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Exploration activities in Cadillac's property portfolio range from the grass roots stage to resource development projects and are not limited by geographical boundaries. The company holds the right to earn up to 90% interest on 14 separate properties within the prolific Iberian Pyrite Belt of southern Spain and two advanced Canadian projects; the New Alger property which is a gold project in Quebec and Burnt Hill, a tungsten project in New Brunswick.
Cadillac Ventures begins reverse circulation drilling on San Miguel Gossan at Esperanza permit in Spain
Cadillac Ventures (TSX-V:CDC) said Tuesday it has begun a reverse circulation drilling program at the Esperanza investigation permit in southwestern Spain.
The program is designed to define the extent and grade of the recently discovered San Miguel gold gossan, located around the historic massive sulphide pit at Esperanza.
Initially, the gossan was discovered during a grab sampling campaign in May this year, and was further tested in a systematic sampling, which consisted of 110 samples in an area of approximately 500 metres in an east/west direction, and 100 metres in a north/south direction.
Of these 110 samples, 58 returned assay values ranging between 7.22g/t gold and 0.005 g/t gold, the company said. The mean average of these samples is 1.026g/t Au, as announced by Cadillac in July.
Thus far, 20 of 63 planned holes of the RC program have been completed, representing 286 metres of drilling to date.
Cadillac said these first holes have returned gossan material in a range of thicknesses from 5 metres to 30 metres.
In Spain, Cadillac is a 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.
Aside from the company's projects in Spain, it owns the past-producing Thierry Property near Pickle Lake in Northern Ontario, the New Alger project outside of Cadillac, Quebec, and the Burnt Hill Project, a 51% owned tungsten tin project located outside of Fredericton, New Brunswick.
Cadillac also holds the Pickle Gold project comprised of 21 claims in the vicinity of 3 historically productive gold mines near Pickle Lake, and the Kirkland Gold project, located about 15 kilometres west of the town of Kirkland Lake.
