Cap-Ex Ventures Ltd.: High Grade Iron Results Confirm Strike Extension to Northwest Zone
November 30 2011 - 8:00AM
Marketwired
Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:X0V)
("Cap-Ex" or the "Company") is pleased to announce the results from
2 more drill holes completed on the newly discovered Northwest Zone
located on the Company's wholly owned Block 103 iron ore property,
30 kilometres northwest of the mining town of Schefferville,
Quebec. The new zone is located approximately 3 kilometres west of
the Green Bush Zone, in the northwest portion of Block 103 where
the Company has recently announced several positive drill hole
results indicating the presence of significant magnetite
mineralization. The geology of the Northwest zone is very simple,
forming a single horizon that strikes NW-SE and dips very gently
(0-10 degrees) to the northeast.
The Northwest Zone was tested by 6 diamond drill holes over 5.3
kilometres of strike length. To date, results have been received
for 3 holes with the results for drill hole DDH103-11 having been
disseminated by the Company on November 8, 2011. Drill hole
DDH103-13 drilled 680 metres south of drill hole DDH103-11
intersected 90.63 metres (true thickness) averaging 32% iron (Fe)
and 31.62% DTWR. Hole DDH103-15 drilled 1,150 metres southeast of
DDH103-11 intersected 88.91 metres (true thickness) averaging 31.1%
Fe and 27.53% DTWR. (Refer to Figure 1 attached which can also be
found on the company website at www.cap-ex.ca)
The full results from 3 holes released to date are shown in the
table below.
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HOLES WITH RESULTS
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Core True Total
Hole number From To interval thickness Fe DTWR Concentrate
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(m) (m) (m) (m) (%) (%) Fe (%) SiO2(%)
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DDH103-11 1.2 109.1 107.9 107.3 31.8 31.6 68.1 3.3
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DDH103-13 1.2 92.4 91.1 90.6 32.0 31.6 68.2 4.4
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DDH103-15 1.5 90.5 89.0 88.9 31.1 27.5 69.4 3.2
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HOLES WITH RESULTS PENDING
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Interval of magnetite
Hole Number bearing horizon
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From To Interval
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Results
DDH103-12 1.5 95.0 93.5 Pending
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Results
DDH103-16 24.7 145.0 120.3 Pending
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Results
DDH103-17 60.0 180.0 120.0 Pending
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(a) Total Fe and DTWR (Davies Tube Weight Recovery) were calculated as a
weighted average from all the samples.
(b) DTWR tests were run on 10% of the samples. DTWR calculation for the
remaining samples is based on the ratio of DTWR and Fe3O4 values.
(c) Fe and SiO2 values in concentrate were calculated in 10% of the
samples.
Brett Matich, President and CEO of Cap-Ex comments, "The
positive results from the drilling at the Northwest Zone are very
encouraging, complementing our original Greenbush Zone discovery
from the 2011 drill program and all contained within our 100% owned
Block 103 property."
The samples from drilling were processed and assayed by SGS
Canada Lab based in Lakefield, ON. The samples were assayed using
XRF, Satmagan and Davis tube techniques.
Alex Walus, PGeo., a qualified person pursuant to National
Instrument 43-101, has reviewed and approved the contents of this
news release.
For additional information please visit the Company's website at
www.cap-ex.ca. You may also email info@cap-ex.ca or call investor
relations at (604) 669-2279.
CAP-EX VENTURES LTD.
Brett Matich, President and CEO
"This news release may contain forward-looking statements.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. 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: Cap-Ex Ventures Ltd. Investor Relations (604)
669-2279info@cap-ex.cawww.cap-ex.ca