Cavan Work Program Underway on Quebec Graphite Properties
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/15/13 -- CAVAN VENTURES INC. (TSX VENTURE: CVN) ("Cavan" or "the Company") is pleased to announce that it has started a prospecting and exploration work program on its five prospective graphite projects, acquired in April 2012, May 2012 and March 2013, and which are located in the Province of Quebec.
The projects consist of five areas of reported historic graphite occurrences, discovered in the past by airborne electromagnetic/magnetic survey, mapping, pitting and diamond drilling.
The Buckingham property consists of three colonial lots located in Range IX, Buckingham Township, covering an area of 900 hectares (2,224 acres). The property is adjacent to the old Walker Mine which is located in the south half of lot 20 in Range VIII. Historical reports mention that the graphite deposit was worked between the 1860's to 1910. Disseminated graphite flakes, up to 25% were mined. At the time, the Cavan's property was part of the Walker mine. In the 1980's the Quebec Ministry of Energy and Resources conducted an airborne electromagnetic/magnetic survey over the region. Two linear conductors were picked up on the present Cavan's property. Those conductors are at 200 m spacing and measure 200 m and 1,000 m in length respectively.
The Big Flake property is located adjacent to the TIMCAL's (Stratmin) producing flake graphite mine of Lac des Iles, near Mont-Laurier, Quebec. It covers a total area of 2,400 ha (5,930 acres). The project covers historic drill holes (1968) with reports of graphite intersection. Those holes are located approximately 8 km east-south-east from the TIMCAL's mine site.
The Ashbury project covers an area of 900 hectares (2,224 acres) and hosts two historic drill holes bored by the Quebec Department of Natural Resources (1965). In the first hole, graphite was noted from 18.29 m to 30.48 m in a biotite paragneiss. A second intersection was noted from 30.48 m to 54.86 m. The second hole intersected graphitic mineralization over 1.52 m from 62.48 m to 64.00 m. The two holes are approximately 4 km apart.
The Cawood property is located about 65 km North of Ottawa in the Gatineau river basin. It comprises 10 map stake claims covering an area of 550 ha (136 acres). This property has potential for graphite, mica, apatite and rare earth elements. It is located in the Maniwaki Metasedimentary Basin, well known for its graphite deposits and base metal occurrences (Pb-Zn) associated to calcitic and dolomitic marbles. In the past, many small graphite occurrences were mined by open-pits which are still accessible.
The Sainte Marie property consists of 11 map staked claims covering an area of 605 hectares (1,495 acres). Several graphite occurrences have been reported on the property and there is also potential for REE. Six graphite occurrences were studied during a regional mapping program. Most have returned graphite values higher than 3% graphite in quartz-feldspar gneisses. One occurrence returned 25% graphite over one metre in a shear zone.
Numerous graphitic bearing samples will be taken and shipped to the ALS Minerals laboratory in Val d'Or, Quebec.
The technical contents of this release were approved by Dr. Christian Derosier, P.Geo. a qualified person as defined by National Instrument 43-101.
Cavan Ventures Inc. is a junior exploration company actively seeking mineral opportunities for the benefit of all its stakeholders. For further information please visit us at .
ON BEHALF OF THE BOARD
Peter P. Swistak, President
Forward-Looking Statement: Some statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Cavan Ventures, Inc. Actual results may differ materially from those currently anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Cavan Ventures Inc.
Peter P. Swistak
President
(604) 683-3995 or Toll Free: (888) 945-4770
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Datum: 15.05.2013 - 12:30 Uhr
Sprache: Deutsch
News-ID 260289
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