Cadillac Receives Four Investigation Permits in Spain
April 28 2010 - 8:30AM
Marketwired Canada
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
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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.
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