New Cantech Ventures Inc.
New Cantech Ventures Inc. announces further results of its Lucky Ship Property
Corporate news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
——————————————————————————
New Cantech Ventures Inc. Announces Results for the Next 5 holes of the
2006 Phase 3 Drilling Program on its Lucky Ship Molybdenum Property
Drill Hole LS06-65 Returns 254 Metres Grading 0.096% Mo
12. Oktober 2006, Stewart, BC, Kanada – New Cantech Ventures Inc. (TSXV:
NCV, FSE: C7X),is pleased to announce that it has completed seventeen drill
holes (LS06-52 to 68) totaling 4,484 metres on its Lucky Ship porphyry
molybdenum property located 85 kilometres by road south of Houston, B.C.
Cantech previously released the assay results from the first nine holes
(LS06-52 to 60) in two separate press releases and is now releasing assay
results for the next five drill holes (LS06-61 to 65). To date assay
results have been received for 3,947 metres of NQ core from 14 drill holes.
Results for the remaining three holes will be reported when they are
received. The following tables summarize significant drill hole
intersections for previously released drill holes (LS06-52 to 60) and the 5
holes (LS06-61 to 65) that are part of this release.
Previously Released
Drill hole information Significant drill hole intersections
Hole Number Length Start End Length (m.) @ Grade %Mo
(m) (m) (m)
LS06-52 270.1 67 75 8.0m @ 0.208
LS06-53 190.5 3 153 150.0m @ 0.069
Inklusive 27 87 60.0m @ 0.108
LS06-54 303.6 6 266 260.0m @ 0.084
Inklusive 6 42 36.0m @ 0.163
LS06-55 307.54 162 246 84.0m @ 0.074
LS06-56 358.14 213 353 140.0m @ 0.066
Inklusive 213 249 36.0m @ 0.136
LS06-57 312.42 173 285 112.0m @ 0.065
Inklusive 179 227 48.0m @ 0.108
LS06-58 300.23 15 179 164.0m @ 0.064
Inklusive 103 165 62.0m @ 0.107
Inklusive 147 161 14.0m @ 0.206
LS06-59 258.17 9 97 88.0m @ 0.068
LS06-60 400.81 45 400.81 355.8m @ 0.075
Inklusive 113 345 232.0m @ 0.095
Inklusive 153 173 20.0m @ 0.203
This Release
Drill hole information Significant drill hole intersections
Hole Number Length Start End Length (m.) @ Grade %Mo
(m) (m) (m)
LS06-61 519.38 41 121 80.0 @ 0.072
Including 75 89 14.0 @ 0.122
Including 257 519 262.0 @ 0.061
Including 307 333 26.0 @ 0.102
LS06-62 114.00 19 101 82.0 @ 0.074
Including 85 89 4.0 @ 0.226
LS06-63 148.13 39 79 40.0 @ 0.075
LS06-64 126.49 65 119 54.0 @ 0.088
Including 77 85 8.0 @ 0.164
LS06-65 337.72 17 337.7 320.7 @ 0.082
Including 17 271 254.0 @ 0.096
Including 25 39 14.0 @ 0.206
Including 195 201 6.0 @ 0.230
Inklusive 267 271 4.0 @ 0.550
The results for drill holes LS06-52 to 60 and the status of the deep hole
have been described in a previous news release and are not included here.
The last hole reported in the previous press release was LS06-60. Hole
LS06-61 was collared 50 metres east of this hole on line 16+00E. This hole
intersected the molybdenum zone at 41 metres, entered the high silica zone
surrounding the granite porphyry intrusion at 121 metres then re-entered
the molybdenum zone on the north side of the stock at 257 metres. As was
observed in previous drill holes, the best grades occur near the granite
porphyry contact. Holes 62, 63, and 64 were collared on lines 16+50E,
17+00E and 17+50E respectively. These holes are located south of the
granite porphyry intrusion and were designed to intersect the southern part
of the circular molybdenum zone that surrounds the granite porphyry
intrusion. These holes were terminated when the zone of intense quartz
veining (“high silica zone”) that occurs at the contact of the granite
porphyry intrusion was intersected. Hole 65 was collared on line 18+00E and
intersected the molybdenum zone as it wraps around the eastern contact of
the granite porphyry intrusion. This hole intersected molybdenum
mineralized from 17 metres to the end of the hole at 337.7 metres with the
best grades in the interval 17 to 271 metres which averaged 0.096% Mo. The
bottom of hole 65 is 362 metres below surface and the last 40 metres of
this hole fall below the 800 metre elevation cutoff for the previously
announced resource calculations done by Dr. N.C. Carter.
Status of Deep Hole
As previously stated, except for the completion of the deep hole, Cantech
has completed Phase 3 drilling program on the Lucky Ship Property. As was
announced previously the last hole planned for the summer 2006 drill
program was intended to be a deep hole (1100 metres) that would test an
area on the northwest side of the deposit that could contain an additional
Mo resource at depth. Unfortunately, hole LS06-67 was abandoned at just
over 50 metres depth due to highly fractured rock in a fault zone and a
second attempt, hole LS06-68, was also abandoned at 267.31 metres for
similar reasons. Cantech has hired Cyr Drilling of West Saint Paul,
Manitoba to complete this deep hole. Cantech understands that Cyr Drilling
has drilling equipment which is more appropriate 3 to drill both a deep
hole and through highly fractured rock. Cantech expects drilling on this
deep hole to resume on or about the end of October, 2006.
Updated Resource Calculation
The objective of Cantech’s Phase 3 Drill Program was to better define the
grade and width of the Lucky Ship deposit at depths greater than 100 metres
below surface particularly along the north side of the deposit and to
conduct exploration drilling in the eastern part of the deposit, which
recent computer modeling shows to be open. Previous resource calculations
by Dr. N.C. Carter placed that part of the deposit below 100 metres from
surface in the Inferred category due to lack of drill hole information. The
recently completed drill program has better defined the grade and extent of
the deposit at depth and this information will be used to prepare a revised
resource calculation. Cantech will be preparing an updated resource
calculation following the receipt of the assay results from the last three
holes of the Phase 3 Drill Program.
Kontakt Deutschland NEW CANTECH VENTURES INC.
Value Relations GmbH http://www.newcantech.com
E-mail: C7X@ir-services.de E-mail: kenya1@telus.net
Tel.: 069/959246-13
Im Namen des Vorstands:
Dalton DuPasquier
NEW CANTECH VENTURES INC.
Value Relations GmbH
E-Mail: C7X@ir-services.de
Tel.: 069/959246-13
(c)DGAP 12.10.2006
—————————————————————————
Language: English
Issuer: New Cantech Ventures Inc.
Suite 201 – 14881 Marine Drive
V4B 1C2 White Rock, B.C. Kanada
Phone: +1 604 541 7288
Fax: +1 604 541 7286
E-mail: kenya1@telus.net
WWW: www.newcantech.com
ISIN: CA6431661017
WKN: 121407
Indices:
Listed: Freiverkehr in München; Open Market in Frankfurt
End of News DGAP News-Service
—————————————————————————
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found