New Cantech Ventures Inc.

New Cantech Ventures Inc.

September 20, 2007 14:27 ET

New Cantech Ventures Inc.: Lucky Ship Molybdenum Project Moving Forward Through Phase 5-Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2007) - In a news release dated August 20, 2007, New Cantech Ventures Inc. ("New Cantech") (TSX VENTURE:NCV)(FRANKFURT:C7X) indicated that the diamond drill on site would be moved to a location 400 metres northwest of the Lucky Ship deposit. The target of this drilling, designated as Phase 5, is an area of north trending, steeply dipping quartz-molybdenite veins observed in a large gossanous outcrop. On August 24th, 2007 the drill was moved to this area and holes LS07-115 to LS07-117 were drilled with these three (3) holes totaling 926.9 meters. Phase 5 drilling is now complete and the core is currently being split and will be sent for assay analysis. New Cantech has now completed a total of 24,812 meters of drilling on the Lucky Ship property in a total of 94 holes.

To view "Plan view map of the Phase 5 drilling relative to the known mineralized resource", please click the following link:

Further geotechnical drilling is being considered at the Lucky Ship Project in order to gain additional information concerning groundwater hydrology and to assist in pit slope stability analysis. New Cantech is also looking at alternative methods of obtaining a representative metallurgical bulk sample. These alternatives could include additional diamond drilling and/or a bulk trenching program.

In addition to drilling activities an environmental and engineering team has been tasked with initiating many of the environmental baseline and engineering studies required to complete the "Government of British Columbia - Environmental Assessment" process for the Lucky Ship molybdenum mining project at Nanika Ridge.

The following environmental and engineering assessments have been recently completed or are currently in progress:

- Geotechnical assessment of T6B - Tailings Storage Facility is currently in progress. Two (2) ground based geotechnical drill holes have been completed, and a helicopter supported geotechnical drilling program has just started drilling the remaining six (6) holes located along the proposed tailings dam alignments. This work follows an exhaustive geotechnical and environmental evaluation of fifteen potential sites located within a 25 km radius of the mineralized zone. - BGC Engineering Inc.;

- Four (4) geotechnical drill holes at the proposed plant site located near the mineralized zone were completed by BGC Engineering in early September, 2007;

- A well equipped meterological (weather monitoring) station was established at the proposed plantsite earlier this summer, and another is planned for installation near the T6B - Tailings Storage Facility;

- Groundwater (hydrogeology) quality and flows within the mineralized zone are being continuously monitored in existing wells. Installation of additional groundwater wells is still required below the zone, planning for completion of this is underway. - Lorax;

- Surface water and sediment quality assessments are currently being performed by Lorax Environmental Services Ltd. and Ecos Environmental Consulting Inc.;

- Metal Leaching/Acid Rock Drainage - Phase 1 evaluation has been completed and a Phase 2 program of Static, Kinetic and Field Bin test work is now in progress;

- Aquatic Biota and Fish Assessment Programs have been initiated by JacquesWhitford-Axys and are being completed at this time;

- Hydrology evaluations are ongoing by Golder Associates;

- New Cantech's NI 43-101 compliant Preliminary Economic Assessment is undergoing an internal review with the assistance of ACA Howe International Ltd.;

- Phase 1 assessments of power line and access road requirements have been completed for the project by Ian Hayward Consultants;

- Further evaluation of the open pit and underground mining potential is underway with SRK Consulting Engineers and Scientists; and

- Additional metallurgical work, going beyond the initial two (2) lock cycle tests on the composites of QFP and Volcanic samples, is currently being planned with G&T Metallurgical Services.

New Cantech is a TSX Venture-listed mineral exploration and development company focusing on the development of its Lucky Ship Molybdenum Property located in west central 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.

Qualified Person

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


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.
    James Jacuta
    President and CEO
    (604) 638-0699