November 28th, 2012
Cap-Ex Ventures Ltd. (TSX-V: CEV) (Frankfurt: X0V) (OTCQX: CPXVF) (“Cap-Ex” or the “Company”) is pleased to announce that assay results have been received from the sixth and most northern drill line (Section 10480N) on the Block 103 Property located in Western Labrador. All eight holes intersected iron mineralization with six of the eight holes ending in iron mineralization. Intervals ranged up to 201 metres in thickness with total iron content ranging from 27.3% to 34.7%. This sixth drill line trends northeast/southwest and is located parallel to and approximately 450 metres north of the first drill line (Section 10000N). Additional assays are pending.
Highlights of assay results from the sixth drill line include:
|
Hole |
From |
To |
Length |
Total Fe |
|
DDH103-111 |
24.1 |
30.2 |
6.1 |
32.2 |
|
and |
82.0 |
264.9 |
182.9 |
29.1 |
|
including |
222.2 |
264.9 |
42.7 |
31.1 |
|
DDH103-113* |
18.0 |
24.1 |
6.1 |
34.7 |
|
and |
78.9 |
146.0 |
67.1 |
31.6 |
|
including |
97.2 |
127.7 |
30.5 |
32.4 |
|
and |
170.4 |
191.7 |
21.3 |
32.9 |
|
and |
280.1 |
353.3 |
73.2 |
28.5 |
|
including |
280.1 |
310.6 |
30.5 |
30.6 |
|
DDH103-114* |
1.5 |
48.5 |
46.9 |
31.3 |
|
and |
182.6 |
341.1 |
158.5 |
28.5 |
|
including |
246.6 |
277.1 |
30.5 |
32.4 |
|
DDH103-115* |
2.7 |
84.2 |
81.4 |
29.1 |
|
including |
2.7 |
37.7 |
34.9 |
30.6 |
|
and |
139.9 |
317.6 |
177.7 |
28.9 |
|
DDH103-137* |
11.9 |
213.1 |
201.2 |
29.2 |
|
including |
27.1 |
57.0 |
29.9 |
33.1 |
|
and |
286.2 |
325.8 |
39.6 |
30.3 |
|
DDH103-138* |
5.5 |
75.6 |
70.1 |
29.0 |
|
and |
206.7 |
319.4 |
112.8 |
28.6 |
|
and |
334.7 |
343.8 |
9.1 |
28.4 |
|
DDH103-139* |
5.8 |
14.9 |
9.2 |
33.1 |
|
and |
82.0 |
119.5 |
37.6 |
29.4 |
|
including |
103.3 |
118.6 |
15.2 |
31.8 |
|
and |
170.4 |
342.3 |
171.9 |
28.2 |
|
DDH103-140 |
14.9 |
72.3 |
57.4 |
30.9 |
|
and |
106.4 |
194.0 |
87.6 |
27.3 |
|
and |
212.1 |
319.7 |
107.6 |
28.4 |
|
including |
271.0 |
307.6 |
36.6 |
30.4 |
|
and |
338.0 |
365.5 |
27.5 |
28.4 |
|
and |
395.9 |
420.1 |
24.2 |
27.8 |
* ended in iron mineralization
Location maps and cross sections are posted on the Cap-Ex website at: http://www.cap-ex.ca/projects/block-103 .
“It’s great to see Block 103 continue to develop with such positive results,” says Francois Laurin, President and CEO of Cap-Ex. “We have now shifted our focus to the north and not only have the results continued to demonstrate consistent thickness and grade, we continue to have multiple holes ending in mineralization.”
Cap-Ex is evaluating the results from the 2012 drill program in order to plan and budget the next phase of drilling. An initial resource estimate is expected in Q1 2013 with a Preliminary Economic Assessment expected shortly thereafter.
True widths of the reported intercepts above vary depending on the angle of the individual drill holes and are estimated to be between 75% and 100% of the core interval as reported. All samples were prepared from split BTW-sized half-core sections on-site in Labrador. Split drill core samples have been sent to independent contractor Acme Analytical Laboratories in Vancouver, BC for analyses. Total iron analysis is performed using X-ray fluorescence (XRF) and the magnetic component is determined by Satmagan magnetic analysis. FeO titration analysis permits an estimation of hematite. Standards, blanks, and duplicate assays are included at regular intervals in each sample batch submitted from the field as part of an ongoing Quality Assurance/Quality Control program.
Qualified Person
Edward Lyons, P. Geo., a consultant to the Company and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release. Mr. Lyons has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information disclosed in this news release. Mr. Lyons has verified that the results were accurate from the official assay certificates provided to Cap-Ex.
