Cavan Ventures Announces Significant New Rare Earth Assays From 2012 Program at Pythonga Property, Quebec
January 17 2013 - 9:03AM
Marketwired Canada
CAVAN VENTURES INC. (TSX VENTURE:CVN) ("Cavan" or the "Company") announces today
it has received significant rare earth element (REE) assays from its 2012
prospecting program at its 100% owned Pythonga Property, located approximately
15 kilometers west of the town of Maniwaki, Quebec. The property consists of 110
map staked claims covering an area of approximately 6,523 hectares. The claims
are divided in three blocks: the East Block (35 claims), the Central Block (71
claims) and the SW block (4 claims).
The prospecting program was executed by the team of Magnor Exploration Inc.
under the supervision of Dr. Christian Derosier, P.Geo, Cavan's Consulting
Geologist and Qualified Person for the Pythonga Lake Rare Earth Element project.
The program consisted of prospecting along recently-built timber roads, channel
sampling, limited line cutting, limited radiometric survey and delimiting the
future stripping areas. All this work has been conducted within the East Block
boundaries.
A total of 42 channel samples were taken and assayed by ALS Minerals lab in
North Vancouver, B.C. The method of analysis recommended by the exploration team
and the laboratory for rare earth and trace elements uses the lithium
metaborate/tetraborate fusion followed by Inductively Coupled Plasma (ICP) for
the major oxides and by Inductively Coupled Plasma Mass Spectrometry (ICP-MS)
for a series of 38 elements which include the REE's. The ALS Vancouver facility
is ISO/IEC 17025 and 9001:2008 accredited. Best results obtained are listed in
the table below:
Table 1. REE assays from the 2012 Pythonga Lake field program. Values are
in weight percent.
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Sample No: P268058 P268060 P268068 P268069 P268071
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Sample type: Channel Channel Channel Channel Channel
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Ce2O3 (ppm) 1373.50 611.04 1440.50 1695.10 1949.70
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Dy2O3 (ppm) 10.49 67.99 32.37 16.71 17.75
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Er2O3 (ppm) 3.93 34.70 13.61 2.10 9.57
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Eu2O3 (ppm) 3.29 7.46 8.47 5.78 3.21
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Gd2O3 (ppm) 25.28 77.95 53.19 78.86 25.55
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Ho2O3 (ppm) 1.64 12.64 5.47 1.55 3.29
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La2O3 (ppm) 692.55 206.55 585.90 873.45 1200.15
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Lu2O3 (ppm) 0.53 3.31 1.14 0.13 1.63
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Nd2O3 (ppm) 481.46 316.54 550.62 767.41 454.86
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Pr2O3 (ppm) 154.10 76.25 165.49 199.66 173.53
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Sm2O3 (ppm) 59.80 89.10 92.27 128.96 48.84
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Tb2O3 (ppm) 2.33 11.88 6.44 5.97 3.25
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Tm2O3 (ppm) 0.50 4.60 1.72 0.18 1.38
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Y2O3 (ppm) 49.43 381.92 167.86 48.82 14.73
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Yb2O3 (ppm) 3.30 26.50 9.52 0.97 9.84
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TOTAL REE
Wt% 0.29 0.20 0.32 0.38 0.40
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Sample No: P268075 P268076 P268082 P268090 P268092
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Sample type: Channel Channel Channel Channel Channel
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Ce2O3 (ppm) 2177.50 11952.80 5092.00 2827.40 13400.00(i)
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Dy2O3 (ppm) 9.92 42.38 36.01 16.71 62.95
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Er2O3 (ppm) 3.33 20.32 13.67 5.04 62.95
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Eu2O3 (ppm) 3.74 30.49 7.34 8.41 50.29
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Gd2O3 (ppm) 23.45 70.35 80.43 47.95 826.61
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Ho2O3 (ppm) .37 6.82 5.22 2.17 32.12
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La2O3 (ppm) 1166.40 6939.00 2544.75 1310.85 13500(i)
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Lu2O3 (ppm) 0.43 2.32 1.51 0.60 4.27
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Nd2O3 (ppm) 649.04 2646.70 1629.25 1024.10 13300.00(i)
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Pr2O3 (ppm) 204.35 950.06 509.20 298.82 1340.00(i)
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Sm2O3 (ppm) 65.34 190.74 85.46 118.14 1320(i)
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Tb2O3 (ppm) 2.26 8.23 8.24 4.37 78.13
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Tm2O3 (ppm) 0.42 2.75 1.81 0.60 6.30
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Y2O3 (ppm) 43.74 262.57 172.48 69.45 885.50
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Yb2O3 (ppm) 2.41 16.00 9.25 3.47 29.57
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TOTAL REE
Wt% 0.44 2.32 1.03 0.57 4.53(i)
Notes: Several samples have returned over limit values. The re-assay with
another method is in progress. For this table, the over limit values
(greater than 10,000 or greater than 1,000 ppm) have been used. Those
values are marked by (i). Results in ppm are converted to REO (oxide) then
to wt% REE.
Most samples which returned appreciable REE values (higher than 0.20% TREE) were
obtained from pink to red coarse-grained pegmatite that returned more than 400
counts per second (cps) with the radiometric field instrument. These samples
were selected close to already known mineralization, or on their on strike
extensions.
Sample P268092 was collected at a new location. This new discovery gave 390.1
ppm U, 1149 ppm Th and 13600 cps with the instrument. The "Frog" occurrence is
in mafic gneiss mixed with some pegmatite dikes. The outcrop is 1-2m wide and
was followed over 25m in length. This occurrence is open in both directions.
This new discovery as well as the new channel sampling increase the economic
potential of the Pythonga REE project and justify a more aggressive exploration
program which will be started as soon as the snow cover clears.
Mr. Peter P. Swistak, President of Cavan Ventures states, "The Pythonga REE
project continues to reveal a real potential for economic rare earth
mineralization. We are preparing a focused exploration campaign which will begin
with geophysical surveys, a trenching and stripping phase, followed by a diamond
drilling program."
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 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. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Cavan Ventures Inc.
Peter P. Swistak
President
(604) 683-3995 or Toll Free: (888) 945-4770
www.cavanventures.com