CABO DRILL CONTRACT
DOUBLED TO 14,000 METERS BY RICHVIEW RESOURCES - SECOND DRILL MOVES TO
THIERRY MINE PROPERTY
North Vancouver,
BC - October 1, 2007 - Cabo Drilling Corp. (TSX-V: CBE)
(“Cabo” or the “Company”) announces that its
Ontario division has been awarded a second 7,000-meter drill contract by
Richview Resources Inc. (TSX: RVR) of Toronto, Ontario, increasing
Cabo’s NQ core drilling at Richview’s Thierry Mine property
near Pickle Lake, Ontario, to 14,000 meters. The Company announced its
first 7,000-meter contract by news release August 14, 2007 (also see
Richview’s news release dated September 12, 2007).
The Company is currently
running a JKS Boyles BBS-56 Diamond drill on the project and has added a
JKS Boyles BBS-37, unitized Diamond drill. The second drill was mobilized
to the property to assist with the completion of Richview’s
14,000-meter drill program at an accelerated rate. Richview has fully
upgraded its field facilities and is able, with independent power
generation, all weather access roads and upgraded equipment, to operate
uninterrupted through the winter for year-round exploration and development
of the Thierry Mine property. These upgrades also facilitate the
continuation of the drill program through the Fall and Winter months.
Richview is drilling
beneath the previously mined workings level of 1,600 feet to determine the
depth and extent of the inferred resource mineralization and is exploring
areas extending from its original 2,500-foot strike zone.
About Richview
Resources Inc. (TSX: RVR)
Richview is the sole owner of the past-producing Thierry
Mine property in northwestern Ontario. The company is continuing
exploration on gold joint venture projects at Pickle Lake (RVR 75%) and at
Headway in the Red Lake camp (RVR 15%). Richview is a Canadian company
committed to responsible development of natural resources while respecting
local environment, community and social interests.
About Cabo
Drilling Corp. (TSX-V: CBE)
Cabo Drilling Corp. is a drilling services company
headquartered in North Vancouver, British Columbia, Canada. The Company
provides mining related and specialty drilling services through its
Canadian divisions in Surrey, British Columbia; Montréal, Quebec;
Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo
Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo
Drilling (Panama) Corp. of Panama, Republic of Panama; and Cabo Drilling
Spain S.L. of Sevilla, Spain. The Company’s common shares trade on
the TSX Venture Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD
“John A. Versfelt”
John
A. Versfelt Chairman,
President and CEO
Further information about the Company can be found on the Cabo
website (http://www.cabo.ca) and SEDAR (www.sedar.com) or by contacting
Investor Relations Ms. Sheri Barton at 403-217-5830 or Mr. John A.
Versfelt, Chairman, President & CEO of the Company at
604-984-8894.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release. This news release may contain
forward-looking statements including but not limited to comments regarding
the timing and content of upcoming work programs, geological
interpretations, potential mineral recovery processes and other business
transactions timing. 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.-
CONTACT:
John
A. Versfelt, Chairman,
President
and CEO
web site: www.cabo.ca
Telephone:
(604) 984-8894 Facsimile: (604)
983-8056 e-mail: ir@cabo.ca
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