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Cadillac Mining Corp. obtains permit for drilling program on Tuzo Creek, BC Moly prospect
VANCOUVER, July 7 /CNW/ - Cadillac Mining Corporation (TSXV:CQX) is pleased to announce the recei...
About this update from Copper Quest Exploration Inc.
[{"type":"text","content":"\n\n\n\nVANCOUVER, July 7 /CNW/ - Cadillac Mining Corporation (TSXV:CQX) is\npleased to announce the receipt of a work permit from the Ministry of Energy\nMines & Petroleum Resources for a drilling program of six drill holes on the\nTuzo Creek molybdenum prospect located near the town of Beaverdell in\nsouth-central British Columbia. Drilling is expected to commence within 10\ndays.\n\n\nThis work is the follow-up to the 780-meter drilling program completed in\nDecember 2007. It is designed to test the extension of a tabular zone\nintersected in DDH TZ07-04 that carried molybdenum mineralization over its\ntotal length of 173 meters, and bottomed in mineralization. The hole returned\n48 meters of 0.074% Mo within 170 meters that averaged 0.038% Mo. See\nCadillac's March 28, 2008 news release for details. DDH TZ07-04 was an offset\nof Amax Explorations' DDH 81-05 which intersected 0.060% Mo over 33.5 meters.\n\n\nThe December 2007 drilling also intersected broad widths of strongly\nmineralized breccia carrying elevated but sub-economic zinc values (0.33% Zn\nover 103 meters), and unusually strong pyrite as stringers and disseminations\nwhich average approximately 6% over-all. Zones of elevated sulphides are often\nseen peripheral to molybdenite deposits in British Columbia.\n\n\nThe 2008 follow-up drilling represents a departure from the model guiding\nall earlier work which postulated a westerly mineralized trend along a narrow\ncorridor. The current program will instead test a north-east extension of\nknown mineralization along a trend that had not been regarded as prospective\nin the past.\n\n\nPlans and sections showing details of the geological environment can be\nviewed 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 300,000 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 develop...