Cadillac Receives Four Investigation Permits in Spain
April 28 2010 - 7:30AM
Marketwired
Cadillac Ventures Inc. (TSX VENTURE: CDC) ("Cadillac" or the
"Company") is pleased to announce the receipt of the following four
investigation permits in the Iberian Pyrite Belt area of Southern
Spain.
P.I. Esperanza
The Esperanza Investigation Permit is now fully granted. This
permit covers 845 hectares in the municipality of Almonaster la
Real to the east of the Aguas Tenidas Mine of Iberian Minerals
Corp. The ground encompasses three historical mining operations as
described in Cadillac's press release dated February 18, 2010. The
properties include the San Miguel, which has a long history of
intermittent mining activity and which was operated from 1888 to
1960 by Sam Miguel Copper Mines and produced approximately 1.2
million tonnes at a grade cited to be approximately 3% Cu. In the
1990s Rio Tinto mined some of the gossan onsite for gold, however,
no records are available at this time. The Esperanza and the
Angostura projects were both mined in the early 20th century. They
are located in the same belt, separated by a distance of 3.5 km
with gossan indications between them. The total past production of
both projects (Esperenza and Angostura) was 1.8 million tonnes at a
reported grade of approximately 1.55 % Cu. All of the data cited
above regarding historical operations was obtained from a Spanish
language technical publication from 1963, has not been verified and
is merely indicative of the properties potential. Prior sampling on
each of the San Miguel, Esperanza and Angostura prospects within
this permit are presented below, restated from the previous press
release. The Company has taken additional grab samples from these
areas and intends to press release those results once
available.
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SAMPLE SAMPLE UTM 29 Au
NUMBER DESCRIPTION Easting Northing gpt
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SM1 San Miguel gossan 698307 4181968 0.645
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ESP1 Esperanza gossan 704054 4181930 0.027
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ESP2 Esperanza dumps 703903 4181923 0.396
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ANG1 Angostura gossan dumps 701070 4182662 17.95
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P.I. El Soldado
The El Soldado Investigation Permit covers approximately 90
hectares and encompasses the Mina del Soldado - San Eduardo massive
sulphide that was historically mined by a small open cut, a 50m
shaft is present onsite with 3 exploration levels which were
sampled. The historical records of this sampling indicate that 227
samples were taken from the underground exploration levels and
returned an average grade of 2.52% Cu and an indicated tonnage of
120,000 tonnes in situ underground. The preceding statement is
historical in nature and a qualified person has not done sufficient
work to classify the historical estimate as current mineral
resources and the historical estimate should not be relied upon. It
is instead used by management to guide future exploration on the
project. This property was described in Cadillac's February 18th
press release with the samples obtained by Cadillac below also
reported. The property has not seen modern mining techniques
applied, historical records and activities cease in 1920.
Cadillac intends to drill the Mina del Soldado - San Eduardo
property, which has never been drilled, during the summer 2010
program.
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SAMPLE SAMPLE UTM 29 Cu Pb Zn Ni Ag
NUMBER DESCRIPTION Easting Northing % % % % gpt
----------------------------------------------------------------------------
ES1 El Soldado open pit 706850 4182178 0.344 6.71 16.15 - 90.3
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ES2 El Soldado open pit 706850 4182178 0.192 7.13 21.5 - 55.3
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One sample collected on gossan dumps from the pit returned as
follows:
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SAMPLE SAMPLE UTM 29 Au
NUMBER DESCRIPTION Easting Northing gpt
----------------------------------------------------------------------------
ES3 El Soldado gossan dumps 706908 4182169 1.45
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P.I. Toriles
The Toriles Investigation Permit encompasses approximately 60
hectares and includes the Duquesa mineralization, an occurrence of
massive sulphide mineralization explored historically with shallow
shafts between 15-30 m deep. Riomin Iberica S.A. (part of the Rio
Tinto Group) was the previous title holder of the Permit, and they
sampled the dumps obtaining assays which have not been verified but
which management refers to in order to illustrate the property's
potential of 2.6% Cu, 26% Zn and 6.70 Pb. Another sample from the
gossan zone which has not been verified returned 0,6 %Cu, 3.4 % Pb,
378gpt Ag , 25.4 gpt Au and 1.68 %Ga (Gallium). Cadillac intends to
conduct an initial surface sampling program on this property during
the summer 2010 exploration program.
P.I. San Casiano
The San Casiano Investigation Permit has been fully granted.
This permit covers 3,450 hectares and is located outside of the
town of Valverde del Camino. The property encompasses the historic
San Casiano Mine, last active in 1913. Still onsite are a 50m shaft
plus horizontal galleries, and the waste dumps from the former
operations. Two samples collected from those dumps were press
released by Cadillac on February 18, 2010.
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SAMPLE SAMPLE UTM 29 Cu Pb Zn Ni Ag
NUMBER DESCRIPTION Easting Northing % % % % gpt
----------------------------------------------------------------------------
SCN1 San Casiano dumps 699085 4157774 1.345 0.014 0.015 2.07 1.4
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SCN2 San Casiano dumps 699493 4158101 2.53 0.025 0.018 1.01 5.8
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Brian H. Newton, P.Geo, President of Minroc Management Limited
and a qualified person under National Instrument 43-101, has
reviewed and approved the contents of this press release.
About Cadillac
Cadillac is a development-focused exploration Company which has
the past-producing Thierry Property near Pickle Lake in Northern
Ontario, three Canadian exploration projects, located in regions
that have been historically active, and several exploration
projects in Spain.
In addition to the Thierry mine project Cadillac wholly owns New
Alger project, a previously productive gold mine, located outside
of Cadillac, Quebec, where the Company has entered into a joint
venture agreement with Renforth Resources Inc. for a three year
$2.5 million exploration program. The Burnt Hill Project is 51%
owned tungsten tin project located outside of Fredericton, New
Brunswick. The Company also holds the Pickle Gold project comprised
of 21 claims in the vicinity of 3 historically proactive gold mines
near Pickle Lake, and the Kirkland Gold project, located about 15
kilometres west of the town of Kirkland Lake. In Spain, the Company
is joint venture partner with Minas de Aguas Tenidas, S.A.U.
regarding the exploration of 12 different investigation licenses
surrounding the Aguas Tenidas Mine in the Iberian Pyrite Belt of
southern Spain.
For more information regarding Cadillac, please visit our
website at www.cadillacventures.com.
Forward Looking Statements
This news release may contain certain forward-looking statements
under applicable securities laws. All statements, other than
statements of historical fact, are forward looking. Forward-looking
statements are frequently identified by such words as 'may',
'will', 'plan', 'expect', 'believe', 'anticipate', 'estimate',
'intend' and similar words referring to future events and results.
Forward-looking statements are based on the current opinions and
expectations of management. All forward-looking information is
inherently uncertain and subject to a variety of assumptions, risks
and uncertainties, including the speculative nature of mineral
exploration and development, fluctuating commodity prices, the
risks of obtaining necessary licences and permits and the
availability of financing, as described in more detail in the
Company's securities filings available at www.sedar.com. Actual
events or results may differ materially from those projected in the
forward-looking statements and the reader is cautioned against
placing undue reliance thereon. Cadillac assumes no obligation to
revise or update these forward-looking statements except as
required by law. All dollar amounts are in Canadian dollars unless
otherwise noted.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Cadillac Ventures Inc. Norman Brewster President and
Chief Executive Officer 416 203-7722 www.cadillacventures.com
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