Cavan Ventures mulls medical marijuana industry

Mar 25, 2014

CAVAN VENTURES INVESTIGATES AGRICULTURE, MEDICINE AND REAL-ESTATE OPPORTUNITIES

Cavan Ventures Inc. intends to aggressively pursue, source and evaluate new potential projects in the medical marijuana sector, including, but not limited to, the agriculture, medical, technology and real estate sectors.

Peter Swistak, president and chief executive officer of Cavan Ventures, stated, “I believe it is imperative that the management of Cavan Ventures look at all potential opportunities that can create immediate and long-term shareholder value.”

At this time, there are no transactions in place, nor is there any assurance that a new project will be concluded in the future.

In the interim, Cavan Ventures continues to move forward with both its drill-ready projects.

The Buckingham property includes 24 claims located in ranges VIII and IX, Buckingham township, Quebec, and covers an area of 1,682.8 hectares (4,157 acres). Buckingham is 1.7 kilometres north of the historic Walker graphite mine, which produced graphitic ore from 1876 to 1920. In July, 2013, exploration on Buckingham along a 1,000-metre-long linear electromagnetic conductor included grab and channel samples that returned assays from 0.46 per cent to 11 per cent graphite, with 21.70 per cent graphite from a second parallel conductor (see news release July 8, 2013). A helicopter-borne magnetic and time-domain electromagnetic survey confirmed the historic conductor and further resolved the second parallel conductor to a length of 300 metres (see news release dated Sept. 24, 3013). The company plans to drill five holes for a total of 1,200 metres to test the coincident graphite mineralization and airborne conductors.

The Tetepiska-East property includes 54 mining claims covering 2,925.72 hectares. As reported in December, 2013, rock grab samples were collected along a 4.25-metre-wide east-west-oriented graphite-enriched zone assayed at 55.1 per cent Cg. A second rock grab sample collected about 1.20 metres south of the first location returned 48.80 per cent Cg. A third rock grab sample taken three metres north-northeast of the first location assayed at 10.45 per cent Cg. A channel sample 1.9 metres in length and five centimetres wide was collected with a diamond grit saw across the mineralized zone in the western part of the exposed area and returned an average of 52.65 per cent Cg, including 63.50 per cent Cg over one metre. A second channel sample 5.6 metres in length and with similar width was collected along the northern limit of the high-grade zone and returned an average grade of 12.80 per cent Cg (see news release dated Dec. 19, 2013). The diamond drilling program at Tetepiska will include five to six holes totalling up to 1,200 metres, designed to test the graphitic mineralization at depth as well as the lateral extension.

The company continues its efforts in obtaining permission for road access to the properties in order to begin drilling. To date a contract has been successfully negotiated with one of two logging companies for year-round road use, and the company hopes to conclude a similar negotiation with the second company in the near future. Having year-round access greatly enhances the company’s ability to conduct exploration and drill programs on the properties.

http://www.cavanventuresinc.com/news.html