Cadillac Ventures Inc.
TSX VENTURE : CDC

Cadillac Ventures Inc.

May 03, 2010 08:00 ET

Cadillac Obtains 6.87 gpt Au from Gossan-Sulphide Contact Zone on San Miguel Gossan, Esperanza Investigation Permit Area

TORONTO, ONTARIO--(Marketwire - May 3, 2010) - Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") is pleased to report the following initial assays from a regional orientation sampling program ongoing over the 12 license areas which form Cadillac's Joint Venture with MATSA in the Iberian Pyrite Belt of Southern Spain. This includes a 6.87 gpt Au result obtained from a sample selected from the exposed contact zone of the San Miguel Gossan located on the Esperanza investigation permit. The ongoing regional sampling program is focused on obtaining a number of samples from both the VMS mineralization outcropping and exposed in stockworks on several of the properties and from the gossan mineralization exposed on the various properties. Assay results have been received for the initial gossan samples to date and are as follows;

    ANALYTICAL RESULTS
DESCRIPTION SAMPLE Kg Au gpt Ag gpt
San Miguel Gossan, P.I. Esperanza E006901 1.22 0.15 <5
San Miguel Gossan, P.I. Esperanza E006902 2.42 0.47 8
San Miguel Gossan, P.I. Esperanza E006903 2.16 2.04 10
San Miguel Gossan, P.I. Esperanza E006904 4.55 2.99 15
San Miguel Gossan, P.I. Esperanza E006905 2.66 2.81 27
San Miguel Gossan, P.I. Esperanza E006906 2.27 2.02 112
San Miguel Gossan, P.I. Esperanza E006907 2.12 0.62 40
San Miguel Gossan, P.I. Esperanza E006908 3.99 1.73 11
San Miguel Gossan, P.I. Esperanza E006909 2.69 1.95 11
San Miguel Gossan, P.I. Esperanza (Contact gossan-sulphide) E006910 1.09 6.87 86
Angostura Gossan, P.I. Esperanza E006911 2.72 1.32 5
Angostura Gossan, P.I. Esperanza E006912 2.68 0.29 <5
Angostura Gossan, P.I. Esperanza E006913 2.89 3.19 10
San Platon Gossan, P.I. Buitrera E006914 2.78 4.3 36
San Platon Gossan, P.I. Buitrera E006915 1.55 6.57 51
San Platon Gossan, P.I. Buitrera E006918 1.35 38.6 94
San Eduardo Gossan, P.I. El Soldado E006927 1.71 3.42 12

These samples were obtained onsite either by or under the direct supervision of Mr. Jose Malave Mora, Euro Geol. Specifically, sample #E006910 was obtained, bagged and tagged onsite by Mr. Norman Brewster, P.Geo and President of Cadillac. The sample program is being executed under the supervision of Mr. Brian H. Newton, P.Geo and President of Minroc Management Limited. Each of Mr. Malave, Brewster and Newton are "qualified persons" as defined by National Instrument 43-101. The samples were personally delivered to the ALS Chemex preparation facility in Seville under seal by Mr. Malave where they were processed by ALS Chemex which includes the crushing of each sample and a representative sample of that material being prepared. These were sent by air express courier by ALS to their accredited laboratory facility in Vancouver, Canada where the samples underwent the Au-AA23 (Au 30g FA-AA finish) process.

San Miguel Gossan, P.I. Esperanza

Management of Cadillac is encouraged by the results obtained from the regional orientation sampling on the Esperanza investigation permit. These samples were all obtained in the area of the historical San Miguel Mine which was active in the period between 1860 and 1970 producing both copper from massive sulphides and gold from gossans. Below is a satellite photo image of the area indicating where the samples were obtained.

To view figure 1, please visit the following link: http://media3.marketwire.com/docs/cdc503fig1.pdf

The breadth of sample distribution and the results obtained warrants, in the opinion of management, a follow up systematic grid sampling program over the entire extent of the visible gossan mineralization. At present the gossan is seen on surface over an area that is approximately 400 metres long in an east-west direction and 100 metres wide in a north-south direction. The gossan is estimated to be approximately 30 metres thick as seen in one area where the historic mining activities cut into the face of a hill to remove underlying material. Rio Tinto is known to have mined both the sulphides in the mineralization and stockworks for copper and the gossans for gold at this location. In the photo below the gossan can be seen overlying the stockwork and mined massive sulphide mineralization. Samples were taken from the exposed gossan stockwork in this picture which are presently being assayed for gold, Cadillac intends to make these results public once available.

To view figure 2, please visit the following link: http://media3.marketwire.com/docs/cdc503fig2.pdf

Mr. Brian H. Newton P.Geo, 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 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.

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 Burnt Hill Project is a 51% owned tungsten tin project located outside of Fredericton, New Brunswick. The Company also holds the Pickle Gold project comprised of 21 claims in the vicinity of 3 historically proactive gold mines near Pickle Lake, and the Kirkland Gold project, located about 15 kilometres west of the town of Kirkland Lake.

For more information regarding Cadillac, please visit our website at www.cadillacventures.com.

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.

Contact Information

  • Cadillac Ventures Inc.
    Norman Brewster
    President and Chief Executive Officer
    416 203-7722