|May 19, 2011|
Cadillac Intersects 33.40 Feet Of 1.42 % Cu At Depth At Thierry
|Toronto, May 19, 2011 - Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to provide assay results for the CV-11-02 and CV-11-03 deep holes successfully drilled into the "tooth" at depth at Thierry, including 2.12% Cu over 8.2 feet in CV-11-03.|
Both drillholes encountered the mineralization at depth as predicted by the model. Assay values obtained include;
To date, Cadillac has completed 5 of 6 holes targeting the tooth shaped void at depth in the modeled Thierry mineralization. Depicted below in blue are the 3 holes forming the "Exploration Target Update" at Thierry (press released on April 27th 2011) where the successful drilling is stated as conceptually adding tonnage to the existing resource. The drillholes in green consist of the 2 in this press release, and the 6th and final hole currently being drilled in the tooth. Upon conclusion of the current drillhole, anticipated to occur within the next week, the Thierry resource will be restated incorporating the strike extension drilling to the east and the west and the drilling into the tooth. States Norman Brewster P.Geo, President & CEO of the Company, "Cadillac is anticipating a positive impact on the resource picture at the Thierry mine site, based upon the continued positive results obtained in the resource expansion drilling program."
Upon the conclusion of the 6th and final hole into the tooth, Cadillac will be pursuing 2 additional targets at Thierry. Initially, the deep rig onsite will be moving back to the area of the eastern extension drillholes, and at the approximate middle of the extension a hole will be drilled to test for depth continuity of the model to the east approximately 300 feet below the existing intersections. At K1-1, at the end of this month, Cadillac will be mobilizing a smaller drill rig to commence a drill program on the K1-1 historic resource, following up on the 3 holes which successfully twinned historic holes (press released on May 5th and 6th, 2011). This program will consist of approximately 3000 metres of drilling, and is designed to test for lateral extension to the existing K1-1 model (depicted in the press releases of May 5th and 6th, 2011), as well as to test the area under the known model for extension at depth.
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.
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 final 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.