Cadillac Ventures drills 0.27% copper over 610 feet at K1-1

Cadillac Ventures (CVE:CDC) said Tuesday that two drill holes at the K1-1 deposit, located just east of its Thierry Mine in northeastern Ontario, intersected widespread shallow mineralization, with localized higher grade occurrences found within this body.
The Thierry project is located outside of Pickle Lake Ontario. Highlights included drill hole K-11-8, which intersected a weighted average of 0.27% copper at 610 feet, between 110 and 720 feet down the hole, Cadillac Ventures said.
The drilling carried out so far has not defined the extent or the depth of this body, it said.
In addition, high grade nickel values were also found, coincident with interpreted north-south trending shear structures, but insufficient drilling has been completed to fully define this mineralization.
Since March, the company has drilled 16 holes on the K1-1 deposit.
The Thierry mine was last in operation under UMEX in the early 1980s, leaving significant underground development in place. Initially, Cadillac drilled three holes into K1-1 to test the UMEX data, and found that drilling supported historical records.
As a result, the company embarked on another 13 hole program in May and June, designed to confirm historic data and facilitate a NI 43-101 resource estimate at K1-1.
Based on the results thus far, Cadillac said it plans to carry-out a more definitive drilling campaign at the deposit. 
The company said assays for the balance of the holes drilled will be released as soon as they are available.
Currently, Thierry has a measured and indicated mineral resource of 6.2 million tonnes at a grade of 1.92% copper, and an additional inferred resource of 8.4 million tonnes at a grade of 1.79% copper.
Cadillac Ventures shares shot up 25 cents, or 13.16% to $0.215 on Tuesday afternoon.