Cadillac Ventures Inc. ("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 property.
- 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 strike.
- 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. Sc., P.Eng.