NEW CANTECH VENTURES INC.
201 - 14881 Marine Drive
White Rock, BC V4B 1C2
Tel: 604-541-7288
Email: kenya1@telus.net
Website:
http://www.newcantech.com
New Cantech resumes diamond drilling at Lucky Ship
2007-07-10 01:55 ET - News Release
Mr. Dalton DuPasquier reports
NEW CANTECH VENTURES INC. ANNOUNCES RESUMPTION OF DIAMOND DRILLING ON ITS
LUCKY SHIP MOLYBDENUM PROPERTY
As announced in a previous news release, New Cantech Ventures Inc. is currently conducting its phase 4 infill drilling program at the Lucky Ship
molybdenum property, located 85 kilometres by road southwest of Houston, B.C.
The phase 4 program was targeted to complete 47 drill holes for a total of
14,137 metres of drilling. It was initiated on Feb. 20, 2007. The main
objectives of this drilling program were to move that part of the Lucky Ship
mineral resource classified as inferred into the indicated category and to
provide initial groundwater (hydrology) information on the deposit. The
groundwater drilling is part of the baseline assessments for project
development. As of April 29, 2007, Cantech had completed 38 of the projected 47
drill holes (LS07-69 to LS07-106), totalling 11,781 metres. Because of spring
thaw conditions, which made roads to the property unusable, drilling on the
property was suspended on April 29, 2007. Driftwood Diamond Drilling of
Smithers, B.C., moved a skid-mounted drill onto the property and drilling
resumed on July 7, 2007. The remaining holes comprising the phase 4 program
should be completed in the next three weeks. This will be followed by three
additional holes (phase 5) totalling 1,200 metres that will target an area of
molybdenum mineralization uphill and 400 metres northwest of the main molybdenum
deposit.
Work has also started on a 95-kilometre soil geochemical grid covering the
Moly King property currently under option to Cantech (see previous news
releases, including news in Stockwatch of May 23, 2007). This property is
completely surrounded by the eastern portion of Lucky Ship claim group. As of
July 8, 2007, approximately one-third of the grid had been sampled. This work is
progressing slowly due to the terrain and patches of snow at higher elevations.
It is estimated that this work will be done in another four to five weeks. All
results from this sampling should be received by mid-August. At that time, a
decision will be made regarding additional work on the property.
The Moly King claim is located within an area explored by Falconbridge nickel
mines back in 1969. Falconbridge carried out a limited exploration program of
mapping and geochemical surveying (British Columbia Assessment Report 1809).
There are very few outcrops on the property.
Falconbridge's geochemical work in 1968 outlined an irregular zone of anomalous Cu and Mo in soils over an area of roughly 1,500 by 2,000 feet. This
anomaly, plus showings in creeks cutting through the anomaly, present an attractive exploration target. Cantech's current soil geochemical sampling
program is designed to further test this area.
Qualified person
Dr. Donald G. MacIntyre, PEng, a qualified person under National Instrument
43-101, has been supervising Cantech's 2007 phase 4 drill program, will be
supervising Cantech's phase 5 drill program and has been supervising the geochemical work on the Moly King property and has reviewed and approved the
technical disclosure in this news release.
About New Cantech
New Cantech is a TSX Venture company
focusing on the development of its Lucky Ship Molybdenum Project in northern
British Columbia. In addition to the Lucky Ship Project, New Cantech is pursuing
other related mineral projects that may be beneficial to
shareholders.
For more information please contact Dalton B. DuPasquier,
President & CEO of New Cantech Ventures Inc., at (604) 541-7288 or visit
Cantech's website at http://www.newcantech.com.
ON BEHALF OF THE BOARD OF
DIRECTORS
"Dalton DuPasquier" President & CEO
NEW CANTECH VENTURES
INC.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of the information
contained herein.
For shareholder enquiries contact:
John R. Chalcraft, ProActive
Communications
#201 - 2383 King George Hwy., White Rock, BC, V4A
5A4
Local: (604) 541-1995; Toll free: 1
(800) 540-1995
email: johnchalcraft@shaw.ca