SG

Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:X0V) ("Cap-Ex" or
the "Company") is pleased to announce additional assay results from the 2011
diamond drilling on its wholly owned Block 103 iron property, which is located
30 kilometres northwest of the mining town of Schefferville, Quebec. 


Highlights from the eight new drill assay results, located within the southwest
area of the Greenbush Zone, include:




--  DDH103-40 intersecting 156.0 metres at 30.8% total Fe from 16.8 metres 
--  DDH103-30 intersecting 164.8 metres at 29.4% total Fe from 9.4 metres 
--  DDH103-29 intersecting 138.6 metres at 30.1% total Fe from 2.1 metres
    (Refer to Table 1 attached, for all the new results)



It is important to note that drill hole DDH103-26 and DDH103-42 ended in
mineralization and consequently the mineralization is open at depth. (Refer to
"Greenbush Zone Drill Hole Map" Figure 1 attached, which can also be found at
www.cap-ex.ca). 


The Company expects to soon receive additional 2011 drill assay results from
Block 103's Greenbush Zone and Northwest Zone. 


Based on the currently available 2011 drill results and airborne geophysical
programs, the Company has made the following interpretations regarding the
Greenbush Zone:




--  The Greenbush Zone hosts strong magnetite mineralization that has been
    identified to cover an area of at least 20 square kilometres. This Zone
    features strong, coincident magnetic and gravimetric airborne anomalies,
    which show remarkable reliability as drilling targets. All 25 drill
    holes have encountered significant mineralization from 45 to 265 metres
    in thickness.

--  The average length of the core intercepts of magnetite mineralization
    encountered in the 25 holes drilled in the Greenbush Zone is 118 metres.
    This number is based on assays from 17 holes and the visual estimation
    of magnetite content in the remaining holes. 

--  The average grade of the mineralization is 30.5% iron and the Davis Tube
    concentrate grades average 68.2% iron and 4.7% silica.

--  The Company is using a Specific Gravity ("SG") of 3.3, which is the same
    used for the surrounding magnetite deposits.

--  In most holes, mineralization starts near surface and is open in all
    directions.



Cap-Ex President and CEO, Mr. Francois Laurin comments, "These results are quite
encouraging and the Company is looking forward to proceeding with its aggressive
2012 drilling program with an objective of identifying and communicating an
initial mineral resource estimate."


TABLE 1 - Greenbush Zone



----------------------------------------------------------------------------
                    TABLE WITH ASSAYS AND CORE INTERCEPTS                   
----------------------------------------------------------------------------
Hole                       From             To  Core interval       Total Fe
----------------------------------------------------------------------------
number                      (m)            (m)            (m)            (%)
----------------------------------------------------------------------------
DDH103-2                    1.3           60.2           58.9           29.9
----------------------------------------------------------------------------
DDH103-6                   78.0          151.5           73.5           31.3
----------------------------------------------------------------------------
DDH103-26                   7.8           84.4           76.6           30.8
----------------------------------------------------------------------------
DDH103-29                   2.1          140.7          138.6           30.1
----------------------------------------------------------------------------
DDH103-30                   9.4          174.2          164.8           29.4
----------------------------------------------------------------------------
DDH103-33                   2.1           53.8           51.7           34.6
----------------------------------------------------------------------------
DDH103-40                  16.8          172.8          156.0           30.8
----------------------------------------------------------------------------
DDH103-42                   4.6           64.6           60.0           29.9
----------------------------------------------------------------------------



The true widths of the reported core intervals are estimated to be between 90
and 100 percent of these intervals.


Note: A recent petrographic study of samples from Block 103 revealed that, aside
from magnetite, most samples also contain significant amounts of hematite. That
prompted the Company to assay all samples for Fe2+ which is necessary to
calculate the amount of iron contained within hematite. The Company has decided
to report only the percent of total iron. The specific contents of magnetite and
hematite in all drill samples will be reported once the results for Fe2+ have
been received. 


Quality Assurance/Quality Control

The samples from drilling were processed and assayed by SGS Canada Lab based in
Lakefield, ON. The samples were assayed using XRF, Satmagan and Davis tube
techniques.


Alex Walus, PGeo., an employee of the Corporation and a qualified person
pursuant to National Instrument 43-101, has reviewed and approved the technical
and scientific information in this news release.


CAP-EX VENTURES LTD.

Francois Laurin, President and CEO

Cautionary Note Regarding Forward-looking Information 

This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements with respect to the future drilling
programs and budgets, expected mineralization, permitting and title issues, and
the interpretation of drill results. Generally, forward-looking information can
be identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such forward-looking
information. There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not undertake to
update any forward-looking information, except in accordance with applicable
securities laws.


To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/CEV-0118-FIG1.pdf.

SG Spirit Gold Inc. (TSXV:SG)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024

SG Spirit Gold Inc. (TSXV:SG)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024