Phoenix, Arizona--(Newsfile Corp. - January 26, 2021) - The Stock Day Podcast welcomed Cache Exploration (OTC Pink: CEXPF) ("the Company"), a publicly traded mining and exploration company with a true district play covering a majority of Proterozoic Kiyuk Basin. CEO of the Company, Jack Bal, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's recent private placement deal. "We raised $2.4 million, which is more than we were planning on raising," shared Bal. "We raised over $1 million in warrant exercises during that time as well," he added. "The money is going to be used for a drill program on our major asset, Kiyuk Lake," said Bal. "It is one of the most prospective open pit targets in Northern Canada and we're very excited. We plan to initiate a drill program in the beginning of March of this year."
Jolly then asked about the Company's projection for this gold project. "It's a very large project; it is over 500 square kilometers," explained Bal, adding that the Company has drilled 15,000 meters to date. "We think we're sitting on a target that could host millions of ounces," said Bal. "We've had very good success on drilling to date. We're planning on doing the drill program in March, but we'll also follow-up with another drill program in July," he continued. "We'll drill more this year than we ever have in the past."
"After our second drill program this year, we will publish a 43-101 resource calculation," shared Bal. "But even then, it will still be the tip of the iceberg," he added, noting that only 1% of the project has been drilled so far. "We have eight major targets, we drilled five already, and we hit on all five. So, we're going to drill quite a bit to expand those zones, but we also have three to four new targets that we have developed," said Bal. "We feel that we will increase our targets and make some major discoveries this year."
"How deep do you think you'll have to drill?" asked Jolly. "We've drilled down to almost 700 feet in the past," said Bal. "We are going to drill deeper, but we're also going to widen these zones. We've had very good success, and we've started hitting high-grade as well," he shared. "In the world right now, the average grade of an open pit mine for gold is about one gram per tonne, and we're averaging almost three grams per tonne on our deposits."
"We're getting a lot of interest from different companies asking for data packages and confidentiality agreements," said Bal. "If we're successful in drilling and increasing the size of our deposit, we're going to get lots of interest that way."
"Are there any other developments that the company is looking at?" asked Jolly. "Absolutely, we are always looking at how to create shareholder value," explained Bal, adding that the Company is also open to acquiring older mines with high resource potential.
To close the interview, Bal shared that the Company is growing closer to their March drill program, which represents significant potential and is expected to generate more interest in their stock.
To hear Jack Bal's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7782229-cache-exploration-discusses-high-grade-potential-of-2021-drill-programs-with-the-stock-day-podcast
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About Cache Exploration
Cache Exploration is a publicly traded mining and exploration company with a true district play covering a majority of Proterozoic Kiyuk Basin. To learn more about Cache Exploration, visit https://www.cacheexploration.com.
Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the use of proceeds from the Private Placement and the availability of capital and finance for Cache to execute its strategy going forward. Forward-looking statements are based on estimates and assumptions made by Cache in light of its experience and perception of current and expected future developments, as well as other factors that Cache believes are appropriate in the circumstances. Many factors could cause Cache's results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
FOR MORE INFORMATION, PLEASE CONTACT:
Jack Bal
Tel. 604-306-5285
jackbalyvr@gmail.com
About The "Stock Day" Podcast
Founded in 2013, Stock Day is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Stock Day provides companies with customized solutions to their news distribution in both national and international media outlets. The Stock Day Podcast is the number one radio show of its kind in America. Stock Day recently launched its Video Interview Studio located in Phoenix, Arizona.
SOURCE:
Stock Day Media
(602) 821-1102
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/72855
