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Cadillac Mining - Visible Gold Mines Break Project Drill Program Update
Apr. 27, 2011 (Filing Services Canada) -- Cadillac Mining Corporation (CQX - TSX Venture), that...
About this update from Copper Quest Exploration Inc.
[{"type":"text","content":"\nCadillac Mining - Visible Gold Mines Break Project Drill Program Update\n\n Apr. 27, 2011 (Filing Services Canada) -- Cadillac Mining Corporation (CQX - TSX Venture), that it has completed 1412 meters of a planned 8900-meter drill program on a series of targets within Cadillac's 100%-owned Break Project located on the Cadillac-Larder Lake Break in the Abitibi geological province of Quebec. Visible Gold has an option to earn 60% in 217 of the 228 claims in the Break Project.In early April, Visible Gold commenced a drill program comprising four holes on the Kanasuta claims in Dasserat Township, situated within approximately 800 meters of Vantex Resources' Moriss Zone discovery on its Galloway Project, about 30 kilometers west of Rouyn-Noranda.  To date, two holes of 756 and 656 meters respectively have been completed and logged, and 100 samples have been submitted for assay.  The third hole was collared on the morning of April 26th.On completion of the program on the Kanasuta property, Visible Gold has indicated it will commence drilling on three claims at the western end of Cadillac's Kekeko claim group (dubbed \"Lucky Break\" by Visible Gold).  The initial holes will be collared approximately 2,800 meters southwest of Richmont Mines' Wasamac project.Cadillac Mining - Visible Gold Option AgreementAs announced on December 7, 2010, Visible Gold may earn a 60% undivided interest in the 217-claim, 7423-hectate property over a period of four years by completing exploration expenditures of $4.2 million, issuing an aggregate 500,000 Visible Gold common shares to Cadillac and paying Cadillac a total of $100,000 cash.  The initial payment of $25,000 cash and 100,000 common shares has been received by Cadillac.  The balance of the payments are due in like annual installments.Cadillac Break Project Summary & HistoryCadillac Mining's Break project comprising 7,755 hectares is 100% owned by the Company. The claims cover more than 20 km of the Cadillac Break, and lie between the Noranda camp which has produced 18 million oz gold, and the 11-million oz former Kerr Addison Mine at Virginiatown, Ontario. Cadillac's claims are situated in and peripheral to the Noranda Basin where gold was produced primarily from VMS deposits, that include the world-class Horne Mine. Readers are reminded that the ...