Cadillac Commences Burnt Hill Drill Program
August 11 2011 - 7:30AM
Marketwired
Cadillac Ventures Inc. (TSX VENTURE: CDC) ("Cadillac" or the
"Company") is pleased to announce the commencement of a drill
program on the Company's 51% owned Burnt Hill tin, tungsten and
moly project located near Fredericton, New Brunswick.
Phase one of a planned three phase program on the Burnt Hill
tin, tungsten and moly project is underway. The first phase
consists of approximately 1200 meters of diamond drilling with 7
holes designed to test the down dip extensions of the known
mineralized vein systems in and around the Brunt Hill mine site.
Should the holes successfully intersect the multiple parallel vein
systems as expected, they will infill gaps in the existing model
and provide more information for an upcoming resource update. The
drilling began on hole BH-11-01 on August 9, 2011. It is expected
that this first phase of the program will be completed within 4-6
weeks.
The Burnt Hill Project is one claim block covering more than
10,000 hectares, in joint venture with Noront Resources. This
Project encompasses several separate projects, based upon either
known historic showings (Tin Hill, Todd Mountain, McLean Brook and
2 1/2 Mile Brook) or, the most advanced portion of the property,
the Mine Project, a site with a decline in place which was
previously operated in the 1980's to a pilot plant stage, an NI
43-101 compliant resource is in situ, with an effective date of
August 13, 2009, as presented below.
To view the P&E 2009 Burnt Hill Mineral Resource Estimate,
please visit the following link:
http://media3.marketwire.com/docs/CDCTable.jpg.
A second proposed work phase will follow up on a prospecting
program carried out last year, which demonstrated and discovered
mineralization at several showings across the property. The second
phase in fall 2011 is planed to be comprised of surface stripping
to expand the surface expression of the Tin Hill tin showing and
possibly the Maclean Brook showing. Encouraging results from the
2010 sampling and mapping program demonstrated that the mineralized
quartz veins extend beyond the current cleared area to the east and
west in each area. Stripping should expose previously unsampled
areas providing access for a new sampling program to be followed by
several shallow diamond drill holes to test the near surface
potential of the mineralized zones. A follow up drill program may
be planned based on the results of this phase.
A third phase of drilling at the Burnt Hill mine site area will
be planned to test the eastern and western extensions to the
mineralization beyond the current modelled solid, that will expand
the current resource. Details of this program will be released as
the planning phase advances.
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.
For more information regarding Cadillac, please visit our
website at www.cadillacventures.com.
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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