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Kimberlite U1 Indicator Mineral Results
Kimberlite U1 Indicator Mineral Results.
About this update from Metalex Ventures Ltd.
[{"type":"text","content":"\n\n\n\nKELOWNA, BC, March 1 /CNW/ - Metalex Ventures Ltd (MTX - TSX Venture\nExchange) ("Metalex" or the "Company").\n\n\nT1 Project\n\n\n----------\n\n\nU1 Kimberlite\n\n\nMetalex has now received the indicator mineral results from the U1\nkimberlite in its T1 project in northern Ontario.\n\n\n108.42 kilograms of kimberlite was processed for indicator minerals and\ndiamond by attrition milling. The diamond results are awaited. Within this\nsample 59 Group I eclogitic garnets, 17 olivines, 6 clinopyroxenes, 3\nchromites and 1 peridotitic G10 garnet were recovered with compositions\nanalogous to those that have grown with diamond in the earth's mantle.\nAccording to the proprietary classification system of C.F. Mineral Research\nLtd. these indicators all classified as "diamond indicator" minerals, thereby\nindicating that the U1 kimberlite is diamondiferous. Diamond results are\nexpected shortly.\n\n\nDetailed aeromagnetic surveys conducted over U1 indicate that it is a\nsmall pipe with a diameter of 65 meters.\n\n\nU2 Kimberlite\n\n\nKimberlite from the recently discovered seven hectare U2 pipe is\ncurrently being processed for indicator minerals and diamonds at C.F. Mineral\nResearch Ltd. Results from U2 are expected next week.\n\n\nDrill testing of the remaining priority one targets is continuing.\n\n\nThe Attawapiskat First Nation has recently made several public statements\nconcerning Metalex's T1 project. Metalex is committed to continued dialogue\nwith affected First Nations and looks forward to productive future\nnegotiations.\n\n\nThe T1 project is a joint venture between Metalex (91.5%) and Arctic Star\nDiamond Corp. (8.5%). The joint venture has also discovered the promising T1\nkimberlite from which the collection of a 200 ton bulk sample is partially\ncomplete.\n\n\nNew Liskeard Project Relinquished\n\n\n---------------------------------\n\n\nMetalex has withdrawn from its New Liskeard project in north eastern\nOntario. The claims were evaluated using an airborne geophysical survey and\nthe best targets were drill tested. Results were not of sufficient interest\nfor Metalex to continue investing funds.\n\n\nCertain Metalex exploration projects are managed by Kel-Ex Development\nLtd., a company owned by Dr. Charles Fipke an internationally recognized\ndiamond geologist. Dr. Fipke is the ...