Cap-Ex Ventures Ltd.: Porky Lake Returns 62% and 54% Iron in Channel Samples
August 23 2011 - 9:00AM
Marketwired
Cap-Ex Ventures Ltd. (TSX VENTURE: CEV)(FRANKFURT: X0V)(OTCQX:
CPXVF) ("Cap-Ex" or the "Company") is pleased to announce that it
has now received initial assay results from its Porky Lake
property. The Porky Lake property covers approximately 13,000
hectares and is located 50 kilometres northeast of Schefferville,
Quebec.
The summer reconnaissance program returned encouraging results
including, PR8, a 1.2 metre channel sample from blue dense hematite
locally mixed with chert, which returned 62.65% iron and 8.75%
silica and sample PR1, a 0.4 metre channel sample from blue dense
hematite mixed with chert, which returned 54.18% iron and 21.2%
silica. During the visit samples were collected over a 750 metre
strike length of the hematite bearing zone, which consists of
layers of dense, blue hematite with an estimated total thickness of
91 metres.
The Company will follow up with a more extensive program to
expand the hematite mineralization to the south. The rock exposure
of the sampled hematite zone is limited and as a result only
relatively small portions of the zone were sampled.
Historic reports from Iron Ore Canada (IOC) indicate that
hematite iron mineralization is fairly continuous over the entire
50 kilometre strike length.
In order to test the full width of the hematite zone the Company
plans to follow up with drilling this season.
The Company is currently awaiting initial drill core assays from
Block 103 and initial assay results from the Company's Redmond
property; both are expected within two weeks time.
Drilling continues at Block 103 with drilling at Redmond to
commence in September.
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.
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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