🕐14.06.11 - 18:54 Uhr
CABO DRILLING CORP. COMMENCES DRILLING AT RIDGEMONT IRON ORE CORP.S REDFORD IRON ORE PROPERTY
Cabo Drilling Corp.
Commences Drilling at
Ridgemont Iron Ore Corp.s Redford Iron Ore Property
North Vancouver, BC – Cabo Drilling Corp.
(TSX-V: CBE) (“Cabo”
or the “Company”) announces that its Cabo Drilling (Pacific)
division, located in Surrey, BC, has been a awarded a drill contract
for 13,000 meters at Ridgemont Iron Ore Corp.’s Redford iron ore
property located on Vancouver Island, BC.
Ridegmont’s exploration program will consist of 13,000 metres of
diamond drilling, as well as an aggressive ground geophysics and
reconnaissance program.
Their goal is to outline a National
Instrument 43-101 compliant iron ore resource this Fall and delineate
new iron ore targets.
Drilling at the project has started.
Cabo is utilizing an S-2 fly
drill that was recently upgraded with state of the art hydraulics to
enhance production and provide a greater safety element for
employees.
A second upgraded S-2 fly drill will be mobilizing to the
project near the end of the June".
“We are excited to be a part of Ridgemont’s professional services
team at their Redford iron ore property,” stated John A.
Versfelt,
Cabo Drilling Corp.’s CEO and President.
“Our goal is to provide
drilling services in a safe, cost effective and professional manner
which will enable our clients to achieve their goals.”
About Ridgemont Iron Ore Corp.
(TSX-V: RDG)
Ridgemont is an exploration and development company in Canada and has
an option to acquire up to 75% interest in the Redford iron ore
property located 22 kilometres northeast of Ucluelet, in the Alberni
Mining Division, Vancouver Island, British Columbia.
About Cabo Drilling Corp.
(TSX-V: CBE)
Cabo Drilling Corp.
is a drilling services company headquartered in
North Vancouver, British Columbia, Canada.
The Company provides
mining related and specialty drilling services through its Canadian
divisions in Surrey, British Columbia; Montréal, Quebec; Kirkland
Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling
(Nevada) Inc.
of the United States; Cabo Drilling (Panama) Corp.
of
Panama, Republic of Panama; Cabo Drilling Panama-Pacifico Corp.
of
Panama, Republic of Panama doing business as Cabo Drilling Colombia
Corp.; Cabo Drilling Spain S.L.
of Sevilla, Spain; Balkan States
Drilling SH.P.K.
of Tirana, Albania; and Cabo Drilling
(International) Inc.
The Company’s common shares trade on the
Frankfurt Exchange under the symbol: DHL and on the TSX Venture
Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD
“John A.
Versfelt”
John A.
Versfelt
Chairman, President and CEO
Further information about the Company can be found on the Cabo
website
) and SEDAR (www.sedar.com) or by contacting Sheri Barton, Corporate
Communications at 403-217-5830 or Mr.
John A.
Versfelt, Chairman,
President & CEO of the Company at 604-984-8894.
For general investor
relation inquiries you may also contact Renmark Financial
Communications Inc.
Barbara Komorowski:
or Arash Shahi:
at Tel: 514-939-3989 or 416-644-2020.
* * * *
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, potential mineral recovery processes and
other business transactions timing.
Forward-looking statements
address future events and conditions and therefore, involve inherent
risks and uncertainties.
Actual results may differ materially from
those currently anticipated in such statements.
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