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 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.
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