Cap-Ex Target Returns 29-32% Iron Ore Mineralization

Cap-Ex Ventures Ltd. (TSXV:CEV,FWB:X0V,OTCQX:CPXVF) announced it has begun drilling at its Block 103 Property in northwestern Labrador, Canada.

As quoted in the press release:

The current drill program will target an initial resource of approximately 800 million to 1 billion tonnes with an average grade between 29% and 32% iron. The potential tonnage and grade are conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. These figures are reported as exploration targets based on the presence of mineralized drill holes, mineralized zones which are open in most directions, and geophysical anomalies from data received by Cap-Ex. The program will also focus on outlining the continuation of 259 metres of folded mineralization encountered in 2011 drill hole DDH103-44.

Click here to read the Cap-Ex Ventures Ltd. (TSXV:CEV) press release.