Cadillac Obtains 0.611% Cu and 0.373% Ni Over 52 Feet at K1-1
June 23 2011 - 9:22AM
Marketwired
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
----------------------------------------------------------------------------
K-11-07 570 575 5 0.264 0.139
----------------------------------------------------------------------------
K-11-07 575 580 5 0.68 0.322
----------------------------------------------------------------------------
K-11-07 580 585 5 0.488 0.158
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K-11-07 585 590 5 0.494 0.476
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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.
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
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