending $175,000 by February 8, 2009 and issuing
100,000 common shares and 100,000 warrents at $0.15 per share,
exercisable within one year of TSX approval.
The
Midway property was initially
staked by Cascadia in 2004 for its Ni-Cu-PGE and U potential and covers
approximately 11 kms of Sibley Basin sediments of similar age to the
Athabasca
Basin in Saskatchewan known to host sizeable high grade U deposits. The
property is also underlain by the Sturgeon Lake Archean greenstone belt
with similar geology and age to that hosting the Lac des Iles
PGE-Au-Ni deposit located approximately 75 kms to the south. The
Sturgeon Lake greenstone belt is inferred to extend below the Sibley
sediments along the eastern part of the property. This is a similar
geological setting to the Athabasca Basin in Sasketchewan, where the
Athabasca U deposits generally occurwhere the greenstone graphitic metasediments are in contact with the overly basin sediments.
In 2004 Cascadia completed a 270
line km VTEM survey over the Midway property which traced a number of potential
formational graphite basement conductors below the Sibley sediments in this
area. These conductors are primary U exploration targets which are presently
untested on the Midway property. Several isolated short wavelength
late-channel VTEM conductors were also outlined along the southwestern part of
the property. These conductors are coincident with a magnetic high trend
thought to represent an unmapped gabbroic body within the Sturgeon Lake greenstone belt and west of the
Sibley Basin. It is postulated that these
conductors represent magmatic Ni-Cu-PGE rich sulphides occurrences along the
base of a gabbro body. East West Resources will drill these anomalies to test these
potential Ni-Cu-PGE targets during the 2008 drill program.
Geological Maps (Click for Larger View)
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| Property Geology Schematic |
Midway VTEM Geophysics Compilation |