About CAP-EX Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Property in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company’s website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
On behalf of the Board
“Francois Laurin”
President and CEO
For Investor Relations, please contact:
Konstantine Tsakumis
1-866-683-8030 ext. 232
[email protected]
www.cap-ex.ca
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company’s Block 103 iron ore property, future exploration plans and the expected timing for completion of an NI 43-101 mineral resource estimate and a preliminary economic assessment. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
November 21st, 2012
Cap-Ex Ventures Ltd (TSX-V: CEV) (Frankfurt: X0V) (OTCQX: CPXVF) (“Cap-Ex” or the “Company”) is pleased to announce that additional assay results have been received from the fourth and fifth drill lines, 8200N and 7600N respectively. All six holes intersected iron mineralization with three of the six holes ending in iron mineralization. Intervals ranged up to 251 metres in thickness with total iron content ranging from 27.8% to 34.3%. Both drill lines trend northeast/southwest and are located parallel to and south of the third drill line (Section 8800N). Additional assays are pending.
Cap-Ex is also pleased to announce the completion of its 2012 drill program within the Greenbush Zone, located on its wholly-owned Block 103 Property in western Labrador. A total of 22,300 metres in 72 holes was drilled this year.
Highlights of assay results from the fourth and fifth drill lines include:
|
Hole |
From |
To |
Length |
Total Fe |
|
DDH103-064 |
0.6 |
251.3 |
250.7 |
29.7 |
|
including |
17.7 |
42.1 |
24.4 |
40.4 |
|
including |
75.6 |
123.3 |
47.7 |
33.9 |
|
DDH103-065 |
1.5 |
8.8 |
7.3 |
34.3 |
|
and |
30.2 |
97.2 |
67.1 |
28.7 |
|
and |
146.0 |
258.8 |
112.8 |
29.4 |
|
including |
185.6 |
207.0 |
21.3 |
31.6 |
|
DDH103-066* |
2.1 |
121.9 |
119.8 |
31.1 |
|
including |
54.5 |
83.6 |
29.1 |
32.6 |
|
and |
158.2 |
271.0 |
112.8 |
29.2 |
|
including |
185.1 |
225.3 |
40.2 |
30.8 |
|
including |
252.7 |
268.8 |
16.1 |
33.4 |
|
DDH103-088* |
1.5 |
115.5 |
114.0 |
28.5 |
|
and |
139.9 |
158.2 |
18.3 |
29.3 |
|
and |
191.7 |
216.1 |
24.4 |
30.1 |
|
and |
255.7 |
335.7 |
79.9 |
31.0 |
|
DDH103-089* |
23.8 |
221.0 |
197.2 |
27.8 |
|
including |
100.0 |
128.0 |
28.0 |
31.5 |
|
and |
301.1 |
353.0 |
51.8 |
29.9 |
|
DDH103-090 |
1.5 |
99.7 |
98.2 |
28.6 |
|
including |
27.4 |
32.9 |
5.5 |
36.8 |
* ended in iron mineralization
Location maps and cross sections are posted on the Cap-Ex website at: http://www.cap-ex.ca/projects/block-103 .
“This year’s program was a huge success,” says Francois Laurin, President and CEO of Cap-Ex. “We have now intersected mineralization over a strike length of approximately 4,000 metres and a width of up to 2,300 metres, with mineralization open not only to the north and south, but to depth as well. This latest set of assay results, from our two most southern drill lines, have continued to exhibit impressive thickness and grade and I expect the same will be true as we now shift our focus to the north.”
Cap-Ex is now evaluating the results from the 2012 drill program in order to plan and budget the next phase of drilling. An initial resource estimate is expected in Q1 2013 with a Preliminary Economic Assessment expected shortly thereafter.
True widths of the reported intercepts above vary depending on the angle of the individual drill holes and are estimated to be between 70% and 100% of the core interval as reported. All samples were prepared from split BTW-sized half-core sections on-site in Labrador. Split drill core samples have been sent to independent contractor Acme Analytical Laboratories in Vancouver, BC for analyses. Total iron analysis is performed using X-ray fluorescence (XRF) and the magnetic component is determined by Satmagan magnetic analysis. FeO titration analysis permits an estimation of hematite. Standards, blanks, and duplicate assays are included at regular intervals in each sample batch submitted from the field as part of an ongoing Quality Assurance/Quality Control program.
Qualified Person
Edward Lyons, P. Geo., a consultant to the Company and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release. Mr. Lyons has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information disclosed in this news release. Mr. Lyons has verified that the results were accurate from the official assay certificates provided to Cap-Ex.
