Cadillac Obtains 1.69% CU and 0.133% NI Over 19.4 Feet in CV-11-05
June 16 2011 - 10:11AM
Marketwired Canada
Cadillac Ventures Inc. (TSX VENTURES:CDC) ("Cadillac" or the "Company") is
pleased to announce initial assay results for drillhole CV-11-05, the last deep
hole drilled into the "tooth" shaped void at depth on the Thierry Mine Project.
The main mineralized horizon was encountered as anticipated. This zone included
an intersection of 1.69% Cu and 0.133% Ni over 19.4 feet. Within this zone 3.38%
Cu and 0.156% Ni were assayed over 3.9 feet. Additional assay values are as
follows;
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From (ft) To (ft) Length (ft) Cu % Ni %
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3878.3 3883.5 5.2 1.76 0.158
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3883.5 3887.4 3.9 3.38 0.156
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3887.4 3890.4 3 1.72 0.120
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3890.4 3892.4 2 0.02 0.004
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3892.4 3897.7 5.3 0.98 0.148
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3897.7 3899.7 2 0.85 0.059
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3878.3 3883.5 5.2 1.76 0.158
----------------------------------------------------------------------------
"We are pleased that this final hole successfully demonstrates the continuity of
mineralization at depth in the void at the Thierry Mine Project. The exploration
update previously released, combined with the success of the last three holes in
the tooth, is further proof of management's conviction that the Thierry Mine
merits re-opening. This success at depth, combined with the expansion along
strike in both directions, will have a positive impact on the revised 43-101
resource we have commenced at the Thierry Mine", stated Norman Brewster P.Geo,
President and CEO of Cadillac.
To view the Current Interpretation of Thierry Mine Project, please visit the
following link:
http://media3.marketwire.com/docs/Current%20Interpretation%20of%20Thierry%20Mine%20Projec2.pdf
Cadillac is presently drilling off the K1-1 project, a separate occurrence to
the east of the Thierry Mine Project on the Thierry property. The location of
the K1-1 deposit relative to the Thierry deposit can be seen below, with an
interpretation of the strike for both deposits. Additional holes to those
depicted have now been drilled.
To view the Thierry Mine Area Strike, please visit the following link:
http://media3.marketwire.com/docs/Thierry%20Mine%20Area-Strike.pdf
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.
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