Cap-Ex Drill Results Indicate Increase in Average Thickness of "Greenbush Zone"
January 26 2012 - 8:00AM
Marketwired
Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:X0V)
("Cap-Ex" or the "Company") is pleased to announce four additional
assay results from the 2011 diamond drilling on its wholly owned
Block 103 iron property, which is located 30 kilometres northwest
of the mining town of Schefferville, Quebec.
The four new drill assay results are located on the east limb of
the Greenbush Zone:
-- DDH103-3 interval 204.2 metres at 30.9% total Fe from 5.2 metres, open
at depth
-- DDH103-18 interval 194.2 metres at 29.9% total Fe from 3.0 metres, open
at depth
-- DDH103-20 interval 128.0 metres at 30.3% total Fe from 17.4 metres, open
at depth
-- DDH103-34 interval 152.4 metres at 30.1% total Fe from 29.6 metres, open
at depth
(Refer to Table 1 attached, for all the new results)
Spread over a strike length in excess of 6 kilometres, it is
important to note that all four drill holes ended in mineralization
and consequently the mineralization is open at depth. The drilling
depth will be extended in the 2012 season to delineate the increase
in average thickness of the magnetite mineralization. (Refer to
"Greenbush Zone Drill Hole Map" Figure 1 attached, which can also
be found at www.cap-ex.ca).
To View Figure 1, please visit the following link:
http://media3.marketwire.com/docs/CEV126I.pdf.
The Company expects to soon receive additional 2011 drill assay
results from Block 103's Greenbush Zone and Northwest Zone.
Based on the currently available 2011 drill results and airborne
geophysical programs, the Company has made the following
interpretations regarding the Greenbush Zone:
-- The Greenbush Zone hosts strong magnetite mineralization that has been
identified to cover an area of at least 20 square kilometres. This Zone
features strong, coincident magnetic and gravimetric airborne anomalies,
which show remarkable reliability as drilling targets. All 26 drill
holes have encountered significant mineralization from 45 to 265 metres
in thickness.
-- The average length of the core intercepts of magnetite mineralization
encountered in the 26 holes drilled in the Greenbush Zone is 122 metres.
This number is based on assays from 21 holes and the visual estimation
of magnetite content in the remaining holes.
-- The average grade of the mineralization is 30.5% total Fe and the Davis
Tube concentrate grades average 68.2% iron and 4.7% silica.
-- The Company is using a Specific Gravity of 3.3, which is the same used
for the surrounding magnetite deposits.
-- In most holes, mineralization starts near surface and is open in all
directions.
Cap-Ex President and CEO, Mr Francois Laurin, comments, "We are
very pleased with these new assay results of the Greenbush Zone,
they continue to show strength in the mineralization and its
average grade. These results reinforce our decision to pursue an
aggressive 2012 exploration drilling program in the Block 103 iron
property."
TABLE 1 - Greenbush Zone
----------------------------------------------------------------------------
TABLE WITH ASSAYS AND CORE INTERCEPTS
----------------------------------------------------------------------------
Hole From To Core interval Total Fe Mineralization
----------------------------------------------------------------------------
number (m) (m) (m) (%)
----------------------------------------------------------------------------
DDH103-3 5.2 209.4 204.2 30.9 open at depth
----------------------------------------------------------------------------
DDH103-18 3.0 197.2 194.2 29.9 open at depth
----------------------------------------------------------------------------
DDH103-20 17.4 145.4 128.0 30.3 open at depth
----------------------------------------------------------------------------
DDH103-34 29.6 182.0 152.4 30.1 open at depth
----------------------------------------------------------------------------
The true widths of the reported core intervals are estimated to
be between 90 and 100 percent of these intervals.
Quality Assurance/Quality Control
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., an employee of the Corporation and a
qualified person pursuant to National Instrument 43-101, has
reviewed and approved the technical and scientific information in
this news release.
For additional information please visit the Company's website at
www.cap-ex.ca.
CAP-EX VENTURES LTD.
Francois Laurin, President and CEO
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to,
statements with respect to the future drilling programs and
budgets, expected mineralization, permitting and title issues, and
the interpretation of drill results. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information. There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.
Neither 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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