NU E Power Corp. press release
Metalex Ventures Ltd. - T1 Project, Ontario additional diamond results
CSE - Canadian National Stock Exchange · Canada
LOWNA, BC, April 7 /CNW/ - Metalex Ventures Ltd (MTX - TSX Venture Exchange)("Metalex" or the "Company"). The following diamond results, from processing of 190.49 kg of kimberlite drill core from drill hole T1-4 drilled into the T1 kimberlite pipe at the T1 Project, Ontario, were received from CF Mineral Research Ltd today. A total of 243 natural diamonds were recovered and their size distribution and combined weights in each size fraction is tabulated below:
<< Sieve less than 0.106 to 0.15 to 0.212 to Size (mm) 0.106 0.15 0.212 0.3 No. of diamonds 43 43 59 40 Weight (cts) 0.000154 0.000992 0.003401 0.007458
Sieve 0.3 to 0.425 to 0.6 to 0.85 to Size (mm) 0.425 0.6 0.85 1.18 No. of diamonds 29 17 7 5 Weight (cts) 0.014818 0.025062 0.023499 0.042859
This diamond result equates to 127 diamonds per 100 kg and is much higher than the average of 19.4 diamonds per 100 kg reported in the press release of February 8, 2006 from 1,745 kg of kimberlite and the value of 73 diamonds per 100 kg reported from 45 kg of kimberlite on June 17, 2005. Drill hole T1-4 was drilled due north at an angle of 76 degrees to determine the northern boundary of the T1 kimberlite pipe. It intersected kimberlite from 260 to 291 metres. Two high chrome G10 ten and 8 other G10 peridotitic garnets were also recovered along with numerous grains of diamond stability field chromite. This result is consistent with the very positive mineral chemistry reported in the February 8 press release. As stated in this release high chrome G10 - ten peridotitic garnets are normally associated with kimberlite that contain high diamond grades. Earlier this year (January 18th and February 8th) the Company announced that it was most encouraged by the quality and proportion (73.7%) of white diamonds recovered from T1 and by the excellent mineral chemistry and that it intended to collect and process a 200 tonne sample from T1 to determine the diamond grade and indicative stone value. The Company is pleased to report that this work is on schedule and that drilling the first of the 16 twenty two cm (8.75 inches) diameter RC drill holes should commence on Sunday, April 9th 2006. When the drilling is complete the +/- 200 tonne kimberlite sample will be treated using a heavy medium coupled Sortex recovery plant remote from site to recover contained diamonds. The Company, and its partner Arctic Star Diamond Corp, are particularly pleased with this most recent result and eagerly await the results from the 200 tonne sample.
Metalex's exploration projects are managed by Kel-Ex Development Ltd., a company owned by Dr. Charles Fipke, the Chairman of Metalex. Dr. Peter Gregory, the President of Metalex is a consultant to Kel-Ex. The arrangement with Kel-Ex provides Metalex with access to the advanced proprietary databases and interpretational techniques of Dr. Charles Fipke, an internationally recognized diamond geologist. In return, Kel-Ex receives a 10% administration fee and, in the case of the Canadian projects, a 10% interest in the project carried to production. (Kel-Ex will repay its proportionate share of the costs of mine development out of its share of mine profits). Dr. Fipke also owns the CF Mineral Research laboratory where samples collected in the exploration programs are analyzed. Dr. Peter Gregory, a Qualified Person, has verified that the work carried out by Kel-Ex, manager and operator of the Company's projects, is being carried out in a professional and diligent manner and that the appropriate quality controls are in place. Dr. Gregory has also inspected the CF Mineral Research laboratory and is satisfied that the work performed there meets or exceeds international best practices; that the work is performed on an arms length basis and in accordance with standard commercial arms length terms; and that the results provided by CF Mineral Research are accurate and reliable. On this basis the Company has not sought any independent analyses. However, should significant diamond grades be discovered the Company may seek independent verification of such results. Dr. Gregory has prepared this press release.
Peter Gregory President
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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