Cap-Ex Ventures Ltd. is a Canadian iron ore company focused on exploration and development of iron ore projects in the Labrador Trough near Schefferville, Quebec. Cap-Ex projects cover an area over 121,000 hectares, strategically located close to iron ore processing plants and rail. The Company's Block 103 property is on strike to direct shipping ore ("DSO") deposits both to the north and south.
This 2011 drilling campaign on Block 103's Greenbush Zone has enabled the Company to outline an area that could host a significant magnetite deposit. These latest drill results have increased this mineralised insitu area to over 20 square kilometres.
Based on the publicly disseminated 2011 drill results and airborne geophysical programs, the following interpretations can be formulated regarding the Greenbush Zone:
The area with strong magnetite mineralization is at least 20 square kilometres in size. This Zone features very strong, coincident magnetic and gravimetric airborne anomalies, which show remarkable reliability as drilling targets. All 25 drill holes have encountered ore grade mineralisation from 45 to 265 metres.
The average length of the core intercepts of magnetite mineralization encountered in the 25 holes drilled in the 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 mineralisation is 30.5% iron and the Davis Tube concentrate grades average 68.2% iron and 4.7% silica.
Specific Gravity ("SG") of 3.3 is used at this time, which is the same used for the surrounding deposits.
The mineralization starts near surface in most of the holes and is open in all directions.
Plan Nord.
The Quebec government recently announced the $80 billion "Plan Nord" infrastructure development project which includes a northern land link through the Labrador Trough and rail lines which will pass within close proximity to Lac Connelly (refer to Quebec government website "plannord.gouv.qc.ca").
Cap-Ex is listed on the TSX Venture Exchange under the symbol CEV and on the Frankfurt exchange under the symbol XOV.