|January 20, 2011|
Third San Platon Hole Averages 1.3 g/t Au and 0.61% Cu Over 19.05 Metres
|Toronto, January 20, 2011 -- Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to announce assay results from the third shallow hole in the ongoing drill program on the San Platon project which assayed an average of 1.3 g/t Au 0.61% Cu over 19.05 metres, as presented below.|
The demonstrably polymetallic San Platon project has seen positive assay results for all three of the holes drilled on this project to date. The most recent intersections presented above are interpreted to be gold carried in enriched pyrite in a stockwork system, thereby providing additional evidence of San Platon as a classical VMS deposit. This hole, which was planned to intersect an historic copper zone, instead hit partially rubble filled voids between 282.4 m to 287.6 m down the hole, and again at 289 m to 295 m down the hole. Samples in these areas did return partial copper values as seen below, however this area was mined historically. The San Platon massive sulphide deposit was mined intermittently for copper between 1906 and 1934 ( Pinedo Vara Piritas de Huelva 1963) producing 900,000 mt of ore. Due to a lack of metallurgical treatment capability at the time, only copper mineralization was mined, polymetallic mineralization was frequently left unmined. Treatment capabilities today generally allow all metals to be recovered from polymetallic mineralization. The same author, Pinedo Vara, reports a historically identified polymetallic resource at San Platon, Cadillac is investigating this reported occurrence.
In addition Cadillac is pleased to announce that drilling has recommenced for 2011 on the San Platon project, proceeding with the planned program.
Complete assay results for samples taken from drillhole SP-10-03 are:
The samples, which were selected 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. ALS Chemex is an independent accredited lab facility.
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 owns 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.