Cavan Ventures Identifies Several Magnetic Features From Airborne Geophysics Survey on the Company’s Cage Graphite Property
September 17, 2013 (Source: Marketwired) — Cavan Ventures Inc. (TSX VENTURE:CVN) (the “Company”) is pleased to announce results from an airborne geophysics survey over its CAGE graphite property. The airborne survey has identified a number of magnetic lows within the property. The CAGE graphite property is located 36 kilometres west of Hearst, Ontario. The survey collected both high-resolution magnetic and time-domain electromagnetic (TDEM) data. The CAGE property is adjacent to Zenyatta Ventures Albany graphite deposits’ eastern boundary and situated approximately 5.5 kilometres from their east pipe where they have encountered substantial graphite mineralization (refer to Zenyatta news release July 31, 2013).
The 190 line-kilometre survey carried out by Prospectair of Gatineau, Quebec indicate a relatively flat Electromagnetic (EM) response as well as several high and low magnetic features throughout the claim block. A number of magnetic lows within the Property have been identified for further exploration. One magnetic low anomaly of significance – also visible on GSC map 3913G – is centered on claim 4268421 located on the flank of a regional high. This anomaly may indicate low susceptible material such as graphite at depth. The Company plans to further follow-up by means of ground geophysical surveys which can detect conductive material at greater depth, as TDEM response is limited to approximately 100 metres from surface.
“The results of the airborne surveys have outlined potential targets for future exploration and has significantly enhanced the exploration potential of this district,” said Peter Swistak, President of Cavan Ventures Inc. “We are excited by these early-stage results and are planning an expanded program of graphite target evaluation.”
About the CAGE Claims
The 100%-held CAGE claims are contiguous and cover an area of 768 hectares (1,897 acres). The property adjoins the eastern edge of the Albany graphite deposit that is presently under advanced exploration by Zenyatta Ventures Ltd. Drilling on an airborne EM conductor by Zenyatta identified an extensive zone of granitic breccia set in a black matrix containing graphite, including five holes with 146 metres of 5.2 per cent Cg, 177 m of 5.3 per cent Cg, 186 m of 4.9 per cent Cg and 125 m of 4.6 per cent Cg, respectively (see Zenyatta Ventures news releases, Jan. 19 and July 2, 2013). There is no certainty that similar mineralization will be found on Cavan’s property.
The technical contents of this release were approved by Brian F, Docherty P.Geo. a qualified person as defined by National Instrument 43-101.
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Cavan Venture’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>