Cadillac Obtains 0.33% Copper Over 516.4 Feet
August 16 2011 - 8:30AM
Marketwired Canada
Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") announces
results of a further two holes drilled on the K1-1 deposit located 3 kms east of
the Thierry Mine deposit, on Cadillac's wholly owned Thierry Project property
located outside of Pickle Lake, Ontario. Each of these holes successfully
intersected widespread shallow mineralization, including K-11-10 which
intersected a weighted average of 0.33% Cu over 516.4 feet, between 18.6 and 535
feet down the hole.
Commencing in March 2011 Cadillac has drilled a total of 16 holes into the K1-1
deposit, historically identified by UMEX, as previously press released on June
2, May 5 and May 6 2011. Initially Cadillac drilled three holes into the deposit
in order to test the UMEX data, and found that the drilling supported historical
records the Company holds for the property. Subsequent to this the Company
commenced an additional 13 hole program, carried out in May and June of 2011,
designed to confirm the historic data and facilitate an NI 43-101 compliant
resource calculation at K1-1. Based upon the results obtained in this program,
the Company will be planning a more definitive drilling campaign at K1-1. In
this drilling the Company has encountered widespread mineralization which can be
simplistically described as a shallow lying, large, low grade deposit, with
localized higher grade occurrences within this body. The drilling carried out to
date has not defined the extent, nor the depth, of this body. In addition, high
grade nickel values associated with coarse pentlandite mineralization were
encountered coincident with interpreted north-south trending shear structures.
Insufficient drilling has been carried out to date to fully define this
mineralization.
Assay results received for K-11-10 and K-11-11 are presented below.
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Hole From (ft) To (ft) Length (ft) Cu % Ni %
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K-11-10 18.6 535.0 516.4 0.329 .064
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including 130.0 190.0 60.0 0.41 0.07
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Including 210.0 265.0 55.0 0.52 0.08
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including 320.0 350.0 30.0 0.42 0.07
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including 385.0 470.0 85.0 0.39 0.09
-------------------------------------------------------------------------
including 495.0 535.0 40.0 0.51 0.10
-------------------------------------------------------------------------
including 550.0 570.0 20.0 0.43 0.11
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including 643.5 685.0 41.5 0.34 0.1
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Hole From (ft) To (ft) Length (ft) Cu% Ni%
-------------------------------------------------------------------------
K-11-11 590 673.9 83.9 0.26 0.06
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Including 645.0 673.9 28.9 0.33 0.1
-------------------------------------------------------------------------
K-11-11 820.0 845.0 25.0 0.42 0.13
-------------------------------------------------------------------------
K-11-11 900.0 965.0 65.0 0.35 0.09
-------------------------------------------------------------------------
Including 915.0 965.0 50.0 0.39 0.1
-------------------------------------------------------------------------
K-11-11 992.3 1055 62.7 0.31 0.07
-------------------------------------------------------------------------
Including 992.3 1030 37.7 0.35 0.08
-------------------------------------------------------------------------
Assays for the balance of the holes drilled will be released as they become
available. The drill plan for this program is depicted below.
http://media3.marketwire.com/docs/caddilac.jpg.
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.
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