New Cantech Ventures Inc.
New Cantech Ventures Inc.: EXPLORATION UPDATES
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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June 8, 2006, Ross Blusson, the CFO of New Cantech Ventures Inc. (TSXV:NCV,
FSE:C7X), is pleased to announce an update of the exploration programs on
two of Cantech’s properties, the Lucky Ship Molybdenum Property and the
Indi Gold-Silver Property.
Lucky Ship Molybdenum Property Update
Cantech is pleased to announce that its 2006 drill program consisting of a
proposed 5,000 meters will commence mid June on Cantech’s Lucky Ship
Molybdenum Property, located 65 kilometers southeast of Huston, British
Columbia. The drill program includes a deep hole of over 1,000 meters
which is to be drilled through the deposit to determine the depth of the
deposit and is also designed to target a potential high-grade deep deposit.
This drill program is also designed to upgrade the recent Lucky Ship
resource estimate and to further expand the tonnage to depth. It is the
goal of Cantech to uncover a resource of at least 100 Million Tonnes. The
resource estimate reported in Cantech’s April 27, 2006 news release.
Estimates of Indicated and Inferred Mineral Resources at cutoff grades of
0.030% and 0.060% Mo (molybdenum) are more than 80 Million Tonnes.
Indi Property Update
Cantech also announces that to date a total of six diamond drill holes have
been completed at its Dauntless Project (a gold/silver target), located
within Cantech’s Indi Property. A second deep-hole capable diamond drill
rig has been added to the drill program.
The current drill program on Cantech’s Dauntless Project commenced in May,
2006. The Dauntless Project is located at the eastern portion of the Indi
Property, which is a joint venture between Cantech (a 45% interest),
Mountain Boy Minerals Ltd. (a 26.95% interest) and Pinnacle Mines Ltd. (a
28.05% interest). Contiguous to the eastern border of the Indi Property is
the Silver Coin Property, which is a joint venture between Mountain Boy (a
49% interest) and Pinnacle (a 51% interest).
The current diamond drill program on the Dauntless Project consists of nine
drill holes totaling an estimated 3,000 meter (9,600 feet) in aggregate,
including one deep hole totaling 1,000 metres (3,060 feet). The drill core
from the six completed diamond drill holes have been split and sent off for
assay. Cantech expects the assay results within the next two or three
weeks.
The six completed diamond drill holes were designed to test the Dauntless
Hill, which is located wholly on the Indi Property, and down-dip of the
Main Breccia zone and the Dan Zone, which zones straddle the boundary
separating the Indi Property and the Silver Coin Property. The Indi
Property is located 24 kilometers north of Stewart, British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS
“Ross Blusson”
NEW CANTECH VENTURES INC.
NEW CANTECH VENTURES INC.
http://www.newcantech.com
E-mail: kenya1@telus.net
(c)DGAP 08.06.2006
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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
email: 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
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