Cadillac Mining Corp. commences drilling on Tuzo Creek, BC moly prospectadmin
Wednesday, August 13th 2008
Cadillac Mining Corporation 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 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.
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 British Columbia.