New Cantech drills 342 m of 0.061% Mo at Lucky Ship
2007-05-01 15:43 ET - News Release
Mr. Dalton DuPasquier reports
NEW CANTECH VENTURES INC. ANNOUNCES RESULTS FOR THE FIRST 8 HOLES OF THE 2007 PHASE 4 DRILLING PROGRAM ON ITS LUCKY SHIP MOLYBDENUM PROPERTY
As announced on March 12, 2007, in Stockwatch, New Cantech Ventures Inc. is currently conducting its phase 4 infill drilling program at the Lucky Ship molybdenum property, located 85 kilometres by road southwest of Houston, B.C. This program was targeted to complete 47 drill holes for a total of 14,137 metres of drilling.
The phase 4 drill program commenced on Feb. 20, 2007. As of April 29, 2007, Cantech had completed 38 of the projected 47 drill holes (LS07-69 to LS07-106), totalling 11,781 metres. Because of spring thaw conditions which have made roads to the property unusable, drilling on the property has been suspended. Drilling of the remaining 2,356 metres will recommence once conditions improve, hopefully within the next four to six weeks. The two drills on the property are currently being demobilized and moved to the Driftwood drilling home base in Smithers, B.C. Geotechnical testing by Lorax Environmental has also been suspended pending drier conditions on the property.
Assay results
Cantech has now received assay results for drill holes LS07-70 to LS07-76 from ACME Analytical Laboratories in Vancouver, B.C. Drill hole LS07-69 did not contain any significant molybdenum mineralization, and was not split and sampled. The eight drill holes listed in the table below total 2,971.2 metres of the phase 4 program. Significant drill intersections are shown for each drill hole in the table below.
Hole No. Length (m) From (m) To (m) Intersection (m) Mo (%)LS07-69 231.04 not sampledLS07-70 470.61 103 445 342.0 0.061including 295 381 86.0 0.106LS07-71 422.45 9 15 6.0 0.439 157 422.45 265.45 0.087including 257 422.45 165.45 0.110LS07-72 410.57 294 322 28.0 0.059LS07-73 308.15 7 249 242.0 0.052including 139 151 12.0 0.115LS07-74 580.95 45 339 294.0 0.061including 175 267 92.0 0.102LS07-75 228.90 63 145 82.0 0.043LS07-76 318.52 35 309 274.0 0.058including 51 57 6.0 0.193including 147 169 22.0 0.109
Note that analyses were done by ACME Analytical Laboratories using ICP-ES analytical technique on an aqua regia digestion (G7AR analyticalpackage).
Drill holes LS07-69, LS07-70 and LS07-72 were all drilled from the same drill site located northwest and outside of the molybdenum zone. Hole LS07-69 was drilled to the west and away from the molybdenum zone for geotechnical information, specifically to test for the presence of a fault under a north-trending creek. This hole intersected quartz-feldspar porphyry with minor molybdenum mineralization. Although the porphyry in this area was quite fractured, no evidence of shearing or other indications of fault movement was observed. The hole was not split and sampled. Drill hole LS07-70 was drilled at an azimuth of 145 degrees and an inclination of minus 60 degrees, and intersected the western edge of the molybdenum zone between 103 metres and 445 metres, averaging 0.061 per cent molybdenum (Mo) for this interval. Hole LS07-72 was drilled in the same direction but at a steeper inclination of minus 80 degrees. This hole remained in the footwall of the deposit and intersected only minor molybdenum mineralization. Drill hole LS07-71 was collared 75 metres north of hole LS07-70 and was drilled in the same direction and inclination as this hole. A brecciated quartz molybdenite vein running subparallel to the core axis was intersected near the start of the hole, resulting in a six-metre sample interval returning an average grade of 0.439 per cent Mo. This intersection was well outside the northern limit of the molybdenum zone and its significance is not yet known. Drill hole LS07-71 did not intersect any significant veining until it entered the molybdenum zone at 157 metres. This hole remained in good-grade molybdenum from 157 metres to the end of the hole at 422.5 metres, averaging 0.089 per cent Mo over this interval. Drill hole LS07-74 was collared east of LS07-71 along the same drill road, and was drilled at the same azimuth and inclination. This hole intersected the molybdenum zone between 45 metres and 339 metres, averaging 0.061 per cent Mo over this interval. Best-grade material in this hole occurred between 175 metres and 267 metres, averaging 0.102 per cent Mo. Drill hole LS07-73 was collared in the southeast half of the molybdenum zone, and was drilled at an azimuth of 145 degrees and inclination of minus 80 degrees. This hole intersected quartz-molybdenite veins from surface to a depth of 249 metres and averaged 0.059 per cent Mo for this interval. Drill holes LS07-75 and LS07-76 were collared on the lower access road south of the main molybdenum zone and drilled at azimuth of 325 degrees toward the zone. Hole LS07-75 was drilled at an inclination of minus 80 and intersected the southern edge of the deposit from 63 metres to 145 metres. This interval averaged 0.043 per cent Mo. Hole LS07-76, which was collared 102 metres south and 41 metres west of hole LS07-75, was drilled at an inclination of minus 65 degrees. This hole intersected the molybdenum zone from 35 metres to 309 metres, averaging 0.058 per cent Mo for this interval.
Qualified person
Dr. Donald G. MacIntyre, PEng, a qualified person under National Instrument 43-101, has been supervising Cantech's 2007 phase 4 drill program, and has reviewed and approved the technical disclosure in this news release. |
