VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 3, 2014) - CAVAN VENTURES INC. (TSX VENTURE:CVN) ("Cavan" or "the Company") is pleased to announce it has exposed graphite-rich zones as a result of trenching on its 100%-owned Buckingham graphite property, located adjacent to the historic Walker Graphite Mine in Buckingham Township, Quebec. Graphite-rich zones were exposed in six trenches, and channel samples were collected from two trenches over a combined distance of 59.5 meters. Graphite-rich outcrops at the same location as one of the trenches assayed at 21.7% C (see news release, July 8, 2013).
Peter Swistak, President of Cavan states, "We are extremely pleased that many of our airborne EM anomalies identified last year are now confirmed as graphite mineralization. Our ground geophysics was able to confirm the anomalies in real-time, which allowed us to quickly expose the mineralization and collect samples for assay. We anticipate highly positive results and intend to return for further exploration in the coming weeks."
In May the Company engaged Magnor Exploration Inc. (La Baie, QC) to conduct a short exploration work program. Ground-based geophysics was used to ground-truth airborne EM anomalies identified last year (see news release, September 24, 2013) using the PhiSpy portable TDEM system. PhiSpy generates real-time EM profiles of the area being surveyed, and can detect buried conductors to approximately 10m depth. Dube & Desaulniers Geoscience (Ottawa, ON) was engaged to collect 3.3 line-km of survey data over priority airborne EM anomalies using the PhiSpy system. The real-time interpretation of TDEM data allowed the Company to execute trenching on several high priority targets.
A total of six trenches ranging from four to 48 meters in length and two meters in width were completed. Trench 22C was cut for 24 meters in a northwest direction, with a second perpendicular trench cut at its southeast end for 20.5 meters. Graphite-rich zones were exposed in both directions, and channel samples were collected over most of both trench lengths for a total of 33.9 meters. Mineralization at Trench 22C is still open to the north, with some visible flakes in the trench up to one centimeter in diameter. A rock grab sample assayed previously from this location returned 21.7% C (see news release, July 8, 2013). Trench #1 was cut in a west-northwest direction, with visible graphite channel-sampled over 25.6 meters. Because of the rich nature of the mineralization, these samples and those from Trench 22C were immediately shipped for assay.
A new graphite zone was also discovered roughly 150 meters east of Trench 22C, where graphite-rich veinlets in granitic-pegmatitic rocks contain graphite flakes over 5 mm in diameter. Additionally, an airborne anomaly approximately 400 meters north of the main set of conductors was confirmed by PhiSpy, but the program ended before this new target could be tested through trenching.
All channel samples were collected over widths of 11.4 cm. Details of the channel sampling and geology will be provided when assays are received, which are expected in the next few weeks. Images of the graphite-rich zones can be seen on the Company website at www.cavanventuresinc.com.
The technical contents of this release were reviewed by Roger Ouellet, P. Geo. a qualified person as defined by National Instrument 43-101.
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.
To view the accompany photo associated with this news release, visit the following link:
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ON BEHALF OF THE BOARD
Peter P. Swistak, President
Forward-Looking Statement:
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.