Cadillac Ventures Inc.

Cadillac Ventures Inc.

May 02, 2013 08:00 ET

Cadillac Ventures Inc.: Update on Burnt Hill Property

TORONTO, ONTARIO--(Marketwired - May 2, 2013) - Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") is pleased to announce the discovery of polymetallic veining consisting of silver and copper at the Burnt Hill Property, located in central New Brunswick. In the Fall 2012, the surface prospecting and exploration portion of the program led to the discovery of polymetallic mineralization at the new "Big Bad Wolf" showing and the newly named "Q60 Hill" showing, which to Cadillac's knowledge is the first discovery of polymetallic mineralization at Burnt Hill. The discovery of a polymetallic phase of mineralization at Burnt Hill suggests a more complex mineralization, with parallels to the mineral systems found in Cornwall, which exhibit similar setting and age relationships.

"Big Bad Wolf" Discovery

Recent road construction on the property uncovered intact and broken bedrock, inspection of this fresh rock led to the Big Bad Wolf discovery adjacent to the road, where quartz bedrock fragments were observed over a 20 metre section to contain wolframite, magnetite and magnetite-dominated polymetallic sulphide-oxide agglomerations. Mineralized quartz veins are observed to be up to 50 cm thick with veining traceable over 300 metres of strike length hosted within quartz-porphyritic microgranite. The vein sets have an azmuth of 120° which is the same lineament as the veining at the Burnt Hill Mine site, located approximately 5 kms due west from this discovery location.

Samples obtained in the field did not have visual indication of either silver, copper or in some instances tungsten, but examination with a handheld XRF analysis tool evidenced values which prompted the selection of samples for conventional assaying at a lab. The results of these samples are given below and include 33.3 g/t Ag in one sample and 0.24% Cu in another sample. Tungsten and Tin values are also present.

Based upon the success of the surface exploration and prospecting at Big Bad Wolf four 50 metre long trenches intersecting the observed joints and veins at 90° were dug using an excavator in order to expose these and any other veins; however the onset of heavy snows prevented sampling of these trenches. Prior to the cessation of work coarse wolframite was observed in bedrock during preliminary trench investigation.

Cadillac intends to shortly recommence work in the area which will continue the investigation of the polymetallic discovery at Big Bad Wolf with the clean out and sampling of the existing trenches plus excavation of any additional trenches required to prepare drill targets.

Sample Ag g/t Cu ppm Zn ppm Sn % W %
590305 1.4 169 15 0.011 2.92
590306 <0.3 61 24 0.009 1.89
590307 6.3 2490 109 0.06 0.077
590311 2.6 156 23 0.456 0.026
590312 33.3 126 133 0.012 0.306
590317 4.2 525 1650 0.022 0.001
590318 2.1 256 403 0.166 6.99

"Q60 Hill" Discovery

One kilometer north of the Big Bad Wolf discovery is Q60 Hill, which was previously prospected but unnamed until now. This location was historically recorded as hosting cassiterite and wolframite in float near the hilltop. In this campaign the hill was visited with samples obtained from both float and bedrock, with one sample in particular returning high silver values. This sample was obtained from blowdown, within the roots of a toppled tree, at the summit of Q60 hill. It is not definitive that the source for the blowdown sample is local (gold and silver bearing fragments of drift have been found historically in a wide area and have been difficult to trace) however the existence of silver at Big Bad Wolf and in the bedrock sample from Q60 make it appear likely that the source of the blowdown sample is local. During the upcoming program the Q60 Hill area will be systematically prospected and trenched.

Sample Sample Description W % Ag ppm
590285 Quartz granite 0.003 2.4
590286 Blowdown 0.339 52.8
590297 Float 0.279 3.5

The Burnt Hill property consists of 11,000 hectares and although historical prospecting activity was carried out during the 1970s work largely focused on the Burnt Hill mine site. During the 2012 season Cadillac investigated several independent sites along the Burnt Hill intrusive with the surrounding county work and immediately within the intrusive host.

All of the sites examined showed occurrences of tin and or tungsten mineralization and warrant further investigation.

Presently Cadillac is updating the resource model for the Burnt Hill deposit with results from 16 recent drill holes not previously included in the existing 43-101 resource.

Field samples reported on above were selected by hand in the field based upon the known or suspected (through use of the XRF) presence of mineralization, and were bagged in the field. A unique tag was placed in each bag with the sample material and the bags were individually sealed with cable ties. The sealed bags were packed in rice bags and transported by program personnel to Activation Laboratories (Actlabs) of Fredericton, New Brunswick. Samples were tested by Na2O2 fusion and ICP-MS for tin, tungsten and molybdenum, as well as the "1F2" ICP package for a wide suite of other elements and "code-8" four-acid digestion on any overlimit samples. The sampling program was carried out under the supervision of Brian H. Newton, P.Geo.

Brian H. Newton, P.Geo, a qualified person pursuant to the guidelines laid out in National Instrument 43-101 has reviewed and approved the technical disclosure in this press release.

About Cadillac

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.

In addition, Cadillac also holds a 51% interest (with a right to increase to a 65% interest) in the Burnt Hill Project, a historic tungsten/tin mine taken to test production by Mr. Norman Brewster P.Geo for Canadian International Paper during the early 1980s. Cadillac looks forward to resuming the development of this project.

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.

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