Cadillac Mining Presents Progress Report on Osilinka Survey
Sponsored LinksCadillac Mining Corporation recently reported the results of a ground magnetic survey conducted recently on the Osilinka-Cat Mountain copper-gold project, located within the Quesnel Trough, approximately 170 km by road northwest of Mackenzie, B.C.
Exploration in 2007 comprised a 238 line-km airborne survey by the property owner Lysander Minerals Corp., followed by a seven-hole, 1385-meter core drilling program conducted by optionee Cadillac Mining Corp.
Cadillac’s 2007 drilling intersected significant mineralization, ranging from geochemically anomalous copper to semi-massive sulphides, all associated with considerable magnetite. The best hole, DDH 07-21, intersected 5.15 meters of semi-massive chalcopyrite, pyrite and magnetite which assayed 5.7% Cu, with coincident gold, silver and cobalt grading 3.1 g/t, 4.6 g/t, and 500ppm respectively. This intercept includes a 1.5 meter interval carrying 9.9% Cu, 5.8g/t Au, and 0.09% Co. DDH’s 07-18 and 07-24 also intersected very strong to massive pyrite-chalcopyrite-magnetite mineralization, over widths of 1.5 and 3.5 meters, returning values of 1.5% and 1.9% Cu, and elevated gold, silver and cobalt. Furthermore, records of past drilling and trenching show a similarly close relationship between copper and magnetite.
Due to this link between copper mineralization and magnetite, Cadillac conducted a detailed ground magnetic survey on the summit and western flank of Cat Mountain in August 2008 to determine the size, direction and continuity of such structurally controlled magnetite. The program employed continuous reading magnetometers controlled by GPS in real time. A total of 46.5 line-kilometers were surveyed on 31 lines spaced at 50 meters.
The survey identified a broad zone of parallel linear magnetic bands striking nearly north-south. Contoured interpretation of this data presented on the Company’s website shows ‘total field’ and ‘calculated vertical gradient’. Preliminary evaluation indicates that zones of high magnetic intensity cover an area measuring about 700 meters in length and 400 meters east-west. Future work will include machine trenching along magnetic anomalies to determine the size, grade and consistency of associated copper mineralization.
The option agreement with Lysander Minerals Corporation provides Cadillac the right to earn a 50% interest in the 9002-hectare property by expending $2,000,000 and paying Lysander 250,000 shares over a four-year period. To date Cadillac has expended $380,000, meeting its 2008 requirements, and has paid 50,000 shares.
In other news, Cadillac has completed a single NQ caliber drill hole on its East Beauchastel claim group located on Lot 58, Range 5, Beauchastel Township, near Rouyn-Noranda, Quebec. Drilled north at a 45 degree dip to a depth of 215.4 meters, DDH 08-01 targeted a prospective zone of gabbroic intrusives that follows a distinctive linear magnetic anomaly extending westward from the Alexis Minerals’ Lac Pelletier deposit. The hole intersected alternating intervals of volcanic units intruded by medium grained gabbro. All rock types are strongly carbonate altered, but no significant sulphide-bearing zones were observed. The drill hole was thoroughly sampled and no gold values of significance were obtained.
Cadillac Mining Corporation is a junior resource company focused on the acquisition, exploration and development of precious and base metal mineral properties across Canada. Current activities include gold properties near Rouyn-Noranda, Quebec and a number of base-precious metal projects in British Columbia.
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