|February 18, 2010|
Cadillac Ventures Obtains Gold and Base Metals Values from Samples on Several Properties in Spain
|Toronto, February 18, 2010 - Cadillac Ventures Inc. (TSXV-CDC) ('Cadillac' or the 'Company') is pleased to present results from a November 2009 surface sampling campaign undertaken over properties and permits which form part of the MATSA Joint Venture in Spain. The sampling program focused on polymetallic massive sulphide mineralization, gold bearing gossans, and waste dumps from historical mining activities. |
The results are:
Polymetallic Surface Sampling Results
Gold Surface Sampling Results
Samples were obtained from the following properties, which are in the noted stages of permitting;
Buitrera Investigation Permit - This permit was granted on February the 10th, 2010 for 3 years with prorogations to 9 years. The license covers the San Platon massive sulphide occurrence which was mined for copper between 1906 and 1934. Polymetallic mineralization is visible in the open pit onsite and in the waste dumps remaining from historical activities. Five grab samples were taken from the property, 2 from the historical open pit and two from the waste dump, these were tested for polymetallics, and one sample was taken from a gossan zone on the property and tested for gold.
El Soldado Investigation Permit - This permit was obtained from a public bid and is awaiting the completion of the administrative process for final granting. This ground encompasses the El Soldado massive sulphide occurrence that was mined for copper between 1907 and 1940 by both open pit and underground methods. Zinc massive sulphide mineralization is visible in the historical open pit area. Two grab samples were taken from this area and tested for polymetallics, one additional grab sample was taken from the gossan dumps and tested for gold.
Cuchillares Mining Concession Group - this Mining Concession is granted and encompasses the Chaparrita massive sulphide occurrence which was mined for copper intermittently between 1855 and 1909 with polymetallic massive sulphide mineralization still visible in the historical open pit. An update on the ongoing exploration program at Chaparrita can be found in the press release of February 10, 2010. In the sampling program three grab samples were taken from the historical pit and tested for polymetallics, two grab samples were taken from the gossan and tested for gold.
Esperanza Investigation Permit - This permit was obtained in a public bid and is awaiting the completion of the administrative process for final granting. The permit encompasses the three historical mining operations. The San Miguel prospect consists of massive sulphides that were mined for copper and gossans that were mined for gold between 1860 and 1970. One grab sample was taken from the gossan and assayed for gold. The Esperanza prospect was an underground copper mine between 1906 and 1931, one grab sample was obtained from the gossan and one from the waste dumps, and both were assayed for gold. Lastly the Angostura prospect was historically mined for copper by both open pit and underground methods, one grab sample was obtained from the gossan dumps and assayed for gold.
San Casiano Investigation Permit - This permit was obtained from a public bid and is awaiting the completion of the administrative process for final granting. This property has indications of copper and nickel mineralization that was investigated by one shaft in 1913, two grab samples were taken from the waste dump onsite and tested for polymetallics.
The samples were selected by hand, bagged and tagged onsite from the locations described in the above table, by either Jose Malave Euro Geol or Brian Newton P.Geo, both of whom are Qualified Persons as defined by National instrument 43-101. The samples were random grab samples of mineralized material in each location. On average the samples were approximately 2.5 kilograms. The samples were then personally delivered to the ALS Chemex preparation laboratory in Seville, Spain where they were prepped and couriered by ALS Chemex to their Vancouver laboratory facility for processing. ALS Chemex is an independent accredited laboratory facility with accredited preparation labs in several countries. The processing method used was Atomic Absorption Spectrometry for the massive sulphide samples, the gossan or gossan dump samples were tested only for gold using fire assays.
The results obtained with this small indicative sampling program, provides the basis for management to design an advanced level of exploration activity on these properties. The process of obtaining land for exploration in Spain is a long one, and there are several administrative stages in the process. Several of the permit areas in the joint venture are still awaiting the administrative completion of the granting process which should take no longer than six months. The next stage of exploration will commence once the permits are fully awarded, and within the context of Cadillac's other exploration plans on the joint venture properties.
Mike Newbury, P.Eng is the independent Qualified Person who has reviewed the technical information in this news release on behalf of the Company.
For further details regarding the MATSA Joint Venture please refer to www.cadillacventures.com.
For more information regarding Cadillac, please visit Cadillac's website at www.cadillacventures.com, or call Norman Brewster, President and Chief Executive Officer, at (416) 203-7722.
Forward Looking Statements
This news release may contain certain forward-looking statements under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as 'may', 'will', 'plan', 'expect', 'believe', 'anticipate', 'estimate', 'intend' and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary licenses and permits and the availability of financing, as described in more detail in the Company's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Cadillac assumes no obligation to revise or update these forward-looking statements except as required by law. All dollar amounts are in Canadian dollars unless otherwise noted.
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