RE:Cavan Signs Agreement to Drill Buckingham Graphite PropertyNews release reference from today's news release: Providing a good summary of all work completed to date on Buckingham GRAPHITE property, Quebec..... and why they are now Drilling!
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TSX VENTURE : CVN
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July 17, 2014 08:00 ET
Cavan Receives New Calculation of Average Grades on its Buckingham Graphite Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 17, 2014) -Cavan Ventures Inc. ("Cavan" or the "Company") (TSX VENTURE:CVN) announces it has received from its geological team a new calculation of the average grades obtained from the assay results of a stripping and channel sampling program executed at the end of May 2014 on its prospective Buckingham graphite property.
Trench 22C was dug over an outcrop which previously returned 22% organic Carbon ("organic C"). Overburden was removed over 24 metres in a northwest direction, with a second trench cut at its southeast end for 20.5 metres. Graphite-rich bands were exposed in both excavations and sampled with a rock saw.
Trench 22C returned 21.6 % organic C over 14.5 metres in its NW part and 16.8% org C over 3.9 metres in its SE part. The mineralization is open to the NW and extends under a small creek and for few additional meters to the SE. Based on all assays obtained on the NW branch, the geologists' calculation gives a grade of 20.5 org C over 21 metres. The mineralized zone is still open on the NW and SE sides.
The SW branch returned 17.8 % org C over 5.5 metres and two additional channel samples on the southwest extension returned respectively 1.21 % org C and 1.57% org C over 1.25 metres each. The calculation of composite samples for this branch now gives 15.55 % org C over 19.50 metres, including one short channel sample (0.50 metre long) which retuned 19.5% org C, two other samples which gave respectively 17.9 % and 4.53% org C over 1.25 metres each and the third channel returned 22.8% org C over 5.4 metres.
These excellent results confirm the economic potential of the Buckingham property and encourage the Company to undertake the second phase of its exploration program which will comprise the investigation at depth by diamond drilling of what was found on surface.
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 assays were obtained at ALS Minerals (North Vancouver, B.C.) using protocol C-IR06 (Leco method).
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
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770