Aug. 14 : GOV Provides Exploration Update GeoVenCap Provides Exploration Update
MONTREAL, Aug. 14, 2012 /CNW Telbec/ - GeoVenCap Inc. (TSXV: GOV) ("GeoVenCap") is pleased to provide a progress update on gold and silver exploration programs underway on its different projects in northern New Brunswick.
California Lake
A diamond drill program was recently completed on the California Lake silver project with 2,003 metres drilled in twelve holes. The main focus of the program was to test the strike extension of the mineralized zones that had previously been drilled over a maximum strike length of approximately 600 meters (see press release of May 24, 2012). A total of 386 metres of drill core has been split and samples sent to AGAT Laboratories in Mississauga for analyses with analytical results expected shortly.
Upsalquitch
In July, a trenching program was completed in the south part of the Upsalquitch Project approximately 2 km south of previous gold discoveries on the adjacent Williams Brook property. Trenching was carried out to test induced polarization (IP) anomalies (chargeability) proximal to angular quartz boulders discovered in 2011 that assayed 40.50, 4.64 and 2.76 g/t Au. Alteration zones with local quartz veins were identified in trenches TR5495-12B, -12C and -12F located on metric grid line nos. 500N, 700N and 0N respectively. Alteration occurs over widths up to 50 meters in the trenches and is associated with a chargeability anomaly that extends for 1 km through the entire survey grid and remains open along strike to the northeast and southwest. Quartz vein samples collected from geological mapping in 2012 have returned values of 6.69 and 1.02 g/t Au approximately 2 km to the southwest of trench TR5495-12F and along the trend indicated by the chargeability anomaly. Results are pending for 94 samples collected from the trenching program.
IP results have been received for a survey carried out approximately 2 km south of the trenching program. Chargeability anomalies have been identified that are proximal to soil geochemical anomalies with soil values ranging up to 356 ppb Au. A trenching program is planned to test the chargeability/soil anomalies.
Williams Brook
An induced polarization survey recently completed on the Williams Brook property has identified a chargeability anomaly proximal to an anomalous soil geochemical value of 63 ppb Au. A trenching program is planned to test this anomaly and various other targets on the Williams Brook property.
Arthur Hamilton, P.Geo., Director of Exploration for GeoVenCap Inc. is a Qualified Person as defined under NI 43-101 guidelines and has reviewed the technical information contained in this release.