Ashburton Announces Drilling Results and Files NI43-101 Technical Report on Its Buckingham Graphite Property, Quebec
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ASHBURTON ANNOUNCES DRILLING RESULTS AND FILES NI43-101 TECHNICAL REPORT ON ITS BUCKINGHAM GRAPHITE PROPERTY, QUEBEC
April 18th, 2017, VANCOUVER, B.C. – CAVAN VENTURES INC. (V:CVN.H) (“Cavan” or the "Company”) is pleased to announce its JV Partner Ashburton Ventures Inc. (ABR-TSX-V) has received its final assays from the drilling programs carried out in the summer and fall of 2016. Four holes (BH16-11 to BH16-14) totaling 811 m further tested the two linear NNE and ENE conductive zones. A total of 211 samples were analyzed for Cg and included the QA/QC samples as well as a remaining portion of BH16-
10. Best intersections included 10 m @ 3.98 wt. % Cg in hole BH16-10 and 11 m @ 3.54 wt. % Cg in hole BH16-14. The DDH coordinates and assay results are presented in Table 1 and can be viewed through the map provided below.
Table 1. Best graphite assays results for DDH BH16-10 to BH16-14.
| Hole ID | Easting | Northing* | Azimuth (°) | Plunge (°) | Depth (m) | From (m) | To (m) | Length** (m) | Cg (wt %) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BH16-10 | 460554 | 5054650 | 315 | 45 | 199.0 | 48 | 87 | 39 | 2.66 | ||||
| including | 80 | 87 | 7 | 4.62 | |||||||||
| 104 | 114 | 10 | 3.98 | ||||||||||
| BH16-11 | 460821 | 5054934 | 318 | 45 | 223.4 | 209 | 214 | 5 | 1.58 | ||||
| BH16-12 | 460284 | 5054968 | 138 | 45 | 181.9 | 4.50 | 11.00 | 6.50 | 3.55 | ||||
| BH16-13 | 460434 | 5055097 | 105 | 45 | 217.9 | 196 | 204 | 8 | 1.67 | ||||
| BH16-14 | 460850 | 5055196 | 15 | 45 | 188.2 | 111 | 122 | 11 | 3.54 |
- UTM coord: NAD83, Zone 18N
** Apparent thickness
Split core samples were transported to the SGS Laboratory in Lakefield, Ontario for Cg assaying. Samples were weighed, dried, crushed to 75% passing 2 mm, split to 250 g and pulverized to 85% passing 75 microns. C (graphitic) was analyzed after roasting, HCl leaching combustion and IR (LECO). Duplicates, standards and blanks were inserted at regular intervals for QA/QC purposes.
Ashburton Ventures Inc. is now filing an NI43-101 compliant report on SEDAR, as well as on ABR’s website at: http://www.ashburtonventures.com/abr-tech-report.pdf.
Highlights of the Buckingham Graphite Project’s NI43-101 Report are summarized below:
- To date nineteen (19) holes were drilled in late 2015-2016, totalling 4,782 meters and 1,695 core samples. The majority of the drill holes had spacing’s of 100 meters distributed along about half length of the 1.5 km linear NNE conductor with nearly all returning mineralization hosted in marble;
- These mineralized intercepts were mainly found in marble and ranged from 1.4% Cg over 5 m (BH16-05) to 4.07% Cg over 112 m (BH15-03). Long intercepts contained some higher grade intersections including 11.20% Cg over 7 m (BH15-03) and 17.90 % Cg over 7 m (BH16-03);
- Within the 43-101 is a preliminary sketch for a possible geometry of the mineralization consisted of two mineralized marble planes MBR-1 and MBR-2 and a smaller garnet gneiss mineralized plane;
- Next steps should extend the exploration on the NNE conductor over the next hundreds of meters to the NE, followed by metallurgical testing. As detailed in the technical report, a definition drilling program is recommended to provide a first estimate of the mineral resources.
“We are extremely pleased with the conclusions set out in the NI43-101 report and the conceptual model for the mineralization which will guide our exploration team for the next steps of the project. Further exploration works on the 1.5 km long conductor should initiate a definition drilling program for resource calculation purposes.” stated Peter Swistak, CEO & President of Cavan Ventures.
About the Buckingham Graphite Project
The Buckingham graphite property is located in the Buckingham Township of southwestern Quebec and consists of 18 claims covering 1,082 hectares. The property is readily accessible by roads from the village of Buckingham, with Highway 50 connecting Montreal to Ottawa approximately 10 km to the south. The property itself is crisscrossed by several logging roads facilitating the access to most of the mineralized areas.
Several strong and continuous conductive anomalies were identified on the property, with two linear graphitic zones that have started to be drill tested in late 2015: a 1.5 km long NNE conductor with several mineralized intercepts, including of 4.07 wt. Cg% over 112 m (see PR dated February 11, 2016), and a 300 m long ENE conductor with 5.18% wt. Cg% over 72 m (see PR dated October 18, 2016).
The technical content of this news release was approved by Isabelle Robillard, MSc, P.Geo., a qualified person as defined by National Instrument 43-101.
Cavan Venture’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. For more information visit the website at www.cavanventuresinc.com.
ON BEHALF OF THE BOARD
Peter P. Swistak, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995 Toll Free: 1-888-945-4770
Forward-Looking Statement:
Some statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Cavan Ventures Inc. Actual results may differ materially from those currently anticipated in such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.