Cache Doubles From Near Yr Lows, Reports Encouraging REE And Gold Results


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Cache Exploration Inc (CAY.V) is up 100% to 2 cents mid-morning.

The company yesterday reported REE and gold results from the Jake Lee Project in New Brunswick. The Jake Lee Property is under option from Geodex Minerals Ltd.

In late 2012, the company carried out soil sampling and radiometric prospecting on the Jake Lee Property. The results of the rock samples submitted did not return significant values, although there is very limited exposure in the region. The highest reported result was a sample which contained 213.35 ppm Total Rare Earth Elements ( TREE ), including 28.55 ppm HREE.

The results of the reanalyses of the 2011 soils for gold concentrations proved encouraging and have identified a significant gold anomaly, Cache said. One sample from the south-central region of the claim was found to contain 224 ppb gold in an area interpreted to be near the contact zone between the Jake Lee Mountain Granite and the Mascarene Group metasediments. This geologic area has been historically of interest for other metals - notably Zinc, Lead, Silver, and Copper.

The 2012 exploration program at the Jake Lee Property has identified areas of interest which the Company will evaluate for the provision of a follow up program.

Volume traded is 812,000.

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This article appears in: Investing , Commodities

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