|August 11, 2011|
Cadillac Commences Burnt Hill Drill Program
|Toronto, August 11, 2011 - Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to announce the commencement of a drill program on the Company's 51% owned Burnt Hill tin, tungsten and moly project located near Fredericton, New Brunswick.|
Phase one of a planned three phase program on the Burnt Hill tin, tungsten and moly project is underway. The first phase consists of approximately 1200 meters of diamond drilling with 7 holes designed to test the down dip extensions of the known mineralized vein systems in and around the Brunt Hill mine site. Should the holes successfully intersect the multiple parallel vein systems as expected, they will infill gaps in the existing model and provide more information for an upcoming resource update. The drilling began on hole BH-11-01 on August 9, 2011. It is expected that this first phase of the program will be completed within 4-6 weeks.
The Burnt Hill Project is one claim block covering more than 10,000 hectares, in joint venture with Noront Resources. This Project encompasses several separate projects, based upon either known historic showings (Tin Hill, Todd Mountain, McLean Brook and 2 ½ Mile Brook) or, the most advanced portion of the property, the Mine Project, a site with a decline in place which was previously operated in the 1980's to a pilot plant stage, an NI 43-101 compliant resource is in situ, with an effective date of August 13, 2009, as presented below.
A second proposed work phase will follow up on a prospecting program carried out last year, which demonstrated and discovered mineralization at several showings across the property. The second phase in fall 2011 is planed to be comprised of surface stripping to expand the surface expression of the Tin Hill tin showing and possibly the Maclean Brook showing. Encouraging results from the 2010 sampling and mapping program demonstrated that the mineralized quartz veins extend beyond the current cleared area to the east and west in each area. Stripping should expose previously unsampled areas providing access for a new sampling program to be followed by several shallow diamond drill holes to test the near surface potential of the mineralized zones. A follow up drill program may be planned based on the results of this phase.
A third phase of drilling at the Burnt Hill mine site area will be planned to test the eastern and western extensions to the mineralization beyond the current modelled solid, that will expand the current resource. Details of this program will be released as the planning phase advances.
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.