VANCOUVER, July 7 /CNW/ - Cadillac Mining Corporation (TSXV:CQX) is
pleased to announce the receipt of a work permit from the Ministry of Energy
Mines & Petroleum Resources for a drilling program of six drill holes on the
Tuzo Creek molybdenum prospect located near the town of Beaverdell in
south-central British Columbia. Drilling is expected to commence within 10
This work is the follow-up to the 780-meter drilling program completed in
December 2007. It is designed to test the extension of a tabular zone
intersected in DDH TZ07-04 that carried molybdenum mineralization over its
total length of 173 meters, and bottomed in mineralization. The hole returned
48 meters of 0.074% Mo within 170 meters that averaged 0.038% Mo. See
Cadillac's March 28, 2008 news release for details. DDH TZ07-04 was an offset
of Amax Explorations' DDH 81-05 which intersected 0.060% Mo over 33.5 meters.
The December 2007 drilling also intersected broad widths of strongly
mineralized breccia carrying elevated but sub-economic zinc values (0.33% Zn
over 103 meters), and unusually strong pyrite as stringers and disseminations
which average approximately 6% over-all. Zones of elevated sulphides are often
seen peripheral to molybdenite deposits in British Columbia.
The 2008 follow-up drilling represents a departure from the model guiding
all earlier work which postulated a westerly mineralized trend along a narrow
corridor. The current program will instead test a north-east extension of
known mineralization along a trend that had not been regarded as prospective
in the past.
Plans and sections showing details of the geological environment 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 300,000 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: firstname.lastname@example.org,