|August 09, 2010|
Cadillac Signs Diamond Drill Contract in Spain
|Toronto, August 9, 2010 - Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to announce that it has signed a diamond drill contract in Spain with Sondeos y Perforaciones Industiales del Bierzo S.A. ("SPIB"), an industrial drill contractor based in Leon, Spain, for a minimum of 4500m of diamond drilling to commence as soon as possible. The Summer/Fall 2010 diamond drill program in Spain is designed to include 18 holes on the following properties.|
The Chaparrita project is located within the Cuchillares group of mining concessions and adjacent to the historic open pit on the property, approximately 4 km north of the Rio Tinto Mine. The property contains mineralization visible in the open pit and core from recent drilling consisting of massive sulphides and stockworks located at the western end of a gossan and altered volcanics belt of >5km running across the property in a W-E direction. Two holes are planned on line 713.6 in order to delineate an anomaly identified through the surface gravity, IP and geochemical surveys, as well as downhole EM done on holes CH09-02, 03 and 04 delineating a conductor running to the NE of CH09-04. Earlier drilling on the property consisted of 5 holes and included 9.6m of 2.27% Cu and 3.66% Zn (please refer to the press release on February 10, 2010 for program details).
Two holes are planned for the San Eduardo-Soldado project located on the El Soldado Investigation Permit. The site encompasses the San Eduardo massive sulphides that were explored in the 1900's by underground and open pit to a depth of 50m. There has been no modern exploration done in the area. Sampling the open pit returned one sample with 21.5% Zn (see press release on February 18th 2010).
The San Platon project is located on the Buitrera Investigation Permit and consists of massive sulphides that were mined for copper from 1906 to 1934. High grade polymetallic mineralization was left from those operations and is visible in the open pit, this was sampled and one sample returned 4.84%Cu and 21.4 % Zn (see press release on February the 18th 2010). Five holes are planned on this project.
One hole is planned for the Ermitanos project, located on the Cuchillares group of concessions. Ermitanos is a 0.6 mgal gravity anomaly 1.5 Km to the NE of the Chaparrita project which is hosted in strong altered and gossanised rhyolites in an overturned sequence.
La Corte Toscanos
La Corte is located on the Los Toscanos investigation permit located 14 Km SW of the Aguas Teñidas Mine and consists of a gossanised belt with associated EM anomalies identified during a recent survey. The area has ancient workings consisting of one adit and one shallow shaft, three holes are planned for this property.
Two holes are planned to investigate to Balajosa Gossan, located in the Buitrera Investigation Permit. The site contains a gossanised belt that was explored in the early 1900's with one adit and one shaft left on the property. There are gravity and EM anomalies associated with these workings that will be tested with the two holes.
One hole is planned for the Angelita project, which was drilled during the previous program, however unseasonably wet weather made access to the property exceptionally difficult and the last planned hole was not completed, so it is scheduled this round.
Two holes are planned at the historic Esperanza mine which was mined between 1906 and 1931 for copper. High grade polymetallic mineralization was collected in dumps with one sample returning 49.3% Zn (see press release on May 18th 2010). A 0.5mgal gravity anomaly is associated with the mineralization. The area is in the recently granted Esperanza Investigation permit.
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.