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Cadillac Ventures Announces Initial Spanish Drill Results
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Wednesday, February 10, 2010
Cadillac Ventures Announces Initial Spanish Drill Results
_____
View News Release in PDF Format
Toronto, February 10, 2010 - Cadillac Ventures Inc.
(TSXV-CDC) ("Cadillac"
or the "Company") is pleased to present a progress report on the current
drilling program being carried out on the MATSA Joint Venture properties in
Southern Spain.
Cadillac has commenced drill testing three properties,
Chapirita, Angelita and Majada.
The results of the program are summarized
below and the present program will continue to the completion of the
contracted 3,500 metres of drilling, at which time results will be
evaluated.
Chapirita
The Chapirita project is within the Campofrio Mining Concession
(Chuchillarejos Group) and is centred on an historical open cut remaining
from former mining activities carried on intermittently between 1855 and
1909.
The project is located approximately 4 km ENE from the former Rio
Tinto Mine, and approximately 24 km ESE of the Aguas Tenidas Mine owned by
Iberian Minerals Corp.
Non NI 43-101 compliant historical records available
indicate that 70,000 tonnes of material grading between 2% and 12% Cu were
extracted.
Massive suphide mineralization comprised of sphalerite and
chalcopyrite up to several metres wide is visible on the pit wall.
No
historical records are available to indicate the extent, trend or repose of
this visible mineralization, or any associated stockworks.
Cadillac
completed a 5 hole drill program where holes 3 and 4 intersected the
mineralized horizon, holes 1, 2 and 5 were investigational, representing
efforts to reach the mineralized horizon which instead intersected stockwork
mineralization overlying the massive sulphide occurrence.
Selected assay
results from this drilling are presented below.
Hole #
DIP
>From
To
Length ( m)
Cu%
Zn%
Pb%
Au gm
Ag gm
CH0902
-45
121.50
126.00
4.50
0.27
0.56
0.0147
1.5
6.3
CH0902
-45
184.50
187.50
3.00
0.01
0.38
0.13
0.009
0.25
CH0902
-45
302.00
310.00
8.00
0.09
3.68
0.15
0.04
4.09
CH0903
-50
71.00
77.40
6.40
0.06
0.22
0.06
0.02
2.34
CH0903
-50
80.00
92.00
12.00
0.11
0.02
0.0046
0.0391
2.3
incl.
80.00
83.00
3.00
0.63
1.91
incl.
85.80
87.00
1.20
0.65
3.77
CH0903
-50
161.70
179.80
18.10
1.50
2.57
0.27
0.07
8.18
incl.
163.50
173.10
9.60
2.27
3.66
0.4
CH0904
-50
126.35
126.85
0.50
3.5
0.98
0.34
0.456
32.8
CH0905
-50
7.00
10.00
3.00
0.33
0.16
0.02
0.102
14.4
CH0905
-50
20.50
27.50
7.00
0.41
0.32
0.03
0.04
3.00
incl.
21.50
24.50
3.00
0.65
0.23
Note: The mineralization intercepts represent core length, true widths have
not been calculated.
These results appear to indicate structural dislocation within the
mineralizing system and possible fault thrusting activity.
To better
understand the effects these structural events may have had on the
mineralized horizon, Cadillac conducted downhole EM surveys in holes 3, 4
and 5 in order to identify possible continuation of the mineralized horizon
through conductivity, and identify any possible off-hole conductors.
This
survey successfully identified two off-hole conductors to the east of the
completed drilling.
Cadillac intends to drill at least one hole into one of
these targets prior to the completion of the current drill program.
Angelita
The Angelita project encompasses the former Angelita Mine, and is located
within the Santo Angel Mining Concession (Cueva de la More Group),
approximately 5 km east of the Aguas Tenidas Mine.
Available records, which
are historical and not in compliance with NI 43-101, indicate that the
Angelita Mine produced 540,000 tonnes grading approximately 6% Cu plus an
additional approximately 600,000 tonnes grading approximately 2% Cu.
A prior
technical report authored in 1982 (this report is historical and not NI
43-101 compliant) does indicate mineralization still in place, and
management has used this report as a basis for decisions made in the
exploration program at Angelita.
Over the Christmas period Cadillac
commenced operations on the property, however unusually high ongoing
precipitation in an area that is typically arid made travel on the ground
impossible.
Two holes were completed on the property, but access to the
third planned hole proved difficult, so the drill rig was moved to another
property.
Cadillac is awaiting the results from the two holes completed, and
will revisit this property once conditions have improved, and results of the
first two holes are evaluated.
Majada
The Majada project occurs within the Majada Investigation Permit,
approximately 17 km ESE of the Aguas Tenidas Mine.
The property is located
on strike with the Aguas Tenidas - Cueva de la Mora mineralization trend,
and is contiguous with the Cuchillarejos Group to the east.
Numerous holes
have been drilled into Majada by previous operators, however there is no NI
43-101 complaint statement that can be made regarding the extent or grade of
mineralization present.
Cadillac is currently drilling the first planned
hole at Majada.
Cadillac has drilled approximately 2,700 metres combined on the three
projects to date, and will complete the 3,500 metres contracted with Cabo
Drilling International as discussed above.
The drill results, in conjunction
with ground geophysical surveys and downhole EM surveys will all be
evaluated in order to allow management to focus further exploration on the
MATSA Joint Venture Properties.
The onsite supervision of the diamond drill program was done by Jose Malave
Mora, Euro Geol under the supervision of Brian Newton P.
Geo as Qualified
Person.
The diamond drill program produced 225 core samples of 1.5 meters
long on average.
The cores were cut by saw and 50% sent for assay at ALS
Chemex Laboratories in Seville Spain an independent accredited assay lab.
The assay procedure was Atomic Absortion Spectometry (Aqua Regia Digestion).
The lab undertakes batch duplicates and replicates for quality control in
their analytical procedures.
Mike Newbury, P.Eng is an independent Qualified Person who has reviewed the
technical information in this news release on behalf of the Company.
For further details regarding the MATSA Joint Venture please refer to
www.cadillacventures.com .
Forward Looking Statements
This news release may contain certain forward-looking statements under
applicable securities laws.
Specifically, this news release contains
forward-looking statements regarding the Companys planned drilling
activity.
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.
Forward-looking statements 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 Companys 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.
Cadillac assumes no obligation to revise or update these
forward-looking statements except as required by law.
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.
View News Release in PDF Format:
http://www.cadillacventures.com/i/pdf/2010-02-10_NR.pdf
140 KB in size, approx.
27 seconds to download at 56.6Kbps
You can also view this News Release on our website at:
http://www.cadillacventures.com/s/NewsReleases.asp?ReportID=384603
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