Cavan Acquires Additional Graphite Properties in the Tetepiska Area, Quebec
January 14, 2014 (Source: Marketwired) — CAVAN VENTURES INC. (TSX VENTURE:CVN) (“Cavan” or “the Company”) is pleased to announce the acquisition by staking of four new claim groups covering a total area of 3,398 hectares (8,395.8 acres) as part of its 100%-owned Tetepiska graphite property in northeastern Quebec, located 24 kilometers southwest of the Lac Guéret graphite project that is presently under advanced exploration (Preliminary Economic Assessment) by Mason Graphite. One of the Company’s new claim groups, the Reconnaissance Lake group, is located only 12 kilometers south of Lac Guéret. A map showing the locations of the new claim groups relative to Lac Guéret and other claim groups as described below can be seen at www.cavanventuresinc.com.
The Tetepiska-Portage claim group is contiguous with the original Tetepiska-East claim group and covers the same lithologies. As reported previously at Tetepiska-East, three rock grab samples collected along a 4.25 meter wide east-west oriented graphite-enriched zone assayed at 55.1%, 48.80%, and 10.45 % Cg respectively. A channel sample 1.9 meters in length and 5 cm wide was collected with a diamond grit saw returned an average of 52.65 % Cg, including a 63.50% Cg over 1.0 meters. A second channel sample 5.6 meters in length and with similar width collected along the northern limit of the high grade zone returned an average grade of 12.80% Cg. Both channel samples were collected perpendicular to the apparent strike of the graphite mineralization (see news release December 19, 2013).
The Lignées Lake claim group is located about two kilometers east of Tetepiska-East, and comprises four claims totalling 216.80 hectares (535.70 acres). The Lignées Lake group adjoins the western border of a Mason Graphite property with a historic graphite assay of 16.73% Cg (Rioux, 2008, Contrôle stratigraphique et qualité minéralurgique des gîtes de graphite des Lacs Guérêt et Guinecourt, Terrane Gagnon, Province de Grenville, UQAM M.Sc., 138p).
The Étages Lake claim group totals 17 mining claims covering an area of 930 hectares (2,298 acres) and is adjacent to the south of the Mason Graphite Graphi-West and East properties and roughly four kilometers east of Guinecourt Lake. The Étages group encloses about 50% of a 21 kilometer-long airborne conductor that is on trend with two historical assays of 14.98% and 16.91% Cg located roughly five kilometers to the northeast on claims held by Mason Graphite (see Mason Graphite website: www.masongraphite.com).
The Reconnaissance claim group comprises 32 mining claims covering an area of 1,325.39 hectares (4,275 acres) and are only 12 kilometers south of Lac Guéret, where Mason Graphite recently reported measured plus indicated resources of 50 million tonnes at an average grade of 15.6% Cg and cut-off grade of 5% Cg (Mason Graphite news release, December 5, 2013). The Reconnaissance claims are adjacent to Focus Graphite’s Graphi-Centre property where in 2012, Focus reported two graphite assays of 43.0% and 39.2% Cg respectively (see Focus Graphite website: www.focusgraphite.com).
The technical contents of this release were prepared and approved by Dr. C. Derosier, P. Geo., independent consultant to Cavan and a qualified person as defined by National Instrument 43-101. All samples collected on behalf of Cavan at Tetepiska-East were assayed by ALS Minerals (Val d’Or, QC; North Vancouver, BC) using the ME-MS81 (fusion lithium borate ICP-MS method) and the C-IR06 (organic carbon) Leco methods.
Get our daily investorintel update
Cavan’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. For more information visit the website at www.cavanventuresinc.com.
ON BEHALF OF THE BOARD
Peter P. Swistak, President
Some statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Cavan Ventures Inc. Actual results may differ materially from those currently anticipated in such statements. Neither the 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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>