Latest news with #StikineTerrane
Yahoo
7 hours ago
- Business
- Yahoo
Cascadia to acquire Granite Creek Copper, enhancing copper-gold exploration in Yukon
Canadian junior mining company Cascadia Minerals has entered a definitive arrangement agreement to acquire all issued and outstanding shares of Granite Creek Copper. The companies will merge to create a copper-gold exploration and development company combining Granite Creek's advanced Carmacks Project with Cascadia's copper-gold exploration projects portfolio across the Stikine Terrane in Yukon, Canada. Under the agreement, Granite Creek shareholders will receive a 48% premium based on the company's recent average trading price, with each Granite Creek share exchanged for 0.25 of a Cascadia share. The Cascadia shares are valued at C$0.04 ($0.029) per Granite Creek share. Upon completion, Cascadia shareholders will hold a 59% interest, while Granite Creek's will have 41% of the combined company. Cascadia will be well-financed with approximately C$2.5m in cash to fund ongoing work on the combined property portfolio. Granite Creek CEO and president Tim Johnston said: 'This merger is a logical next step for both companies and will result in a combined entity with a robust portfolio of projects that will be positioned for success in these strong copper and gold markets. I look forward to remaining involved with Cascadia and moving the Carmacks Project forward towards development.' The Carmacks Project, a high-grade copper and gold exploration and development site, is a key asset in the deal, offering strong resource potential and positive economic forecasts. The project is strategically located within the Minto Copper Belt, known for its significant copper-gold-silver deposits. The project's proximity to the past-producing Minto mine and access to infrastructure enhances its value. Cascadia CEO and president Graham Downs said: 'The Carmacks Project provides a strong foundation of road-accessible resources in a safe jurisdiction. Our team is confident in the exploration potential around the main deposits and throughout the property. 'We look forward to building on the systematic work Granite Creek has conducted in recent years by growing near-deposit resources and exploring along trend toward the nearby Minto deposit to the north. Planning is already under way for a fall drill programme at Carmacks, while work advances in parallel at our Catch Property and other discovery-stage Yukon Stikine projects.' The terms of the transaction require approval from Granite Creek shareholders and option holders, with a special meeting expected in July 2025. Regulatory approvals, including from the TSX Venture Exchange, are also necessary for the deal to close. In conjunction with the transaction, Cascadia is conducting a non-brokered private placement to raise up to C$2.25m. The funds will be used for exploration on the Carmacks Project and to cover transaction-related expenses. Cascadia has also agreed to provide Granite Creek with a bridge loan of C$375,000 to cover transaction costs. Additionally, Granite Creek plans to settle debts with TruePoint Exploration and a royalty holder through a shares for debt transaction, subject to TSX Venture Exchange approval. In October 2024, Stillwater Critical Minerals signed a letter of intent with Granite Creek Copper to finalise a definitive agreement to divest a 90% stake in the Duke Island project in Alaska, US. "Cascadia to acquire Granite Creek Copper, enhancing copper-gold exploration in Yukon" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Globe and Mail
15-05-2025
- Business
- Globe and Mail
CEO Clips - Cascadia Minerals Opens New Copper-Gold Frontier in the Yukon
Cascadia Minerals is exploring uncharted copper-gold terrain in the Yukon's Stikine Terrane, with new high-grade discoveries and a fully funded drill program planned for This Matters Exploration company targeting untapped copper-gold potential in Canada's Stikine Terrane Cascadia Minerals is breaking new ground in a part of the Yukon that has seen little to no historical exploration—despite its geological similarities to British Columbia's prolific copper-gold belts. As one of the first companies to explore the Stikine Terrane in the Yukon, Cascadia is uncovering high-grade mineralization in areas that have been overlooked for decades. The company recently made a new copper-gold discovery just 10 kilometres from road and power access, reporting over 1,000 grams of gold per tonne at surface in some samples. Fully funded for its 2025 exploration campaign, Cascadia is preparing to drill this newly identified high-grade zone while advancing a pipeline of other early-stage targets across its broader land package in the Yukon and British Columbia. Key Takeaways First mover in Yukon's underexplored Stikine Terrane Exploring for copper and gold in the Yukon and BC New discovery with over 1,000 g/t gold in early surface samples Project located just 10 km from road and power access Fully funded and preparing to drill newly identified high-grade zones Full Transcript Cascadia Minerals is exploring in the Yukon and looking around in BC as well, primarily for copper and gold. We're kind of the first movers in the Yukon in what's called the Stikine Terrane, and that's Stikine Terrane is what hosts a major copper gold projects and mines in British Columbia. And nobody's ever really looked at it. Whereas we're the first people going in there. We found the cash project, and we're finding more new targets in areas where people have never even explored before in the history of the Yukon, or cash property is ten kilometers from the road and power, and we made a brand new discovery. We're finding over 1000 gram gold material on that target, which is spectacular. I've never seen that before in my life. You know, we're fully funded for a great program. We're going to drill that high grade amp zone in a couple of months. So we have a great pipeline of other projects coming online, and we actually have a lot going on. We're well funded and it's going to be a great year.
