Cap-Ex Intersects 251 Metres of 30% Iron
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/21/12 -- Cap-Ex Ventures Ltd. (TSX VENTURE: CEV)(OTCQX: CPXVF)(FRANKFURT: XOV) ("Cap-Ex" or the "Company") is pleased to announce that additional assay results have been received from the fourth and fifth drill lines, 8200N and 7600N respectively. All six holes intersected iron mineralization with three of the six holes ending in iron mineralization. Intervals ranged up to 251 metres in thickness with total iron content ranging from 27.8% to 34.3%. Both drill lines trend northeast/southwest and are located parallel to and south of the third drill line (Section 8800N). Additional assays are pending.
Cap-Ex is also pleased to announce the completion of its 2012 drill program within the Greenbush Zone, located on its wholly-owned Block 103 Property in western Labrador. A total of 22,300 metres in 72 holes was drilled this year.
Highlights of assay results from the fourth and fifth drill lines include:
---------------------------------------------------------------
From To Length Total Fe
Hole Number (m) (m) (m) (%)
---------------------------------------------------------------
DDH103-064 0.6 251.3 250.7 29.7
---------------------------------------------------------------
including 17.7 42.1 24.4 40.4
---------------------------------------------------------------
including 75.6 123.3 47.7 33.9
---------------------------------------------------------------
DDH103-065 1.5 8.8 7.3 34.3
---------------------------------------------------------------
and 30.2 97.2 67.1 28.7
---------------------------------------------------------------
and 146.0 258.8 112.8 29.4
---------------------------------------------------------------
including 185.6 207.0 21.3 31.6
---------------------------------------------------------------
DDH103-066(i) 2.1 121.9 119.8 31.1
---------------------------------------------------------------
including 54.5 83.6 29.1 32.6
---------------------------------------------------------------
and 158.2 271.0 112.8 29.2
---------------------------------------------------------------
including 185.1 225.3 40.2 30.8
---------------------------------------------------------------
including 252.7 268.8 16.1 33.4
---------------------------------------------------------------
DDH103-088(i) 1.5 115.5 114.0 28.5
---------------------------------------------------------------
and 139.9 158.2 18.3 29.3
---------------------------------------------------------------
and 191.7 216.1 24.4 30.1
---------------------------------------------------------------
and 255.7 335.7 79.9 31.0
---------------------------------------------------------------
DDH103-089(i) 23.8 221.0 197.2 27.8
---------------------------------------------------------------
including 100.0 128.0 28.0 31.5
---------------------------------------------------------------
and 301.1 353.0 51.8 29.9
---------------------------------------------------------------
DDH103-090 1.5 99.7 98.2 28.6
---------------------------------------------------------------
including 27.4 32.9 5.5 36.8
---------------------------------------------------------------
(i) ended in iron mineralization
Location maps and cross sections are posted on the Cap-Ex website at: http://www.cap-ex.ca/projects/block-103
"This year's program was a huge success," says Francois Laurin, President and CEO of Cap-Ex. "We have now intersected mineralization over a strike length of approximately 4,000 metres and a width of up to 2,300 metres, with mineralization open not only to the north and south, but to depth as well. This latest set of assay results, from our two most southern drill lines, have continued to exhibit impressive thickness and grade and I expect the same will be true as we now shift our focus to the north."
Cap-Ex is now evaluating the results from the 2012 drill program in order to plan and budget the next phase of drilling. An initial resource estimate is expected in Q1 2013 with a Preliminary Economic Assessment expected shortly thereafter.
True widths of the reported intercepts above vary depending on the angle of the individual drill holes and are estimated to be between 70% and 100% 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, BC for analyses. Total iron analysis is performed using X-ray fluorescence (XRF) 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 an ongoing Quality Assurance/Quality Control program.
Qualified Person
Edward Lyons, P. Geo., a consultant to the Company and a Qualified Person as defined by NI 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.
About CAP-EX Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Property in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company's website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
On behalf of the Board
Francois Laurin, President and CEO
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company's Block 103 iron ore property, future exploration plans and the expected timing for completion of an NI 43-101 mineral resource estimate and a preliminary economic assessment. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER 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.
Contacts:
Cap-Ex Ventures Ltd.
Konstantine Tsakumis
Investor Relations
1-866-683-8030 ext. 232
info@cap-ex.ca
www.cap-ex.ca