CADILLAC MINING CORP. ANNOUNCES RESULTS FROM BREAK PROJECT DRILLING
VANCOUVER, Sept. 13 /CNW/ - Cadillac Mining Corporation (TSXV:CQX) announces that all assay results have now been received for the 830-meter drill program recently completed on its Cadillac Break properties located near Rouyn-Noranda, Quebec. Three diamond drill holes were completed on two separate target areas.
Wasa Project
DDH CM06-12, cored to 383 meters in August of 2006 in unexplored ground covered by glacial drift, identified weak but significant copper and zinc mineralization in the bottom 83 meters of the hole. Cadillac re-entered this hole and extended it to a final depth of 596 meters, where uniform low-grade base metal values persist to EOH. Coring from 300 meters to the bottom of the hole intersected variably textured chloritic alteration, possibly of basaltic origin, that carries strongly anomalous copper and zinc values over the entire interval. Analytical results from 330.5m to 593.4m (262.9 meters) average 267ppm and 279ppm, copper and zinc respectively. This includes sections from 351.2 to 362.0 (10.8 meters) carrying 1250ppm (0.125%) and from 372.1 to 377.3 (5.2 meters) of 2050ppm (0.205%) copper. Zinc values range between 200 and 500ppm.
This approximately 300-meter thick altered zone is comprised of mafic flows, with tuffaceous sections, and minor felsic to mafic intrusions. All display strong chloritic alteration with broad zones of banded black chlorite, and no detectable destructive foliation. Pyrite content is generally low, ranging from trace to 5%. While none of the intercepts are of economic tenor, this zone is interpreted as a feeder system typical of those seen under volcanogenic massive sulphide (VMS) systems in the Noranda Camp.
The Wasa property lies at the intersection of the Horne Creek and Beauchastel faults, which bound the 'prospective' Powel pluton. More importantly, the Horne Creek fault is intimately associated with Noranda Mines' world-class Horne Mine 15km to the east, and the Aldermac deposit 2.5km to the west. These structures and associated splays are currently regarded to have been essential components of a complex synvolcanic plumbing system that focused mineralization in the camp. Accordingly, Cadillac's discovery of an alteration pipe in this context is felt to be significant.
While Cadillac's management believes that this target has potential for hosting VMS mineralization, the relationship between structure, stratigraphy and the timing of deposition in this setting is not yet understood. Consequently, the direction in which any resulting deposit might be sought is enigmatic at this point. The Company therefore plans to conduct a down-hole electromagnetic (EM) survey to identify any potential proximal mineralization, whilst taking advantage of the depth advantage DDH06-12 offers. Depending on results obtained, a follow-up deep-penetrating surface EM survey will be considered, prior to further drilling.
Kekeko East Project
Two NQ core holes were drilled on the projection of the south branch of the Cadillac Break near the northwest margin of Lac Beauchastel. At this location, the Break is obscured by a shallow slab of younger sediments that post-date mineralization. Both holes were drilled from a single set-up, one to the north and a second to the south-east. Both targeted subtle magnetic anomalies identified by the Company in 2004. Results are summarized below:
Hole # | Direction / TD | From(m) | To(m) | Length(m) | Values | Comments |
CM10-21 | 360º @-50º / 292m | 102.0 | 105.0 | 3.0 | 400ppb Au | Weak shear, 3.5% pyrite, cherty quartz, minor tourmaline |
CM10-22 | 135º @-50º / 325m | 306.85 | 311.1 | 4.25 | 2010ppm Cu | Silicified crackle breccia with coarse chalcopyrite |
Gold mineralization in DDH CM10-21, though sub-economic, demonstrates the presence of mineralization in a completely untested section of the Cadillac Break. The copper zone intersected in hole CM10-22 corresponds with a subtle north-east striking magnetic anomaly. This feature is roughly parallel to a set of weak airborne conductors identified by Cadillac in 2004. This system lies under Lac Beauchastel and no record of it appears in Ministry reports.
The Company is considering its strategy as to further exploration of this new target.
In addition to conducting the drill programs described above, Cadillac Mining has received $35,000 from the sale of 17 semi-contiguous claims in northeast Dasserat Township to Mines Richmont Inc., and has retained a production royalty comprising 2.5% of net smelter return. Cadillac drilled three holes in 2006 in the area, and subsequently wrote off the expenditures. All of the costs incurred in respect of the Wasa and Kekeko drilling have been filed as assessment work credits.
Andre J. Audet, P.Eng, Vice-President Exploration, is the Qualified Person who has reviewed and verified the technical information detailed in this release.
Cadillac Mining Corporation is a junior resource company focused on the acquisition, exploration and development of precious and base metal mineral properties in Canada and western USA. Current holdings comprise properties in Quebec and British Columbia.
Statements contained in this release that are not historical facts may be "forward-looking statements". Such statements are subject to risks and uncertainties and other factors which may cause actual developments or results or level of activity or performance to vary materially from those projected by Management.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release, which has been prepared by Management
For further information:
Victor Erickson | 604-684-7300 |
Email: | [email protected] |
Website: | www.cadillacmining.com |
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