Business
Amended news release: Metalex announces drilling progress on large Angolan kimberlite
KELOWNA, BC, June 15 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX) ("Metalex") wishes to retract its...
About this update from Metalex Ventures Ltd.
[{"type":"text","content":"\n\n\n\nKELOWNA, BC, June 15 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX)\n("Metalex") wishes to retract its news release of earlier today and is issuing\nthis release with the intent that it supercede and replace the prior release.\nMetalex is pleased to report the completion of the fourth core hole and\nprogress on the fifth hole drilled into the large (approximately 24 hectare)\nkimberlite discovery reported in the news release of April 1, 2009.\n\n\nHole four was drilled at the same site as the vertical hole 3 but\ninclined (-55 degrees) towards the first two core holes located 283 meters\ndistant at a bearing of 158 degrees. Hole 4 intersected diatreme facies\nkimberlite at 6 meters until 227 meters where it entered probable crater\ninfill sandstone. From 245 meters to 284 meters an alternating sequence of\nfine grained magmatic kimberlite and probable crater infill siltstones was\nintersected. From 284 meters to the end of hole at 359 meters probable crater\ninfill sandstone was intersected.\n\n\nHole 5 is located 524 meters south, south east at a bearing of 158\ndegrees from hole 4. From this location the drill was inclined -50 degrees at\na bearing of 338 degrees towards hole 4. Drilling intersected possibly crater\ninfill derived sandstone until 179 meters where kimberlite breccia was\nintersected. The kimberlite breccia continued to 254 meters where fine grained\nmagmatic kimberlite was intersected through to 289 meters. Drilling continues\nin probable crater infill sandstone at 382 meters.\n\n\nCore from the first holes is in Luanda where it has now been approved for\nexport and is scheduled to depart via air cargo for Canada on Tuesday June\n16th, 2009. Upon arrival the core will be processed for diamonds and diamond\nindicator minerals at CF Mineral Research Ltd.\n\n\nMetalex is pleased that the drilling of holes over 500 meters apart has\nintersected kimberlite. This drilling confirms the large size of the\nkimberlite.\n\n\nDr. Charles Fipke, a qualified person, is responsible for the technical\ncontent of this release.\n\n\n"Chad Ulansky"\n\nChad Ulansky, President & CEO\n(250) 860-8599\[email protected]\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as\nthat term is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adeq...