|August 12, 2010|
Cadillac Signs Diamond Drill Contract for Thierry Mine Project
|Toronto, August 12, 2010 - Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to announce that it has signed a diamond drill contract with Cyr Drilling Ontario Inc. for a drilling program on the Thierry Mine Project in Pickle Lake, Ontario. The program is for a minimum of 5000 metres and will target three areas: (i) drill testing the "tooth" area at depth, which is an area where deep holes have encountered mineralization but where a wide gap was left between the holes, suggesting potential for lateral continuity of mineralization between the pierce points; (ii) step out drilling to the eastern end of the known mineralization where the current model ends abruptly, suggesting that a lack of drill data is the reason for the model ending as opposed to a structural feature; and (iii) a high mag/em anomaly to the southeast of Ponsford Lake. This drilling program is scheduled to commence later this month.|
The dewatering initiative is underway. Water samples from the surface of the existing pits were obtained and tested using a previously designed water treatment strategy. Completion of this testing requires water samples to be obtained from various depths within the pits and shaft. This will confirm the effectiveness of the existing, as well as newer, water treatment techniques. Cadillac will also undertake baseline water testing on the property. Additionally, engineering and rehabilitation work on the riffle pad in place at the discharge site to the settling pond, and engineering and rehabilitation work at the discharge site from the settling pond to Ponsford Lake and the existing spillway in place will be carried out. Since these sites have been sitting inactive they need to be cleaned-up and tested prior to their use in dewatering to ensure they continue to meet their designed purpose. Environmental engineering consultants have been retained to manage this aspect of the project.
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.
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 potentially economic 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 Pickle Lake Gold project held by Cadillac is a land package contiguous to three formerly productive historic gold mines; this project has been joint ventured to Newcastle Minerals Ltd. 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.