Cabo Drilling Announces Drilling Contracts with Almina - Minas do Alentejo, SA in Portugal
December 03 2012 - 9:01AM
Marketwired
Cabo Drilling Corp. (TSX VENTURE:CBE) ("Cabo Drilling" or the
"Company") along with its Business Cooperation Agreement partner,
Geoplano SA ("Geoplano") (see Cabo news release dated November 8,
2012), is pleased to announce the award of two surface drilling
contracts with Almina - Minas do Alentejo, SA ("Almina").
Almina is a Portuguese mining company located 170 km south of
Lisbon in the agricultural town of Aljustrel, in Portugal's
Alentejo region. The mining area is 4.7 km2 wide and includes the
deposits of Sao Joao, Moinho, Feitais and Estacao.
The first contract with Almina consists of 10,000 meters of HQ
and NQ drilling located on a site close to Almina's operating
underground mines in Aljustrel, Portugal. The Company and Geoplano
currently have two drills on the property. The first drill is
Cabo's CS-14, which has started to drill the deeper holes in the
program (up to 980 meters). The second drill, Geoplano's Rolatec
600, has started drilling the shallower holes in the program (up to
550 meters).
The second drilling contract with Almina is for three deep
holes, totaling 2,400 meters of HQ and NQ drilling, at Almina's
Estacao project. Cabo has mobilized a CS-14 drill to the Estacao
project, which is located close to the city limits of Aljustrel,
Portugal. Drilling on this program has also commenced.
About Almina - Minas do Alentejo, SA
Almina is a Portuguese mining company, whose social goal is the
extraction and valuing of pyrites, sulphides and other ores, the
trade, transport of the products and derivatives and the research,
purchase and development of technological methods for its mining
activities.
About Geoplano SA
Founded in 1973, Geoplano-Geotechnical Consultants was one of
the first Portuguese companies specialized in geotechnical
engineering, and has taken part in many emblematic national
projects since then, such as Siderurgia Nacional (Portuguese Steel
Industry), Complexo Petroquimico de Sines (Sines Petrochemical
Complex) and the initial sections of motorways A1 and A2. Abroad,
Geoplano participated in studies and projects for dam constructions
in Mauritania, Nigeria and the Ivory Coast.
In 2001, after a change in the ownership structure, the name of
the company was modified to Geoplano Aherne - Geotechnical
Consultants, thus marking the beginning of a renovation cycle.
This new phase has been marked by the strengthening of technical
facilities, internationalization to Eastern Europe and Africa, and
an investment in areas such as pavement investigation, groundwater
works and environmental assessment. Currently a Limited Company,
Geoplano-Consultants continues to seek new markets and areas of
action, based on a perspective of innovation and continuous
improvement of its services.
About Cabo Drilling Corp. (TSX VENTURE:CBE)
Cabo Drilling Corp. is a drilling services company headquartered
in New Westminster, British Columbia, Canada. The Company provides
mining specialty drilling services through its Canadian divisions
in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake,
Ontario; and Springdale, Newfoundland; as well as Cabo Drilling
(America) Inc. of the United States; Cabo Drilling (Panama) Corp.
of Panama, Republic of Panama; Cabo Drilling Colombia Corp. of
Colombia; 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, Chairman, President and CEO
Further information about the Company can be found on the Cabo
website (http://www.cabo.ca) and SEDAR (www.sedar.com).
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.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Cabo Drilling Corp. Sheri Barton Corporate
Communications 403-217-5830 Cabo Drilling Corp. Mr. John A.
Versfelt Chairman, President & CEO 604-527-4201 www.cabo.ca