TORONTO, ONTARIO -- (Marketwire) -- 06/11/12 -- Cadillac Ventures Inc. (TSXV:CDC) ("Cadillac" or the "Company") is pleased to announce that exploration has resumed at the Thierry Project, where Cadillac recently received a positive Preliminary Economic Assessment Report (PEA).
The current exploration program is composed of drilling and field prospecting/mapping. The drilling program at K1-1 has been designed to both test new areas of the deposit, in order to potentially increase the mineralized resource at K1-1. The field prospecting/mapping program has been designed to provide field testing and sampling of correlated geophysical and coincident magnetic anomalies on the property, outside of the area of the Thierry Mine and K1-1. Norman Brewster, President & CEO of Cadillac states "while the company is focused on the redevelopment of the Thierry and K1-1 deposits, it is considered timely to ground prioritize the existing geophysical anomalies therefore a limited program is being carried out over the summer months".
The anomalies are shown on the map (To view this map, please visit the following link: http://media3.marketwire.com/docs/Thierry_Project.pdf) in green, the Thierry Mine and K1-1 area are in red.
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.
Thierry Mine Deposit
The Thierry Mine is a past producing mine with a current resource estimate consisting of 8.8 million tonnes Measured and Indicated grading 1.66% Cu, 0.19% Ni, 4 g/t Ag, 0.05 g/t Au, 0.04 g/t Pt and 0.13 g/t Pd (3.2 million tonnes Measured grading 1.65% Cu, 0.19% Ni, 4.6 g/t Ag, 0.03 g/t Au, 0.03 g/t Pt and 0.09 g/t Pd and 5.6 million tonnes Indicated grading 1.66% Cu, 0.19% Ni, 3.8 g/t Ag, 0.05 g/t Au, 0.05 g/t Pt and 0.14 g/t Pd) and 14.9 million tonnes Inferred grading 1.64% Cu, 0.16% Ni, 6.4 g/t Ag, 0.10 g/t Au, 0.07 g/t Pt, 0.21 g/t Pd using a cut-off NSR of C$41/tonne (see press release of February 23, 2012). The deposit remains open at depth and to the west
The K1-1 is an open-pit, large tonnage, low grade deposit located approximately 3 km from the past producing Thierry Mine. The Inferred mineral resource estimate for K1-1 within an optimized pit shell consists of the following: 53,614,000 tonnes grading 0.38% Cu, 0.10% Ni, 1.8 g/t Ag, 0.03 g/t Au, 0.05 g/t Pt, and 0.14 g/t Pd at an NSR cut-off of C$11/tonne (see press release of February 14, 2012).
For more information regarding Cadillac, please visit the Company's website at www.cadillacventures.com.
Forward Looking Statements
This news release contains forward-looking statements and information under applicable securities laws, including with respect to the potential increase of the mineralized resource at K1-1. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as 'may', 'will', 'plan', 'expect', 'believe', 'anticipate', 'estimate', 'intend' and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary licences and permits and the availability of financing, as described in more detail in the Company's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and Cadillac assumes no obligation to revise or update these forward-looking statements except as required by applicable law. All dollar amounts are in Canadian dollars unless otherwise noted.
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.
Cadillac Ventures Inc.
President and Chief Executive Officer
|05:18 AM||Lydian International Announces Results of Voting for Directors at Annual and Special Shareholders' Meeting and Resignation of Director|
|05:00 AM||aurionPro SENA Wins Oracle Excellence Award Specialized Partner of the Year: Middleware - UK|
|04:26 AM||Royal DSM, World Vision announce partnership to nourish millions of the world's most vulnerable children|
|04:00 AM||UK Consumers Show Strong Appetite for Sponsored Free or Reduced Mobile Bills|
|03:01 AM||Habanero Acquires Additional Land in Gaspe Bay, Quebec|
|03:00 AM||Pokemon Mystery Dungeon: Gates to Infinity Available Today in Stores and to Download from the Nintendo eShop for Nintendo 3DS!|
|02:16 AM||Statoil: Notifiable trading|
|02:00 AM||Minera IRL Announces Final Community Endorsement of Environmental and Social Impact Assessment, Ollachea Project, Peru|
|12:01 AM||Digital Advertising Agencies Can Improve Efficiency by up to 33 Percent|
|Tue, May 21, 2013|
|08:30 PM||Warm Weather Exacerbates Embarrassing Problem|
|08:12 PM||Rocky Mountain Chocolate Factory, Inc. to Host FY2013 Operating Results Conference Call on Thursday, May 23, 2013|
|08:03 PM||Updated Health Hazard Alert: Certain in Shell Hazelnuts or Mixed Nuts in Shell May Contain Salmonella Bacteria|
|07:30 PM||Strata-X Appoints New Chief Financial Officer and Appoints a New Corporate Secretary in Canada|
|07:13 PM||Parliament Passes Legislation to Combat Nuclear Terrorism|
|07:12 PM||Models and Build-Out Now Selling at William Lyon Homes' The Ranch|
|07:01 PM||EHIC Epic Fail- Parents at Risk of Holiday Nightmare This Summer|
|07:00 PM||Aurcana Adopts Shareholder Rights Plan|
|06:37 PM||Franklin Templeton Limited Duration Income Trust Announces Monthly Dividend and Portfolio Management Changes|
|06:36 PM||Franklin Universal Trust Declares Monthly Dividend|
|06:30 PM||IMX Resources Limited: Mt Woods Exploration Work Plan Agreed|
|06:19 PM||Petrolia Cancels its Engagement Letter Relating to a Private Placement|
|06:14 PM||Oracle Mining Announces JDS Energy & Mining to Produce Feasibility Study|
|06:03 PM||The Future of Your Postal Service|
|06:02 PM||ShaMaran Petroleum Corp.: Annual General and Special Meeting Update|
|06:00 PM||Digital Shelf Space Announces Closing of Final Tranche of Financing|
|06:00 PM||San Gold Announces Changes to its Board of Directors and the Acquisition of Shares in Wildcat Exploration|
|05:33 PM||Alexander Energy Ltd. 11-12-56-27W4 Well Recompletion Tests at 260 BOPD|
|05:23 PM||MEDIA ALERT: Secrets of Design for Yield to Be Explored During 50th Design Automation Conference Pavilion Panel|
|05:20 PM||Phoenix Nurse Claims $1 Million Powerball(R) Second Prize Winning Ticket|
|05:19 PM||Experience Fitness Celebrates National Physical Fitness and Sports Month With Special Offers|
|More Press Releases From Marketwired News Releases|