Dewatering process commences at Thierry Mine site
TORONTO, ON, Canada, Feb. 7, 2011 -- Cadillac Ventures has retained AECOM to move forward with project development at the Thierry Mine site...
A diamond drilling program designed to test for shallower extensions of mineralization from the known and modeled deposit, as depicted below, is ongoing. The deeper drill program, targeting the tooth depicted below, consists of 6 planned holes. Three of these holes were completed by the end of 2010, each of those having successfully intersected mineralization where anticipated. The remaining 3 holes will be drilled as planned commencing later in February. After this drilling has been completed an updated 43-101 compliant resource calculation will be undertaken and an independent economic scoping study completed.
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.
Cadillac is a development-focused exploration company which has the past-producing Thierry Property near Pickle Lake in Northern Ontario, several exploration projects in Spain in joint venture with MATSA and three Canadian exploration projects, located in regions that have been historically active.
The Thierry Property encompasses the past producing Thierry Mine which ceased production in 1982 leaving potentially economic mineralization in situ. In addition to the Thierry mine project, Cadillac wholly owns the New Alger project, a previously productive gold mine, located outside of Cadillac, Quebec, where the Company has entered into a joint venture agreement with Renforth Resources Inc. for a three year $2.5 million exploration program. In Spain, the Company is joint venture partner with Minas de Aguas Tenidas, S.A.U. regarding the exploration of 12 different investigation licenses surrounding the Aguas Tenidas Mine in the Iberian Pyrite Belt of southern Spain. The Pickle Lake Gold project held by Cadillac is a land package contiguous to three formerly productive historic gold mines; this project has been joint ventured to Newcastle Minerals Ltd. The Burnt Hill Project is a 51% owned tungsten tin project located outside of Fredericton, New Brunswick. For more information regarding Cadillac, please visit our website at www.cadillacventures.com.