Cabo to drill at more sites in Albania

TIRANA, Dec 16 – Cabo Drilling Corp.’s majority owned Balkan States Drilling SH.P.K. of Tirana has been awarded two additional contracts from Balkan Resources Inc. The contracts call for the company to drill 13,000 meters on Balkan Resources Perlati Project and 1,500 meters on their Librazhd Project, both located in Albania.
The Perlati project is situated in the Mirdite District, a known copper district, southeast of the city of Rreshen, about fifty kilometers north of Tirana in the northern part of the country. The objectives of the drill program are to delineate the known deposit to a compliant mineral resource, expand the existing mineralized zone and test further exploration targets. Cabo has brought a BBS-56 drill to the site and drilling has commenced.
The Librazhd Project is located in the Librazhd District near the town of Dardhe in central Albania. The initial diamond drill program consists of three exploration holes. The targeted area has no historic diamond drill information but has a historic resource that was based on excavations in the area. Preparation for the diamond drilling program has included the rehabilitation of 9.6 km of roads from the village of Upper Dardhe to the drill sites as well as the construction of a water reservoir near the drill sites. Cabo is drilling that site with a BBS-37 drill.
Balkan States Drilling SH.P.K. is a joint venture company 70 percent owned by Cabo Drilling Corp. of North Vancouver, BC, Canada and 30% owned by SHSHMN DOKO of Elbasan, Albania. Balkan States Drilling SH.P.K. offers drilling services in Albania as well as throughout the Balkan States Region of Eastern Europe.
Balkan is a Canadian junior mining and exploration company focused primarily on nickel and copper opportunities in Albania.
Claude Schimper, C.O.O. of Balkan Resources Inc. said that “The creation of a Canadian-Albanian joint venture drilling company represents a new phase in mineral exploration in Albania, enabling greater exploration opportunities in Albania.”