New Cantech Ventures Inc.
New Cantech Ventures Inc. Announces Resumption of Drilling to Extend Hole LS06-68 to 1100 metres
Corporate News transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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New Cantech Ventures Inc. Announces Resumption of Drilling to Extend Hole
LS06-68 to 1100 metres
November 30, 2006
As previously announced, New Cantech Ventures Inc. (‘Cantech’) (TSXV:NCV,
FSE:C7X), completed during the 2006 drill program, 4,484 metres of NQ
diamond drilling in seventeen drill holes (LS06-52 to 68) on its Lucky Ship
porphyry molybdenum property located 85 kilometres by road south of
Houston, B.C. Cantech released the assay results from all seventeen holes
in four previous press releases.
As stated in these previous news releases deep hole LS06-68 was stopped in
mid September when highly fractured rock was encountered at 267.3 metres
depth. Cantech subsequently hired Cyr Drilling of West Saint Paul, Manitoba
to complete this hole. A drill has now been mobilized onto the property and
drilling has commenced. Delays in resuming this hole were related to heavy
snowfall in the area which required plowing of over 30 kilometres of
logging road to get the drill on site.
Hole LS06-68 will be continued to a target depth of 1100 metres. This hole
is being drilled at azimuth 325 degrees and inclination -87 degrees and is
targeting a zone of molybdenum mineralization that was encountered in hole
LS06-61 and two previous Amax drill holes, LS65-12 and LS65-16 between 500
to 760 metres below surface. There is no drill hole information below 760
metres from surface in the area of these intersections and it is currently
not known how much deeper the molybdenum mineralization extends to. If hole
LS06-68 goes to its target depth it will test the deposit to a depth of
approximately 1100 metres below surface.
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 now has and has released all the
assay results from the Phase 3 Drill Program. This information has been
plotted onto drill sections and these sections are currently being used by
Dr. N.C. Carter to calculate a revised resource estimate for the Lucky Ship
deposit.
Qualified Person
Dr. Donald G. MacIntyre, P.Eng., a qualified person under National
Instrument 43-101, has been supervising Cantech’s 2006 Phase 3 Drill
Program and has reviewed and approved the technical disclosure in this news
release.
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.
201 – 14881 Marine Drive
White Rock, BC V4B 1C2
Tel: 604-541-7288
Fax: 604-541-7286
email: kenya1@telus.net
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.
Kontakt Deutschland
Value Relations GmbH
Tel. 069 959246-13
Fax: 069 959246-20
C7X@ir-services.de
(c)DGAP 30.11.2006
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