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| February 08, 2005 NEW CANTECH DRILL PROGRAM INTERCEPTS 73.7 GPT AND 38.8 GPT GOLD | |
| See News Release (C-NCV) New Cantech Ventures Inc Mr. Dalton DuPasquier of New Cantech reports NEW CANTECH DRILL PROGRAM INTERCEPTS 73.7 GPT AND 38.8 GPT GOLD New Cantech Ventures Inc. and Minco Mining & Metals Corp. have released final assay results from the drill program concluded in November of 2004 on their joint venture BYC property in Inner Mongolia. Highlights of the intercepts include 73.7 grams per tonne Au (2.23 ounces per ton) over 1.5 metres (five feet) and 38.8 grams per tonne (1.55 ounces per ton) Au over 1.7 metres (5.6 feet). Six diamond drill holes totalling 1,434.5 metres (4,738 feet) were drilled in this first program on the property. Diamond drill hole No. 6 was drilled beneath an open-pit gold occurrence, the upper oxidized portion of which was mined by private Chinese miners. A channel sample at the margins of the pit graded 54 grams (1.63 ounces) of gold per ton over a 2.5-metre (8.25-foot) width. The intersections in hole No. 6 of 73.7 grams (2.23 ounces) gold per ton over 1.5 metres (five feet) and 38.08 grams (1.15 ounces) gold per ton over 1.7 metres (5.6 feet) are believed to be the down-dip extension of this zone. Further drilling will be undertaken to examine this zone. A total of 1,434.5 metres of drilling were completed in six holes with significant fire assay data shown on the following table.
Hole Leng. From To Int. Geochem Fire
No. (m) (m) (m) (m) assay assay
(ppb (g/t
Au) Au)
1 294.5 132.5 285.2 152.7 682 0.633
Incl. 132.5 159.4 26.9 737 0.947
2 240 58.7 71.4 12.7 365 1.12
4 321 241.8 292.4 50.6 522 1.01
Incl. 246.5 274.6 28.1 706 1.54
Plus 317 318.5 1.5 1448 4.92
5 252 61.2 73.5 12.3 488 0.34
Plus 97.1 98.6 1.5 1304 1.36
6 147 70.0 71.7 1.7 146.0 38.08
Plus 97.7 99.2 1.5 54210 73.7
Average of two fire assays. Except for a weak interval in hole 5 (see above chart), all of the results of interest are located in the main pit area. A significant nugget effect is apparent in the data, and this perhaps requires some expert consultation in the future. In addition, core recovery in some of the quartz vein areas was in the low 80-per-cent range and there is some chance that gold values have been lost in the holes. The property is a joint venture with Minco Mining & Metals Corp. whereby New Cantech has the right to earn 51 per cent on expenditures of $2.4-million, or 60 per cent by conducting a prefeasibility report. The BYC project is located in Inner Mongolia 140 kilometres south east of the Ivanhoe Mines Ltd. Turquoise Hill property | |
