Cascadia Minerals to acquire Granite Creek

Granite Creek is primarily engaged in copper and gold exploration and development of the Carmacks Project, located 34 km northwest of Carmacks in central Yukon, and 40 km from the past-producing Minto mine.

Transaction highlights:

• The road-accessible Carmacks Project hosts a high-grade Measured and Indicated Resource containing 651 Mlbs of copper and 302 koz of gold (36.3 million t grading 0.81% copper, 0.26 g/t gold, and 3.23 g/t silver and 0.01% molybdenum, or 1.07% copper equivalent) with a 2023 PEA demonstrating positive economic potential.
• Cascadia is well positioned to grow the Carmacks Project resource, with a resource expansion drill programme planned for fall 2025 to test numerous targets, including near 2021 diamond drill hole CRM21-011 which returned 105.52 m of 0.96% copper with 0.18 g/t gold and 4.06 g/t silver (1.18% copper equivalent) and has not seen follow-up.
• The combined company will be a leading Yukon copper-gold explorer and developer, combining Granite Creek’s advanced Carmacks Project with Cascadia’s portfolio of copper-gold exploration projects across Yukon’s Stikine Terrane, providing shareholders a robust pipeline of projects from greenfield discoveries to brownfield expansion and development.
• Granite Creek shareholders will receive exposure to Cascadia’s discovery-stage Catch Property, where drilling is underway to test a new high-grade epithermal gold discovery (1065 g/t gold in outcrop) and extensive copper-gold porphyry mineralisation.
• Upon completion of the transaction, Cascadia will have a total cash balance of approximately CAN$2.5 million, which will be used to fund ongoing work on the combined property portfolio.
• The Cascadia team brings extensive and proven Yukon exploration experience, including comprehensive geology, engineering, metallurgy, finance, capital markets, community engagement, governance, and sustainability backgrounds.
• The transaction will provide efficiencies and remove duplicative costs by optimising resources of the combined company and providing for more efficient advancement of the assets as a single portfolio with a focus on delivering maximum value for shareholders.

Graham Downs, President and CEO of Cascadia, commented:

“This transaction is a great opportunity for both Cascadia and Granite Creek shareholders. 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 underway for a fall drill programme at Carmacks, while work advances in parallel at our Catch Property and other discovery-stage Yukon Stikine projects. The Cascadia team has a demonstrated track record of advancing district-scale projects and making meaningful discoveries, and we look forward to bringing this experience to the Carmacks Project as well.”

Tim Johnston, President and CEO of Granite Creek, commented:

“With Cascadia’s board and management’s long history of discovery and development of mineral projects in the Yukon, I have confidence that they are the right team to advance the Carmacks Project and create long term shareholder value. 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.”

Read the article online at: https://www.globalminingreview.com/mining/10062025/cascadia-minerals-to-acquire-granite-creek/