VANCOUVER, Aug. 12 /CNW/ - Cadillac Mining Corporation (TSXV:CQX) is
pleased to announce the commencement of a drilling program of between three
and six core holes of about 200 meters each on the Tuzo Creek molybdenum
prospect located near Beaverdell in south-central British Columbia.
As reported on July 7th, this program comprises the follow-up to
Cadillac's December 2007 Tuzo Creek drilling campaign. It will test for a
north-east extension of a tabular zone intersected in DDH TZ07-04 that carried
molybdenum values over its total length of 173 meters, including 48 meters of
0.074% Mo. DDH TZ07-04, which bottomed in mineralization, was an angled offset
of Amax Explorations' vertical hole DDH 81-05 which intersected 0.060% Mo over
33.5 meters within a broader zone of mineralization. (Cadillac's March 28,
2008 news release provides assay details of the 2007 program.)
Cadillac is further encouraged by the intersection in its 2007 drilling
of broad zones of strongly mineralized breccia carrying elevated (but
sub-economic) zinc values and unusually strong pyrite content, as such zones
are often seen peripheral to molybdenite deposits in British Columbia.
Analyses, as advised by commercial labs, can be expected about a month
after submittal of core samples.
Plans and sections showing details of the Tuzo Creek geological
environment and previous drilling can be viewed on the Company's website.
Cadillac can acquire a 100% interest in the 1746-hectare property by
completing a two-year schedule of cash and share payments to an aggregate of
$90,000 and 1,100,000 common shares. The agreement is subject to a 2%
production royalty that can be purchased for $1,000,000. Cadillac has made an
initial $20,000 payment, and has issued 400,000 shares.
Andre J. Audet, P.Eng, Vice-President Exploration, is the Qualified
Person who has reviewed and verified the technical information detailed in
Cadillac Mining Corporation is a junior resource company focused on the
acquisition, exploration and development of precious and base metal mineral
properties across Canada. Current activities include gold prospects near
Rouyn-Noranda, Quebec and a growing number of base-precious metal projects in
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:
For further information: First Canadian Capital Corp., (866) 580-8891;
Victor Erickson, (604) 684-7300, Email: email@example.com,