About CAP-EX Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Property in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company’s website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
On behalf of the Board
“Francois Laurin”
President and CEO
For Investor Relations, please contact:
Konstantine Tsakumis
1-866-683-8030 ext. 232
[email protected]
www.cap-ex.ca
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company’s Block 103 iron ore property, future exploration plans and the expected timing for completion of an NI 43-101 mineral resource estimate and a preliminary economic assessment. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
]]>NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
U.S. NEWSWIRE SERVICES NEWS RELEASE
November 20th, 2012
Cap-Ex Ventures Ltd. (“Cap-Ex”) (TSX-V: CEV) (Frankfurt: XOV) (OTCQX: CPXVF), is pleased to announce that it has closed the third tranche of its non-brokered private placement financing through the sale of 2,114,285 common shares on a flow-through basis (the “Flow-Through Common Shares”) at a price of $0.35 per Flow-Through Common Share, for gross proceeds to Cap-Ex of approximately $740,000. In the aggregate, the three tranches of the non-brokered private placement have resulted in gross proceeds to Cap-Ex of approximately $5.6 million.
Cap-Ex intends to use the proceeds from the sale for continued exploration of Cap-Ex’s wholly-owned Block 103 Project in western Labrador and for general corporate purposes. The gross proceeds raised from the issuance of the Flow-Through Shares will be used by Cap-Ex to incur “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) on properties located in Canada. Cap-Ex will renounce such expenses with an effective date of no later than December 31, 2012. Proceeds will also be used to secure necessary infrastructure for the next phase of the exploration program and to contribute to the CN Rail feasibility study (see News Release dated August 10, 2012).
The Flow-Through Common Shares, the common shares comprising the Units, the Warrants and any common shares issuable upon exercise of the Warrants are subject to statutory resale restrictions until February 13, 2013.
Cap-Ex will pay a finders’ fee of 6% of the gross proceeds of subscriptions from subscribers who were introduced to the private placement by certain persons who are at arm’s length to Cap-Ex as compensation for those persons introducing subscribers to the private placement. Cap-Ex will also grant such finders compensation warrants equal to 6% of the aggregate number of Flow-Through Common Shares and Units purchased by the subscribers introduced to the private placement by such finders. Each compensation warrant will be exercisable into one common share at the price of $0.32 for a period of two years from the closing date.
About CAP-EX Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Project in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to the New Millennium Iron Corp.-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company’s website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
On behalf of the Board
“Francois Laurin”
President and CEO
For Investor Relations, please contact:
Konstantine Tsakumis
1-866-683-8030 ext. 232
[email protected]
www.cap-ex.ca
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company’s Block 103 iron ore property, future exploration plans and the use of proceeds of the private placement. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
October 25, 2012
Cap-Ex Ventures Ltd (TSX-V: CEV) (Frankfurt: X0V) (OTCQX: CPXVF) (“Cap-Ex” or the “Company”) is pleased to announce that it has received the third set of assay results from its on-going drill program within the Greenbush Zone, located on its wholly-owned Block 103 Property in western Labrador. All eight holes drilled to date on this third, approximately 1,700 metre long drill line (Section 8800N), intersected iron mineralization. Intervals ranged up to 291 metres in thickness with total iron content ranging from 27.7% to 30.7%. Four of the eight holes ended in iron mineralization. This third drill line trends northeast/southwest and is located parallel to and 600 metres south of the second drill line (Section 9400N). Assay results for the first and second drill lines were released in news releases dated August 13, 2012 and September 12, 2012 respectively.
Highlights of assay results from the third drill line include:
|
Hole |
From |
To |
Length |
Total Fe |
|
DDH103-060 |
8.5 |
292.0 |
283.5 |
28.7 |
|
DDH103-061* |
45.1 |
188.4 |
143.3 |
29.3 |
|
and |
237.1 |
310.3 |
73.2 |
29.8 |
|
DDH103-062* |
1.5 |
100.8 |
99.3 |
28.9 |
|
and |
124.4 |
212.8 |
88.4 |
29.7 |
|
and |
289.0 |
320.7 |
31.7 |
28.7 |
|
DDH103-086* |
1.5 |
292.3 |
290.8 |
29.2 |
|
DDH103-087 |
3.1 |
103.3 |
100.3 |
28.1 |
|
and |
128.2 |
200.9 |
72.7 |
30.3 |
|
and |
246.6 |
309.2 |
62.6 |
28.3 |
|
DDH103-134 |
118.1 |
242.3 |
124.2 |
28.4 |
|
and |
272.8 |
300.2 |
27.4 |
30.7 |
|
DDH103-135* |
5.2 |
134.2 |
129.0 |
29.6 |
|
and |
145.0 |
337.4 |
192.4 |
27.7 |
|
DDH103-136* |
48.2 |
197.5 |
149.4 |
27.9 |
|
and |
218.3 |
267.6 |
49.3 |
29.6 |
|
and |
304.2 |
343.8 |
39.6 |
30.5 |
* ended in iron mineralization
Location maps and a cross section are posted on the Cap-Ex website at: http://www.cap-ex.ca/projects/block-103 .
