New Cantech to review IXL results and decide on option
2007-09-14 20:36 ET - News Release
Mr. James Jacuta reports
RECEIPT OF DRILLING RESULTS ON THE IXL PROPERTY
New Cantech Ventures Inc. and its joint venture partner, Cougar Minerals
Corp., have received the results from the recent Diamond drill program on their
50/50 jointly optioned IXL property, located 55 kilometres north of Grand Forks,
in Southern British Columbia. Results from drilling were disappointing.
Four NQ Diamond drill holes, totalling 716.4 metres, were drilled. Holes IXL
07-1, 07-2 and 07-3 were drilled in the eastern part of the property, to test
the Jack showing and to test a nearby electromagnetic conductor delineated by
the spring 2007 Aeroquest helicopter-borne geophysical survey. Hole IXL 07-4 was
drilled at the IXL showing, in the western part of the property, where previous
work (trenching and Diamond drilling) was done by the company in 2004 and 2005.
A total of 162 drill core samples were collected and shipped to Acme
Analytical Labs in Vancouver for analysis for a multielement ICP-MS package
(Acme Group 1DX method) and for gold by 30-gram fire geochem analysis (Acme
Group 3B method). Sample intervals were determined by mineralization and geology, but were generally two or three metres. Core was sawn, with half-core
samples submitted for analysis. Quality control measures, including
company-inserted standards and blanks, were implemented in the program.
Low-grade zinc mineralization and low-grade copper skarn mineralization were
intersected in the drill holes, as listed in the table. The relationship between
drilled intercept and true width is not known. The airborne geophysical
conductor has been attributed to a zone of graphite argillite, which was intersected in holes IXL07-1, 07-2 and 07-3.
Drill hole From To Interval Cu Pb Zn Ag Au*
m m m ppm ppm ppm ppm ppb
IXL 07-1 61.15 63.95 2.80 53 473 1,331 1.4 19
162.50 164.20 2.00 302 108 1,737 1.1 12
174.50 178.50 4.00 102 1,315 2,901 2.0 24
IXL 07-2 44.30 54.60 10.30 76 309 1,339 0.9 11
151.20 154.20 3.00 186 38 9,028 0.6 35
106.20 162.20 2.00 28 29 1,071 0.3 6
IXL 07-3 34.20 40.30 6.10 35 123 2,577 1.0 21
IXL 07-4 37.30 39.80 2.50 152 968 2,915 3.9 26
71.35 87.90 16.55 1,470 14 52 1.1 260
175.70 182.00 6.30 1,265 2 28 0.7 111
* Au results by fire geochem, all other results by ICP-MS
Cantech will be reviewing these results and the overall IXL property in order
to determine whether it will proceed under its option agreement with John Wesley
Carson to acquire a 50-per-cent interest in the IXL property or whether it will
elect to drop its option on the property.
Linda Caron, MSc, PEng, is the qualified person under National Instrument
43-101 who supervised the drill program, and who has reviewed and approved the
content of this news release.
New Cantech is a TSX Venture listed mineral exploration and development
company focusing on the development of its Lucky Ship Molybdenum Property in
west central British Columbia and the advancement of its other mineral
exploration properties, most of which are located in British Columbia and all of
which are located within Canada.
ON BEHALF OF THE BOARD OF
DIRECTORS
James Jacuta
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 Shareholder enquiries contact:
John Chalcraft at
(604) 541-1995 or 1 800 540-1995