New Cantech Ventures Inc.
DRILLING UPDATE – DAUNTLESS PROJECT – INDI PROPERTY – STEWART, BRITISH COLUMBIA
Corporate news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
——————————————————————————
DRILLING UPDATE – DAUNTLESS PROJECT – INDI PROPERTY – STEWART, BRITISH
COLUMBIA
Final Drilling Results on Cantech’s Indi Property with DDH-2006-124
Intersecting 9.14 m of 2.64 g/t Au and 424 g/t Ag
Stewart, BC – New Cantech Ventures Inc. (‘Cantech’) (TSXV:NCV, FSE:C7X), is
pleased to announce that is has received assay results from the last eight
drill holes from its 2006 drill program at the Dauntless Gold Project on
its Indi Property. The drilling intersected high gold values in the Main
Breccia zone on the Indi Property with drill hole 124 recovering 2.64 g/t
Au and 424 g/t Ag over 9.14 metres.
The Indi Property is a gold-silver-base metal property located about 24
kilometers north of Stewart, British Columbia in the Skeena Mining Division
and contiguous to the Kansas and Silver Coin Properties held by Pinnacle
Mines Ltd., Mountain Boy Minerals Ltd. and Tenajon Resources Corp. The
Silver Coin project is a gold-silver-base metal with a total inferred
resource estimated at 500,000 ounces of gold and 2.11 million ounces of
silver prior to the 2006 diamond drill program.
Drilling was along the faulted off extension of the Main Breccia zone
located along the west side of Dan Hill on Cantech’s Indi 9 claim. Work
has indicated that the faulted off extension has been traced for
approximately 200 meters in this area on the Indi 9 claim. Work has
indicated that the Main Breccia zone is open along strike to the south.
Intersections in DDH – 2006 – 117 to 124 are shown in the table below.
Assay results are incomplete for DDH-121 with missing assays in the middle
of the mineralized zone. No significant mineralization was encountered in
DDH 123.
DDH From
(m) To
(m) Width
(m) Au
g/t Ag
g/t Cu
% Pb
% Zn
% CLAIM TESTED
2006-117 5.79 28.66 22.82 1.26 6.66 0.03 0.13 0.91 Indi 9
and 63.72 66.77 3.05 1.75 5.0 0.008 0.07 0.48 Indi 9
and 135.37 136.89 1.52 1.08 6.8 0.019 0.13 0.24 Indi 9
and 141.46 142.99 1.52 1.01 3.5 0.003 0.02 0.05 Indi 9
and 174.09 184.15 10.03 1.41 5.07 0.009 0.06 0.70 Indi 9
2006-118 5.79 36.28 30.4 1.34 6.69 0.02 0.07 0.59 Indi 9
2006-119 7.32 8.84 1.52 1.0 6.8 0.03 0.04 2.22 Indi 9
and 10.37 11.89 1.52 1.66 6.6 0.003 0.04 0.08 Indi 9
and 19.51 21.04 1.53 1.71 12.8 0.032 0.98 1.33 Indi 9
2006-120 5.79 7.77 1.98 1.21 13.6 0.053 0.08 3.07 Indi 9
and 94.21 95.73 1.52 1.9 2.1 <0.001 0.02 0.11 Indi 9
and 104.88 106.40 1.52 1.05 2.4 <0.001 0.01 0.01 Indi 9
and 132.32 133.84 1.52 1.28 3.4 0.004 0.06 0.09 Indi 9
and 135.37 136.89 1.52 1.04 4.5 0.012 0.09 0.22 Indi 9
2006-121 4.27 24.09 19.76 1.62 8.48 0.02 0.25 1.09 Indi 9
and 25.61 33.23 7.61 2.31 14.48 0.05 0.57 1.02 Indi 9
2006-122 97.26 98.32 1.07 1.81 1.5 0.003 0.01 0.03 Indi 9
and 109.45 112.50 3.05 2.5 2.0 0.003 0.04 0.11 Indi 9
and 115.55 117.07 1.52 2.49 26.6 0.002 0.01 0.02 Indi 9
2006-124 39.33 48.48 9.14 2.64 424.0 0.009 0.09 0.40 Indi 9
including 40.24 41.77 1.52 11.97 24.53 0.013 0.13 0.43 Indi 9
and 115.55 118.60 3.05 1.12 4.5 0.006 0.04 0.07 Indi 9
and 188.72 197.87 9.15 1.37 2.45 0.01 0.048 0.25 Indi 9
The Indi Joint Venture Property
The Indi Property is a Joint Venture Property owned 45% by Cantech, 28.05%
by Pinnacle and 26.95% owned by Mountain Boy.
Extent of Deposit on Cantech’s Indi Property
Accordingly, the recent diamond drilling confirms that the mineral deposit
located on the Silver Coin Property and the Kansas Property, dips to the
west and onto Cantech’s Indi Property. Further drilling is required to
determine the extent of the deposit on Cantech’s Indi Property.
Operatorship
During the 2006 field season, Pinnacle has been the operator of the Indi
Property.
Earlier Resource Calculation on the Contiguous Silver Coin Property
On March 15, 2006, Pinnacle Mines Ltd., Mountain Boy Minerals Ltd. and
Tenajon Resources Corp. announced a resource estimate on the contiguous
Silver Coin Project. The resource estimate was prepared by Minefill
Services, Inc. of Vancouver, British Columbia (see the announcement as
filed in SEDAR.com). That resource calculation was not based on any
diamond drilling conducted in 2006 and was not based on any drilling on
Cantech’s Indi Property.
The Technical Report dated April 27, 2006 prepared by Minefill Services
Inc. disclosed a calculated Net Inferred Resource of 499,775 contained
ounces of gold on the Silver Coin Property (not including any of the
results of Cantech’s Indi Property) and 2.11 million contained ounces of
silver on the Silver Coin Property (see page 51 of the Minefill Technical
Report filed in SEDAR.com). The mineral resource estimate consisted of
11.3 million tonnes grading 1.60 g/t Au and 6.64 g/t Ag, 0.056% Cu, 0.19%
Pb, and 0.413% Zn and has was calculated in accordance with CIMM (2000)
standards, at a zero cutoff.
Proposed Resource Calculation on the Indi Property
Cantech’s main objective of the 2006 diamond drill program was to provide
information for the basis of a resource calculation on the Dauntless Gold
Project located on Cantech’s Indi Property. On the other hand, Pinnacle,
Mountain Boy and Tenajon are looking to expand the mineral resource on
their Silver Coin Property and the Kansas Claim. Following the receipt by
Pinnacle of the assay results from the final drill holes on the Silver Coin
Property, Pinnacle, Mountain Boy, Tenajon and Cantech will be causing the
production of a new resource calculation which will not only encompass the
Silver Coin Property, but also the Indi Gold Property.
E. Kruchkowski, P. Geo., a qualified person under National Instrument
43-101 and a director of Mountain Boy, is in charge of the exploration
programs on behalf of Cantech, Pinnacle and Mountain Boy. Drill core and
trench samples are assayed by Assayers Canada of Vancouver, BC.
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'
NEW CANTECH VENTURES INC.
Kontakt Deutschland
Value Relations GmbH
Tel. 069 959246-13
Sternstraße 15
60318 Frankfurt
C7X@ir-services.de
(c)DGAP 17.11.2006
---------------------------------------------------------------------------
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found