Goldhills Holding Ltd. press release
Fieldex and Cambior buy back 2.5% NSR on their Stadacona-East gold property
TSXV - TSX Venture Exchange · Copper · Molybdenum · Silver · Gold · Zinc · Canada
ROUYN-NORANDA, QC, April 6 /CNW Telbec/ - Fieldex Exploration Inc. (FLX :TSXV, F7E:FSE) is pleased to announce that Fieldex and its 50% joint venture partner and operator Cambior are buying back 2.5% NSR (Net smelter Return) on their Stadacona-East gold property located in Rouyn-Noranda. The Stadacona-East property was subject to a 3% NSR to a group of prospectors. The Stadacona-East gold property consists of 73 claims (14 sq.km) located 1.5 km south of the Horne mine (53.7 Mt of ore that averaged 2.22% Cu, 6.1 g/t Au and 13 g/t Ag) and beside the Stadacona mine (2.8 Mt of ore grading 5.5 g/t Au). Since the beginning of the joint venture, Cambior has undertaken 29 492 m (94 holes) of surface diamond drilling on the Stadacona-East property. The drilling program has led to the discovery of the Forbex gold deposit which is estimated to contain resources of 449 960 t grading 5.5 g/t Au (estimated prior to NI 43-101 standards and considered an historical estimate, Ref.: Gisement mDetallique, MRN, GM 57646) with a potential extension in depth. Some work could be further advanced, in the upcoming field season, leading towards a possible drill program in 2006.
Fieldex Exploration is a mineral resource company actively exploring deposits in Quebec in partnership with FNX Mining Company for nickel-copper- platinum group metal and for gold with Cambior and LakeShore Gold Corp. Fieldex owns many properties located in Northern Quebec, representing over 600 km(2).
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.