Cap-Ex Ventures Ltd.: Multiple DSO and Magnetite Targets Identified at Block 103 and Redmond
June 15 2011 - 9:00AM
Marketwired
Cap-Ex Ventures Ltd. (TSX VENTURE: CEV)(OTCQX: CPXVF)(FRANKFURT:
X0V) ("Cap-Ex" or the "Company") is pleased to announce it has
received and interpreted the preliminary data from the recently
completed Airborne FALCON Gravity Gradiometer and High Sensitivity
Magnetometer survey, conducted by Fugro Airborne Surveys Corp, over
the Company's wholly owned Block 103 and Redmond properties in the
Labrador Trough near Schefferville, Quebec.
Geophysical Consultant, Jean Hubert, has completed
interpretation of the preliminary data, which has identified at
least thirty-one hematite, Direct Shipping Ore ("DSO") priority
targets for on ground investigation.
Images of residual gravity and the first vertical derivative
magnetic were used to select these priority targets, applying the
following criteria:
-- All targets fall within the Sokoman Formation
-- Targets interpreted to be located in synclines are given higher priority
-- Targets that occupy fault positions that may increase mineralised
thickness were prioritized
-- Areas of elevated gravity but low magnetic response indicate DSO targets
-- Coincident magnetite and gravity highs reflect magnetite targets
Sixteen DSO targets and seven magnetite targets were identified
on Block 103.
Fifteen DSO targets were identified on Redmond with gravity
anomalies with no magnetic or low magnetic anomalies and are
located along a thrust fault or are crossed by transverse
faults.
Cap-Ex is currently on site mapping and delineating all targets
in preparation for commencement of this year's drilling
campaign.
Edward Kruchkowski, P.Geo., a qualified person pursuant to
National Instrument 43-101 and director of the Company, has
reviewed and approved of the contents of this news release.
The Company is also pleased to report that Cap-Ex Ventures Ltd.
has begun trading on the OTC market's OTCQX International tier
under the symbol: CPXVF.
For additional information please visit the Company's website at
www.cap-ex.ca.
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 604-669-2279
604-602-1606 (FAX) info@cap-ex.ca www.cap-ex.ca
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