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CDC Cadillac Ventures Inc

0.05
0.00 (0.00%)
22 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Cadillac Ventures Inc TSXV:CDC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.05 0.05 0.055 0 01:00:00

Cadillac Commissions Dewatering Implementation Plan

17/08/2011 1:30pm

Marketwired Canada


Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") is
pleased to announce that AECOM, a global provider of professional technical and
management support services in environment, transportation, facilities, energy
and water, has been commissioned to provide an implementation plan for
dewatering the Thierry Mine site. 


AECOM has completed an evaluation of the Thierry Mine Project dewatering
initiative, which included conducting a baseline water sampling program on the
property, as well as water sampling to determine the most effective treatment
strategies for the water in the pits and the mine shaft. This included
evaluating the previously-identified water treatment system along with other
available treatment solutions to ensure dewatering discharge to surface water is
in compliance with regulatory requirements. 


The next phase of AECOM's involvement is the delivery of a Dewatering
Implementation Plan, anticipated in October 2011, which will encompass the
design criteria for the site, including recommended flow, dewatering duration
and water quality (raw and treated); a site plan detailing required
infrastructure for dewatering and water treatment; and a preferred treatment
technology recommendation with a conceptual level cost estimate. In addition a
status report regarding consultation activities with regulatory bodies will also
be drafted.


Upon completion the Dewatering Implementation Plan will facilitate the drafting
of tenders for aspects of the project such as site infrastructure, dewatering
systems and water treatment facilities. 


About Cadillac

Cadillac's Thierry Mine project has a measured and indicated mineral resource of
6.2 million tonnes at a grade of 1.92% Cu, and an additional inferred mineral
resource of 8.2 million tonnes at a grade of 1.79% Cu (see the Company's 43-101
compliant report entitled "Technical Report and Updated Resource Estimate on the
Thierry CU-NI-PGE Mine Property, Pickle Lake Area, Patricia Mining District,
North-Western Ontario, Canada" dated July 2010 and filed on Sedar). In addition
the resource includes Nickel, Silver, Gold, Platinum and Palladium. The Thierry
Mine is located in Northwestern Ontario, is wholly owned by Cadillac, and was
last in operation under UMEX in the early 1980s, leaving significant underground
development in place. Since re-acquiring the Thierry Mine project, Cadillac has
been focusing on adding to the resource in the immediate area of the mine by
drilling a gap in the NI 43-101 deposit model referred to as the tooth, which
management has internally calculated contains six million tonnes of material,
this program has just been completed, with final results still pending. All of
the holes successfully intersected mineralization of a grade and width that
supported management's assumption regarding the continuation of the model at
depth through the tooth. In addition, drilling along strike to both the east and
the west has intersected mineralization outside of the NI 43-101 model.
Cadillac's property position at Thierry is large and hosts other exploration
targets, including the K1-1 deposit, known from historical drill records which
are not NI 43-101 compliant, to be a large, low grade and shallow occurrence
approximately three km to the east of the old Thierry Mine shaft, which also had
within it higher grade intersections. Cadillac is currently investigating this
deposit with several initial drill holes.


International exploration potential is also held by Cadillac, a joint venture
partner with Minas de Aguas Tenidas, S.A.U. ("MATSA") regarding the exploration
of 12 different investigation licenses encompassing over 230 square kilometers
surrounding the Aguas Tenidas Mine held by MATSA (a wholly owned subsidiary of
Iberian Minerals Corp.) in the Iberian Pyrite Belt of southern Spain. Each of
these licenses hosts visible mineralization and/or evidence of historical mining
activities. In order to earn a 90% interest in the entire license package
Cadillac has embarked on a survey drill program over several of these licenses
which is nearing completion augmented by geophysics. The information produced by
this program has been assembled and is guiding management in prioritizing these
properties for individual definition campaigns.


The three other projects held by Cadillac consist of: (i) the Burnt Hill
Project, a 51% owned tungsten tin project located outside of Fredericton, New
Brunswick and where Cadillac obtained positive drill results and new evidence of
mineralization at the extents of this large property last summer and which is
slated for follow up work in the Summer/Fall 2011 season; (ii) the Pickle Lake
Gold project, a land package contiguous to three formerly productive historic
gold mines which has been joint ventured to Newcastle Minerals Ltd.; and (iii)
the New Alger project located in the Cadillac Break mining camp in Quebec which
is a gold project joint ventured to Renforth Resources Inc. 


About AECOM

AECOM is a global provider of professional technical and management support
services to a broad range of markets, including transportation, facilities,
environmental, energy, water and government. With approximately 45,000 employees
around the world, AECOM is a leader in all of the key markets that it serves.
AECOM provides a blend of global reach, local knowledge, innovation and
technical excellence in delivering solutions that create, enhance and sustain
the world's built, natural and social environments. A Fortune 500 company, AECOM
serves clients in approximately 125 countries and had revenue of $7.7 billion
during the 12 months ended June 30, 2011. More information on AECOM and its
services can be found at www.aecom.com.


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