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Cadillac Ventures drills 582ft of 0.39% copper at K1-1 deposit on Thierry property

May 05, 2011 2:50 PM ET
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Cadillac Ventures (CVE:CDC) announced Thursday results for three drill holes on its Thierry copper mine project in northwestern Ontario, including 582 feet of 0.39% copper.

The three holes were from the shallow K1-1 deposit on the property, which, despite being on the same claim, is a separate occurence from the Thierry Mine project currently being drilled by Cadillac.

Other notable results include 173.5 feet at 0.27% copper; 130 feet at 0.35% copper, and 90 feet at 0.58% copper, including 30 feet at 0.92% copper.

The company said that initial interpretation of the results suggests multiple horizons of mineralization.

"K1-1 demonstrates exciting potential as a large tonnage, low grade shallow copper occurrence on the Thierry property," said president and CEO Norman Brewster.

"This mineralization, when added to the known resource at Thierry, has implications for the Thierry project which cannot be ignored, so Cadillac is now turning its attention to defining an NI 43-101 compliant resource statement at K1-1."

As such, the company is planning an extensive drilling campaign to test for strike and depth extensions of the mineralized body, as well as to confirm historic drill results. Drilling is to due to start this month.

Currently, Thierry has a measured and indicated mineral resource of 6.2 million tonnes at a grade of 1.92% Cu, and an additional inferred resource of 8.4 million tonnes at a grade of 1.79% Cu.

The Thierry mine was last in operation under UMEX in the early 1980s, leaving significant underground development in place. Since re-acquiring the project, Cadillac has also been focused on adding to the resource in the immediate area of the mine, by deep drilling a gap in the current deposit model, referred to as the tooth target area.

The sixth and final planned hole of this deep drilling program is currently underway.

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