|July 08, 2010|
Cadillac Obtains Gold Values in Gossan Sampling Program, Follow-Up RC Drilling to Commence
|Toronto, July 8, 2010 - Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to provide an update on the San Miguel Gossan sampling program, which has outlined a gold bearing gossan zone and which will be subject to a follow-up reverse circulation drill program.|
Under the now complete gossan sampling program, 110 samples were obtained from small, shallow pits dug over the extent of an area of visible gossan mineralization located adjacent to the historically active San Miguel pit. Massive sulphide and gossan mineralization is visible in the exposed rockface as seen in the photo below. This area previously had 19 grab samples taken for both gossan and massive sulphide during the orientative sampling program, for a total of 129 samples obtained on the property.
The samples obtained from gossan and gossan material from stockwork outline an area with a surface of approximately 32000 msq; there are 58 samples within this envelope which returned assays values ranging between 7.22 g/t Au and 0.005 g/t Au as outlined in light blue below; a mean average of these samples is 1.026 g/t Au. The samples were taken from shallow pits dug 20cm below the surface. The overall objective of this program was to obtain a sample of gossan material "in situ", however, in some sample instances the overburden went deeper than the 20cm resulting in a soil sample, and in some instances the material in the sample location was oxidized acidic rock possibly representing shifted material. The area outlined in light blue consists of predominantly gossan samples, as well as some gossan stockwork samples. Certain of these samples were obtained in the previous orientation sampling program on San Miguel. A follow-up reverse circulation drilling program has been designed to determine the thickness, or vertical extent, of the gossan zone. This program has been budgeted and a tender has been called. The program will consist of approximately 20 reverse circulation holes.
The samples, which were obtained in the field under the supervision of Mr. Jose Malave EurGeol, a qualified person as defined by National Instrument 43-101, were bagged and tagged onsite and hand delivered to the Seville sample preparation facility of ALS Chemex. The samples were prepared in Seville and a representative portion of each sample was sent by air to the ALS Chemex facility in Vancouver for processing using the analytical procedure ME-GRA21 which is an Au,Ag 30 gram fire assay with a gravimetric finish. ALS Chemex is an independent accredited lab facility.
Mr. Brian H. Newton P.Geo is a "Qualified Person" pursuant to NI 43-101 and has reviewed and approved the contents of this press release.
Cadillac is a development-focused exploration company which has the past-producing Thierry Property near Pickle Lake in Northern Ontario, several exploration projects in Spain in joint venture with MATSA and three Canadian exploration projects, located in regions that have been historically active.
The Thierry Property encompasses the past producing Thierry Mine which ceased production in 1982 leaving mineralization in situ. In addition to the Thierry mine project, Cadillac wholly owns the New Alger project, a previously productive gold mine, located outside of Cadillac, Quebec, where the Company has entered into a joint venture agreement with Renforth Resources Inc. for a three year $2.5 million exploration program. In Spain, the Company is joint venture partner with Minas de Aguas Tenidas, S.A.U. regarding the exploration of 12 different investigation licenses surrounding the Aguas Tenidas Mine in the Iberian Pyrite Belt of southern Spain. The Burnt Hill Project is a 51% owned tungsten tin project located outside of Fredericton, New Brunswick.
For more information regarding Cadillac, please visit our website at www.cadillacventures.com, or call Norman Brewster, President and Chief Executive Officer, at 416 203-7722.
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.