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
2007-08-13 20:48 ET
- News Release
Also News Release
(C-COUG) Cougar Minerals Corp
Mr. James
Jacuta of New Cantech Ventures Inc. reports.
COMPLETION OF DRILLING ON THE
IXL PROPERTY
New Cantech Ventures Inc.
(TSX-Venture: NCV, FSE:C7X) ("Cantech") announces that it and its joint venture
partner, Cougar Minerals Corp., have completed diamond drilling on their 50/50
jointly-owned IXL property, located 55 kilometers north of Grand Forks, in
southern B.C. Four NQ diamond drill holes, totalling 716.4 meters, were
drilled.
Holes IXL 07-1, 07-2 and 07-3
were drilled in the eastern part of the property, to test known mineralization
at the Jack showing, and to test a nearby EM (electromagnetic) conductor delineated by the spring 2007 Aeroquest helicopter-borne geophysical survey. As
previously released, select grab samples from the Jack showing, collected from
outcrop in 2005, returned values to a maximum of 8.84 per cent zinc (Zn), 3.87
per cent lead (Pb), 1.19 per cent copper (Cu), 1.9 g/t gold (Au) and 84.1 g/t
silver (Ag). Follow-up prospecting and sampling in 2007 extended the area of
mineralization and returned grades up to 11.9 per cent Zn, 6.7 per cent Pb and
107.6 g/t Ag. Surface samples were select grab samples, and are not
representative of overall grade. Neither the true width nor the full extent of
mineralization is known.
Hole IXL 07-4 was drilled at the
IXL showing, in the western part of the property, where significant previous
work (trenching and diamond drilling) was done by the company in 2004 and 2005.
Previous trenching returned values to 0.17 per cent Cu and 1.21 g/t Au over 20.5
metres, and 0.65 per cent Cu and 0.86 g/t Au over 30 metres (including 21 metres
at 0.83 per cent Cu and 1.16 g/t Au) from epidote-chlorite-magnetite altered
volcaniclastics. Previous drilling had little success at intersecting
mineralization at depth, although one intercept of 0.42 per cent Cu and 1.88 g/t
Au over 18.4 metres was returned. As above, neither the true width nor the
extent of mineralization at the IXL zone is known. Hole 07-4 tested for an
alternate orientation to mineralization, postulated from observations elsewhere
on the property, that was untested by previous work.
The 2007 drill core was removed
from the property daily, for processing in a secure facility in Grand Forks.
Core logging and sampling have been completed. Sample intervals were determined
by mineralization and geology, but were generally two or three metres. Core was
sawn, with half-core samples shipped to Acme Analytical Labs in Vancouver for
analysis for gold and a multielement ICP package. Quality control measures,
including company-inserted standards and blanks, were implemented in the program. Analytical results will be released when available.
Linda Caron, MSc, PEng, is the
qualified person under National Instrument (NI) 43-101 who supervised the drill
program and who has reviewed and approved the content of 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
"James Jacuta", Chairman
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