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Metalex discovers four new kimberlitic pipes in Angola
KELOWNA, BC, June 27 /CNW/ - Metalex Ventures Limited (MTX:TSX - Venture Exchange) is pleased to ...
About this update from Metalex Ventures Ltd.
[{"type":"text","content":"\n\n\n\nKELOWNA, BC, June 27 /CNW/ - Metalex Ventures Limited (MTX:TSX - Venture\nExchange) is pleased to announce that another four potentially diamondiferous\nkimberlitic pipes have been found at its project in Angola. This brings the\nnumber of kimberlitic pipes discovered to thirteen on its property situated at\nthe headwaters of the highly diamondiferous Cuango River.\n\n\nCore drilling of the first kimberlitic pipe was terminated due to\ntechnical difficulties after only 24 feet of drilling. However, as the pipe\nwas encountered at a depth of only 5 feet a sample of 200kg was collected by\npitting. The helicopter magnetic survey indicates that this pipe is\n2.3 hectares in size.\n\n\nThe second kimberlitic pipe was intersected from a depth of 11 to\n565 feet. Sandstone was intersected from 565 feet to the end of the hole at\n600 feet. The geophysics suggests that this pipe is relatively small at\n0.5 hectares in size.\n\n\nWhile preparing the drill pad a third kimberlitic pipe was discovered\nnear surface. A 200 kg sample was collected by pitting. The helicopter\nmagnetic survey indicates a size of 3.1 hectares for this target.\n\n\nDue to rugged topography the drill was unable to be sited directly over\nthe fourth target. An inclined hole directed towards the center of the target\nintersected minor stringers of kimberlite at depth. A 200kg sample of the\nkimberlitic pipe was collected by pitting at the center of the anomaly. As\nthis target has remnant magnetization it is not possible to estimate its size\nusing the available geophysical data.\n\n\nDrilling operations continue on the project.\n\n\nManagement is pleased with the continued success of the drilling\noperations in Angola and looks forward to core results from the first three\nholes and the first follow up heavy mineral samples which are expected within\ntwo weeks. It is hoped that these results will assist in the discovery of the\nsource kimberlites of the abundant alluvial diamonds presently being mined\ndownstream in the Cuango River.\n\n\nMr. Chad Ulansky is the Qualified Person responsible for the technical\ncontents of this press release.\n\n\nAbout Metalex\n\n\n-------------\n\n\nMetalex is a Canadian based exploration company with strategic Canadian\nand international projects.\n\n\nIn the vicinity of the "Ring of Fire" in northern Ontario the...