CABO
AWARDED 10,000 METER DRILL CONTRACT BY RAMBLER METALS AND MINING
North Vancouver, BC – Cabo Drilling
Corp. (TSX-V: CBE) (“Cabo” or the “Company”)
announces that Rambler Metals and Mining Canada Limited, a division of
Rambler Metals and Mining PLC, has awarded the Company’s Atlantic
division, a contract for a minimum 10,000 meters of surface Diamond
drilling on Rambler’s mining properties located in the Baie Verte
area of Newfoundland & Labrador.
The Company
will utilize one unitized Longyear Hydro 50 drill, and one unitized
Longyear Hydro 44 drill rig for the project. Both are capable of drilling
to depths in excess of 1,500 meters. The drill program will operate on a
two shift, 24-hour per day basis, seven days a week. The surface drilling
program will test prospective areas proximal to the past producing
mine.
The Rambler
Property is located in Canada, on Newfoundland & Labrador’s Baie
Verte Peninsula. The major centre for the region is the town of Baie
Verte, which offers mining and exploration services, deep water loading,
hotels, schools, medical facilities and recreational facilities.
About Rambler Metals and Mining Canada Limited (TSX-V:
RAB AIM: RMM)
The Rambler project covers the historic Ming and Ming West copper-gold
mines on the Baie Verte Peninsula where de-watering of the mine continues.
The de-watering/rehabilitation of the mine is anticipated for completion by
the end of March 2008 and will provide the access required for a
comprehensive underground drilling program.
About Cabo Drilling Corp. (TSX-V: CBE)
Cabo Drilling Corp. is a
drilling services company headquartered in North Vancouver, British
Columbia, Canada. The Company provides mining related and specialty
drilling services through its Canadian divisions in Surrey, British
Columbia; Montréal, Quebec; Kirkland Lake, Ontario; and Springdale,
Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of
Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama,
Republic of Panama; and Cabo Drilling Spain S.L. of Sevilla, Spain. The
Company’s common shares trade on the TSX Venture Exchange under the
symbol: CBE. ON BEHALF OF THE BOARD
“John A. Versfelt”
John A. Versfelt
Chairman, President and CEO
Further information about the
Company can be found on the Cabo website (http://www.cabo.ca) and SEDAR (www.sedar.com) or by contacting
Investor Relations Ms. Sheri Barton at 403-217-5830 or Mr. John A.
Versfelt, Chairman, President & CEO of the Company at
604-984-8894.
The TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of this release. This news release may
contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, potential mineral recovery processes and other business
transactions timing. Forward-looking statements address future
events and conditions and therefore, involve inherent risks and
uncertainties. Actual results may differ materially from those
currently anticipated in such statements.------------------------------
CONTACT:
John
A. Versfelt, Chairman,
President
and CEO web
site: www.cabo.ca
Telephone: (604)
984-8894 Facsimile: (604) 983-8056 e-mail: ir@cabo.ca
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