January 17th, 2013
Cap-Ex Ventures Ltd. (TSX-V: CEV) (Frankfurt: X0V) (OTCQX: CPXVF) (“Cap-Ex” or the “Company”) is pleased to announce that the final set of assay results from the 2012 drill program have been received on the Block 103 Property located in Western Labrador. All results will be included in the upcoming resource estimate, which is scheduled to be released within the next few weeks.
All remaining holes intersected significant iron mineralization. Intervals ranged up to 256.8 metres in thickness with total iron content ranging from 27.0% to 31.3%. The 2012 drill program covered an area of just over 6 square kilometers, which is 50% more than originally planned.
Highlights of assay results include:
|
Hole |
From |
To |
Length |
Total Fe |
|
DDH103-063 |
42.1 |
141.4 |
99.3 |
28.80 |
|
and |
206.7 |
319.4 |
112.7 |
30.13 |
|
DDH103-067 |
1.5 |
234.9 |
233.4 |
30.58 |
|
including |
36.3 |
51.5 |
15.2 |
36.14 |
|
DDH103-091 |
4.8 |
231.3 |
226.5 |
29.91 |
|
including |
45.4 |
66.8 |
21.4 |
35.85 |
|
DDH103-092* |
2.0 |
204.2 |
202.2 |
29.16 |
|
including |
51.9 |
79.0 |
27.1 |
34.16 |
|
DDH103-094 |
2.0 |
258.8 |
256.8 |
28.82 |
|
DDH103-095* |
1.8 |
31.8 |
30.0 |
29.40 |
|
and |
73.1 |
143.0 |
69.9 |
27.23 |
|
and |
160.4 |
303.3 |
142.9 |
29.73 |
|
and |
344.8 |
395.9 |
51.1 |
30.50 |
|
DDH103-096 |
24.1 |
42.4 |
18.3 |
28.07 |
|
and |
69.8 |
211.2 |
141.4 |
29.11 |
|
and |
258.4 |
269.2 |
10.8 |
31.11 |
|
and |
279.6 |
341.3 |
61.7 |
29.58 |
|
and |
359.5 |
382.0 |
22.5 |
31.12 |
|
DDH103-097* |
1.1 |
94.2 |
93.1 |
27.78 |
|
and |
109.4 |
160.5 |
51.1 |
29.07 |
|
and |
188.0 |
251.2 |
63.2 |
28.60 |
|
and |
294.7 |
305.0 |
10.3 |
31.67 |
|
and |
347.2 |
417.3 |
70.1 |
30.96 |
|
DDH103-098 |
6.1 |
85.0 |
78.9 |
27.81 |
|
and |
137.8 |
188.7 |
50.9 |
29.95 |
|
and |
201.5 |
307.5 |
106.0 |
27.05 |
|
and |
389.3 |
402.3 |
13.0 |
31.29 |
|
DDH103-118 |
57.6 |
307.5 |
249.9 |
29.14 |
|
DDH103-119* |
9.0 |
182.2 |
173.2 |
29.09 |
|
including |
24.1 |
39.3 |
15.2 |
33.71 |
|
DDH103-141* |
5.4 |
100.3 |
94.9 |
29.33 |
|
and |
194.8 |
291.3 |
96.5 |
28.89 |
|
and |
325.8 |
368.5 |
42.7 |
26.99 |
|
DDH103-142* |
20.3 |
94.2 |
73.9 |
29.49 |
|
and |
121.6 |
138.3 |
16.7 |
28.70 |
|
and |
147.0 |
152.1 |
5.1 |
35.46 |
|
and |
200.9 |
224.5 |
23.6 |
30.81 |
|
and |
237.4 |
316.7 |
79.3 |
30.62 |
|
DDH103-143 |
60.6 |
190.2 |
129.6 |
28.49 |
|
and |
250.5 |
392.6 |
142.1 |
27.82 |
|
DDH103-144* |
5.0 |
173.0 |
168.0 |
29.60 |
|
and |
206.0 |
221.0 |
15.0 |
31.15 |
|
and |
316.0 |
370.0 |
54.0 |
29.50 |
|
and |
456.2 |
487.0 |
30.8 |
28.60 |
|
DDH103-145 |
12.4 |
134.0 |
121.6 |
29.53 |
|
and |
149.0 |
177.0 |
28.0 |
29.99 |
|
and |
190.1 |
224.4 |
34.3 |
27.74 |
|
and |
242.8 |
350.0 |
107.2 |
31.21 |
|
DDH103-146 |
1.5 |
42.7 |
41.2 |
30.01 |
|
and |
95.0 |
146.0 |
51.0 |
27.23 |
|
and |
185.0 |
278.7 |
93.7 |
28.19 |
|
including |
233.0 |
239.0 |
6.0 |
30.19 |
* ended in iron mineralization
Location maps and cross sections are posted on the Cap-Ex website at: http://www.cap-ex.ca/projects/block-103 .
“We are thrilled with the results from our 2012 drill program,” says Francois Laurin, President and CEO of Cap-Ex. “Not only did we intersect continuous grade and thickness at Block 103, but we covered a significantly larger area than anticipated. We are excited for the release of our maiden resource estimate, which is expected to occur within the next few weeks.”
True widths of the reported intercepts above vary depending on the angle of the individual drill holes and are estimated to be between 65% and 100% of the core interval as reported. All samples were prepared from split BTW-sized half-core sections on-site in Labrador. Split drill core samples have been sent to independent contractor Acme Analytical Laboratories in Vancouver, BC for analyses. Total iron analysis is performed using X-ray fluorescence (XRF) and the magnetic component is determined by Satmagan magnetic analysis. FeO titration analysis permits an estimation of hematite. Standards, blanks, and duplicate assays are included at regular intervals in each sample batch submitted from the field as part of an ongoing Quality Assurance/Quality Control program.
Qualified Person
Edward Lyons, P. Geo., a consultant to the Company and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release. Mr. Lyons has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information disclosed in this news release. Mr. Lyons has verified that the results were accurate from the official assay certificates provided to Cap-Ex.
About CAP-EX Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Property in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company’s website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
On behalf of the Board
“Francois Laurin”
President and CEO
For Investor Relations, please contact:
Konstantine Tsakumis
1-866-683-8030 ext. 232
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www.cap-ex.ca
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company’s Block 103 iron ore property, future exploration plans and the expected timing for completion of an NI 43-101 mineral resource estimate and a preliminary economic assessment. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER 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.