“We are very pleased with this third set of assay results, as they continue to demonstrate substantial thickness and consistent grade as the drill program progresses to the south and north, expanding the zone of mineralization,” says Francois Laurin, President and CEO of Cap-Ex. “In addition to the publication of our initial resource estimate, we plan to complete a Preliminary Economic Assessment early next year. It is very exciting to see the potential of this project.”
To date, Cap-Ex has completed approximately 21,915 metres of the 22,000 metre drill program.
True widths of the reported intercepts above vary depending on the angle of the individual drill holes and are estimated to be between 70% and 100% of the core interval as reported. All samples were prepared from split BTW-sized half-core sections on-site in Labrador. Split drill core samples have been sent to independent contractor Acme Analytical Laboratories in Vancouver, BC for analyses. Total iron analysis is performed using X-ray fluorescence (XRF) and the magnetic component is determined by Satmagan magnetic analysis. FeO titration analysis permits an estimation of hematite. Standards, blanks, and duplicate assays are included at regular intervals in each sample batch submitted from the field as part of an ongoing Quality Assurance/Quality Control program.
Qualified Person
Edward Lyons, P. Geo., a consultant to the Company and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release. Mr. Lyons has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information disclosed in this news release. Mr. Lyons has verified that the results were accurate from the official assay certificates provided to Cap-Ex.
About CAP-EX Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Property in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company’s website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
On behalf of the Board
“Francois Laurin”
President and CEO
For Investor Relations, please contact:
Konstantine Tsakumis
1-866-683-8030 ext. 232
[email protected]
www.cap-ex.ca
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company’s Block 103 iron ore property, future exploration plans and the expected timing for completion of an NI 43-101 mineral resource estimate and a preliminary economic assessment. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
|
Hole |
From |
To |
Length |
Total Fe |
|
DDH103-060 |
8.5 |
292.0 |
283.5 |
28.7 |
|
DDH103-061* |
45.1 |
188.4 |
143.3 |
29.3 |
|
and |
237.1 |
310.3 |
73.2 |
29.8 |
|
DDH103-062 |
1.5 |
100.8 |
99.3 |
28.9 |
|
and |
124.4 |
212.8 |
88.4 |
29.7 |
|
and |
289.0 |
320.7 |
31.7 |
28.7 |
|
DDH103-086* |
1.5 |
292.3 |
290.8 |
29.2 |
|
DDH103-087 |
3.1 |
103.3 |
100.3 |
28.1 |
|
and |
128.2 |
200.9 |
72.7 |
30.3 |
|
and |
246.6 |
309.2 |
62.6 |
28.3 |
|
DDH103-134 |
118.1 |
242.3 |
124.2 |
28.4 |
|
and |
272.8 |
300.2 |
27.4 |
30.7 |
|
DDH103-135* |
5.2 |
134.2 |
129.0 |
29.6 |
|
and |
145.0 |
337.4 |
192.4 |
27.7 |
|
DDH103-136* |
48.2 |
197.5 |
149.4 |
27.9 |
|
and |
218.3 |
267.6 |
49.3 |
29.6 |
|
and |
304.2 |
343.8 |
39.6 |
30.5 |
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
October 12th, 2012
Cap-Ex Ventures Ltd. (“Cap-Ex”) (TSX-V: CEV) (Frankfurt: XOV) (OTCQX: CPXVF), is pleased to announce that it has closed the second tranche of its non-brokered private placement financing through the sale of 1,180,213 common shares on a flow-through basis (the “Flow-Through Common Shares”) at a price of $0.35 per Flow-Through Common Share and 2,966,942 units (the “Units”) at a price of $0.32 per Unit, for gross proceeds to Cap-Ex of approximately $1.36 million. Each Unit is comprised of one common share and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one common share of Cap-Ex at an exercise price of $0.40 for a period of 24 months from the date of issue. In the aggregate, the two tranches of the non-brokered private placement have resulted in gross proceeds to Cap-Ex of approximately $4.86 million.
Cap-Ex intends to use the proceeds from the sale for continued exploration of Cap-Ex’s wholly-owned Block 103 Project in western Labrador and for general corporate purposes. The gross proceeds raised from the issuance of the Flow-Through Shares will be used by Cap-Ex to incur “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) on properties located in Canada. Cap-Ex will renounce such expenses with an effective date of no later than December 31, 2012. Proceeds will also be used to secure necessary infrastructure for the next phase of the exploration program and to contribute to the CN Rail feasibility study (see News Release dated August 10, 2012).
