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Thierry Project
Thierry Mine Project (historic UMEX underground mine)
The Thierry Mine Property is located in NW Ontario, near the Town of Pickle Lake, is wholly owned by Cadillac and hosts several identified base metal deposits, with the former UMEX Mine (underground) and the K1-1 deposit (open pit) both being currently explored to add to the in place NI 43-101 compliant resources.
In the Fall of 2011 Cadillac released an updated resource calculation for the Thierry Mine project (the historically productive UMEX Mine) which appears below. This updated resource reflects a successful 6 hole deep drilling campaign which targeted an area at the bottom of the known mineralization that had been lacking data, as well as initial step outs from surface to the east and the west of the deposit along strike, with relatively shallow holes. This updated resource was an increase in the Measured and Indicated category of 33% and the Inferred category of 75% over the previously released (July 2010) Resource.
Updated Resource
August 2011 Updated Resource Estimate at a C$46.30/tonne NSR cut-off
| Class |
Tonnes |
Cu % |
Ni % |
Ag g/t |
Au g/t |
Pt g/t |
Pd g/t |
| Measured |
3,033,000 |
1.70 |
0.20 |
4.8 |
0.03 |
0.03 |
0.10 |
| Indicated |
5,248,000 |
1.75 |
0.20 |
4.0 |
0.06 |
0.05 |
0.15 |
| Meas&Ind |
8,281,000 |
1.73 |
0.20 |
4.3 |
0.05 |
0.04 |
0.13 |
| Inferred |
14,639,000 |
1.70 |
0.16 |
6.5 |
0.10 |
0.07 |
0.21 |
- Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
- The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.
- The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
- The July 31, 2011 two year trailing average US metal prices used in this estimate were $3.57/lb Cu, $9.98/lb Ni, $23.87/oz Ag, $1,258/oz Au, $1,605/oz Pt and $557/oz Pd. The C$US$ Exchange rate was 0.98.
- Overall payable metal in the NSR calculation were 84% Cu, 13% Ni and 37% for Ag, Au, Pt & Pd.
- Costs used to determine the C$46/tonne NSR cut-off value are as follows: mining C$28/tonne, processing C$13/tonne and G&A C$5.30/tone.
K 1-1 Project (Open Pit Resource)
Located approximately 3 kms. to the east of the Thierry Mine Project, and on Cadillac's wholly owned property, the K 1-1 deposit has been identified as an open pit resource in the recently released initial resource calculation. The deposit had been historically identified by UMEX during the operation of the underground mine, but had never been operated as a mine. In October 2011 Cadillac announced an inferred mineral resource estimate for K1-1 within a Whittle pit shell consisting of the following: 19,897,000 tonnes grading 0.10% Ni, 0.42% Cu, 2.0 g/t Ag, 0.03 g/t Au, 0.05 g/t Pt, 0.15 g/t Pd.
The Exploration Target for K1-1 located outside and below the resource pit shell are as follows: 45-55 million tonnes grading between 0.08 and 0.12% Ni, 0.32 to 0.36% Cu. The balance of Exploration Target metal grades are presented below.
Table 1: K1-1 Inferred Mineral Resource
| NSR Cut-off |
Tonnes (M) |
Ni % |
Cu % |
Ag g/t |
Au g/t |
Pt g/t |
Pd g/t |
| C$15/tonne |
19.897 |
0.1 |
0.42 |
2.0 |
0.03 |
0.05 |
0.15 |
- Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
- The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.
- The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
- The July 31, 2011 two year trailing average US metal prices used in this estimate were $3.57/lb Cu, $9.98/lb Ni, $23.87/oz Ag, $1,258/oz Au, $1,605/oz Pt and $557/oz Pd. The C$US$ Exchange rate was 0.98.
- Overall payable metal (process recovery x smelter payable) in the NSR calculation were 84% Cu, 13% Ni and 37% for Ag, Au, Pt & Pd.
- Mineral resources were determined within a Whittle pit shell with 50 degree slopes utilizing mining costs of C$2.00/tonne for mineralized material and waste rock, and C$1.50/tonne for overburden.
- Costs used to determine the C$15/tonne NSR resource cut-off value were processing at C$12/tonne and G&A C$3.00/tonne.
- The K1-1 Mineral Resource Estimate were undertaken by Antoine Yassa, P.Geo, Rick Routledge, P.Geo and Eugene Puritch, P.Eng. of P&E Mining Consultants Inc.
Table 2: K1-1 Exploration Target
| Tonnes (M) |
Ni % |
Cu % |
Ag g/t |
Au g/t |
Pt g/t |
Pd g/t |
| 45 - 55 |
0.08 -- 0.12 |
0.32 -0.36 |
1.0 - 2.0 |
0.02 - 0.03 |
0.04 - 0.05 |
0.11 - 0.15 |
The relationship of the two resources on the NE end of the property is as depicted in the satellite photo below.
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