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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 confirms historical data at K1-1 deposit, reports remainder of positive drill results
Cadillac Ventures (CVE:CDC) announced Tuesday the remaining six assay results for its K1-1 deposit on its Thierry mine copper property, located outside of Pickle Lake, Ontario, which confirm the historical data for the project.
Beginning in March, the company drilled a total of 16 holes at the K1-1 deposit to confirm historical holes, and to facilitate the calculation of an NI 43-101 compliant resource for the deposit, which remains open.
Notable results include 25 metres grading 0.42% copper and 0.13% nickel, and 65 metres at 0.35% copper and 0.09% nickel in hole K-11-11, while hole K-11-12 returned 385 metres grading 0.24% copper and 0.07% nickel, including 0.35% copper and 0.08% nickel over 68.8 metres.
Assays from hole K-11-13 also found 45.9 metres at 0.36% copper and 0.13% nickel, including 0.52% copper and 0.18% nickel over 15.9 metres, while hole K-11-14 returned 242.5 metres at 0.25% copper and 0.1% nickel, including 0.3% copper and 0.11% nickel over 165 metres.
The final hole, K-11-16, returned 360 metres at 0.27% copper and 0.11% nickel, including 45 metres grading 0.39% copper and 0.17% nickel, and 50 metres grading 0.4% copper and 0.07% nickel.
Earlier this month, the Toronto-headquartered miner reported an increased resource estimate for its Thierry Mine project by 33% in the measured and indicated category and 75% in the Inferred category over its estimate from May of last year.
The updated NI 43-101 compliant mineral resource estimate for the Thierry mine, excluding the K1-1 deposit which has yet to be quantified, consists of 8.281 million measured and indicated tonnes grading 1.73% copper and 0.20% nickel, and 14.639 million Inferred tonnes grading 1.70% copper and 0.16% nickel.
In May of 2010, Cadillac said the project had a resource of 6.227 million tonnes measured and indicated grading 1.92% copper and 0.20% nickel, and 8.379 million inferred tonnes grading 1.79% copper and 0.16% nickel.
