Goldhills Holding Ltd. press release
Fieldex announces high grade rare earth elements on Lac Sairs property
TSXV - TSX Venture Exchange · Copper · Molybdenum · Silver · Gold · Zinc · Canada
ROUYN-NORANDA, QC, Aug. 28 /CNW Telbec/ - Fieldex Exploration Inc. (FLX: TSXV and F7E: Frankfurt ) is pleased to announce that during its 2007 uranium exploration program the Company discovered high grade rare earth ("REE") showings on its 100% Lac Sairs property in the Kipawa alcalin complex, located 100 kilometers northeast of North Bay (Ontario) within northwestern Quebec near the Quebec-Ontario border. The property comprises 17 claim blocks with a total area of approximately 1,002 hectares or 10 square-kilometers.
ASSAY RESULTS in ppm (if not indicated)
Sample Light ID: La Ce Pr Nd Sm Eu Gd REEs 3665 190 393 43.4 157 35.9 5.81 35.6 0.09% 3666 381 849 103 375 81.5 12.7 76.0 0.19% greater than 3667 10,700 21,300 1,740 4,940 725 100 649 4.01% greater than 3668 9,534 22,900 1,830 6,010 1,110 100 955 4.23% 3669 401 700 80.3 253 40.6 6.71 35.1 0.15% 3670 68.7 148 16.3 58.8 16.0 3.13 19.7 0.03% 3671 97.1 257 35.1 137 39.4 6.80 45.6 0.06%
Sample Heavy ID: Tb Dy Ho Er Tm Yb Lu REEs TREE 3665 6.6 50.1 13.3 50.2 8.9 56.3 7.3 0.02% 0.1% 3666 12.6 90.1 21.0 70.8 11.5 70.3 9.4 0.03% 0.2% 3667 76.5 447 91.3 262 34.4 167 18.0 0.11% 4.1% 3668 129 789 165 497 70.1 350 36.8 0.20% 4.4% 3669 5.4 38.8 9.3 32.1 5.2 29.4 3.2 0.01% 0.2% 3670 4.9 46.4 13.3 55.8 10.9 66.4 7.2 0.02% 0.1% 3671 10.8 94.6 24.9 96.9 16.8 95.3 10.4 0.03% 0.1%
Sample ID: Y Zr 3665 296 9,980 3666 489 4,420 3667 2,320 289 3668 3,330 9,020 3669 268 393 3670 450 146 3671 602 1,640 Analyse par Actlab ultratrace 3 certificate A06-5063
Martin Dallaire stated; "We knew this area was highly prospective for rare earth element but our focus in 2007 for this specific Lac Sairs project was uranium. Today, the demand for Rare Earth Elements is stronger than in 2007 so our technical team will reassess the whole Lac Sairs database and drillcore." The property occurs within the Kipawa basin in Proterozoic Grenville Province. The basin comprised of metamorphosed and folded sedimentary sequences that have been intruded by composite intrusive bodies. The most important intrusive rocks on the property an alkaline intrusive complex, which is also folded along with the sedimentary host rock. The uranium and REE mineralization occur both along this intrusive-sedimentary contact and within the sedimentary rocks away from the contact.
The Lac Sairs project was initiated in 2007 based on one of several possible geological concepts, the most attractive one being the Kipawa basin potentially hosting the sedimentary uranium-gold deposits. Fieldex drilled 10 holes in 2007 for a total of 2,406 metres. The drill core was assayed for Uranium but will be re assayed for REE in regards of the new information provided by those results.
Quality Assurance/Quality Control
Fieldex Exploration has implemented and adheres to a strict Quality Assurance/Quality Control program which includes mineralized standards and blanks for each batch of samples. Assay samples are taken from drill core sawed in half with one half sent to a commercial laboratory and the other half retained for future reference. Analyses are either performed by Techni-Lab S.G.B. Abitibi inc. in Sainte-Germaine Boule, Quebec, or by Laboratoire Expert Inc. in Rouyn-Noranda, Quebec, both accredited laboratories.
Qualified Person
The prospection and drilling program at that time was carried out under the supervision of Laurent Halle, geologist and qualified person as per National Instrument 43-101.
About Fieldex:
Fieldex is a mineral resource company actively exploring in Quebec for nickel-copper-platinum group metal deposits located through out Northern Quebec, representing over 600 km2. FNX Mining Company owns 6,500,000 shares of Fieldex Exploration Inc.. Fieldex has 46,810,907 shares outstanding, a cash position of $2M and an investment of 800,000 shares in Visible Gold Mines Inc.
Forward-looking Statements
This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the ability of Fieldex to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements, including risks disclosed in filings with the Canadian securities regulators made by Fieldex. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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