Cadillac Ventures (CVE:CDC) Thursday announced that the underground resource at its Thierry Mine project has been revised.
The Thierry property consists of the past producing Thierry Mine and
hosts two NI 43-101 compliant resources from the Thierry Mine and the
The revision is based on the operating costs of conceptually
combining the operations of the Thierry underground and the K1-1 open
The conceptual combination of operations has resulted in a decrease
to the NSR cut-off of $5.30 per tonne for the underground resource, the
Thierry now contains 8.8 million tonnes measured and indicated
resources grading 1.66% copper, 0.19% nickel, 4 grams per tonne (g/t)
silver, 0.05 g/t gold, 0.04 g/t platinum and 0.13 g/t palladium.
In the inferred category, the deposit hosts 14.9 million tonnes
grading 1.64% copper, 0.16% nickel, 6.4 g/t silver, 0.10 g/t gold, 0.07
g/t platinum and 0.21 g/t palladium.
Previously, the Thierry Mine deposit held a resource estimate
consisting of 8.3 million tonnes measured and indicated grading 1.73%
copper and 0.20% nickel, as well as 14.6 million tonnes inferred grading
1.70% copper and 0.16% nickel.
The deposit remains open at depth and to the west, Cadillac Ventures said.
Cadillac president and chief executive, Norman Brewster, said: "The
impact to the existing resource statement of the lowering of the
conceptual combined operating costs for both the Thierry Mine
underground and the K1-1 Open Pit deposits, while not resulting in
significant additional tonnage at this time, will be positive for
project economics and broadens the range of underground material which,
may, one day, be economically mined from Thierry underground, should a
production decision be made."
Cadillac is a development-focused copper company currently advancing
its 100 percent-owned Thierry Property, near Pickle Lake, Ontario.
Earlier this month, the company said it started an updated mineral
resource estimate for its K1-1 deposit, following the receipt of results
from 26 drill holes recently completed at the site.