NEW CANTECH VENTURES INC.
201 - 14881 Marine Drive
White Rock, BC V4B 1C2
Tel: 604-541-7288
Email: kenya1@telus.net
Website:
http://www.newcantech.com
2007-05-31 01:48 ET - News Release
Mr. James Jacuta reports
NEW CANTECH VENTURES INC. ANNOUNCES ADDITIONAL GROUND ACQUISITION OF 50,000
ACRES SURROUNDING THEIR TWO NICKEL PROPERTIES IN THE NORTHWEST TERRITORIES
New Cantech Ventures Inc. has acquired an additional 50,000 acres to extend
the original ground package of 20,000 acres at Camsell and Munn Lake. This
staking was undertaken to acquire additional nickel showings on the properties.
The Camsell and Munn Lake properties were acquired May 25, 2007 (see news in
Stockwatch May 25, 2007), and have the potential to host three different styles
of mineralization:
- first, vein-hosted nickel, cobalt, silver and gold mineralization;
- second, magmatic cumulate nickel sulphide mineralization hosted in ultramafic intrusives; and
- third, volcanogenic-hosted massive sulphide mineralization of copper and
zinc.
Camsell Lake property
A previous grab sample from a nickel mineralized vein (gersdorffite) on the
Camsell Lake property has returned values of 16.4 per cent nickel, 0.43 per cent
cobalt, 0.176 ounce per ton gold and 1.66 ounces per ton silver. This geological
setting is similar to that of the silver cobalt district in Ontario with significant implications to sulpharsenide vein deposits, which may return
appreciable cobalt, nickel and arsenide.
The Camsell Lake property is also host to a small rhyolite body which has
returned assay values up to 2 per cent copper and 2 per cent zinc, suggesting
the potential of volcanogenic massive sulphide mineralization.
Munn Lake property
Previous government mapping in the Munn Lake area has documented the
emplacement of mafic-ultramafic intrusions within a band of metamorphosed
turbidite sediments. These differentiated mafic-ultramafic intrusions are host
to many fine grains of sulphides, indicating a probable sullphur saturation of
the magma. One polished section in the fresher part of the intrusive showed
typical nickel sulphide mineralization of pyrrhotite-pentlandite in equal
amounts suggesting a favourable Ni-S ratio.
Qualified person
Gary Vivian, MSc, PGeol, a qualified person under National Instrument 43-101,
has reviewed and approved the technical disclosure in this news release.
About New Cantech
New Cantech is a TSX Venture company
focusing on the development of its Lucky Ship Molybdenum Project in northern
British Columbia. In addition to the Lucky Ship Project, New Cantech is pursuing
other related mineral projects that may be beneficial to
shareholders.
For more information please contact Dalton B. DuPasquier,
President & CEO of New Cantech Ventures Inc., at (604) 541-7288 or visit
Cantech's website at http://www.newcantech.com.
ON BEHALF OF THE BOARD OF
DIRECTORS
"James Jacuta", Chairman
NEW CANTECH VENTURES
INC.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of the information
contained herein.
For investor enquiries contact:
John R. Chalcraft, ProActive Communications
#201 - 2383
King George Hwy., White Rock, BC, V4A 5A4
Local: (604)
541-1995; Toll free: 1 (800) 540-1995
email: johnchalcraft@shaw.ca