Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Cap-Ex Ventures Ltd. (TSX-V: CEV) (“Cap-Ex” or the “Company”) is pleased to announce it has received and interpreted the preliminary data from the recently completed Airborne FALCON Gravity Gradiometer and High Sensitivity Magnetometer survey, conducted by Fugro Airborne Surveys Corp. The survey was conducted over the Company’s wholly owned Lac Connelly property located in the Labrador Trough.
Geophysical Consultant, Jean Hubert, has completed interpretation of the preliminary data, which has identified 17 hematite, Direct Shipping Ore (“DSO”) and magnetite priority targets up to five kilometres long and one kilometre wide. For the most part, the anomalies coincide with the large iron ore occurrences shown on the geological map prepared by the Government of Quebec in 1977.
The iron ore occurrences at Lac Connelly are comprised of hematite and magnetite units. Cap-Ex’s drill program will target the hematite units which can form DSO deposits. The interpretation reported that the hematite (DSO) could be encountered in all of the 17 targets.
Images of residual gravity and the first vertical derivative magnetic were used to select these priority targets, applying the following criteria:
Image is from Cap-Ex Ventures
