Business
Cadillac Mining Corp. commences drilling on Tuzo Creek, BC moly prospect
VANCOUVER, Aug. 12 /CNW/ - Cadillac Mining Corporation (TSXV:CQX) is pleased to announce the comm...
About this update from Copper Quest Exploration Inc.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Aug. 12 /CNW/ - Cadillac Mining Corporation (TSXV:CQX) is\npleased to announce the commencement of a drilling program of between three\nand six core holes of about 200 meters each on the Tuzo Creek molybdenum\nprospect located near Beaverdell in south-central British Columbia.\n\n\nAs reported on July 7th, this program comprises the follow-up to\nCadillac's December 2007 Tuzo Creek drilling campaign. It will test for a\nnorth-east extension of a tabular zone intersected in DDH TZ07-04 that carried\nmolybdenum values over its total length of 173 meters, including 48 meters of\n0.074% Mo. DDH TZ07-04, which bottomed in mineralization, was an angled offset\nof Amax Explorations' vertical hole DDH 81-05 which intersected 0.060% Mo over\n33.5 meters within a broader zone of mineralization. (Cadillac's March 28,\n2008 news release provides assay details of the 2007 program.)\n\n\nCadillac is further encouraged by the intersection in its 2007 drilling\nof broad zones of strongly mineralized breccia carrying elevated (but\nsub-economic) zinc values and unusually strong pyrite content, as such zones\nare often seen peripheral to molybdenite deposits in British Columbia.\n\n\nAnalyses, as advised by commercial labs, can be expected about a month\nafter submittal of core samples.\n\n\nPlans and sections showing details of the Tuzo Creek geological\nenvironment and previous drilling can be viewed on the Company's website.\n\n\nCadillac can acquire a 100% interest in the 1746-hectare property by\ncompleting a two-year schedule of cash and share payments to an aggregate of\n$90,000 and 1,100,000 common shares. The agreement is subject to a 2%\nproduction royalty that can be purchased for $1,000,000. Cadillac has made an\ninitial $20,000 payment, and has issued 400,000 shares.\n\n\nAndre J. Audet, P.Eng, Vice-President Exploration, is the Qualified\nPerson who has reviewed and verified the technical information detailed in\nthis release.\n\n\nCadillac Mining Corporation is a junior resource company focused on the\nacquisition, exploration and development of precious and base metal mineral\nproperties across Canada. Current activities include gold prospects near\nRouyn-Noranda, Quebec and a growing number of base-precious metal projects in\nBritish Columbia.\n\n\nStatements contained in this release that are not historical fa...