Cap-Ex Extends Zone of Mineralization 450 Metres to the North
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/28/12 -- Cap-Ex Ventures Ltd. (TSX VENTURE: CEV)(FRANKFURT: XOV)(OTCQX: CPXVF) ("Cap-Ex" or the "Company") is pleased to announce that assay results have been received from the sixth and most northern drill line (Section 10480N) on the Block 103 Property located in Western Labrador. All eight holes intersected iron mineralization with six of the eight holes ending in iron mineralization. Intervals ranged up to 201 metres in thickness with total iron content ranging from 27.3% to 34.7%. This sixth drill line trends northeast/southwest and is located parallel to and approximately 450 metres north of the first drill line (Section 10000N). Additional assays are pending.
Highlights of assay results from the sixth drill line include:
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Hole From To Length Total Fe
Number (m) (m) (m) (%)
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DDH103-111 24.1 30.2 6.1 32.2
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and 82.0 264.9 182.9 29.1
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including 222.2 264.9 42.7 31.1
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DDH103-113(i) 18.0 24.1 6.1 34.7
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and 78.9 146.0 67.1 31.6
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including 97.2 127.7 30.5 32.4
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and 170.4 191.7 21.3 32.9
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and 280.1 353.3 73.2 28.5
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including 280.1 310.6 30.5 30.6
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DDH103-114(i) 1.5 48.5 46.9 31.3
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and 182.6 341.1 158.5 28.5
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including 246.6 277.1 30.5 32.4
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DDH103-115(i) 2.7 84.2 81.4 29.1
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including 2.7 37.7 34.9 30.6
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and 139.9 317.6 177.7 28.9
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DDH103-137(i) 11.9 213.1 201.2 29.2
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including 27.1 57.0 29.9 33.1
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and 286.2 325.8 39.6 30.3
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DDH103-138(i) 5.5 75.6 70.1 29.0
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and 206.7 319.4 112.8 28.6
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and 334.7 343.8 9.1 28.4
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DDH103-139(i) 5.8 14.9 9.2 33.1
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and 82.0 119.5 37.6 29.4
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including 103.3 118.6 15.2 31.8
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and 170.4 342.3 171.9 28.2
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DDH103-140 14.9 72.3 57.4 30.9
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and 106.4 194.0 87.6 27.3
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and 212.1 319.7 107.6 28.4
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including 271.0 307.6 36.6 30.4
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and 338.0 365.5 27.5 28.4
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and 395.9 420.1 24.2 27.8
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(i) ended in iron mineralization
Location maps and cross sections are posted on the Cap-Ex website at: www.cap-ex.ca/projects/block-103.
"It's great to see Block 103 continue to develop with such positive results," says Francois Laurin, President and CEO of Cap-Ex. "We have now shifted our focus to the north and not only have the results continued to demonstrate consistent thickness and grade, we continue to have multiple holes ending in mineralization."
Cap-Ex is 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 75% 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