Cavan Ventures Inc.
TSX VENTURE : CVN

Cavan Ventures Inc.

August 07, 2012 10:40 ET

Cavan Provides More Rare Earth Assays and Files NI 43-101 Report for the Pythonga Rare Earth Property in Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 7, 2012) - CAVAN VENTURES INC. (TSX VENTURE:CVN) ("Cavan" or the "Company") is pleased to provide additional rare earth element (REE) assays from its Pythonga Property, located approximately fifteen kilometers west of the town of Maniwaki, Quebec. As reported previously, the best REE assays come from pegmatite dykes that vary in size from 4-20 meters in width and several hundred meters in strike length (see news release, June 6, 2012). A second sampling program was conducted in October 2011 to obtain additional samples from the pegmatite dykes, with the best results from that program reported in the table below.

Table 1. REE assays from the Pythonga Property, Quebec. Values in weight percent.
Sample Number 203277 203175 203336 203256 203301 203214 203035 203174
sample type grab grab grab grab grab grab grab grab
La2O3 * >1.17 0.63 0.81 0.42 0.47 0.34 0.04 0.11
Ce2O3 * >1.17 >1.17 0.98 0.80 0.74 0.66 0.14 0.22
Pr2O3 * >0.12 0.12 0.08 0.07 0.07 0.07 0.02 0.02
Nd2O3 0.85 0.35 0.23 0.21 0.18 0.22 0.10 0.08
Sm2O3 0.09 0.04 0.02 0.02 0.02 0.03 0.02 0.01
Eu2O3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Gd2O3 0.04 0.02 0.01 0.01 0.01 0.01 0.02 0.01
Tb2O3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dy2O3 0.02 0.01 0.00 0.01 0.00 0.00 0.02 0.00
Ho2O3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Er2O3 0.01 0.00 0.00 0.00 0.00 0.00 0.01 0.00
Tm2O3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Yb2O3 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00
Lu2O3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Y2O3 0.07 0.04 0.02 0.01 0.01 0.00 0.12 0.01
Total REE,
wt%

>3.55*

>2.39*

2.15

1.56

1.49

1.34

0.53

0.46
*For overlimit results, the overlimit value is used in the total. Results in ppm are converted to wt.% REE, then to REO using factors provided in Gagnon and Camus, 2012, Technical Report Mineral Resource Estimation Update Eldor Property - Ashram Deposit, Nunavik, Quebec, (for Commerce Resources, Inc.) Geostat, SGS Canada Inc., 117p.

The Pythonga Property is composed of late Proterozoic metasedimentary, amphibolite, gneiss, and calc-silicate rocks exhibiting amphibolite to granulite facies metamorphism. The highest REE contents noted on the property occur in pegmatites, with the greatest concentration of high REE samples located on the eastern claim blocks. A total of 390 samples have been collected, either as channel samples or surface rock grab samples between 1-2kg in mass. (Channel sample volumes were 0.3-1.5m long by 0.03m wide by 0.05m deep). A map showing the distribution of samples on the Pythonga Property can be seen on the company website at www.cavanventures.com.

The Company is also pleased to announce the filing on SEDAR on July 31, 2012 of a National Instrument ("NI") 43-101 technical report on the Pythonga Project. The independent technical report has been prepared by Roger Oullet (P.Geo.). Mr. Oullet is the independent Qualified Person responsible for the preparation of exploration results for the Pythonga Project. Details for the Pythonga Project are included in the technical report, which is titled "Compilation of Exploration Work on the Pythonga Property, Summer 2011" NI 43-101 Report dated 10 December 2011, as filed on SEDAR.

Mr. Peter Swistak, President of Cavan Ventures states, "The Pythonga Property has revealed a real potential for economic rare earth mineralization. We intend to mount a focused exploration campaign commencing with follow-up surface sampling, trenching and identification of diamond drilling targets."

The Pythonga Lake Project consists of 110 claims divided into three blocks, of which 53 claims are held 100% by the Company. The remaining 57 claims are under option from Investments Horizons, Inc. (Quebec City, Quebec), whereby Cavan may acquire 70% through a cash payment of $27,500 and issuing 200,000 shares, then performing $500,000 in work over two years. An additional 30% may be acquired through $100,000 in cash and issuing 2.5 million shares.

The technical contents of this release were approved by Dr. Tom McCandless, P.Geo., a qualified person as defined by National Instrument 43-101.

Cavan Ventures Inc. is a junior exploration company actively seeking mineral opportunities for the benefit of all its stakeholders. For further information please visit us at www.cavanventures.com.

ON BEHALF OF THE BOARD

Peter P. Swistak, President

Forward-Looking Statement:

Some statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Cavan Ventures, Inc. Actual results may differ materially from those currently anticipated in such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cavan Ventures Inc.
    Peter P. Swistak
    President
    (604) 683-3995 or Toll Free: (888) 945-4770
    www.cavanventures.com