Cap-Ex Ventures Ltd.

Cap-Ex Ventures Ltd.

June 18, 2012 06:00 ET

Cap-Ex Intersects Significant Iron Mineralization on Block 103

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 18, 2012) - Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:X0V) ("Cap-Ex" or the "Company") is pleased to announce that it has intersected iron mineralization in each of the first 11 holes completed within the Greenbush Zone on its wholly owned Block 103 property in western Labrador. These first 11 holes were all drilled on a single, 2,050 metre long drill line trending northeast/southwest, oriented perpendicular to the Greenbush Zone. Mineralized intersections for these holes range from 96 to 317 metres.

Notably, drill hole DDH103-81 intersected 314 metres of mineralization and was terminated at a depth of 354 metres while still within the mineralized zone. Drill hole DDH103-54 was also terminated within the mineralized zone, after intersecting 187 metres of iron mineralization. These results are similar to those from DDH103-44, which was completed along the same drill line during the 2011 drilling campaign. DDH103-44 intersected 259 metres of mineralization grading 28.3% total iron and has mineralization potential at depth (see table below for addition details). Deeper drilling is planned near this drill line in order to confirm interpreted mineralization at depth.

"We are excited to have our 2012 drilling campaign underway and extremely encouraged by the consistent mineralization encountered in these initial holes," stated Francois Laurin, President and CEO of Cap-Ex. "The drilling is confirming our geologic interpretation of last year's limited program and clearly demonstrating the potential of Block 103."

The mineralized intersections are outlined in the table below:

End of Hole
Mineralized Intersection
DDH103-55 26 191 191 165
DDH103-49 2 290 331 288
DDH103-51 6 316 351 310
DDH103-131 20 337 353 317
DDH103-52 57 307 333 250
DDH103-53 2 98 171 96
DDH103-81 40 354 354 314
DDH103-48 3 105 157 102
DDH103-50 3 121 170 118
DDH103-47 3 161 240 158
DDH103-54 24 211 211 187
DDH103-44* 2 261 267 259
Note: DDH103-44 was drilled during the 2011 field season. Assay results were presented in news release dated March 6, 2012.

Location maps and a cross section are posted on the Cap-Ex website at:

Detailed logging of all drill core collected to date, indicates a repetition of the mineralized horizon. The mineralization is open at both ends of the 2,050 metre long drill line and at depth.

True widths of the reported intercepts above vary depending on the angle of the individual drill holes and are estimated to be between 70% 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; results are pending.

To date, Cap-Ex has completed approximately 6,000 metres of a minimum 15,000 metres of drilling planned for this year. Four diamond rigs are currently drilling the second of five planned drill lines. This second drill line is approximately 2,000 metres long and is located 600 metres south of and parallel to the first drill line.

The results of the current drill program will be used for an initial National Instrument (NI) 43-101 resource estimate on a portion of the Greenbush Zone located within the Block 103 property, planned to be released by the end of 2012. The Company intends to follow the successful completion of the NI 43-101 resource estimate with a Preliminary Economic Assessment, planned for release in Q1 2013.

About the Block 103 Project

The Block 103 Iron Ore Project is located in western Labrador and covers roughly 20,000 hectares within the Labrador Trough, approximately 30 km northwest of Schefferville, Quebec. Two distinct zones of magnetite mineralization, the Greenbush Zone and the Northwest Zone, were identified on the property as a result of a 6,000 metre drilling campaign conducted in 2011. Mineralization was consistently encountered at shallow depths with thicknesses of up to 260 metres. Laboratory analysis revealed very consistent grades of mineralization ranging from 28.5% to 34.6 % Total Fe. Sample processing and assaying was executed by SGS Canada Labs in Lakefield, ON, using XRF, Satmagan and Davis tube techniques.

Qualified Person

Alex Walus, P. Geo., an employee of the Company and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release.

About CAP-EX Ventures Ltd.

Cap-Ex Ventures Ltd. is a Canadian-listed company, focused on the development of its Block 103 Iron Ore Project in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to 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


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 timing for the NI 43-101 resource estimate and preliminary economic assessment on a portion of the Greenbush Zone. 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.


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