Cavan Identifies 1,300 Meter and 300 Meter Long EM Conductors at Buckingham Graphite Property, Quebec
September 24, 2013 (Source: Marketwired) — CAVAN VENTURES INC. (TSX VENTURE:CVN) (“Cavan” or “the Company”) is pleased to announce that airborne geophysics has identified a 1,300 meter-long conductor on its 100%-owned Buckingham graphite property in Quebec. The anomaly is oriented roughly north-south, and is divided by an east-wend trending dyke into a 700-meter long southern segment and 600 meter long northern segment. This conductor coincides very well with a conductor identified in a 1982 government survey, and with graphite mineralization previously reported as having up to 11% C in grab samples. A second significant conductor was also identified that extends to about 300 m in length, and corresponds to an area where prospecting by the Company included a grab sample returned 21.70% C from a schistose paragneiss (see news release, July 8, 2013). West of this smaller conductor, five significant conductive anomalies or groups of anomalies were detected of lesser length extents, but with a response that is characteristic of strong conductors such as graphite or sulfide mineralization.
These excellent results support the potential of the Buckingham property to host significant graphite deposits. The Company will shortly undertake a second phase of exploration that will comprise a surface geophysical survey to resolve the airborne anomalies, followed by a phase of stripping and trenching and later the investigation at depth by diamond drilling of what is discovered on surface.
The helicopter-borne survey covered about 50% of the area of the property. Prospectair (Gatineau, QC) carried out the survey, with Magnor Exploration Inc. (La Baie, QC) engaged to manage the project. Both high-resolution magnetic and time-domain electromagnetic (‘TDEM’) data were collected, for a total of 135 line-kilometers. This cost effective geophysical configuration is particularly well-adapted for reconnaissance surveys, with the objective of delineating graphitic conductors to a depth of about 125 meters while maintaining good spatial resolution.
About the Buckingham Property
The Buckingham property covers an area of 1,682.8 hectares and is located adjacent to the historic Walker Graphite Mine in Buckingham Township, Quebec. Grab samples collected from Buckingham by the Company earlier this year have assayed as high as 21.70 % C from schistose paragneiss mineralized with disseminated large flakes of graphite (see news release, July 8, 2013). The Buckingham property is adjacent to, and historically a part of the old Walker Mine that was worked from the 1860’s to 1910. A geophysical survey by the Quebec Government in the 1980’s identified two linear conductors, measuring 200m and 1,000m in length, respectively.
The technical contents of this release were prepared and approved by Dr. C. Derosier, P. Geo. a qualified person as defined by National Instrument 43-101.
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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.
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