|April 27, 2011|
Cadillac Provides Exploration Target Addition To Thierry Resource Estimate
|Toronto, April 27, 2011 - Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to provide an "Exploration Target" addition to the current NI 43-101 compliant resource estimate at the Thierry Mine property in northwestern Ontario. The completion of the first three holes at Thierry, drilled into the tooth target area between August and December 2010, has been calculated by P&E Mining Consultants Inc. and is summarized below:|
The potential quantity and grade of the Exploration Target addition is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the discovery of a mineral resource.
States Norman Brewster, P. Geo, President & CEO of Cadillac "We are impressed with the impact these initial 3 holes drilled into the tooth target area have on the resource expansion potential at Thierry, and are looking forward to the updating of the 43-101 resource estimate this summer based upon the balance of the successful drill program currently ongoing at Thierry."
The results from holes CV-10-01, CV-10-04, CV-10-06b which forms the basis of the Exploration Target addition stated above have been previously press released. Not included in this update are the tonnage impacts of the holes drilled along strike to the east and west. All of these holes intersected mineralization as press released. In addition, not included in this update is the tonnage impact of the 4th and 5th hole drilled into the tooth target area, both of which intersected mineralization as press released. Those results are not yet available but will be press released as soon as possible. The 6th and last planned hole into the tooth target area has recently commenced drilling.
Mr. Eugene Puritch P.Eng. of P&E Mining Consultants Inc. and a "Qualified Person" pursuant to NI 43-101 has reviewed and approved the technical information in this press release.
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 8.4 million tonnes at a grade of 1.79% Cu (see the Company's NI 43-101 compliant report titled "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 to Copper, the current 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 current deposit model referred to as the tooth target area,. Presently the last of six planned holes is being completed. 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 target area. In addition, drilling along strike to both the east and the west has intersected mineralization outside of the current resource 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.