GeoVenCap Provides Exploration Update
10 Agosto 2012 - 5:19PM
PR Newswire (Canada)
MONTREAL, Aug. 14, 2012 /CNW Telbec/ - GeoVenCap Inc. ("GeoVenCap")
is pleased to provide a progress update on gold and silver
exploration programs underway on its different projects in northern
New Brunswick. California Lake A diamond drill program was recently
completed on the California Lake silver project with 2,003 metres
drilled in twelve holes. The main focus of the program was to test
the strike extension of the mineralized zones that had previously
been drilled over a maximum strike length of approximately 600
meters (see press release of May 24, 2012). A total of 386 metres
of drill core has been split and samples sent to AGAT Laboratories
in Mississauga for analyses with analytical results expected
shortly. Upsalquitch In July, a trenching program was completed in
the south part of the Upsalquitch Project approximately 2 km south
of previous gold discoveries on the adjacent Williams Brook
property. Trenching was carried out to test induced polarization
(IP) anomalies (chargeability) proximal to angular quartz boulders
discovered in 2011 that assayed 40.50, 4.64 and 2.76 g/t Au.
Alteration zones with local quartz veins were identified in
trenches TR5495-12B, -12C and -12F located on metric grid line nos.
500N, 700N and 0N respectively. Alteration occurs over widths up to
50 meters in the trenches and is associated with a chargeability
anomaly that extends for 1 km through the entire survey grid and
remains open along strike to the northeast and southwest. Quartz
vein samples collected from geological mapping in 2012 have
returned values of 6.69 and 1.02 g/t Au approximately 2 km to the
southwest of trench TR5495-12F and along the trend indicated by the
chargeability anomaly. Results are pending for 94 samples collected
from the trenching program. IP results have been received for a
survey carried out approximately 2 km south of the trenching
program. Chargeability anomalies have been identified that are
proximal to soil geochemical anomalies with soil values ranging up
to 356 ppb Au. A trenching program is planned to test the
chargeability/soil anomalies. Williams Brook An induced
polarization survey recently completed on the Williams Brook
property has identified a chargeability anomaly proximal to an
anomalous soil geochemical value of 63 ppb Au. A trenching program
is planned to test this anomaly and various other targets on the
Williams Brook property. Arthur Hamilton, P.Geo., Director of
Exploration for GeoVenCap Inc. is a Qualified Person as defined
under NI 43-101 guidelines and has reviewed the technical
information contained in this release. About GeoVenCap GeoVenCap is
a mineral company focused on exploration principally for silver and
gold in northern New Brunswick. Its priority is to explore and
develop four highly prospective projects located between 30 and 105
km west and southwest of the city of Bathurst, New Brunswick: the
California Lake Silver Project, the Upsalquitch Gold Project, the
Williams Brook Gold Project and the Bathurst Mining Camp - Base
Metal Project. These projects are in close proximity of mines and
advanced projects owned by Xstrata, Votorantim and Trevali Mining.
Forward-Looking Statements. This news release contains discussion
of items that may constitute forward-looking statements within the
meaning of securities laws that involve risks and uncertainties.
Although the company believes the expectations reflected in such
forward-looking statements are based on reasonable assumptions, it
can give no assurances that its expectations will be achieved.
Factors that could cause actual results to differ materially from
expectations include the effects of general economic conditions,
actions by government authorities, uncertainties associated with
contract negotiations, additional financing requirements, market
acceptance of the Company's products and competitive pressures.
These factors and others are more fully discussed in Company
filings with Canadian securities regulatory authorities. "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." GeoVenCap Inc. CONTACT: Leon MethotPresident and
Chief Executive Officer(514) 868-9408
x255lmethot@geovencap.comwww.geovencap.com
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