Cap-Ex Ventures has expanded the length of the strike of the Green Bush magnetite zone through the step-out drill program. This Green Bush Zone, which is a strong magnetic anomaly present at the Block 103 property, was primarily examined by 10 drill holes that were spaced at the interval of 500 m, over 1 km thickness and strike length of 3.5 km.
The company is waiting for the assay results of many Block 103 drill holes and has discovered the Green Bush zone’s south and north, and major magnetite bearing Sokoman structure intersections in drill core of up to 7 km to the DDH103-23 hole’s northwest part, which has cut 31.3% iron over 159.9 m.
The hole DDH103-27 has expanded the Green Bush zone to 1.5 km, the DDH103-23 hole’s northwest direction and the holes DDH103-25 and DDH103-28 has extended the zone for 500 m to the western part. The results for holes DDH103-34, DDH103-35, DDH103-38, and DDH103-39 are pending. The company has to process the drill core for DDH103-18 but the magnetite bearing Sokoman structure that is cut by the hole expands the Green Bush zone to more than 7 km long.
Cap-Ex’s exploration will target on extending and outlining this recently identified Green Bush zone’s size by drilling continuously.
Major prospective is present to extend the Green Bush zone towards the southeast, southwest and northwest, where the huge and strong magnetic anomalies occurring are not examined through drilling. Consistent magnetic anomalies are found on Block 103 through drilling. Cap-Ex along with two drill rigs is continuing the drill program at the Block 103.
Primary drill hole results of the Green Bush zone has shown it has high-grade magnetite with grades beyond those of the taconite deposits like KeMag, LabMag.
Cap-Ex has started its reverse circulation rig operation in Schefferville. Currently, this rig is drilling the hematite targets located at its Redmond property, Quebec.
Source: http://www.cap-ex.ca/