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Market: TSX-V
Sector: General Mining - Copper
EPIC: CDC
Latest Price: C$0.15  (0,00%)
52-week High: C$0.25
52-week Low: C$0.14
Market Cap: C$18.66M
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Cadillac Ventures
www.cadillacventures.com

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.

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Cadillac Ventures’ joint venture partner intersects 3 grams per tonne gold over 18 metres

24th Feb 2011, 8:00 pm

Cadillac Ventures’ (CVE:CDC) joint venture partner, Renforth Resources (CVE:RFR) released on Thursday initial assay results from the New Alger gold project in Quebec, Canada.

The assay results released by Renforth are highlighted by a length of 18.2 metres containing an average of 3.10 g/t gold. This intersection includes 8 m of 5.52 g/t gold from drillhole REN-10-05. 

Under the joint venture agreement first announced in October 2009, Renforth Resources has the right to earn a 51% stake in the New Alger project.  To earn the interest, Renforth must pay Cadillac $0.25 million cash and spend a minimum of $2.5 million for exploration at the New Alger project over a three-year period.  Renforth must also issue to Cadillac 2.5 million shares over a two-year period. 

Under the agreement, Renforth is the operator and supervisor of exploration for the project. 

To date, complete assay results have been received for 4 of the 9 holes drilled in this program.

 Renforth has also started a preliminary re-interpretation of the New Alger mineralization, taking into account the occurrence of arsenopyrite, a silver white mineral associated with the occurrence of gold.Arsenopyrite has been found in all lithologies at the New Alger project, Renforth said.

The New Alger project covers the historically productive Thomson-Cadillac mine.  Prior work at the project includes 3900 metres of drilling in 2008, from which 575 samples were taken.  The results of the samples are still pending.

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