Metalex announce discovery of large kimberlite pipe in Angola and recovery of large diamonds in Ontario

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[{"type":"text","content":"\n\n\n\nKELOWNA, BC, April 1 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX) ("The\nCompany"), is pleased to announce that an exceptionally large kimberlite pipe,\nmodeled by geophysical consultant Scott Hogg at 500 x 600 meters (+/- 24\nhectares), has been intersected by our core drilling project in Angola. This\nis the most recent of 29 newly discovered kimberlite pipes on the Company's\nconcession at the headwaters of the Quango River. Core drilling, auger\ndrilling and pitting are presently being used to evaluate over 100 geophysical\nanomalies on the concession. The heavy mineral sampling results indicate this\narea to contain diamond bearing kimberlite pipes. The Company believes that\nthese pipes have been partially eroded, producing the large quantities of\nalluvial diamonds presently being mined in the river downstream.\n\n\nTo date, 38 geophysical anomalies have been tested of which 29 have been\nfield and/or laboratory identified as kimberlite. Of the 29 targets sampled,\n19 have recently been received by the C.F. Minerals Laboratory in Kelowna, BC.\nOf those samples received, three have now been completely tested for diamonds.\nThe results indicate one kimberlite pipe tested to be barren of diamonds and\ntwo others to be weakly diamondiferous. The lab is currently analyzing\nkimberlite samples from 16 more targets and results will be reported when\nreceived.\n\n\nThe large pipe was intersected at 198.5 meters depth and the drill is\nstill in primary kimberlite at 224 meters depth. This was the second vertical\ncore hole drilled into the pipe. The first hole was only drilled to 154.6\nmeters and failed to penetrate completely through the kimberlite crater infill\ninto primary kimberlite. Kimberlite crater infill from both holes as well as\nprimary kimberlite from the second hole will be shipped to the C.F. Minerals\nlab as soon as possible and analyzed for diamonds.\n\n\nT1 and U2 Kimberlite, James Bay Lowlands, Ontario\n-------------------------------------------------\n\n\nResults to date, from the T1 and U2 diamond bearing kimberlites\nrespectively 78 and 62 kilometers west of the Victor Mine, have recently been\npresented to three of the world's largest mining companies. We are encouraged\nfrom the meetings that a possible joint venture may result.\n\n\n4,201 kg of drill core previously processed from T1 yiel...

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