|September 13, 2012|
Cadillac Intersects 225 feet of 0.48% Cu Outside of Whittle Pit Shell at K1-1
Toronto, Sept. 13, 2012 -- Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to release assays from the complete Summer 2012 drilling program on the K1-1 open pit at the Company's Thierry Project, NW Ontario. The drilling program consisted of 7,218 feet designed to deepen and widen the K1-1 Pit. This program has been deemed a success by management as each hole encountered mineralization outside of the current 43-101 compliant Whittle Pit model. These holes returned assayed grades comparable to, or better than, those contained within the current Whittle Pit defined complaint resource, restated below for reference.
"The 2012 drilling to date has been a success in proving additional mineralization outside the current open pit exists. This is the latest in our ongoing success at the Thierry Project, we have added tonnes and shown resources at both the underground Thierry Mine and the K1-1 open pit since Cadillac acquired the 11,538 acre property," stated Norm Brewster, P.Geo, President and CEO of Cadillac.
In the image above the compliant Whittle Pit is grey, the 2012 drillhole traces are depicted as green lines while the mineralized intersections stated above are represented as thickened red areas of the drillhole traces. This image is looking at the ~3750 foot strike length of the open pit, slightly rotated in order to illustrate that the holes are undercutting the pit and within an area where the current model narrows the pit. All of the holes drilled encountered mineralization outside of the current modeled pit.
Current K1-1 Whittle Open Pit Resource
As press released on February 14, 2012, the Inferred mineral resource at K1-1 has been estimated within an economically optimized Whittle pit shell and consists of: 53,614,000 tonnes grading 0.38% Cu, 0.10% Ni, 1.83 g/t Ag, 0.03 g/t Au, 0.05 g/t Pt, and 0.14 g/t Pd.
In addition to this, the K1-1 property contains a global mineralized inventory of 75,857,000 tonnes grading 0.38% Cu, 0.10% Ni, 1.81g/t Ag, 0.02g/t Au, 0.05g/t Pt and 0.14g/t Pd, also press released February 14, 2012. This inventory includes the resource within the Whittle Pit. The difference between the two is mineralization which was identified as occurring on the property, but outside of the economically optimized Whittle Pit. This inventory forms part of the current exploration target.
Cadillac anticipates it will, in the future, be updating the resource at K1-1. At present the Company is focusing on the drill program and will be targeting further positive results outside of the current pit.
Mr. Brian H. Newton, P.Geo, of Billiken Management Services Inc., is a "Qualified Persons" pursuant to NI 43-101 and has reviewed and approved the contents of this press release.
Cadillac is a development-focused copper company currently advancing its 100% owned Thierry Property, near Pickle Lake, Ontario. The Thierry Property consists of the past producing Thierry Mine and hosts two NI 43-101 compliant resources: Thierry Mine and K1-1.
In addition to this Cadillac also holds a 51% interest in the Burnt Hill Project, a historic tungsten/tin mine taken to test production by Mr. Norman Brewster P.Geo for Canadian International Paper during the early 1980's. Cadillac looks forward to resuming the development of this project.
For more information regarding Cadillac, please visit the Company's website at www.cadillacventures.com, or call Norman Brewster, President and Chief Executive Officer, at 416 203-7722.