Cavan Acquires Tetepiska Graphite Property in Quebec
04 Dicembre 2013 - 3:26PM
Marketwired
Cavan Acquires Tetepiska Graphite Property in Quebec
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 4, 2013) - CAVAN
VENTURES INC. (TSX-VENTURE:CVN) ("Cavan" or "the Company") is
pleased to announce that it has acquired the Tetepiska graphite
property in northeastern Quebec, located 24 kilometers southwest of
the Lac Guéret graphite project that is presently under advanced
exploration by Mason Graphite.
The 100%-owned Tetepiska property includes 54 mining claims
covering 2,925.72 hectares. Two timber roads provide good access to
the eastern part of the property, and the western part is
accessible by boat or by gravel road. Graphite was first discovered
at Tetepiska on a small cliff overhanging the eastern shore of
Tetepiska Lake, with a historical grab sample returning 58.1% Cg.
Graphite mineralization in the area is controlled by the Nault
Formation, the equivalent of the Menihek Formation of the Knob Lake
Group that is part of the Grenville Metamorphic Province. The Nault
formation is composed of meta-sedimentary rocks, largely as
paragneisses. Three types of graphite have a particular
distribution within the Nault Formation. A macrocrystalline type is
associated with quartz-feldspar schist, whereas microcrystalline
and amorphous vein-type graphite are found in meta-mudstone (M.
Giroux, 2008, Contrôle stratigraphique et qualité minéralurgique
des gîtes de graphite des Lacs Guérêt et Guinecourt, Terrane
Gagnon, Province de Grenville, UQAM M.Sc., 138p.).
In November 2013, due diligence reconnaissance was carried out
by Magnor Exploration Inc. on behalf of the Company. Several
graphite mineralized layers were observed on the property, and
ranged from 5-10 meters in width in outcrop. Twenty-one channel
samples were collected and sent to ALS Minerals (Val d'Or, Quebec)
for graphite assays. Results are expected in the coming weeks, at
which time the details of the sampling will be presented in
conjunction with graphite assays.
Under the terms of the agreement, Cavan will pay $12,234, and
issue a total of two million shares over a 48-month period. A 2%
royalty is also included, of which 1.5% can be purchased back for
$1,500,000.
The technical contents of this release were prepared and
approved by Dr. C. Derosier, P. Geo., independent consultant to
Cavan and a qualified person as defined by National Instrument
43-101.
Cavan's mission is to identify, acquire, and advance high
potential mining prospects located in North America for the benefit
of its stakeholders. For more information visit the website at
www.cavanventuresinc.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.
Cavan Ventures Inc.Peter P. SwistakPresident1-604-683-3995 or
Toll Free: 1-888-945-4770www.cavanventuresinc.com
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