Business
First hole intersects a diatreme in Angola
KELOWNA, BC, Feb. 7 /CNW/ - Metalex Ventures Limited (MTX : TSX Venture Exchange) is pleased to r...
About this update from Metalex Ventures Ltd.
[{"type":"text","content":"\n\n\n\nKELOWNA, BC, Feb. 7 /CNW/ - Metalex Ventures Limited (MTX : TSX Venture\nExchange) is pleased to report core drilling is underway on its Angolan\nproject. A diatreme and associated crater infill sediments, consistent with a\nkimberlite have been intersected on the first hole.\n\n\nDrilling commenced on a large magnetic target in the Cuango River valley\non its concession in northern Angola. A field examination of core recovered to\ndate from the first hole confirmed the following:\n\n\n0 to 25 feet Overburden\n25 to 48 feet Finely bedded sediment\n48 to 62.5 feet Locally brecciated diatreme with abundant small -\n medium sized rounded autoliths\n62.5 to 90 feet Finely bedded sediment with local breccia\n90 to 120 feet Locally brecciated diatreme with abundant altered\n coarse rounded autholiths and local basement (granite)\n xenoliths\n\n\nDrilling is continuing on this hole.\n\n\nMetalex geologists are most encouraged as the foregoing sedimentary drill\nintersections appear to be similar to crater infill sediments that occur\noverlying kimberlite diatremes such as at the Mwadui Diamond Mine in Tanzania.\nAdditional petrography and processing for diamonds and diamond indicators are\nneeded for confirmation that the sediments are kimberlitic and that the\ndiatreme is a phase of kimberlite.\n\n\nAlong with the drilling, pitting is being carried out on 34 magnetic\nanomalies which represent kimberlite targets. About 65 magnetic anomalies in\nareas covered by alluvium are being evaluated by detailed heavy mineral\nsampling, ground geophysics and core drilling. The results of Metalex's heavy\nmineral sampling indicate that the source kimberlites of the abundant alluvial\ndiamonds presently being mined downstream should be found within its license\narea.\n\n\nDr. Charles Fipke, P. Geo is the Qualified Person responsible for the\ntechnical contents of this press release.\n\n\nChad Ulansky\n\n\nChad Ulansky\n\n\nPresident and CEO\n\n\n%SEDAR: 00008159E\n\n\n","length":2158,"tagName":"div"}]