Cavan Receives Positive Trenching Assays at Buckingham Graphite Property, Quebec
July 8, 2014 (Source: Marketwired) — CAVAN VENTURES INC. (TSX VENTURE:CVN) (“Cavan” or “the Company”) is pleased to announce exceptional assays for graphite-rich zones as a result of trenching on its 100%-owned Buckingham graphite property, located adjacent to the historic Walker Graphite Mine in Buckingham Township, Quebec. Graphite-rich zones were channel-sampled from four trenches, with the best results returning up to 17.8% Corg (Organic Carbone) over 5.5 meters, 8.20% Corg over 4.75 meters, 12.10% Corg over 4.0 meters and 12.3% Corg over 3.5 meters.
Peter Swistak, President of Cavan states, “The high carbon assays from our Buckingham project confirm our expectations of significant graphite mineralization on the Buckingham property. We now have positive assays that can be directly correlated with our ground-based geophysics. Our geophysics has identified many conductors that are yet to be tested, which we plan to prioritize for further exploration in the coming weeks.”
In May, the Company engaged Magnor Exploration Inc. (La Baie, QC) to conduct an exploration work program, which included ground-based geophysics that was used to resolve airborne EM anomalies identified last year (see news release, September 24, 2013). With the help of a hydraulic shovel, six trenches ranging from four to 48 meters in length and two meters in width were completed. Trench 22C was cut for 24 meters in a northwest direction, with a second perpendicular trench cut at its southeast end for 20.5 meters. Graphite-rich zones were exposed in both trenches and channel-sampled with a rock saw over lengths from 0.50-1.25 meters and widths at 11.5 centimeters. In the southwest trenches, the best sample returned 17.8% Corg over 5.5 meters with two additional samples returning 1.21 % Corg and 1.57% Corg over 1.25 meters each. On the northeast trenches, a channel sample 0.50 meters in length returned 19.5% Corg, two additional samples assayed at 17.9% and 4.53% Corg over 1.25 meters each, with a fourth channel returning 22.8% Corg over 5.4 meters.
The second trench (Trench #1 in the news release of June 3, 2014) is located 80 meters west-southwest of Trench 22C, and oriented in a west-northwest direction. The trench has an angle of about 35° with the EM conductor axis and the stratigraphy. The excavation exposed visible graphite that was channel-sampled over 25.6 meters at 1.25 meter intervals, with individual intervals ranging from 0.35% Corg to 16.7% Corg. The central part of the trench was not sampled but showed large disseminated graphite flakes. The highest results from west to east are 8.20% Corg over 4.75 meters, 12.10% Corg over 4.0 meters and 12.3% Corg over 3.5 meters. This mineralization is open to the west with the EM conductor also becoming much stronger to the southwest. A new graphite zone was also discovered roughly 150 meters northeast of Trench 22C, where granitic-pegmatitic rocks contain graphite-rich veins. A grab sample of one 5cm-thick vein returned 86.5% Corg with flakes over 5mm in diameter.
Images of graphite-rich zones in the trenches can be seen on the Company website at www.cavanventuresinc.com.
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. Graphite samples were assayed by ALS Minerals using the C-IR06 method (Leco) for organic Carbone. No standards or blanks were inserted by Cavan’s team. ALS made its own duplicates and used its own standards.
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>