NEW CANTECH VENTURES INC.
NEWS RELEASE
New
Cantech Ventures Inc. Announces Completion of the Phase 4 Infill Drilling
Program and start of Geotechnical Drilling
August 20,
2007
As announced
in previous news releases, New Cantech Ventures Inc. (�Cantech�) (TSXV:NCV, FSE:C7X), is
conducting infill drilling at the Lucky Ship Molybdenum Property, located 85
kilometres by road southwest of Houston B.C. The main objectives of this drilling were to move that part of the Lucky Ship mineral resource classified as
inferred into the indicated category and to provide initial groundwater
(hydrology) information on the deposit. The groundwater drilling is part of the
baseline assessments for project development.
The infill
drilling program, designated as Phase 4, was started on February 20, 2007 and
was targeted to complete over 14,000 metres of diamond drilling in 47 holes.
Drilling on the property was suspended on April 29, 2007 after completion of
11,781 metres of drilling in 38 holes (LS07-69 to LS07-106) because spring thaw
conditions made roads to the property unusable. On July 7, 2007 Driftwood
Diamond Drilling of Smithers B.C. moved a skid mounted drill back onto the
property and resumed drilling. Since then an additional 1,931 metres of drilling
has been finished in eight holes (LS07-107 to 114). Complete assay results for
these holes should be available by the middle of September. Results for drill
holes LS07-69 to LS07-106 were disclosed in previous news releases. The Phase 4
drilling program is now complete.
Driftwood
Diamond Drilling has now moved their drill to an area south and down slope from
the Lucky Ship deposit where a number of short, vertical geotechnical holes will
be drilled. These holes will be used by Lorax Environmental Services Ltd., of
Vancouver BC to assist in determining the pre-existing (baseline) groundwater
parameters at a location down gradient of the deposit. This work is required as
part of any project development and will be utilized for groundwater (hydrology)
modeling of the site.
When the
geotechnical drilling is finished, the drill will be moved to a location 400
metres northwest of the Lucky Ship deposit. The target of this drilling, which
will be designated Phase 5, is an area of north trending, steeply dipping
quartz-molybdenite veins observed in a large gossanous outcrop east of the old
access road. Amax drilled a vertical hole in this area (LS07-05) that
intersected 0.141% Mo over 6.1 metres at a depth of 338 metres below surface.
Cantech
has applied for a permit to drill a number of additional geotechnical evaluation
holes, in an area identified as a potential tailings storage facility (T6B).
This drilling will be completed using both a truck mounted and a helicopter
supported coring drill. The purpose
of this drilling is to determine the foundation conditions under the proposed
tailings dams.
The
following environmental and engineering assessments on the project are in
progress:
- Evaluation
and geotechnical assessment of Tailings Storage Facilities � Siting and Layout
Options � BGC Engineering Inc.;
- LIDAR
topographic survey � Terrapoint;
- Evaluation
of groundwater (hydrogeology) quality and flows, Metal Leaching/Acid Rock
Drainage evaluation, Surface Water and Sediment Quality - Lorax Environmental
Services Ltd. and Ecos Environmental Consulting Inc.;
- Aquatic
Biota, Fish Assessment Programs, Terrestrial &
Predictive Ecosystem Mapping Vegetation, Wildlife, Archaeology and
Air Quality � JacquesWhitford-Axys;
- Hydrology-
Golder Associates; and
- Refinements
to the Preliminary Economic Assessment � ACA Howe International
Ltd.
Qualified Persons
Dr.
Donald G. MacIntyre, P.Eng., a qualified person under National Instrument
43-101, has been supervising Cantech�s 2007 Phase 4 drill program, will be
supervising Cantech�s Phase 5 drill program and has reviewed and approved the
technical disclosure in this news release.
Bruce
Graff, P. Eng., a qualified person under National Instrument 43-101, is the
Lucky Ship Project Manager has been supervising Cantech�s 2007 developmental
studies and has reviewed and approved the technical disclosure in this news
release regarding the environmental and engineering development
studies.
About
Cantech
Cantech
is a TSX Venture listed mineral exploration and development company focusing on
the development of its Lucky Ship Molybdenum Property in northern 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.
For more
information please contact Dalton B. DuPasquier, President and 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�
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.