Mr. Francois Laurin reports
CAP-EX RELEASES FINAL ASSAY RESULTS PRIOR TO RESOURCE ESTIMATE
Cap-Ex Ventures Ltd. has released final set of assay results from the 2012 drill program on the block 103 property located in western Labrador. All results will be included in the upcoming resource estimate, which is scheduled to be released within the next few weeks.
All remaining holes intersected significant iron mineralization. Intervals ranged up to 256.8 metres in thickness with total iron content ranging from 27.0 per cent to 31.3 per cent. The 2012 drill program covered an area of just over six square kilometres, which is 50 per cent more than originally planned.
HIGHLIGHTS OF ASSAY RESULTS
Hole From To Length Total Fe
No. (m) (m) (m) (%)
DDH103-063 42.1 141.4 99.3 28.80
and 206.7 319.4 112.7 30.13
DDH103-067 1.5 234.9 233.4 30.58
including 36.3 51.5 15.2 36.14
DDH103-091 4.8 231.3 226.5 29.91
including 45.4 66.8 21.4 35.85
DDH103-092(i) 2.0 204.2 202.2 29.16
including 51.9 79.0 27.1 34.16
DDH103-094 2.0 258.8 256.8 28.82
DDH103-095(i) 1.8 31.8 30.0 29.40
and 73.1 143.0 69.9 27.23
and 160.4 303.3 142.9 29.73
and 344.8 395.9 51.1 30.50
DDH103-096 24.1 42.4 18.3 28.07
and 69.8 211.2 141.4 29.11
and 258.4 269.2 10.8 31.11
and 279.6 341.3 61.7 29.58
and 359.5 382.0 22.5 31.12
DDH103-097(i) 1.1 94.2 93.1 27.78
and 109.4 160.5 51.1 29.07
and 188.0 251.2 63.2 28.60
and 294.7 305.0 10.3 31.67
and 347.2 417.3 70.1 30.96
DDH103-098 6.1 85.0 78.9 27.81
and 137.8 188.7 50.9 29.95
and 201.5 307.5 106.0 27.05
and 389.3 402.3 13.0 31.29
DDH103-118 57.6 307.5 249.9 29.14
DDH103-119(i) 9.0 182.2 173.2 29.09
including 24.1 39.3 15.2 33.71
DDH103-141(i) 5.4 100.3 94.9 29.33
and 194.8 291.3 96.5 28.89
and 325.8 368.5 42.7 26.99
DDH103-142(i) 20.3 94.2 73.9 29.49
and 121.6 138.3 16.7 28.70
and 147.0 152.1 5.1 35.46
and 200.9 224.5 23.6 30.81
and 237.4 316.7 79.3 30.62
DDH103-143 60.6 190.2 129.6 28.49
and 250.5 392.6 142.1 27.82
DDH103-144(i) 5.0 173.0 168.0 29.60
and 206.0 221.0 15.0 31.15
and 316.0 370.0 54.0 29.50
and 456.2 487.0 30.8 28.60
DDH103-145 12.4 134.0 121.6 29.53
and 149.0 177.0 28.0 29.99
and 190.1 224.4 34.3 27.74
and 242.8 350.0 107.2 31.21
DDH103-146 1.5 42.7 41.2 30.01
and 95.0 146.0 51.0 27.23
and 185.0 278.7 93.7 28.19
including 233.0 239.0 6.0 30.19
(i) ended in iron mineralization
Location maps and cross-sections are posted on the Cap-Ex website.
"We are thrilled with the results from our 2012 drill program," says Francois Laurin, president and chief executive officer of Cap-Ex. "Not only did we intersect continuous grade and thickness at block 103, but we covered a significantly larger area than anticipated. We are excited for the release of our maiden resource estimate, which is expected to occur within the next few weeks."
True widths of the reported intercepts above vary depending on the angle of the individual drill holes and are estimated to be between 65 per cent and 100 per cent 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, B.C., for analyses. Total iron analysis is performed using X-ray fluorescence 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 a quality assurance/quality control program.
Qualified person
Edward Lyons, PGeo, a consultant to the company and a qualified person as defined by National Instrument 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.
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