Cadillac Obtains 0.611% Cu and 0.373% Ni Over 52 Feet at K1-1
June 23 2011 - 9:22AM
Marketwired Canada
Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") announces
that it has obtained an average of 0.611% Cu and 0.373% Ni over 52 feet from
drillhole K-11-07, drilled on the K1-1 deposit located 3 kms east of the Thierry
Mine deposit, on the Thierry Project property outside of Pickle Lake, Ontario.
This hole was logged in the field, with the presence of massive pentlandite
crystals noted in the core. Pentlandite, which is an iron-nickel sulphide, is
usually formed with a 1:1 ratio of iron and nickel. The crystals, massive in
this sample, were smaller and more dispersed when initially observed in the
field in the earlier K1-1 drilling carried out by Cadillac. In this instance the
samples were selected and rushed for assay on the basis of the size of the
crystals. This is the first hole at K1-1 in which the massive crystals have been
identified, hosted in a breccia zone. Cadillac has been re-evaluating the
historical drilling records from UMEX for further occurrences of a breccia zone,
which had already been recognized in the field. Initial observation suggests
that there is a breccia zone present along several sections and echoed in the
UMEX drilling several hundred feet to the west. However, at this time it isn't
possible to comment on the extent or the significance of this zone as a whole.
Assay results from samples taken over a 52 foot section of this breccia zone are
as follows.
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Hole # From (ft.) To (ft.) Total Length (ft.) % Cu % Ni
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K-11-07 546.5 550 3.5 1.12 0.405
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K-11-07 550 555 5 0.778 0.23
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K-11-07 555 560 5 0.649 0.63
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K-11-07 560 565 5 0.427 0.636
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K-11-07 565 570 5 0.748 0.251
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K-11-07 570 575 5 0.264 0.139
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K-11-07 575 580 5 0.68 0.322
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K-11-07 580 585 5 0.488 0.158
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K-11-07 585 590 5 0.494 0.476
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K-11-07 590 595 5 0.549 0.459
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K-11-07 595 598.5 3.5 0.712 0.417
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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.
For more information regarding Cadillac, please visit our website at
www.cadillacventures.com.
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