Cadillac Commences Review of Kirkland Lake Gold Property
TORONTO, ONTARIO -- (Marketwire) -- 02/22/13 -- Cadillac Ventures
Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") is pleased to
announce the commencement of an internal review of Cadillac's
Kirkland Lake Gold Property. The property, which Cadillac acquired as
part of its acquisition of Richview Resources Inc. in January 2010,
is located west of the town of Kirkland Lake, Ontario, within four
kilometres of the producing Macassa Mine.
A preliminary review of Ontario Assessment records and a technical
report filed on SEDAR under Richview's profile, has led Cadillac to
form the following initial conclusions:
-- The Kirkland Main Break (04) has been mapped to within 500 metres of the
eastern side of the southern part of the property.
-- The Larder Lake Break is within 100 metres of the southern boundary of
-- The southern portion of the property is underlain by Timiskaming-Type
Clasitc Metasedimentary rocks, the same rock type which underlies many
of the mines and deposits on the Kirkland Main Break.
-- Previous work done on the southern portion of the property included
detailed mapping of the property which uncovered the contact between the
Temiskaming and Huronian sediments, which is interpreted to be a fault,
located about 150m south of and parallel to Highway 568. This feature
may relate to the Kirkland Main Break (04) to the east, with a similar
-- The property encompasses the historic Four Nations Shaft. The Four
Nations area has seen several exploration campaigns carried out, which
included the deepening of the shaft to 536 feet (163 m), with lateral
development on several levels between 1926 and 1928, along with surface
trenching. This work, and subsequent drilling, were all focused on
several gold bearing zones identified in the early 1900's. Records of
exploration results are not all presently available to Cadillac, however
reference has been found to early trenches defining a 200 foot (61m)
strike length of 0.25 oz/T (8.57 g/t) Au over an average width of 7.8
feet (2.38 m) (source: "Technical Report on the Kirkland Lake Gold
Property, Grenfell Township Larder
Lake Mining Division, Ontario" by
Howard J. Coates M. Sc., P.Geo.).
At the time of Cadillac's acquisition of Richview, Richview had
carried out limited exploration on the property which it did not
pursue. Cadillac has commenced an internal review of this property
and the planning of initial fieldwork in the spring.
"Cadillac is intrigued by the potential of this property. The
compelling geological setting, the historic activity and location of
the property all merit Cadillac's exploration attention. We look
forward to developing this asset further," stated Norman Brewster
P.Geo, President and CEO of Cadillac.
Information regarding the Kirkland Lake Gold Property contained in
this press release has been derived from the above referenced
Technical Report or the following publicly filed report: "Assessment
Report on the Kirkland Lake Gold Property (South Area) Grenfel
Township Larder Lake Mining District Ontario" by Aung Myint Thein M.
Cadillac is a development-focused copper company currently advancing
its 100% owned Thierry Property, near Pickle Lake, Ontario. The
Thierry Property consists of the past producing Thierry Mine and
hosts two NI 43-101 compliant resources: Thierry Mine and K1-1.
In addition, Cadillac also holds a 51% interest in the Burnt Hill
Project, a historic tungsten/tin mine taken to test production by Mr.
Norman Brewster P.Geo for Canadian International Paper during the
early 1980's. Cadillac looks forward to resuming the development of
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Cadillac Ventures Inc.
President and Chief Executive Officer
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