News out on Noront's Tungsten deal
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Mar 25, 2008 05:26PM
Discuss the various junior resource companies within the McFaulds Lake Area
Burnt Hill Project Update
Toronto, Ontario – March 25th, 2008 – Cadillac Ventures Inc. (CDEX-CNQ) (“Cadillac”) ispleased to announce the following results from the Burnt Hill Joint Venture with Noront
Resources Ltd.
In the fall of 2007, Cadillac as operator managed an all encompassing program on the
Burnt Hill Project, which expended $1,500,000 on a number of initiatives, under the
onsite supervision of James G. Burns, P.Eng. Included in this expenditure was a
detailed geological mapping program in the vicinity of the former Burnt Hill mine, which
identified several previously unknown surface outcroppings of mineralization and
structural trends on the property. A total of 139 rock samples were taken for analysis.
Also undertaken in the fall of 2007 was a comprehensive compilation of data from all
identified, accessible sources regarding the property, including government, assessment
and private sources. The Burnt Hill Project was increased from 53 claims in 3 different
blocks, to a total of 652 claims in one block. In addition to the staking of these claims,
comprehensive linecutting was carried out on the historic Burnt Hill project area. The
historic core stored in a government facility was re-examined, and portions of 5 holes
drilled in 1979 were relogged, with 314 samples taken. The current drill program
encompasses a total of 23 holes, of which 9 were completed in this program phase, in
conjunction with the work detailed above. A total of 2837m were drilled, all of which
were sampled, for a total of 2669 samples submitted to Activation Laboratories Ltd.
(Actlabs) in Fredericton, New Brunswick for multi-element analysis. This program was
designed with two main targets;
1 – Confirm the known grade and extent of the mineralization identified in the
1979 drill campaign by select fill in holes.
2 – Define the extension of the mineralization along strike, across strike and
down dip.
Logistical considerations affected the decisions as to which of the planned holes were
drilled. Therefore holes 44, 59, 47 (which intersected underground workings) and 67
tested target #1, the remaining 5 holes tested target #2. In these holes, using a cut-off
grade of 0.1% WO3 (tungsten) and 0.02% MoS2 (molybdenum), there were 186
significant intercepts over drill core lengths of 0.2 to 6.0 metres.
Details of the drill programs, and the results of the drill program, are discussed in the 43-
101 report authored for Cadillac, which should be available and filed on SEDAR shortly.
In summary this drill program;
• Shows that the tungsten-molybdenum mineralization is widespread
• Confirmed the 1979 results
• Shows that the mineralization continues along strike, across strike anddown dip from the mineralization historically delineated
• Indicates multiple zones of mineralization
• Indicates that the molybdenite mineralization is more prevalent in thegranite, or sediments close to the granite contact, whereas the tungsten
mineralization is greatest further from the granite contact
• Tin (Sn) mineralization may be associated with either the tungsten ormolybdenite mineralization.
• Tungsten mineralization occurs primarily in quartz/topaz veins, whereasthe molybdenite mineralization is preferentially associated with griesen
zones.
Management is encouraged by the results of this program. The widespread nature of
the mineralization in multiple zones suggests that there is potential for an open pit
operation. As well, previous work in 1980 demonstrated that the mineralization can be
pre-concentrated prior to processing by photometric sorting.
Cadillac will be issuing to Noront Resources Inc. 1,875,000 shares of Cadillac in order to
earn a 51% per cent interest in the Burnt Hill project, pursuant to the joint venture
agreement as amended and previously announced. Cadillac has the option to earn a
further 14% interest in Burnt Hill through the payment to Noront of $500,000 in either
cash or common shares, as determined by Cadillac. The shares issued to Noront shall
be subject to a 4 month hold.
It is the intention of management to further develop the Burnt Hill project by drilling the
remaining planned holes in the summer 2008 exploration season. This program, once
completed, will allow the Company to complete a Resource Estimate on Burnt Hill.
James G. Burns P.Eng, a consultant to Cadillac and a "qualified person" as such term is
defined under National Instrument 43-101, has reviewed and verified the technical
information contained in this press release and has approved the contents of this press
release.
About Cadillac
Cadillac is publicly traded on the CNQ under the symbol CDEX. Currently, in addition to
the joint venture on the Burnt Hill Project, Cadillac also holds the New Alger Project
which encompasses the historic New Alger Mine, located in the highly prospective
Cadillac Break Mining Camp. The New Alger Mine has been sporadically productive but
has not been fully explored or exploited. The property is situated contiguous to the
O’Brien Mine and approximately 300 m to the SE of the LaRonde Mine.
For more information regarding Cadillac please visit our website at
www.cadillacventures.com
Or call Norm Brewster, President at (416)815-8666
Forward Looking Statements
This press release may include certain “Forward-Looking Statements” within the
meaning of the US Private Securities Reform Act of 1995. Other than statements of
historical fact, all statements are “Forward-Looking Statements” that involve such