Cadillac Obtains 6.87 gpt Au from Gossan-Sulphide Contact Zone on San Miguel Gossan, Esperanza Investigation Permit Area
May 03 2010 - 8:00AM
Marketwired
Cadillac Ventures Inc. (TSX VENTURE: CDC) ("Cadillac" or the
"Company") is pleased to report the following initial assays from a
regional orientation sampling program ongoing over the 12 license
areas which form Cadillac's Joint Venture with MATSA in the Iberian
Pyrite Belt of Southern Spain. This includes a 6.87 gpt Au result
obtained from a sample selected from the exposed contact zone of
the San Miguel Gossan located on the Esperanza investigation
permit. The ongoing regional sampling program is focused on
obtaining a number of samples from both the VMS mineralization
outcropping and exposed in stockworks on several of the properties
and from the gossan mineralization exposed on the various
properties. Assay results have been received for the initial gossan
samples to date and are as follows;
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ANALYTICAL RESULTS
-----------------------------------
DESCRIPTION SAMPLE Kg Au gpt Ag gpt
----------------------------------------------------------------------------
San Miguel Gossan, P.I. Esperanza E006901 1.22 0.15 less than 5
----------------------------------------------------------------------------
San Miguel Gossan, P.I. Esperanza E006902 2.42 0.47 8
----------------------------------------------------------------------------
San Miguel Gossan, P.I. Esperanza E006903 2.16 2.04 10
----------------------------------------------------------------------------
San Miguel Gossan, P.I. Esperanza E006904 4.55 2.99 15
----------------------------------------------------------------------------
San Miguel Gossan, P.I. Esperanza E006905 2.66 2.81 27
----------------------------------------------------------------------------
San Miguel Gossan, P.I. Esperanza E006906 2.27 2.02 112
----------------------------------------------------------------------------
San Miguel Gossan, P.I. Esperanza E006907 2.12 0.62 40
----------------------------------------------------------------------------
San Miguel Gossan, P.I. Esperanza E006908 3.99 1.73 11
----------------------------------------------------------------------------
San Miguel Gossan, P.I. Esperanza E006909 2.69 1.95 11
----------------------------------------------------------------------------
San Miguel Gossan, P.I. Esperanza
(Contact gossan-sulphide) E006910 1.09 6.87 86
----------------------------------------------------------------------------
Angostura Gossan, P.I. Esperanza E006911 2.72 1.32 5
----------------------------------------------------------------------------
Angostura Gossan, P.I. Esperanza E006912 2.68 0.29 less than 5
----------------------------------------------------------------------------
Angostura Gossan, P.I. Esperanza E006913 2.89 3.19 10
----------------------------------------------------------------------------
San Platon Gossan, P.I. Buitrera E006914 2.78 4.3 36
----------------------------------------------------------------------------
San Platon Gossan, P.I. Buitrera E006915 1.55 6.57 51
----------------------------------------------------------------------------
San Platon Gossan, P.I. Buitrera E006918 1.35 38.6 94
----------------------------------------------------------------------------
San Eduardo Gossan, P.I. El Soldado E006927 1.71 3.42 12
----------------------------------------------------------------------------
----------------------------------------------------------------------------
These samples were obtained onsite either by or under the direct
supervision of Mr. Jose Malave Mora, Euro Geol. Specifically,
sample #E006910 was obtained, bagged and tagged onsite by Mr.
Norman Brewster, P.Geo and President of Cadillac. The sample
program is being executed under the supervision of Mr. Brian H.
Newton, P.Geo and President of Minroc Management Limited. Each of
Mr. Malave, Brewster and Newton are "qualified persons" as defined
by National Instrument 43-101. The samples were personally
delivered to the ALS Chemex preparation facility in Seville under
seal by Mr. Malave where they were processed by ALS Chemex which
includes the crushing of each sample and a representative sample of
that material being prepared. These were sent by air express
courier by ALS to their accredited laboratory facility in
Vancouver, Canada where the samples underwent the Au-AA23 (Au 30g
FA-AA finish) process.
San Miguel Gossan, P.I. Esperanza
Management of Cadillac is encouraged by the results obtained
from the regional orientation sampling on the Esperanza
investigation permit. These samples were all obtained in the area
of the historical San Miguel Mine which was active in the period
between 1860 and 1970 producing both copper from massive sulphides
and gold from gossans. Below is a satellite photo image of the area
indicating where the samples were obtained.
To view figure 1, please visit the following link:
http://media3.marketwire.com/docs/cdc503fig1.pdf
The breadth of sample distribution and the results obtained
warrants, in the opinion of management, a follow up systematic grid
sampling program over the entire extent of the visible gossan
mineralization. At present the gossan is seen on surface over an
area that is approximately 400 metres long in an east-west
direction and 100 metres wide in a north-south direction. The
gossan is estimated to be approximately 30 metres thick as seen in
one area where the historic mining activities cut into the face of
a hill to remove underlying material. Rio Tinto is known to have
mined both the sulphides in the mineralization and stockworks for
copper and the gossans for gold at this location. In the photo
below the gossan can be seen overlying the stockwork and mined
massive sulphide mineralization. Samples were taken from the
exposed gossan stockwork in this picture which are presently being
assayed for gold, Cadillac intends to make these results public
once available.
To view figure 2, please visit the following link:
http://media3.marketwire.com/docs/cdc503fig2.pdf
Mr. Brian H. Newton P.Geo, 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 is a development-focused exploration Company which has
the past-producing Thierry Property near Pickle Lake in Northern
Ontario, several exploration projects in Spain in joint venture
with MATSA and three Canadian exploration projects, located in
regions that have been historically active.
In addition to the Thierry mine project Cadillac wholly owns the
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. 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. The Burnt Hill Project is a 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.
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
Cadillac Ventures (TSXV:CDC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cadillac Ventures (TSXV:CDC)
Historical Stock Chart
From Jul 2023 to Jul 2024