|February 24, 2011|
Cadillac Comments on Initial Assay Results from New Alger Released by Renforth Resources
|Toronto, February 24, 2011 -- Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to provide the following comments on the recent Renforth Resources Inc. ("Renforth") press release disseminated this morning providing initial assay results from the New Alger project. Renforth is the operator and supervisor of exploration for the New Alger project pursuant to a joint venture agreement between Cadillac and Renforth (see press release dated October 14, 2009).|
The assay results released by Renforth are highlighted by a length of 18.2 metres containing an average of 3.10 g/t Au. This intersection includes 8 m of 5.52 g/t Au from drillhole REN-10-05 as noted in the table of assay results below.
As announced by Renforth, to date, complete assay results have been received for 4 of the 9 holes drilled in this program. Renforth has commenced work on a preliminary re-interpretation of the New Alger mineralization, taking into account the occurrence of arsenopyrite. Generally, the previous drill campaign on this property focused on sampling the quartz vein systems and their adjacent areas. Historically, it was thought and found, that the coarse gold on this property was bound to the quartz veining. Due to more recent developments and the known association between gold and arsenopyrite, Renforth focused this drill campaign on sampling all occurrences of arsenopyrite.In some cases this was found to be proximal to the quartz veining. Arsenopyrite was found in all lithologies at New Alger and it is frequently visible in the form of needle-shaped crystals (up to 3mm in length). This was particularly the case within the two primary mineralized bands in the Piché volcanics (notably alongside biotite and blueish quartz veining), and was also found both within and around the veining in the Pontiac and Cadillac greywackes.
Norman Brewster, President and Chief Executive Officer of Cadillac, commented "Cadillac is pleased with the results obtained from New Alger to date. The assay intersections and values are unlike those we obtained previously. We are closely watching the ongoing re-interpretation of this project."
Assay Result Highlights
Samples were selected, bagged and tagged in the field under the supervision of Brian H. Newton, P.Geo, and securely transported to ALS Chemex where the samples were assayed using 35 Element Aqua Regia ICP-AES and Au 30g FA-AA finish, overlimits samples were processed using Au 30g FA-GRAV finish.
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.