Cadillac Obtains 0.27% Copper Over 610 Feet
August 09 2011 - 9:37AM
Marketwired
Cadillac Ventures Inc. (TSX VENTURE: CDC) ("Cadillac" or the
"Company") announces results of a further two holes drilled on the
K1-1 deposit located 3 kms east of the Thierry Mine deposit, on the
wholly owned Thierry Project property outside of Pickle Lake,
Ontario. Each of these holes successfully intersected widespread
shallow mineralization, including K-11-08 which intersected a
weighted average of 0.27% Cu over 610 feet, between 110 and 720
feet down the hole.
Commencing in March 2011 Cadillac has drilled a total of 16
holes into the K1-1 deposit, historically identified by UMEX, as
previously press released on June 2, May 5 and May 6 2011.
Initially Cadillac drilled three holes into the deposit in order to
test the UMEX data, and found that the drilling supported
historical records the Company holds for the property. Subsequent
to this the Company commenced an additional 13 hole program,
carried out in May and June of 2011, designed to confirm the
historic data and facilitate an NI 43-101 compliant resource
calculation at K1-1. Based upon the results obtained in this
program, the Company will be planning a more definitive drilling
campaign at K1-1. In this drilling the Company has encountered
widespread mineralization which can be simplistically described as
a shallow lying, large, low grade deposit, with localized higher
grade occurrences within this body. The drilling carried out to
date has not defined the extent, nor the depth, of this body. In
addition, high grade nickel values associated with coarse
pentlandite mineralization were encountered coincident with
interpreted north-south trending shear structures. Insufficient
drilling has been carried out to date to fully define this
mineralization.
Assay results received for K-11-08 and K-11-09 are presented
below.
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Hole From (ft) To (ft) Length (ft) Cu% Ni%
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K-11-08 28.75 74.25 45.55 0.396 0.100
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including 55.2 74.25 19.05 0.514 0.101
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K-11-08 110.0 720.0 610.0 0.265 0.105
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including 110.0 205.0 95.0 0.392 0.110
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including 155.0 200.0 45.0 0.456 0.116
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including 340.0 405.0 65.0 0.339 0.103
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including 435.0 535.0 100.0 0.317 0.098
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including 571.1 660.0 88.9 0.298 0.086
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including 675.0 710.0 35.0 0.339 0.088
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K-11-08 150.0 335.0 185.0 0.238 0.135
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including 195.25 280.0 84.75 0.197 0.149
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including 215.0 245.0 30.0 0.186 0.166
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Hole From (ft) To (ft) Length (ft) Cu% Ni%
----------------------------------------------------------------------------
K-11-09 120.0 464.0 344.0 0.353 0.080
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including 120.0 180.0 60.0 0.438 0.080
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including 135.0 175.0 40.0 0.534 0.083
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including 230.0 340.0 110.0 0.383 0.091
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including 385.0 464.0 79.0 0.372 0.082
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K-11-09 280.0 340.0 60.0 0.403 0.100
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including 300.0 320.0 20.0 0.549 0.108
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Assays for the balance of the holes drilled will be released as
they become available. The drill plan for this program is depicted
on the following link:
http://media3.marketwire.com/docs/DrillPlancadillac.pdf
The samples were selected in the field, cut and bagged, sealed
with a security seal and transferred by bonded courier to the
facilities of Activation Laboratories Ltd. in Thunder Bay where
they were processed using Total Digestion ICP(Total), with the
overlimit results further tested by Fire Assay ICPOES, and the
gold, platinum and palladium tested by Fire Assay ICP.
Mr. Brian H. Newton, P.Geo, of Billiken Management Services Inc.
and a "qualified person" pursuant to NI 43-101 has reviewed and
approved the technical information in this press release on behalf
of the Company.
About Cadillac
Cadillac's Thierry Mine project has a measured and indicated
mineral resource of 6.2 million tonnes at a grade of 1.92% Cu, and
an additional inferred mineral resource of 8.2 million tonnes at a
grade of 1.79% Cu (see the Company's 43-101 compliant report
entitled "Technical Report and Updated Resource Estimate on the
Thierry CU-NI-PGE Mine Property, Pickle Lake Area, Patricia Mining
District, North-Western Ontario, Canada" dated July 2010 and filed
on Sedar). In addition the resource includes Nickel, Silver, Gold,
Platinum and Palladium. The Thierry Mine is located in Northwestern
Ontario, is wholly owned by Cadillac, and was last in operation
under UMEX in the early 1980s, leaving significant underground
development in place. Since re-acquiring the Thierry Mine project,
Cadillac has been focusing on adding to the resource in the
immediate area of the mine by drilling a gap in the NI 43-101
deposit model referred to as the tooth, which management has
internally calculated contains six million tonnes of material, this
program has just been completed, with final results still pending.
All of the holes successfully intersected mineralization of a grade
and width that supported management's assumption regarding the
continuation of the model at depth through the tooth. In addition,
drilling along strike to both the east and the west has intersected
mineralization outside of the NI 43-101 model. Cadillac's property
position at Thierry is large and hosts other exploration targets,
including the K1-1 deposit, known from historical drill records
which are not NI 43-101 compliant, to be a large, low grade and
shallow occurrence approximately three km to the east of the old
Thierry Mine shaft, which also had within it higher grade
intersections. Cadillac is currently investigating this deposit
with several initial drill holes.
International exploration potential is also held by Cadillac, a
joint venture partner with Minas de Aguas Tenidas, S.A.U. ("MATSA")
regarding the exploration of 12 different investigation licenses
encompassing over 230 square kilometers surrounding the Aguas
Tenidas Mine held by MATSA (a wholly owned subsidiary of Iberian
Minerals Corp.) in the Iberian Pyrite Belt of southern Spain. Each
of these licenses hosts visible mineralization and/or evidence of
historical mining activities. In order to earn a 90% interest in
the entire license package Cadillac has embarked on a survey drill
program over several of these licenses which is nearing completion
augmented by geophysics. The information produced by this program
has been assembled and is guiding management in prioritizing these
properties for individual definition campaigns.
The three other projects held by Cadillac consist of: (i) the
Burnt Hill Project, a 51% owned tungsten tin project located
outside of Fredericton, New Brunswick and where Cadillac obtained
positive drill results and new evidence of mineralization at the
extents of this large property last summer and which is slated for
follow up work in the Summer/Fall 2011 season; (ii) the Pickle Lake
Gold project, a land package contiguous to three formerly
productive historic gold mines which has been joint ventured to
Newcastle Minerals Ltd.; and (iii) the New Alger project located in
the Cadillac Break mining camp in Quebec which is a gold project
joint ventured to Renforth Resources Inc.
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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