CABO TO
DRILL 17,000 METRES ON
SHERWOOD COPPER CORP MINTO PROJECT IN YUKON
North Vancouver, BC – Cabo Drilling
Corp. (TSX-V:CBE) (“Cabo” or the “Company”)
announces that Sherwood Copper Corp. of Vancouver, British Columbia, has
awarded Cabo’s Pacific division a contract for approximately 17,000
metres of NQ-2 and HQ core drilling on Sherwood’s Minto project
northwest of Carmacks, Yukon. This will be Cabo’s second contract
with Sherwood Copper following the successful completion of a similar sized
program on the Minto project last year. The Minto Mine project is a
high-grade copper-gold deposit located in Yukon, Canada. Sherwood Copper
reports development of the mine is now more than 90 percent complete and is
on target to commence production by the end of second quarter of 2007.
Drilling has already commenced on the Minto Mine property.
Cabo is utilizing two hydraulic longstroke drill rigs to carry out this
project. The purpose of the program is to define and expand the Minto
project reserve base. It is anticipated the program will run until
September 2007.
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 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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