VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: NCV)(FRANKFURT: C7X)
is pleased to report that it has received the final molybdenum (Mo)
assay results for the Phase 4 infill drilling program at the Lucky
Ship Molybdenum Property. Lucky Ship is located 85 kilometres by
road southwest of Houston, British Columbia, Canada, and is
considered to be one of North America's significant molybdenum
deposits.
A.C.A. Howe International Limited, an independent consulting
firm, completed a National Instrument 43-101 compliant Preliminary
Economic Assessment as reported by New Cantech on May 2, 2007 and
filed on June 19, 2007. The Phase 4 drilling program was completed
on August 20, 2007 with the main objective being to convert that
part of the Lucky Ship mineral resource classified as inferred into
the indicated category. Now that the assay results have been
received the re-calculation of the mineral resource estimate can
now be undertaken.
Lucky Ship Phase 4 Final Assay Results
New Cantech has now received assay results for holes LS07-107 to
114 which were drilled between July 7 and August 20, 2007. Results
for holes LS07-69 to LS07-106 were reported in news releases on
June 15 and June 26, 2007. Significant molybdenum intersections for
holes LS07-107 to 114 are summarized in Table 1 below. A map
showing drill hole locations can be viewed on the New Cantech
website at (www.newcantech.com).
Table 1. Summary Drill Hole Information and Significant Molybdenum
Intersections
--------------------------------------------------------------------------
Significant Drill
Drill Hole Information Hole Intersections
--------------------------------------------------------------------------
Azi- Length Length(m.)
Hole Easting Northing Elev. muth Incl. (m.) From To @ % Mo
--------------------------------------------------------------------------
No significant
LS07-107 599838 5987165 998 325 -90 205.20 intersections
--------------------------------------------------------------------------
24.00m
LS07-108 599798 5987138 994 325 -90 260.90 51 75 @ 0.039
--------------------------------------------------------------------------
160.00m
LS07-109 599838 5987165 998 325 -75 205.13 47 207 @ 0.051
------------------------
incl- 18.00m
uding 51 69 @ 0.102
--------------------------------------------------------------------------
88.39m
LS07-110 599778 5987374 1104 330 -44 227.38 51.82 140.21 @ 0.083
------------------------
incl- 36.57m
uding 67.06 103.63 @ 0.127
--------------------------------------------------------------------------
108.00m
LS07-111 599746 5987359 1108 325 -45 251.76 73 181 @ 0.089
------------------------
incl- 36.00m
uding 81 117 @ 0.160
------------------------
incl- 4.00m
uding 167 171 @ 0.355
--------------------------------------------------------------------------
175.43m
LS07-112 599746 5987359 1108 325 -70 294.50 119 294.43 @ 0.059
------------------------
incl- 16.00m
uding 135 151 @ 0.108
------------------------
incl- 12.00m
uding 171 183 @ 0.107
--------------------------------------------------------------------------
65.95m
LS07-113 599882 5987420 1080 325 -45 151.10 3.05 69 @ 0.052
------------------------
incl- 12.00m
uding 7 19 @ 0.89
--------------------------------------------------------------------------
101.95m
LS07-114 599847 5987389 1090 325 -45 151.10 3.05 105 @ 0.085
------------------------
incl- 4.00m
uding 5 9 @ 0.131
------------------------
incl- 58.00m
uding 35 93 @ 0.101
--------------------------------------------------------------------------
Drill holes LS07-107 and 108 were drilled vertically outside the
southern limit of the molybdenum zone. These holes were drilled to
constrain the southern extent of molybdenum mineralization on this
side of the deposit. LS07-109 was drilled from the same setup as
LS07-107 but at a -75 degree angle and intersected the southern
edge of the deposit at a down hole depth of 47 metres. LS07-110
-112 were all collared within the low grade granite porphyry core
of the deposit and were drilled at an angle to the northwest
cutting through the northern half of the deposit. LS07-113 and 114
were collared within the molybdenum zone and drilled at an angle to
the northwest, intersecting the northern edge of the deposit at
depth.
All drill core is cut into halves, with one half being sent for
analysis and the other half kept for future reference. All analyses
were done by Acme Analytical Laboratories, Vancouver, British
Columbia, Canada, an ISO 9002 accredited laboratory, using the hot
Agua Regia digestion and ICP-ES analytical technique. A controlled
program of check, blank and duplicate sampling is employed
throughout with duplicates standards and blanks being entered into
the sample stream at regular intervals.
