Cavan Provides More Rare Earth Assays and Files NI 43-101 Report for the Pythonga Rare Earth Property in Quebec
August 07 2012 - 10:40AM
Marketwired Canada
CAVAN VENTURES INC. (TSX VENTURE:CVN) ("Cavan" or the "Company") is pleased to
provide additional rare earth element (REE) assays from its Pythonga Property,
located approximately fifteen kilometers west of the town of Maniwaki, Quebec.
As reported previously, the best REE assays come from pegmatite dykes that vary
in size from 4-20 meters in width and several hundred meters in strike length
(see news release, June 6, 2012). A second sampling program was conducted in
October 2011 to obtain additional samples from the pegmatite dykes, with the
best results from that program reported in the table below.
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Table 1. REE assays from the Pythonga Property, Quebec. Values in weight
percent.
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Sample
Number 203277 203175 203336 203256 203301 203214 203035 203174
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sample type grab grab grab grab grab grab grab grab
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La2O3 (i) greater
than
1.17 0.63 0.81 0.42 0.47 0.34 0.04 0.11
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Ce2O3 (i) greater greater
than than
1.17 1.17 0.98 0.80 0.74 0.66 0.14 0.22
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Pr2O3 (i) greater
than
0.12 0.12 0.08 0.07 0.07 0.07 0.02 0.02
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Nd2O3 0.85 0.35 0.23 0.21 0.18 0.22 0.10 0.08
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Sm2O3 0.09 0.04 0.02 0.02 0.02 0.03 0.02 0.01
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Eu2O3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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Gd2O3 0.04 0.02 0.01 0.01 0.01 0.01 0.02 0.01
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Tb2O3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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Dy2O3 0.02 0.01 0.00 0.01 0.00 0.00 0.02 0.00
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Ho2O3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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Er2O3 0.01 0.00 0.00 0.00 0.00 0.00 0.01 0.00
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Tm2O3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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Yb2O3 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00
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Lu2O3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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Y2O3 0.07 0.04 0.02 0.01 0.01 0.00 0.12 0.01
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Total REE, greater greater
wt% than than
3.55(i) 2.39(i) 2.15 1.56 1.49 1.34 0.53 0.46
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(i)For overlimit results, the overlimit value is used in the total.
Results in ppm are converted to wt.% REE, then to REO using factors
provided in Gagnon and Camus, 2012, Technical Report Mineral Resource
Estimation Update Eldor Property - Ashram Deposit, Nunavik, Quebec, (for
Commerce Resources, Inc.) Geostat, SGS Canada Inc., 117p.
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The Pythonga Property is composed of late Proterozoic metasedimentary,
amphibolite, gneiss, and calc-silicate rocks exhibiting amphibolite to granulite
facies metamorphism. The highest REE contents noted on the property occur in
pegmatites, with the greatest concentration of high REE samples located on the
eastern claim blocks. A total of 390 samples have been collected, either as
channel samples or surface rock grab samples between 1-2kg in mass. (Channel
sample volumes were 0.3-1.5m long by 0.03m wide by 0.05m deep). A map showing
the distribution of samples on the Pythonga Property can be seen on the company
website at www.cavanventures.com.
The Company is also pleased to announce the filing on SEDAR on July 31, 2012 of
a National Instrument ("NI") 43-101 technical report on the Pythonga Project.
The independent technical report has been prepared by Roger Oullet (P.Geo.). Mr.
Oullet is the independent Qualified Person responsible for the preparation of
exploration results for the Pythonga Project. Details for the Pythonga Project
are included in the technical report, which is titled "Compilation of
Exploration Work on the Pythonga Property, Summer 2011" NI 43-101 Report dated
10 December 2011, as filed on SEDAR.
Mr. Peter Swistak, President of Cavan Ventures states, "The Pythonga Property
has revealed a real potential for economic rare earth mineralization. We intend
to mount a focused exploration campaign commencing with follow-up surface
sampling, trenching and identification of diamond drilling targets."
The Pythonga Lake Project consists of 110 claims divided into three blocks, of
which 53 claims are held 100% by the Company. The remaining 57 claims are under
option from Investments Horizons, Inc. (Quebec City, Quebec), whereby Cavan may
acquire 70% through a cash payment of $27,500 and issuing 200,000 shares, then
performing $500,000 in work over two years. An additional 30% may be acquired
through $100,000 in cash and issuing 2.5 million shares.
The technical contents of this release were approved by Dr. Tom McCandless,
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 www.cavanventures.com.
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.