Canada's Cabo Drilling To Drill Extra 14,500 M in Albania

Cabo Drilling has been awarded two additional contracts calling for the drilling of 13,000 metres on the Perlati project of Balkan Resources and 1,500 metres on the company's Librazhd project, Cabo said in a statement. The projects are located in Albania.

The company gave no financial details on the contracts.

The first project is located in the copper district of Miredita, about 50 kilometres north of the capital Tirana. The objectives of the drill programme are to delineate the known deposit to a NI 43-101 compliant mineral resource, expand the existing mineralised zone and test further exploration targets, Cabo said.

The second project, located in the central district of Librazhd, envisages a diamond drill programme consisting of three exploration holes. The targeted area has no historic diamond drill information, but has an historic resource that was based on excavations in the area, it added.

Cabo Drilling, headquartered in North Vancouver, British Columbia, Canada, provides mining related and specialty drilling services through its divisions in Canada, Mexico,, Panama, Spain and Albania. In Albania, it is a 70% owner of Balkan States Drilling, which offers drilling services in Albania and the rest of southeast and eastern Europe.

Cabo Drilling (www.cabo.ca) entered Albania last month when it was awarded a contract to drill for a minimum 10,000 metres on the Balkan Resources' Kokogllave Drill project in Devoll, in southern Albania.

Canada-based Balkan Resources (www.balkanresources.com) is focussed primarily on nickel and copper opportunities in Albania.