The Flow-Through Common Shares, the common shares comprising the Units, the Warrants and any common shares issuable upon exercise of the Warrants are subject to statutory resale restrictions until February 13, 2013.
Cap-Ex will pay a finders’ fee of 6% of the gross proceeds of subscriptions from subscribers who were introduced to the private placement by certain persons who are at arm’s length to Cap-Ex as compensation for those persons introducing subscribers to the private placement. Cap-Ex will also grant such finders compensation warrants equal to 6% of the aggregate number of Flow-Through Common Shares and Units purchased by the subscribers introduced to the private placement by such finders. Each compensation warrant will be exercisable into one common share at the price of $0.32 for a period of two years from the closing date.
Cap-Ex Grants Options to Recently Appointed Officer
Following her appointment, Cap-Ex has granted Ms. Valéry Zamuner, Chief Legal Officer and Corporate Secretary, under the terms of its stock option plan, options to purchase up to 150,000 common shares at a price of $0.40 per share. The options vest over a two year period and have an expiry date of October 11, 2017.
About CAP-EX Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Project in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to the New Millennium Iron Corp.-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company’s website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
On behalf of the Board
“Francois Laurin”
President and CEO
For Investor Relations, please contact:
Konstantine Tsakumis
1-866-683-8030 ext. 232
[email protected]
www.cap-ex.ca
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company’s Block 103 iron ore property, future exploration plans and the use of proceeds of the private placement. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
]]>NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
U.S. NEWSWIRE SERVICES
September 27, 2012
Cap-Ex Ventures Ltd. (“Cap-Ex”) (TSX-V: CEV) (Frankfurt: XOV) (OTCQX: CPXVF), is pleased to announce that it has closed the first tranche of its non-brokered private placement financing through the sale of 10,000,000 common shares on a flow-through basis (the “Flow-Through Common Shares”) at a price of $0.35 per Flow-Through Common Share for gross proceeds to Cap-Ex of $3,500,000.
Cap-Ex intends to use the proceeds from the sale of the Flow-Through Common Shares for continued exploration of Cap-Ex’s wholly-owned Block 103 Project in western Labrador. The gross proceeds raised from the issuance of the Flow-Through Shares will be used by Cap-Ex to incur “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) on properties located in Canada. Cap-Ex will renounce such “Canadian exploration expenses” with an effective date of no later than December 31, 2012.
Cap-Ex will pay a finders’ fee of 6% of the gross proceeds of the first tranche of its non-brokered private placement to certain persons who are at arm’s length to Cap-Ex. Cap-Ex will also grant the finders compensation warrants equal to 6% of the aggregate number of Flow-Through Common Shares sold pursuant to the first tranche of the non-brokered private placement. Each compensation warrant will be exercisable into one common share at the price of $0.32 for a period of two years from the closing date.
The Flow-Through Common Shares are subject to statutory resale restrictions until January 28, 2013. Closing of the second and final tranche of the financing is expected to occur on or before October 10, 2012 and remains subject to receipt of regulatory approval, including final approval of the TSX Venture Exchange.
About CAP-EX Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Project in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company’s website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
On behalf of the Board
“Francois Laurin”
President and CEO
For Investor Relations, please contact:
Konstantine Tsakumis
1-866-683-8030 ext. 232
[email protected]
www.cap-ex.ca
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the projected use of proceeds from the financing. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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
]]>
September 17, 2012
Cap-Ex Ventures Ltd (TSX-V: CEV) (Frankfurt: X0V) (OTCQX: CPXVF) (“Cap-Ex” or the “Company”) announces that it is undertaking a non-brokered private placement financing of up to 10,000,000 common shares to be issued on a flow-through basis (the “Offered Shares”) at a price of $0.35 per Offered Share and up to 3,125,000 units (the “Units”) at a price of $0.32 per Unit, for aggregate gross proceeds of up to $4.5 million (the “Offering”). Each Unit will be comprised of one common share and one-half of one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one common share of the Company at an exercise price of $0.40 for a period of 24 months from the date of issue. The Company may, in its discretion, increase the size of the Offering and offer up to an additional $1.5 million of Offered Shares and up to an additional $2.0 million of Units.
The proceeds from the Offering will be used to continue to explore Cap-Ex’s wholly-owned Block 103 Project in western Labrador and for general corporate purposes. The success and efficiency of the original 15,000 meter 2012 budgeted drill program has resulted in increasing the drill program by almost 50%. Proceeds will also be used to secure necessary infrastructure for the next phase of the exploration program and to contribute to the CN Rail feasibility study (see News Release dated August 10, 2012).
