|April 05, 2011|
Cadillac Extends Thierry Mineralization Along Eastern Strike
|Toronto, April 5, 2011 - Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to report that assays have confirmed the extension of mineralization at its Thierry Mine project to the east of the known deposit along strike, with the result that the mineralization remains open. This announcement is in addition to the press release of March 17th 2011 stating that the mineralization was extended and open on the western strike of the deposit. Cadillac has now successfully extended the known deposit along strike in both directions, and both directions remain open.|
Norman Brewster P.Geo, President and CEO of Cadillac commented "Cadillac continues to expand the known mineralization at Thierry both along strike and at depth. We are very excited by the positive results we continue to receive at this project. Demonstrating additional mineralization to the east of the former Thierry Mine adds additional value to this project."
Drillholes CV 11-10, CV 11-12 and CV 11-13 successfully intersected copper mineralization to the east, the assays are presented below. These holes were drilled in February 2011 as part of the 2011 shallow drilling program, the completion of this was press released Feb 23rd, 2001. These results demonstrate intersections of a grade and length that are comparable to those existing in the model, including 1.17% Cu over 10 feet in hole CV 11-11, and extend the mineralization along strike. Cadillac is currently evaluating the impact on the exploration plan and resource for Thierry of the positive results demonstrating additional mineralization obtained at depth and along strike to the east and west of the known deposit.
Assay Result Highlights
Samples were selected in the field and bagged and tagged under the supervision of Brian H. Newton P.Geo, and couriered by bonded carrier to the facilities of Activation Laboratories in Thunder Bay Ontario where they were prepped and assayed using Fire Assay ICPOES. Samples which assayed over 1% were then reprocessed using total digestion ICP(Total).
This photo shows collar locations of the shallow exploration holes drilled at the eastern end of the known Thierry mineralization. Assay results for the balance of these holes are still pending, however, visual logging at site records chalcopryrite mineralization and alteration similar to the mineralized zones in other holes.
The fourth deep hole, drilled in to the "tooth" area of the modeled deposit, has been completed. Assay results are pending, the mineralized zone was encountered at depth as expected.
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's Thierry Mine project has a measured and indicated mineral resource of 6.2 million tonnes at a grade of 1.92% Cu, and an additional inferred mineral resource of 8.2 million tonnes at a grade of 1.79% Cu (see the Company's 43-101 compliant report entitled "Technical Report and Updated Resource Estimate on the Thierry CU-NI-PGE Mine Property, Pickle Lake Area, Patricia Mining District, North-Western Ontario, Canada" dated July 2010 and filed on Sedar). In addition the resource includes Nickel, Silver, Gold, Platinum and Palladium. The Thierry Mine is located in Northwestern Ontario, is wholly owned by Cadillac, and was last in operation under UMEX in the early 1980s, leaving significant underground development in place. Since re-acquiring the Thierry Mine project, Cadillac has been focusing on adding to the resource in the immediate area of the mine by drilling a gap in the NI 43-101 deposit model referred to as the tooth, which management has internally calculated contains six million tonnes of material. Presently the fifth of six planned holes is underway. The holes to date have successfully intersected mineralization of a grade and width that supported management's assumption regarding the continuation of the model at depth through the tooth. In addition, drilling along strike to both the east and the west has intersected mineralization outside of the NI 43-101 model. Cadillac's property position at Thierry is large and hosts other exploration targets, including the K1-1 deposit, known from historical drill records which are not NI 43-101 compliant, to be a large, low grade and shallow occurrence approximately three km to the east of the old Thierry Mine shaft, which also had within it higher grade intersections. Cadillac is currently investigating this deposit with several initial drill holes.
International exploration potential is also held by Cadillac, a joint venture partner with Minas de Aguas Tenidas, S.A.U. ("MATSA") regarding the exploration of 12 different investigation licenses encompassing over 230 square kilometers surrounding the Aguas Tenidas Mine held by MATSA (a wholly owned subsidiary of Iberian Minerals Corp.) in the Iberian Pyrite Belt of southern Spain. Each of these licenses hosts visible mineralization and/or evidence of historical mining activities. In order to earn a 90% interest in the entire license package Cadillac has embarked on a survey drill program over several of these licenses which is nearing completion augmented by geophysics. The information produced by this program has been assembled and is guiding management in prioritizing these properties for individual definition campaigns.
The three other projects held by Cadillac consist of: (i) the Burnt Hill Project, a 51% owned tungsten tin project located outside of Fredericton, New Brunswick and where Cadillac obtained positive drill results and new evidence of mineralization at the extents of this large property last summer and which is slated for follow up work in the Summer/Fall 2011 season; (ii) the Pickle Lake Gold project, a land package contiguous to three formerly productive historic gold mines which has been joint ventured to Newcastle Minerals Ltd.; and (iii) the New Alger project located in the Cadillac Break mining camp in Quebec which is a gold project joint ventured to Renforth Resources Inc.
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.