|September 16, 2010|
Burnt Hill Sampling Results Received
|Toronto, September 16, 2010 -- Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to announce results from the recently completed prospecting and exploration program on the Burnt Hill Property, a 51% owned tungsten and tin project located near Boisetown, New Brunswick comprised of 661 claims under one claim group over a land area of 10,576 hectares. The four areas sampled in the recently completed program, Tin Hill, McLean Brook, 2 ½ Mile Brook and Todd Mountain are each located some distance from the historical mine site, as can be seen in the map image below.|
The former Burnt Hill Mine has the resource estimate stated below by P&E Mining Consultants Inc. in the "Technical Report and Resource Estimate on the Burnt Hill York County New Brunswick Canada" from August 2009 and filed on Sedar.
Tungsten is the 2nd hardest element, has the highest melting point and is considered to be a strategic metal with numerous industrial and military applications. Tungsten has been deemed a critical raw material by the EU and Japan with approximately 80% of the world supply coming from China. However, recent power cutbacks in China combined with the continued reduction of licensed export amounts which began in 2007 has been affecting the price of tungsten. Additionally, with Chinese exports declining, the banning of mining in three districts of the Democratic Republic of Congo where tungsten is produced, and recently passed U.S. legislation relating to conflict minerals, it is possible that a shortfall in the supply of tungsten may develop. Metal Bulletin, a premium business information service for metal and steel professionals globally, in a Sept. 10th 2010 article titled "Tungsten prices up in Europe on diminishing Chinese supply", states "With so few supply sources outside of China, there is now a very real possibility that there will not be enough material to maintain even present production levels, let alone if the market improves and demand climbs further."
The areas investigated by the Company's recently completed prospecting and exploration program on the Burnt Hill Property are described below.
Tin Hill Sampling Results
There is an approximately 2 acre cleared and washed area at the top of Tin Hill exposing an anastomosing swarm of quartz veins that pinch and swell (.5 to 2 metres wide) alternating with greissen zones (up to 10 metres wide) covering an area approximately 100 metres wide. Abundant coarse wolframite and cassiterite crystals as large as ¾" in size were noted in each of the quartz veins. The mineralization was hosted in both the quartz and the surrounding greissen zone. The quartz veins were traced into the bush for approximately 75 meters to the east and west of the cleared area but were lost in the dense bush and thick overburden. This area was sampled where exposed mineralization was accessible, and a total of 40 samples were taken from this area. Based upon the results received, the continuity of the vein swarm until lost in overlying vegetation, and the location of Tin Hill proximal to the historic Burnt Hill Mine, management believes this prospect warrants further follow up. The results of the 40 samples collected are presented below;
Several historic trenches were identified that coincide with previous mapping work available at the government mining office. Near the bottom of Trench #2 an outcropping quartz vein was identified containing coarse wolframite crystals. Several samples of this material were taken for assay. A previously undiscovered wolframite bearing quartz vein was identified approximately 300 meters south of the Maclean Brook showing, this new vein was exposed in a new gravel road bed. This was sampled for assay. Geologists were unable to determine the strike extent of this new quartz vein due to thick overburden in this area. A total of 11 samples were taken on the Maclean Brook quartz veins, results are as follows;
There is a large cleared and trenched area at the top of Todd Mountain that has been identified in the field. Several grab samples of the exposed mineralization were taken. Geologists traversed the area to the NW searching for outcrops and extensions to the known zone. Although there is very thick overburden cover, they were able to uncover several small outcrops and water filled trenches. A total of 14 bedrock samples were taken on Todd Mountain. No significant results were encountered.
2 ½ Mile Brook
The showing consists of 3 - 50 meter long trenches with exposed bedrock which were prospected and sampled. A silicified meta sediment is exposed in each of the trenches that is strongly mineralized with arsenopyrite. This mineralization consists of massive 2 cm wide bands separated by quartz veining or silicified meta sediments. Prospecting was carried out to the East and West of the trenches for approximately 200 meters laterally in each direction. In the prospected area arsenopyrite bearing meta sediments were identified in outcrop and were sampled. There is often a strong association of Au with arsenopyrite mineralization. A total of 13 samples were taken from the trenches and the newly identified mineralized outcrops.
The Company believes that results encountered at Tin Hill and McLean Brook warrant further work. As a result, it is intended that a further modest program will be carried out this fall to determine the extent of surface mineralization and the relationship between McLean Brook mineralization and Burnt Hill, if any.
Samples were selected by hand in the field and bagged and tagged under the supervision of either Brian H. Newton P.Geo or Dr. Howard Lahti P.Geo. The samples were personally transported by Mr. Newton to the Ancaster facility of Actlabs for assaying by a multi element processing with code UT 7 which includes tungsten and tin, and 1A2 Au fire assay.
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.
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.