The proceeds raised from the issuance of the Offered Shares will be used by the Company to incur “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)), related to the Company’s exploration projects. The Issuer will renounce such “Canadian exploration expenses” to subscribers with an effective date of no later than December 31, 2012.
The offering remains subject to certain conditions including, but not limited to, the approval of the TSX Venture Exchange.
The securities being offered hereby have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state or province in which such offer, solicitation or sale would be unlawful.
About CAP-EX Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Project in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company’s website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
On behalf of the Board
“Francois Laurin”
President and CEO
For Investor Relations, please contact:
Konstantine Tsakumis
1-866-683-8030 ext. 232
[email protected]
www.cap-ex.ca
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company’s Block 103 iron ore property, future exploration plans and the expected timing for completion of an NI 43-101 mineral resource estimate and a preliminary economic assessment. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward‑looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
]]>
September 12, 2012
Cap-Ex Ventures Ltd (TSX-V: CEV) (Frankfurt: X0V) (OTCQX: CPXVF) (“Cap-Ex” or the “Company”)is pleased to announce that it has received the second set of assay results from its on-going drill program within the Greenbush Zone, located on its wholly-owned Block 103 property in western Labrador. All thirteen holes drilled on this second, approximately 2,500 metre long drill line (Section 9400N), intersected iron taconite mineralization. Intersected intervals ranged from 9.2 to 235 metres in thickness with total iron contents ranging from 27.6% to 32.5%. This second drill line trends northeast/southwest and is located parallel to and 600 metres south of the first drill line (Section 10000N), assay results of which were presented in a news release dated August 13, 2012.
Location maps and a cross section are posted on the Cap-Ex website at: http://www.cap-ex.ca/projects/block-103.
Highlights of assay results from this second drill line include:
|
Hole |
From |
To |
Length |
Total Fe |
|
DDH103-056 |
89.3 |
282.6 |
193.2 |
27.6 |
|
including |
188.4 |
215.8 |
27.4 |
30.1 |
|
including |
249.3 |
273.7 |
24.4 |
30.0 |
|
DDH103-057 |
16.0 |
172.2 |
156.2 |
27.7 |
|
and |
215.8 |
328.6 |
112.8 |
29.3 |
|
DDH103-106 |
1.8 |
148.7 |
146.9 |
29.4 |
|
and |
161.1 |
292.9 |
131.8 |
28.7 |
|
DDH103-107 |
2.7 |
145.4 |
142.7 |
29.7 |
|
DDH103-133 |
87.8 |
255.4 |
167.6 |
29.1 |
|
including |
106.1 |
122.6 |
16.6 |
31.6 |
|
including |
179.2 |
252.4 |
73.2 |
30.7 |
|
DDH103-108 |
2.1 |
175.9 |
173.7 |
29.1 |
|
including |
2.1 |
20.4 |
18.3 |
32.3 |
|
including |
90.5 |
166.8 |
76.3 |
30.8 |
|
DDH103-084 |
8.4 |
49.4 |
41.0 |
30.0 |
|
and |
63.4 |
298.4 |
235.0 |
29.0 |
|
including |
118.6 |
136.9 |
18.3 |
31.9 |
|
including |
264.9 |
295.4 |
30.5 |
32.0 |
|
DDH103-110 |
63.1 |
151.5 |
88.4 |
29.5 |
|
including |
63.1 |
93.6 |
30.5 |
32.2 |
|
and |
178.5 |
206.4 |
27.9 |
30.0 |
|
and |
230.9 |
299.5 |
68.7 |
30.6 |
|
including |
273.4 |
299.5 |
26.1 |
32.5 |
“We are extremely pleased with this most recent set of assay results as they continue to confirm the grades and thicknesses we identified in our first set of assay results, as well as the results from our preliminary drilling last year,” stated Francois Laurin, President and CEO of Cap-Ex. “The consistent grades identified in the assay results received to date, along with the consistently substantial thicknesses of iron mineralization encountered continue to support our confidence in the incredible potential of Block 103.”
True widths of the reported intercepts above vary depending on the angle of the individual drill holes and are estimated to be between 70% and 100% of the core interval as reported. All samples were prepared from split BTW-sized half-core sections on-site in Labrador. Split drill core samples have been sent to independent contractor Acme Analytical Laboratories in Vancouver, BC for analyses. Total iron analysis is performed using X-ray fluorescence (XRF) and the magnetic component is determined by Satmagan magnetic analysis. FeO titration analysis permits an estimation of hematite. Standards, blanks, and duplicate assays are included at regular intervals in each sample batch submitted from the field as part of an ongoing Quality Assurance/Quality Control program.
To date, Cap-Ex has four diamond drill rigs operating on the Block 103 property, which have now completed approximately 18,400 metres of a revised 22,000 metre drill program. Due to the assay results and the efficiency of the drill crews, the original budgeted 15,000 metres for this year was significantly increased.
