Cap-Ex Ventures Ltd (TSXV:CEV) announced further significant iron intervals at the Greenbush zone. The discoveries were made as part of an ongoing drill program at the property.
As quoted in the press release:
Based on visual inspection of the drill core, mineralized intersections ranging from 92 to 290 metres in thickness were encountered in 12 of the 13 holes completed on its second drill line. This second (B to B’) drill line trends northeast/southwest and is located parallel to and 600 metres south of the first (A to A’) drill line, details of which were presented in a news release dated June 18, 2012. Assay results for the first set of holes are expected in approximately 4 weeks.
Cap-Ex, President and CEO, Francois Laurin, said:
We are extremely pleased with the results from this latest round of drilling as we continue to encounter iron mineralization intervals of 100 to almost 300 metres in thickness. Our stated goal with this drill program is to outline approximately 800 million to 1 billion tonnes with an average grade between 29% and 32% iron and with our consistent thicknesses of mineralization, we are on our way to achieving this goal.