CANADIAN IMPERIAL VENTURE CORP.
News Release August 24, 2011
Trading Symbol:TSX Venture Exchange: CQV
Canadian Imperial announces Odd Twins results
St. John’s, NL: Canadian Imperial Venture Corp. (“CIVC” / the “Company”) is pleased to announce initial results from its Odd Twins industrial mineral project located near Lourdes on the Port au Port Peninsula in Western Newfoundland. Three NQ diameter holes were drilled in late 2010 to test a twin-peaked linear magnetic anomaly that is known from a ship-borne magnetometer survey in 1969. The holes were drilled from shore into outcropping exposures of the clastic Winterhouse formation, a steeply dipping member of the Late Ordovician Long Point Group. All three holes encountered alternating red, green and buff sandstone and shale beds which ranged in thickness up to 1 metre.
Three bulk samples were sent to Ross Gilders at New Brunswick Research Council in Fredericton for evaluation. Sample J1833-1 is from surface outcrops and Samples 2 and 3 are from the upper part of drill holes L10-01 and L10-02 respectively. Samples were crushed and heavy minerals were gravity separated. Concentrates were assayed and analyzed by Scanning Electron Microprobe. Preliminary results for gold and platinum group elements are presented in Table 1.
Table 1: Gold and PGE analyses from three Odd Twins bulk samples
|
Table Feed
|
Products
|
Mass
|
Assays (ppm)
|
|
Description
|
ID
|
(g)
|
(%)
|
Au
|
Pd
|
Pt
|
Rh
|
|
J1833-1
|
Concentrate
|
J1833-1-Tbl Con
|
59.8
|
0.9
|
0.059
|
<0.010
|
<0.010
|
<0.010
|
|
Middling
|
J1833-1-Tbl Mids
|
182
|
2.8
|
|
|
|
|
|
Tail
|
J1833-1-Tbl Tail
|
6339.2
|
96.3
|
|
|
|
|
|
J1833-2
|
Concentrate
|
J1833-2-Tbl Con
|
115.0
|
1.6
|
0.11
|
<0.010
|
<0.010
|
<0.010
|
|
Middling
|
J1833-2-Tbl Mids
|
258
|
3.6
|
|
|
|
|
|
Tail
|
J1833-2-Tbl Tail
|
6810
|
94.8
|
|
|
|
|
|
J1833-3
|
Concentrate
|
J1833-3-Tbl Con
|
27.0
|
0.5
|
0.176
|
<0.010
|
<0.010
|
<0.010
|
|
Middling
|
J1833-3-Tbl Mids
|
623
|
10.8
|
|
|
|
|
|
Tail
|
J1833-3-Tbl Tail
|
5102
|
88.7
|
|
|
|
|
The following results (Table 2) were also reported from whole rock analyses.
Table 2. Iron, Chromium and Titanium Concentrations from three Odd Twins bulk samples
|
Sample No.
|
Fe2O3
|
Cr2O3
|
TiO2
|
|
J1833-1
|
4.49
|
0.61
|
0.94
|
|
J1833-2
|
7.18
|
1.18
|
1.74
|
|
J1833-3
|
9.88
|
0.07
|
0.85
|
…/2
Continuing work on the samples will consist of detailed mineralogical studies, and analyses for rare earth element concentrations. An economic evaluation of the results is currently under way.
Dr. Ulrich Kretschmar, PhD, PGeo (APGO No.1160) is the qualified person and has approved the wording of the technical descriptions in this news release.
CIVC and Monarch Energy are 40/60 partners in the Odd Twins industrial minerals project (71 contiguous mineral claims covering 1775 hectares) which overlie EL 1070 and the Green Point oil-in-shale play where CIVC has a 38.5% interest and a post earning working interest of 19.25%.The fact that the Odd Twins Overlies the oil-in-shale play may result in certain synergies which could reduce input costs to any mining operation that may be established. Low cost energy from oil and gas production could be available nearby and infrastructure and equipment (e.g. roads) could be shared with petroleum installations given that some common partnerships exist in the tenure of the petroleum and mineral lands.
Canadian Imperial Venture Corp. is an independent Canadian-based energy company, a leader in the Green Point oil-in-shale play. Eastern Canada is the home to such developments as the Hibernia, Terra Nova, White Rose, Sable Island, Deep Panuke, and McCully fields.
CANADIAN IMPERIAL VENTURE CORP
By: “Gerard Edwards”
Gerard Edwards, MBA
President and CEO
Contact Information:
Canadian Imperial Venture Corp.
P.O. Box 6232, Stn. C
St. John’s, NL A1C 6J9
Tel.: (709) 739-6700 / Fax: (709) 739-6605
E-mail: info@canadianimperial.com / website: www.canadianimperial.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS PRESS RELEASE.
This release includes certain forward looking statements which reflect beliefs, expectations, objectives and goals which are believed to be reasonable at the time such statements are made. Actual results could differ materially from anticipated results and may be impacted upon such factors as commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation.
