[meteorite-list] Cabo to Perform Deep Hole Drilling Project for Manicouagan Minerals Inc.

From: Ron Baalke <baalke_at_meteoritecentral.com>
Date: Wed Jul 27 14:07:28 2005
Message-ID: <200507271806.j6RI6ZV09047_at_zagami.jpl.nasa.gov>

http://biz.yahoo.com/prnews/050727/to251.html

Press Release Source: Cabo Mining Enterprises Corp.

Cabo to perform deep hole drilling project for Manicouagan Minerals Inc.
July 27, 2005

NORTH VANCOUVER, July 27 /PRNewswire-FirstCall/ - Cabo Mining
Enterprises Corp. ("Cabo" or the "Company") (TSX-V: CBE)
announces that its subsidiary
Heath & Sherwood Drilling (1986) Inc. ("Heath & Sherwood") has entered
into a contract with Manicouagan Minerals Inc. to perform a deep hole
drilling project. The project will consist of drilling several holes on
the Manicouagan Reservoir project, within the 65 km wide inner
Manicouagan impact crater, in north central Quebec. The proposed holes
will be approximately 5,000 ft in depth and will be used for exploration
purposes. Manicouagan anticipates a July 28, 2005 start-up for the
drilling program.

The property is situated on a large island, formed by a Triassic Age
(214 million yrs.) meteorite. Access to the property will be by
transport truck, helicopter and fixed wing aircraft. Trucks will deliver
the equipment to the staging area, where it will be flown, piece by
piece, to the drill site. Approximately 30 tons of equipment, including
some 13 tons of drill rods and casings will be moved to the site. All of
the fuel for the drill equipment, camp and helicopter must also be flown
to the island by fixed wing aircraft.

The logistics of this program are quite different than most drill
projects. Access to the property can only be gained by aircraft.
Therefore, everything is moved in, set up, and moved from hole to hole
by air. The holes will be drilled deeper than most fly jobs, and will
require the use of equipment especially suited for deep drilling and
highly experienced drillers.

Heath & Sherwood has many years of deep hole drilling experience, and is
able to employ, custom-designed drill programs and innovative
transportation logistics programs, integrating the use of ocean going
and barge vessels, commercial airlines, fixed wing aircraft and
helicopters, to carry out clients' projects.

Cabo Mining Enterprises Corp. is a drilling services company
headquartered in North Vancouver, British Columbia, Canada. The Company
provides services through its subsidiaries Heath & Sherwood Drilling
(1986) Inc., of Kirkland Lake, Ontario; Petro Drilling Company Limited
of Springdale, Newfoundland; Stratacan Inc. of St. John's, Newfoundland;
Forages Cabo Inc. of Montreal, Quebec; and Advanced Drilling Ltd. of
Surrey, British Columbia. Cabo also holds interests in mineral
exploration properties located near Cobalt, Kenora, and Sudbury,
Ontario, Canada. The Company's common shares trade on the TSX Venture
Exchange under the symbol: CBE.

    ON BEHALF OF THE BOARD

    (signed "John A. Versfelt")

    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) or
by contacting Investor Relations Ms. Sheri Barton at 403-217-5830 or Mr.
John A. Versfelt, Chairman, President & CEO of the Company.

The Exchange has not in any way passed upon the merits of this news
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.
Received on Wed 27 Jul 2005 02:06:33 PM PDT