About the Block 103 Project
The Block 103 Iron Ore Project is located in western Labrador and covers roughly 20,000 hectares within the Labrador Trough, approximately 30 km northwest of Schefferville Quebec. Two distinct zones of magnetite mineralization, the Greenbush Zone and the Northwest Zone, were identified on the property as a result of a 6,000 metre drilling campaign conducted in 2011. Mineralization was consistently encountered at shallow depths with thicknesses of up to 260 metres. Laboratory analysis of the samples collected during this 2011 program revealed very consistent grades of mineralization ranging from 28.5% to 34.6 % Total Fe. Sample processing and assaying in 2011 was executed by SGS Canada Labs in Lakefield, ON, using XRF, Satmagan and Davis tube techniques.
Qualified Person.
Edward Lyons, P. Geo., a consultant to the Company and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release. Mr. Lyons has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information disclosed in this news release. Mr. Lyons has verified that the results were accurate from the official assay certificates provided to Cap-Ex.
About CAP-EX Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Project in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company’s website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
On behalf of the Board
“Francois Laurin”
President and CEO
For Investor Relations, please contact:
Konstantine Tsakumis
1-866-683-8030 ext. 232
[email protected]
www.cap-ex.ca
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company’s Block 103 iron ore property, future exploration plans and the expected timing for completion of an NI 43-101 mineral resource estimate and a preliminary economic assessment. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward‑looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
]]>September 6, 2012
Cap-Ex Ventures Ltd (TSX-V: CEV) (Frankfurt: X0V) (OTCQX: CPXVF) (“Cap-Ex” or the “Company”) is pleased to announce the appointment of Ms. Valery Zamuner as Chief Legal Officer and Corporate Secretary and the amalgamation of Schefferville Iron Ore Exploration Corp. (SIOEC).
Ms. Valery Zamuner was General Counsel, Vice President Legal Affairs and Corporate Secretary for Consolidated Thompson Iron Mines Ltd (CLM), and played a central role in managing CLM’s off-take and strategic partnership agreements with Wuhan Iron and Steel, as well as, negotiating and concluding the final sale of CLM to Cliffs Natural Resources Inc. The C$4.9B sale to Cliffs represents the largest acquisition ever of a North American iron ore company. Ms. Zamuner obtained her civil law degree from Laval University, is a member of the Quebec Bar and is in the process of completing an MBA at Concordia University, John Molson School of Business. In addition to her CLM experience, she brings a wealth of experience and expertise in corporate and commercial law in the areas of international and domestic M&A, securities, corporate finance and private investment funds.
François Laurin, President and CEO of Cap-Ex, stated, “I am very pleased to welcome Valery to the Cap-Ex team. Her experience and expertise, specifically her work with Consolidated Thompson, will be invaluable as we work to advance our Block 103 project, in addition to the entire Cap-Ex project portfolio.”
The Cap-Ex Board of Directors has also approved the amalgamation of Schefferville Iron Ore Exploration Corp. (SIOEC), a wholly-owned subsidiary of Cap-Ex. Pursuant to the amalgamation, the shares of SIOEC shall be cancelled without any repayment of capital, no securities shall be issued and no assets shall be distributed by the Company in connection with the amalgamation. The articles and bylaws of the amalgamated corporation shall be the same as the articles and bylaws of the Company, and the name of the amalgamated corporation shall remain Cap-Ex Ventures Ltd.
About CAP-EX Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Project in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company’s website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
On behalf of the Board
“Francois Laurin”
President and CEO
For Investor Relations, please contact:
Konstantine Tsakumis
1-866-683-8030 ext. 232
[email protected]
www.cap-ex.ca
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company’s Block 103 iron ore property, future exploration plans and the expected timing for completion of an NI 43-101 mineral resource estimate and a preliminary economic assessment. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
August 13, 2012
Cap-Ex Ventures Ltd (TSX-V: CEV) (Frankfurt: X0V) (OTCQX: CPXVF) (“Cap-Ex” or the “Company”) is pleased to announce the first set of assay results from its on-going drill program within the Greenbush Zone, located on its wholly-owned Block 103 property in western Labrador. Twelve holes intersected intervals ranging from 64.0 to 216.4 metres of 26.7% to 30.2% total iron all on a single, 2,050 metre long drill line (A – A’). Three of these holes were terminated within mineralized zones, including drill hole DDH103-81 which was drilled to a depth of 354 meters. The program, which began at the end of April, has focused on the Greenbush Zone with the goal of outlining an initial National Instrument (NI) 43-101 mineral resource estimate by the end of 2012.
