GlobeinvestorGOLD.com Company News Alert for Cadillac Mining
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Cadillac Mining - Visible Gold Mines Break Project Drill Program Update
Filing Services Canada Inc.
FSC / Press Release
Cadillac Mining - Visible Gold Mines Break Project Drill Program Update
Vancouver,British Columbia CANADA, April 27, 2011 /FSC/ - Cadillac MiningCorporation (CQX - TSX Venture), that it has completed 1412 meters of aplanned 8900-meter drill program on a series of targets withinCadillac's 100%-owned Break Project located on the Cadillac-Larder LakeBreak in the Abitibi geological province of Quebec. Visible Gold has anoption to earn 60% in 217 of the 228 claims in the Break Project.
Inearly April, Visible Gold commenced a drill program comprising fourholes on the Kanasuta claims in Dasserat Township, situated withinapproximately 800 meters of Vantex Resources' Moriss Zone discovery onits Galloway Project, about 30 kilometers west of Rouyn-Noranda. Todate, two holes of 756 and 656 meters respectively have been completedand logged, and 100 samples have been submitted for assay. The thirdhole was collared on the morning of April 26th.
On completionof the program on the Kanasuta property, Visible Gold has indicated itwill commence drilling on three claims at the western end of Cadillac'sKekeko claim group (dubbed "Lucky Break" by Visible Gold). The initialholes will be collared approximately 2,800 meters southwest of RichmontMines' Wasamac project.
Cadillac Mining - Visible Gold Option Agreement
Asannounced on December 7, 2010, Visible Gold may earn a 60% undividedinterest in the 217-claim, 7423-hectate property over a period of fouryears by completing exploration expenditures of $4.2 million, issuing anaggregate 500,000 Visible Gold common shares to Cadillac and payingCadillac a total of $100,000 cash. The initial payment of $25,000 cashand 100,000 common shares has been received by Cadillac. The balance ofthe payments are due in like annual installments.
Cadillac Break Project Summary & History
CadillacMining's Break project comprising 7,755 hectares is 100% owned by theCompany. The claims cover more than 20 km of the Cadillac Break, and liebetween the Noranda camp which has produced 18 million oz gold, and the11-million oz former Kerr Addison Mine at Virginiatown, Ontario.Cadillac's claims are situated in and peripheral to the Noranda Basinwhere gold was produced primarily from VMS deposits, that include theworld-class Horne Mine. Readers are reminded that the Cadillac-LarderLake Break, which hosts more than 100 mines and significant goldprospects, extends from Kirkland Lake in Ontario to well east of Val d'Or, Quebec. This exceptional structure, productive over some 200 km,has over the past nine decades yielded and hosts an aggregate of morethan 80 million oz gold.
The properties comprising the BreakProject were staked in 2002 by the founders of Cadillac MiningCorporation. Exploration to date has included a project-wide airbornegeophysical survey, extensive lithogeochemical sampling, and diamonddrilling. Prior to Cadillac's involvement, the area it holds had beenlargely untested because of difficulties in penetrating to theprospective geological units.
Qualified Person
AndreJ. Audet, P.Eng., Vice-President - Exploration, Cadillac MiningCorporation, fulfills the position of Qualified Person for CadillacMining Corporation, as per National Instrument 43-101.
About Cadillac Mining Corporation
CadillacMining Corporation is a junior exploration and development companybased in Vancouver, Canada focused on large-scale precious and basemetal projects in the Abitibi geological province in Canada, and theGreat Basin in the western USA. The Company's long term objective is thediscovery of a major deposit through carefully planned aggressiveexploration programs. Its business model provides shareholders access toa wealth of exploration experience, dedicated management and theopportunity to experience discovery through a very conservativelycapitalized company. Insiders have very recently exercised 1.6 millionoptions, so that the Company now has approximately 27.4 million sharesoutstanding.
Disclaimer
Statements contained inthis release that are not historical facts may be "forward-lookingstatements". Such statements are subject to risks and uncertainties andother factors which may cause actual developments or results or levelof activity or performance to vary materially from those projected byManagement.
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracy ofthe release.
For more information, please contact:
Website
www.cadillacmining.com
Bernie Kennedy 877-489-4440 Victor Erickson 604-684-7300
President & CEO
Email berniekc@telus.net v.erickson@cadillacmining.com
To view this release as a web page, please click on the following link:
https://www.usetdas.com/pr/cadillac04272011.htm
Source: Cadillac Mining Corporation (TSX-V: CQX)
https://www.cadillacmining.com
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