Cavan Ventures samples up to 21.7% C at Buckingham

Jun 18, 2013

Mr. Peter Swistak reports

CAVAN VENTURES INC. RECEIVES RESULTS FROM ITS FOUR GRAPHITE PROJECTS IN QUEBEC

Cavan Ventures Inc. has completed a first phase ground program on its 100-per-cent-owned Cawood, Sainte-Marie, Big Flake and Buckingham graphite properties, located in southwest part of Quebec.

On May 13, 2013, the company announced that a prospecting and exploration work program was started on four of the five prospective graphite projects, located in the Buckingham area and Gatineau Valley area, Quebec. At the end of May, 2013, the fieldwork was completed and the assay results are now received and compiled.

Buckingham property

Several days were spent on the Buckingham property which consists of three colonial lots located in Range IX, Buckingham township, and covering an area of 900 hectares (2,224 acres). The property is adjacent to the old Walker mine which is located in the south half of lot 20.

In Range VIII historic reports mention that the graphite deposit was worked between the 1860s to 1910. Disseminated graphite flakes, up to 25 per cent were mined. At the time Buckingham was part of the Walker mine. In the 1980s an airborne electromagnetic survey was conducted by the Quebec government. Two linear conductors were picked up on the Buckingham property.

Those conductors are at 200-metre spacing and measure 200 m and 1,000 m in length respectively. With the help of a Bipmat, the prospecting team found the main linear input conductor on surface and followed it over several 1,000 m. A total of 14 grab and channel samples were taken on this long conductor. Carbon values of grab samples range from 0.46 per cent C to 11 per cent C. This last value was found in a four m wide banded paragneiss. Numerous angular blocks were discovered, scattered along the electromagnetic conductor.

A second parallel conductor was found at about 400 m north of the major one. Sample 264186 corresponding to a large schistozed paragneiss band with large flakes of graphite, returned 21.70 per cent organic C. About 250 m northwestern, a third short conductor coinciding with a two m wide outcrop returned a value of 8.67 per cent C. Finally, a second long input conductor was verified at 500 m north of conductor No. 3. Four grab samples were taken at regular intervals along this axis. They returned values lower than 1 per cent C (0.46 per cent to 0.96 per cent C).

Prospecting was also conducted along trails and gravel roads in the east part of the property, at about seven km of the main northeast-southwest-oriented conductor. A total of 12 grab and channel samples were taken in that area. Results range from 0.5 per cent to 9.31 per cent C.

Sainte Marie property

The Sainte Marie property consists of 11 map-staked claims covering an area of 605 hectares (1,495 acres). Several graphite occurrences have been reported on the property and there is also potential for REE (rare earth elements). Six graphite occurrences were studied during a regional mapping program. Most have returned graphite values higher than 3 per cent graphite in quartz-feldspar gneisses. One occurrence returned 25 per cent graphite over one metre in a shear zone. During the field trip, the prospecting team took nine samples on outcrops showing graphite flakes in white coarse-grained marble. The flakes are well disseminated and measure between one and 10 millimetres. They are found in banded layers up to 50 m in width. Organic carbon values of the grab samples obtained range from 0.25 per cent to 5.04 per cent.

The Big Flake property

The Big Flake property is located adjacent to the Timcal’s (Stratmin) producing flake graphite mine of Lac des Iles, near Mont-Laurier, Que. It covers a total area of 2,400 hectares (5,930 acres). The project covers historic drill holes (1968) with reports of graphite intersection. Those holes are located approximately eight km east-southeast from Timcal’s mine site. Only three outcrops were sampled. Most of the bedrock is covered by the vegetation and only diamond drilling through geophysical anomalies can provide good assay results. The best values from the grab samples obtained range from 0.20 per cent C to 2.04 per cent C in schistozed paragneiss. This property may also present an economic potential for REE (rare earth elements).

Ashbury property

The Ashbury project was not visited, primarily due to poor weather conditions. This property covers an area of 900 hectares (2,224 acres) and hosts two historic drill holes bored by the Quebec Department of Natural Resources (1965). In the first hole, graphite was noted from 18.29 m to 30.48 m in a biotite paragneiss. A second intersection was noted from 30.48 m to 54.86 m. The second hole intersected graphitic mineralization over 1.52 m from 62.48 m to 64.00 m. The two holes are approximately four km apart.

Samples from the prospecting and exploration program were assayed by ALS Minerals in Val d’Or, Que., and Vancouver, B.C., by the Leco method (organic carbon, C-IR06) and the whole rock package (ME-ICP61a), including ICP-AES (Lithium metaborate fusion) and ICP-MS ( lithium borate fusion and Aqua regia). Grab samples are selective by nature and are unlikely to represent average values of the graphite mineralization.

“Results of this preliminary prospecting campaign are very encouraging and our geological team highly recommends an exploration program on the Buckingham property and more prospecting on Big Flake and Ashbury. We look forward to an exciting second half of 2013!” states Peter Swistak, president of Cavan.

The technical contents of this release were approved by Dr. Christian Derosier, PGeo, a qualified person as defined by National Instrument 43-101.

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