Cadillac Obtains 1.69% CU and 0.133% NI Over 19.4 Feet in CV-11-05
17 June 2011 - 12:11AM
Marketwired
Cadillac Ventures Inc. (TSX VENTURES: CDC) ("Cadillac" or the
"Company") is pleased to announce initial assay results for
drillhole CV-11-05, the last deep hole drilled into the "tooth"
shaped void at depth on the Thierry Mine Project. The main
mineralized horizon was encountered as anticipated. This zone
included an intersection of 1.69% Cu and 0.133% Ni over 19.4 feet.
Within this zone 3.38% Cu and 0.156% Ni were assayed over 3.9 feet.
Additional assay values are as follows;
----------------------------------------------------------------------------
From (ft) To (ft) Length (ft) Cu % Ni %
----------------------------------------------------------------------------
3878.3 3883.5 5.2 1.76 0.158
----------------------------------------------------------------------------
3883.5 3887.4 3.9 3.38 0.156
----------------------------------------------------------------------------
3887.4 3890.4 3 1.72 0.120
----------------------------------------------------------------------------
3890.4 3892.4 2 0.02 0.004
----------------------------------------------------------------------------
3892.4 3897.7 5.3 0.98 0.148
----------------------------------------------------------------------------
3897.7 3899.7 2 0.85 0.059
----------------------------------------------------------------------------
3878.3 3883.5 5.2 1.76 0.158
----------------------------------------------------------------------------
"We are pleased that this final hole successfully demonstrates
the continuity of mineralization at depth in the void at the
Thierry Mine Project. The exploration update previously released,
combined with the success of the last three holes in the tooth, is
further proof of management's conviction that the Thierry Mine
merits re-opening. This success at depth, combined with the
expansion along strike in both directions, will have a positive
impact on the revised 43-101 resource we have commenced at the
Thierry Mine", stated Norman Brewster P.Geo, President and CEO of
Cadillac.
To view the Current Interpretation of Thierry Mine Project,
please visit the following link:
http://media3.marketwire.com/docs/Current%20Interpretation%20of%20Thierry%20Mine%20Projec2.pdf
Cadillac is presently drilling off the K1-1 project, a separate
occurrence to the east of the Thierry Mine Project on the Thierry
property. The location of the K1-1 deposit relative to the Thierry
deposit can be seen below, with an interpretation of the strike for
both deposits. Additional holes to those depicted have now been
drilled.
To view the Thierry Mine Area Strike, please visit the following
link:
http://media3.marketwire.com/docs/Thierry%20Mine%20Area-Strike.pdf
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.
About Cadillac
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.
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.
Contacts: Cadillac Ventures Inc. Norman Brewster President and
Chief Executive Officer 416 203-7722 www.cadillacventures.com
Cadillac Ventures (TSXV:CDC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cadillac Ventures (TSXV:CDC)
Historical Stock Chart
From Jul 2023 to Jul 2024