CABO
ANNOUNCES AWARD OF DRILLING CONTRACT
BY AMLIB UNITED MINERALS INC.
North Vancouver, BC – Cabo Drilling
Corp. (TSX-V: CBE) (“Cabo” or the “Company”)
announces that it has been awarded a contract by AmLib United Minerals Inc.
(“AmLib”) for a minimum of 10,000 meters of reverse circulation
drilling and 5,000 metres of core drilling. The project is located at
AmLib’s Kokoya exploration property near Dean Town in the Kokoya
district of Bong County, Liberia.
The Company is working
closely with AmLib, a Jersey (Channel Islands) corporation, on this
particular drilling operation. AmLib has extensive experience in the
region and is currently the largest mineral exploration company in the
country, with 3,200 square kilometres under license. AmLib will be
providing all transportation, camp facilities, support workers, security,
fuel and administration in Liberia.
Cabo’s Heath & Sherwood Drilling Inc. division will carry out the
core drilling, while Forage Cabo Inc., the Company’s Montreal
division, will provide the reverse circulation drilling. Canadian drill
crews and the necessary equipment have been mobilized to the site and
drilling is scheduled to commence in the next few days. AmLib’s and
the Company’s management teams have been working together to expedite
drills and people into Liberia. AmLib will provide significant people
resources in support of Cabo’s drilling team.
“Cabo Drilling Corp. has established itself as one of the larger
drilling service companies serving the mining industry in Canada, Mexico
and Panama,” stated John Versfelt, Cabo’s Chairman, President
and CEO, “We continue to look for unique opportunities to grow with
our clients, employing our surface and underground drilling
expertise.”
Several West African
countries including Mali, Burkina Faso, Ghana and Guinea have witnessed a
boom in gold exploration, discovery, development and production over the
past ten years. Now that peace has returned to Liberia and reconstruction
is underway with strong international support, there is a major opportunity
to apply modern exploration techniques to numerous gold projects previously
reported, but neglected for decades. Other companies with recent or
current interests in Liberia include, but are not limited to: BHP
Billiton, Diamond Fields International, Freedom Gold Ltd., Broadway Mining
plc, Ducor Minerals Inc., and Mano River Resources Inc.
AmLib
United Minerals is a privately owned corporation organized to explore
mineral prospects in Liberia, West Africa. AmLib’s executive
offices are located in the capital city, Monrovia, and its field
headquarters are in the Kokoya district of central Liberia. AmLib
currently has exploration projects in Bong, Grand Gedeh, Montserrado, Grand
Bassa and River Cess Counties.
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 subsidiaries Advanced Drilling Ltd. of
Surrey, British Columbia; Forages Cabo Inc. of Montréal, Quebec;
Heath & Sherwood Drilling Inc., of Kirkland Lake, Ontario; Petro
Drilling Company Limited of Springdale, Newfoundland; 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, SL 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 Ms. Sheri
Barton, Investor Relations
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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