Location maps and a cross section are posted on the Cap-Ex website at: http://www.cap-ex.ca/projects/block-103 .
Highlights of assay results from the first drill line include:
|
Hole Number |
From (m) |
To (m) |
Interval (m) |
Total Fe (%) |
|
DDH103-046 |
16.8 |
80.8 |
64.0 |
29.4 |
|
DDH103-047 |
20.4 |
188.1 |
167.6 |
29.2 |
|
DDH103-048 |
3.1 |
127.1 |
124.1 |
30.2 |
|
DDH103-049 |
29.7 |
89.9 |
60.2 |
28.4 |
|
and |
120.4 |
294.1 |
173.7 |
30.0 |
|
DDH103-050 |
5.5 |
121.3 |
115.8 |
29.2 |
|
DDH103-051 |
73.2 |
154.8 |
81.7 |
28.0 |
|
and |
180.8 |
322.5 |
141.7 |
30.0 |
|
DDH103-052 |
57.0 |
88.1 |
31.1 |
28.7 |
|
and |
108.8 |
324.0 |
215.2 |
26.7 |
|
DDH103-053 |
2.1 |
111.9 |
109.7 |
29.0 |
|
DDH103-054* |
3.1 |
210.6 |
207.6 |
27.1 |
|
including |
17.4 |
111.9 |
94.5 |
29.1 |
|
DDH103-055* |
32.9 |
164.6 |
131.7 |
28.0 |
|
including |
32.9 |
48.2 |
15.2 |
31.5 |
|
including |
112.6 |
157.9 |
45.3 |
30.6 |
|
DDH103-081* |
23.8 |
188.4 |
164.6 |
29.1 |
|
including |
36.0 |
88.2 |
52.3 |
30.3 |
|
and |
310.3 |
354.5 |
44.2 |
27.6 |
|
DDH103-131 |
5.8 |
222.2 |
216.4 |
28.9 |
|
and |
280.1 |
328.9 |
48.8 |
29.0 |
* hole terminated within mineralization
“We are extremely pleased with this first set of assay results from the first line of our 2012 drill program as they confirm the grades and thicknesses we identified in our preliminary drilling last year,” stated Francois Laurin, President and CEO of Cap-Ex. “We are also continuing to intersect consistent thicknesses of iron mineralization on our third line, located just over one kilometre southeast of line one, which supports our confidence in the incredible potential of Block 103.”
True widths of the reported intercepts above vary depending on the angle of the individual drill holes and are estimated to be between 70% and 100% of the core interval as reported. All samples were prepared from split BTW-sized half-core sections on-site in Labrador. Split drill core samples have been sent to independent contractor Acme Analytical Laboratories in Vancouver, BC for analyses. Total iron analysis is performed using X-ray fluorescence (XRF) and the magnetic component is determined by Satmagan magnetic analysis. FeO titration analysis permits an estimation of hematite. Standards, blanks, and duplicate assays are included at regular intervals in each sample batch submitted from the field as part of an ongoing Quality Assurance/Quality Control program.
To date, Cap-Ex has four diamond drill rigs operating on the Block 103 property, which have now completed approximately 14,000 metres of a minimum 15,000 metres of drilling planned for this year.
The results of the current drill program will be used for an initial National Instrument (NI) 43-101 mineral resource estimate on a portion of the Greenbush Zone located within the Block 103 property, planned to be released by the end of 2012. The Company intends to follow the completion of the NI 43-101 mineral resource estimate with a Preliminary Economic Assessment, planned for release in the first quarter of 2013.
About the Block 103 Project
The Block 103 Iron Ore Project is located in western Labrador and covers roughly 20,000 hectares within the Labrador Trough, approximately 30 km northwest of Schefferville Quebec. Two distinct zones of magnetite mineralization, the Greenbush Zone and the Northwest Zone, were identified on the property as a result of a 6,000 metre drilling campaign conducted in 2011. Mineralization was consistently encountered at shallow depths with thicknesses of up to 260 metres. Laboratory analysis of the samples collected during this 2011 program revealed very consistent grades of mineralization ranging from 28.5% to 34.6 % Total Fe. Sample processing and assaying in 2011 was executed by SGS Canada Labs in Lakefield, ON, using XRF, Satmagan and Davis tube techniques.
Qualified Person
Alex Walus, P. Geo., an employee of the Company and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release.
About CAP-EX Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Project in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company’s website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
On behalf of the Board
“Francois Laurin”
President and CEO
For Investor Relations, please contact:
Konstantine Tsakumis
1-866-683-8030 ext. 232
[email protected]
www.cap-ex.ca
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company’s Block 103 iron ore property, future exploration plans and the expected timing for completion of an NI 43-101 mineral resource estimate and a preliminary economic assessment. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.