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Cap-Ex Iron Ore Ltd.
Summary
| Project: | Later | |
|---|---|---|
| Deposit: | Later | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/17/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-10-2016: Cap-Ex Iron Ore Ltd. announces an Exploration/Drilling Update report for its Later deposit at the Later project. Drilling results incl. 41.3m @ 0.42g/t Au from 18.71m. Cap-Ex Iron Ore Ltd. (TSX-V: CEV) (“Cap-Ex” or the “Company”) is pleased to | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Adrian Smith (Internal) | |
| ABSTRACT: | Cap-Ex Iron Ore Ltd. (TSX-V: CEV) (“Cap-Ex” or the “Company”) is pleased to report results from the Company’s recent drill program on the Later Property in Central British Columbia. The Later Property is an early stage gold copper prospect located 50 kilometres (km) northwest of the Mt. Milligan Copper-Gold mine in British Columbia’s porphyry belt. To date, Cap-Ex has completed 3 holes totaling 1,107 metres, focused on one of two “blind” massive (2-3 kilometre wide) chargeability anomalies. Assay results from the third hole of the summer program are pending. The results from this initial phase of drilling confirm the presence of a large hydrothermal system with elevated gold over significant distances. Elevated gold has now been identified over a distance of 1,600m and appears to be directly related to the massive 3 kilometre wide chargeability anomaly, related hydrothermal system, and associated porphyry style alteration. This wide chargeability anomaly is still open to the north and west. Upon receipt of assay information from the third hole, the data will be incorporated into the 3D model focusing on alteration, mineral assemblages and elevated gold and copper values. The evidence suggests that the current drilling has been within a large halo that could be related to a significant copper gold deposit (this is based on the sheer size and consistency of the hydrothermal system encountered to date). The Company plans to use the existing drilling information to generate additional targets within the same massive chargeability anomaly for future drilling. | |
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