🕐11.06.11 - 21:27 Uhr
CABO DRILLING COMMENCES DRILLING AT ALDERON RESOURCE CORP. KAMI IRON ORE PROJECT IN LABRADOR
Cabo Drilling Commences Drilling at Alderon Resource Corp.
Kami Iron Ore Project in Labrador
North Vancouver, BC – Cabo Drilling Corp.
(TSX-V: CBE) (“Cabo”
or the “Company”) announces that it’s Quebec Division, Forages
Cabo Inc., located in Chambly, Quebec, has been awarded a drill
contract for 10,000 meters at Alderon Resource Corp.’s Kami Iron
Ore Project in Labrador.
The Kami Property is located in close proximity to the mining towns
of Wabush, Labrador City and Fermont.
The Company has deployed two fly drills with an anticipated start up
date in early June.
A third fly drill will be deployed to site at the
beginning of July 2011 to increase the number of drills on the Kami
Iron Ore Project to three.
Cabo Drilling Corp.’s CEO and President John Versfelt states, “We
are pleased to be a part of the Alderon Resource Corp.’s Kami Iron
Ore Project.
Cabo Drilling has been providing custom drill programs
to our clients wherever they are needed, within varied landscapes and
unique operating environments for many years.”
About Alderon Resource Corp.
(TSX-V: ADV)
Alderon is a leading iron ore exploration and development company in
Canada.
The 100% owned Kami Project is located within an existing
iron ore district and is surrounded by producing iron ore mines.
The
Alderon team is comprised of skilled professionals with significant
iron ore expertise to advance the Kami Property towards production.
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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