Cavan Announces Completion of 25 Tonne Bulk Sample

VANCOUVER, BC / DECEMBER 19, 2017 / VERTICAL EXPLORATION INC. (TSX-V: VERT) (“Vertical” or “the Company”) is pleased to announce that it has completed a 25 tonne bulk sample on its 100% owned St-Onge Wollastonite Project. The 25 tonne sample comes from the main zone and is located inside the historic open pit limit where Historical* combined measured and indicated Mineral Resources were of 45.2 MT at 38.19 % Wollastonite using a 30% cut off. The bulk sample was collected by Magnor Exploration Inc. of Saguenay under the supervision of Christian Tremblay, P.Geo., M.Sc. for mineral characterisation and metallurgical testing with an objective to produce commercial samples in Cavan’s projected global marketing strategy.

The Historical resources of the property with ancient labelling prior to NI 43-101 combined measured class I and Class II with the indicated Mineral Resources were of 45.2 MT at 38.19 % Wollastonite using a 30% cut off on wollastonite. The % wollastonite was derived from mineral norm constitution based on whole rock analysis.

The Historical resources of the property with ancient labelling prior to NI 43-101 combined measured class I and Class II with the indicated Mineral Resources were of 45.2 MT at 38.19 % Wollastonite using a 30% cut off on wollastonite. The % wollastonite was derived from mineral norm constitution based on whole rock analysis.

  • The reader is cautioned that the above referenced “Historical Resource” is considered historical in nature and as such is based on prior data and reports prepared by previous property owners and the company is not treating the historical estimate as current mineral resources.
  • The historical mineral resources used in the Feasibility Study in 1994 where prepared by Claude Duplessis, P.Eng. The report title is:  Rapport de l’Analyse de la Distribution Spatiale des Minéraux du gîte de Wollastonite du Canton St-Onge. Systemes Geostat International Inc., produced for Orleans Resources Inc.
  • The estimation were prepared in conformity with the CIM classification of that time.
  • The historical mineral resources where derived by estimation of blocks and geostatistics within a geological enveloped of wollastonite mineralisation prepared by the Sr. geologist of the project.
  • In order to bring the mineral resources to NI -43-101, a QA/QC and verification of density has to take place as well as the presentation of a reasonable prospect of economic extraction.
  • A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves;

Moreover in order to prepare NI 43-101 the company is also currently working at sorting and labelling approximately 7,000 meters of mostly NQ with minor BQ size dill core from 81 recovered diamond drill holes that have been realised in 1992, 1993 and 1994 across the deposit by Orleans Resources, previous owner of the St-Onge project. The Company is anticipating an independent resampling of some drill core sections to take place in the first quarter of 2018.

“This is a major step towards our objective to develop and bring up to date our St-Onge Project. It will be essential to complete our homework in order have a solid base to develop our  technico-economical study and allow us to discuss eventual off take agreements with potential clients, it is a requirement in the definition of reasonable prospect of economic extraction to seek off take agreement” commented Peter Swistak, President and CEO Cavan Venture. ”

We are targeting to have a mineral resource in the first quarter of 2018 which should enable the Company to proceed afterward with a preliminary economic study aiming completion for the second quarter of 2018.

The technical and scientific content of this press release has been reviewed and approved by Claude Duplessis, P.Eng. Qualified Person under National Instrument 43-101.

ABOUT VERTICAL EXPLORATION
Vertical Exploration’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. The Company’s flagship St-Onge Wollastonite property is located in the Lac-Saint-Jean area in the Province of Quebec.

ON BEHALF OF THE BOARD
Peter P. Swistak, President/CEO

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

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.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).

SOURCE: Vertical Exploration Inc.