VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/17/13 -- CAVAN VENTURES INC. (TSX VENTURE: CVN) ("Cavan" or "the Company") is pleased to announce that the Company has recently increased the number of claims covering its Pythonga Lake Rare Earth Element project.
The Pythonga Lake property is located at approximately fifteen (15) kilometres west of the town of Maniwaki, Quebec. It now consists of 166 map staked claims covering an area of approximately 9,843.80 hectares (24,323.70 acres). The claims are divided in three blocks: the East Block (72 claims), the Central Block (90 cellules) and the SW block (4 cellules).
The new claims increase the economic potential of the property because of the discovery of several new REE occurrences in the area during the 2011 and 2012 prospecting programs.
Following the excellent results obtained from the 2011 and 2012 prospecting programs, the Company also intends to drill to verify the extensions of the best channel samples along strike and at depth. The 2013 drilling program will be focused on three areas of mineralized outcrop. A total of 500m of diamond drilling is planned. The company is waiting for the approval of its permit by the Forestry Department after which it will mobilize the drilling equipment.
The new discovery ("Frog" Occurrence), which returned significant overlimit assays during the 2012 prospecting program, will be drill tested by two diamond drill holes. At the Frog Occurrence, channel sample P 268092 exceeded detection limits for Ce, La, Nd, Pr, Sm and Th, and produced a total REE value of 8.31% upon re-assay.
The "Frog" occurrence is found in mafic gneiss mixed with some pegmatite dikes. The outcrop is 1-2m wide and was followed over 25m in length. The occurrence is open in both directions and is considered as a priority target.
The second target to be drill tested is located in the eastern part of the East Claims Block and was discovered in 2012 during the prospecting program. At this location sample P268076 returned a total REE value higher than 7%. This showing will be tested by three diamond drill holes.
Finally, a third showing discovered in 2011 (sample 203302: greater than 4.23% REE; sample 203303: greater than 3.96% REE and sample 203001: 3.79% REE) is considered as a secondary target that will be tested at depth by two diamond drill holes.
The diamond drilling program will be started once the permit will be received and the snow cover at the target areas is gone.
The technical contents of this release were approved by Dr. Christian Derosier, P.Geo., a qualified person as defined by National Instrument 43-101.
Cavan Ventures Inc. is a junior exploration company actively seeking mineral opportunities for the benefit of all its stakeholders. For further information please visit us at www.cavanventuresinc.com.
ON BEHALF OF THE BOARD
Peter P. Swistak, President
Some statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Cavan Ventures, Inc. Actual results may differ materially from those currently anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cavan Ventures Inc.
(604) 683-3995 or Toll Free: (888) 945-4770
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