Lucky Ship Phase 5 Drilling
In a news release dated September 20, 2007, New Cantech reported
that three additional diamond drill holes, totaling 926.9 metres,
had been completed in an area centered approximately 400 metres
northwest of the Lucky Ship deposit. The target of this drilling,
designated as Phase 5, is a north trending, steeply dipping zone of
quartz-molybdenite veins observed in a large gossanous outcrop. New
Cantech is waiting to receive the assay results from the laboratory
for these three drill holes which will be released once they are
received.
Environmental Baseline and Engineering Studies
The following is an update from the September 20, 2007 New
Cantech news release on the current status of the environmental
baseline and engineering studies at the Lucky Ship Molybdenum
Project.
- A Project Description on the Lucky Ship deposit is currently
being compiled by Ecos Environmental Consulting Inc. of Smithers,
British Columbia. The Project Description is one requirement under
the Environmental Assessment Process in British Columbia, to obtain
an Environmental Assessment Certificate for a mining project the
size of Lucky Ship.
- Initial evaluation and geotechnical assessments of the T6B -
Tailings Storage Facility and the proposed plant site were
completed by BGC Engineering Inc. (BGC). A total of forty-nine test
pits were excavated throughout the proposed project area. The test
pits focused on locating potential earth fill resources for the
tailings dams and/or general construction materials for the
project, and for assessment of shallow foundation conditions at the
proposed plant site. This was followed up with drilling of fifteen
boreholes and installation of monitoring wells between September 5
and October 16, 2007 within the vicinity of T6B and the proposed
plant site. A majority of the geotechnical drill holes were drilled
along the preferred T6B dam alignments, with four holes being
drilled at the proposed plant site. A summary report on the results
of the geotechnical programs to date is expected from BGC in the
near future.
- BGC Engineering Inc. has submitted a Draft Report on the
Terrain Inventory Mapping program completed for the project area
between August 1 and 8, 2007.
- Evaluations on groundwater (hydrogeology) quality and flows
within and below the mineralized zone continued to be carried out
through monitoring of existing wells. The establishment of
additional wells proposed in the Phase 3 groundwater program has
been delayed due to unavailability of an appropriate drilling rig.
The Phase 2 program of Static, Kinetic and Field Bin test work is
ongoing and intensive Surface Water and Sediment Quality
assessments continue to be carried out by Lorax Environmental
Services Ltd. and Ecos Environmental Consulting Inc. throughout the
project area.
- Extensive Aquatic Biota and Fish Assessment Programs were
implemented in September 2007 using Jacques Whitford-Axys (JWA).
The programs were designed to obtain pertinent fisheries
information for all the watersheds associated with the mine site,
plant site and T6B Tailings Storage Facility option. JWA is
actively compiling the field data for development of a report for
New Cantech.
- SRK Consulting Engineers and Scientists are currently
evaluating the various mining options for the project, and
- A pilot mill metallurgical test program was initiated in
October 2007 with G&T Metallurgical Services (G&T). A 2,200
kg sample of Quartz Feldspar Porphyry (QFP) mineralized material
was sent to G&T and is being milled, in order to further
evaluate the metallurgical characteristics of the QFP and to
determine a potential plant flowsheet.
Qualified Persons
Dr. Donald G. MacIntyre, P. Eng. a qualified person under
National Instrument 43-101, has reviewed and approved the technical
disclosure pertaining to the Phase 4 diamond drilling program
contained in this news release.
Bruce Graff, P. Eng., a qualified person under National
Instrument 43-101, is the Lucky Ship Project Manager and has been
supervising New Cantech's 2007 developmental studies. He has
reviewed and approved the technical disclosure in this news release
regarding the environmental and engineering development
studies.
About New Cantech
New Cantech is a TSX Venture listed mineral exploration and
development company focusing on the development of its Lucky Ship
Molybdenum Property in west central British Columbia and the
advancement of its other mineral exploration properties, most of
which are located in British Columbia and all of which are located
within Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
James Jacuta
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of the
information contained herein.
Contacts: New Cantech Ventures Inc. James Jacuta President and
CEO (604) 638-0699 Website: www.newcantech.com
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