New Cantech Ventures Inc.

New Cantech Ventures Inc.

August 20, 2007 15:21 ET

New Cantech Ventures Inc. Announces Completion of the Phase 4 Infill Drilling Program and Start of Geotechnical Drilling

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 20, 2007) - As announced in previous news releases, New Cantech Ventures Inc. ("Cantech") (TSX VENTURE:NCV)(FRANKFURT:C7X), is conducting infill drilling at the Lucky Ship Molybdenum Property, located 85 kilometres by road southwest of Houston B.C. The main objectives of this drilling were to move that part of the Lucky Ship mineral resource classified as inferred into the indicated category and to provide initial groundwater (hydrology) information on the deposit. The groundwater drilling is part of the baseline assessments for project development.

The infill drilling program, designated as Phase 4, was started on February 20, 2007 and was targeted to complete over 14,000 metres of diamond drilling in 47 holes. Drilling on the property was suspended on April 29, 2007 after completion of 11,781 metres of drilling in 38 holes (LS07-69 to LS07-106) because spring thaw conditions made roads to the property unusable. On July 7, 2007 Driftwood Diamond Drilling of Smithers B.C. moved a skid mounted drill back onto the property and resumed drilling. Since then an additional 1,931 metres of drilling has been finished in eight holes (LS07-107 to 114). Complete assay results for these holes should be available by the middle of September. Results for drill holes LS07-69 to LS07-106 were disclosed in previous news releases. The Phase 4 drilling program is now complete.

Driftwood Diamond Drilling has now moved their drill to an area south and down slope from the Lucky Ship deposit where a number of short, vertical geotechnical holes will be drilled. These holes will be used by Lorax Environmental Services Ltd., of Vancouver BC to assist in determining the pre-existing (baseline) groundwater parameters at a location down gradient of the deposit. This work is required as part of any project development and will be utilized for groundwater (hydrology) modeling of the site.

When the geotechnical drilling is finished, the drill will be moved to a location 400 metres northwest of the Lucky Ship deposit. The target of this drilling, which will be designated Phase 5, is an area of north trending, steeply dipping quartz-molybdenite veins observed in a large gossanous outcrop east of the old access road. Amax drilled a vertical hole in this area (LS07-05) that intersected 0.141% Mo over 6.1 metres at a depth of 338 metres below surface.

Cantech has applied for a permit to drill a number of additional geotechnical evaluation holes, in an area identified as a potential tailings storage facility (T6B). This drilling will be completed using both a truck mounted and a helicopter supported coring drill. The purpose of this drilling is to determine the foundation conditions under the proposed tailings dams.

The following environmental and engineering assessments on the project are in progress:

- Evaluation and geotechnical assessment of Tailings Storage Facilities - Siting and Layout Options - BGC Engineering Inc.;

- LIDAR topographic survey - Terrapoint;

- Evaluation of groundwater (hydrogeology) quality and flows, Metal Leaching/Acid Rock Drainage evaluation, Surface Water and Sediment Quality - Lorax Environmental Services Ltd. and Ecos Environmental Consulting Inc.;

- Aquatic Biota, Fish Assessment Programs, Terrestrial & Predictive Ecosystem Mapping Vegetation, Wildlife, Archaeology and Air Quality - JacquesWhitford-Axys;

- Hydrology - Golder Associates; and

- Refinements to the Preliminary Economic Assessment - ACA Howe International Ltd.

Qualified Persons

Dr. Donald G. MacIntyre, P.Eng., a qualified person under National Instrument 43-101, has been supervising Cantech's 2007 Phase 4 drill program, will be supervising Cantech's Phase 5 drill program and has reviewed and approved the technical disclosure in this news release.

Bruce Graff, P. Eng., a qualified person under National Instrument 43-101, is the Lucky Ship Project Manager has been supervising Cantech's 2007 developmental studies and has reviewed and approved the technical disclosure in this news release regarding the environmental and engineering development studies.

About Cantech

Cantech is a TSX Venture listed mineral exploration and development company focusing on the development of its Lucky Ship Molybdenum Property in northern British Columbia and the advancement of its other mineral exploration properties, most of which are located in British Columbia and all of which are located within Canada.


James Jacuta


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein.

Contact Information

  • New Cantech Ventures Inc.
    Dalton B. DuPasquier
    President and CEO
    (604) 541-7288