|March 14, 2013|
Update on Burnt Hill Property
Toronto, March 14, 2013 - Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to provide the following update regarding the Burnt Hill Property, located in central New Brunswick.
Burnt Hill Update
In 2011 Cadillac mounted two small drill programs at Burnt Hill designed to test the lateral extent of mineralized zones identified in drill holes from 1976, 1979 and 2007, and to fill in data gaps within the resource calculated for Burnt Hill in 2009 based upon the 1976, 1979 and 2007 drilling. Cadillac is releasing these results in a consolidated press release today in order to provide information regarding the status of Burnt Hill. The fall/winter 2012 exploration prospecting and drilling campaigns were successful and will be press released following this orientation release.
"Cadillac has recently focused our exploration resources on Burnt Hill, and we are pleased with our success to date. We also feel that a great deal of potential value lies in proving a significant tungsten, tin resource in Atlantic Canada, in a jurisdiction noted for being the world's most attractive jurisdiction for mineral exploration and development in 2012" stated Norman Brewster, President and CEO of Cadillac.
Burnt Hill Resource Estimate
Burnt Hill has a resource estimate in place on the property as follows:
Note: The above resource estimate is reproduced from the "Technical Report and Resource Estimate on the Burnt Hill Deposit, York County, New Brunswick, Canada" dated September 9, 2009, a copy of which can be found under the Company's profile on Sedar.
Cadillac considers this to be a preliminary resource, calculated using the historic drilling, limited drilling in 2007, and a resampling for verification purposes of the historic core. Subsequent to this 2009 resource calculation, Cadillac was focused on the acquisition of and exploration of the Company's Thierry Project.
Consequently, operations at Burnt Hill were limited but sufficient to keep the property in good standing.
Upon the calculation of this resource a future exploration plan was also developed, aimed at further defining the deposit and moving the categorization of the resource from inferred to indicated by drilling in areas of the deposit where the Company's consultants and authors of the above referenced technical report, P&E Mining Consultants Inc., recommended further drilling. In 2011 and again in 2012, Cadillac drilled a number of these holes, In 2012 exploration drilling was also added.
Burnt Hill 2011 Drill Campaign
In 2011 a total of 2330.08m were drilled over a total of 10 drill holes, 1836 samples were taken which included 114 standards, 114 blanks, 114 double splits and 58 coarse rejects. Each of the completed holes successfully intersected mineralization above the cut-off grades used in the resource calculation, with the exception of hole BH-11-07 which intersected an unknown shaft at 11m and was abandoned. Samples selected were assayed for tungsten, tin and molybdenum.
Burnt Hill Collar Location Plan
Drill Hole Highlights
Assay results detailed above represent notable values of specific elements above a cut-off grade of 0.1% W, 0.02% M and 0.03% Sn, lack of a result in a field does not mean no assay value was received, it simply isn't highlighted. Samples were selected in the field from drillcore, the drillcore was sawn in half, with one half bagged, tagged and security sealed in the field under the supervision of a qualified person. The sealed samples were delivered by hand to Activation Laboratories in Fredericton, an ISO Accredited facility, where they were prepped and assayed.
Brian H. Newton of Billiken Management Services Inc. supervised the exploration program and the assaying, and reviewed and approved the technical disclosure in 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, Cadillac also holds a 51% interest (with a right to increase to a 65% 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.
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.