|June 23, 2011|
Cadillac Obtains 0.611% Cu and 0.373% Ni Over 52 Feet at K1-1
|Toronto, June 23, 2011 - Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") announces that it has obtained an average of 0.611% Cu and 0.373% Ni over 52 feet from drillhole K-11-07, drilled on the K1-1 deposit located 3 kms east of the Thierry Mine deposit, on the Thierry Project property outside of Pickle Lake, Ontario.|
This hole was logged in the field, with the presence of massive pentlandite crystals noted in the core. Pentlandite, which is an iron-nickel sulphide, is usually formed with a 1:1 ratio of iron and nickel. The crystals, massive in this sample, were smaller and more dispersed when initially observed in the field in the earlier K1-1 drilling carried out by Cadillac. In this instance the samples were selected and rushed for assay on the basis of the size of the crystals. This is the first hole at K1-1 in which the massive crystals have been identified, hosted in a breccia zone. Cadillac has been re-evaluating the historical drilling records from UMEX for further occurrences of a breccia zone, which had already been recognized in the field. Initial observation suggests that there is a breccia zone present along several sections and echoed in the UMEX drilling several hundred feet to the west. However, at this time it isn't possible to comment on the extent or the significance of this zone as a whole.
Assay results from samples taken over a 52 foot section of this breccia zone are as follows.
The samples were selected in the field, cut and bagged, sealed with a security seal and transferred by bonded courier to the facilities of Activation Laboratories Ltd. in Thunder Bay where they were processed using Total Digestion ICP(Total), with the overlimit results further tested by Fire Assay ICPOES, and the gold, platinum and palladium tested by Fire Assay ICP.
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, this program has just been completed, with final results still pending. All of the holes 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.