VANCOUVER, BC--(Marketwired - May 28, 2015) - CAVAN VENTURES INC. ("Cavan" or the "Company") (TSX VENTURE: CVN) is pleased to announce preliminary results of up to 95.3% total carbon (Ct) from an initial beneficiation test on its 100% owned Buckingham Graphite Property.
These purity results will be used by Caribou King Resources to evaluate Cavan Ventures' Buckingham Graphite Property, which is contiguous with the northern boundary of Caribou's Buckingham Property, for a potential joint venture, as per the letter of intent announced by Cavan on April 1st, 2015.
The 20.7 kilogram surface sample, taken from Trench 22C (Cavan PR dated April 8th, 2015) with a head grade of 20.7% Cg (graphitic carbon), was concentrated by grinding and flotation and divided into three size fractions: +48, +100, and -100 mesh. All three concentrates returned high total carbon (Ct) content with low losses in the tailings and middling streams.
The +48 mesh size (jumbo size) fraction represented 21.1% of the flotation concentrate and assayed 94.1% Ct. The +100 mesh size (medium to large size) fraction represented 16.4% of the flotation concentrate and assayed 94.2% Ct. The -100 mesh size (fine to amorphous) fraction represented 48.3% of the flotation concentrate and assayed 95.3% Ct. These results are summarized in the following table:
Initial Flotation Test Results for 22C Trench:
Results were obtained in a single flotation test without process optimization. A full process development study including grinding and flotation optimization is anticipated to return higher flotation concentrate recoveries and grades, thus reducing the operating cost of a downstream purification process.
President and CEO, Peter Swistak states, "These purity test results demonstrate that we are sitting on a great deal of potential with the Buckingham Graphite Property. The numbers prove that through flotation alone, the graphite on the property can breach the 94% carbon threshold considered to be high carbon content. We fully intend to advance the Buckingham Graphite Property and these results have only further strengthened our resolve."
All carbon analyses were performed by SGS Canada Inc. (Lakefield) and are reported as graphitic carbon Cg employing a LECO SC-632 instrument.
Please see: http://www.caribouking.com/index.php?page=buckingham for maps and more information.
The technical contents of this release were approved by Mr. Case Lewis, P.Geo., and a Qualified Person as defined by National Instrument 43-101.
About Cavan Ventures
Cavan's Buckingham property consists of 24 claims located in Ranges VIII and IX, Buckingham Township, Quebec and covers an area of 1,682.8 hectares (4,157 acres). Cavan's Buckingham property is 1.7 kilometers north of the historic producing Walker graphite mine and covers the northern extension of a graphite zone on Caribou's Buckingham property. A helicopter-borne magnetic and time-domain electromagnetic survey confirmed a historic conductor, and further resolved a second parallel conductor to a length of 300 meters (see news release September 24, 2013). Two airborne geophysics programs were performed showing massive anomalies plus six graphite-rich zones in trenches on the claims followed up on these airborne anomalies. Assays from the channel sample and trenching program returned 15.55 % org C over 19.50 meters and as high as 22.8% org C over 5.4 meters, respectively.
On Behalf of the Board of Directors
CAVAN VENTURES INC.
"Peter P. Swistak"
President
"Neither 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."
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
