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Metalex Ventures Ltd. - T1 Diamondiferous Kimberlite, Ontario - Exploration Update
Metalex Ventures Ltd. - T1 Diamondiferous Kimberlite, Ontario - Exploration Update.
About this update from Metalex Ventures Ltd.
[{"type":"text","content":"\n\n\n\n\nLOWNA, BC, Aug. 17 /CNW/ - Metalex Ventures Ltd (MTX - TSX Venture\nExchange) (\"Metalex\" or the \"Company\")\n\nProcessing of 1992.8 kg of kimberlite drill core from minibulk sample\nholes T1-5, T1-6 and the lower part of T1-3, drilled in diamondiferous\nkimberlite T1, has been completed and the CF Minerals Laboratory report that\n896 natural diamonds were recovered. Approximately 70% of these are white\ndiamonds.\nTo date 8 holes have been drilled in T1 of which diamond results are\navailable for 6. A total of 4,201 kg of kimberlite core has been processed and\n1,768 diamonds have been recovered. The size distribution of these diamonds is\ngiven on the table below (note this includes previously reported data for\nholes T1-B, T1-1, T1-2, T1-4 and the upper part of T1-3).\n\n>\n\nDrill holes T1B and T1-1 are vertical holes drilled in the magnetic\ncentre of the body (not necessarily the geographic centre) and holes T1-2 to\nT1 -5 are drilled from the same location but inclined at 74 degrees to the\neast, west, south and north respectively. T1 - 6 is located south of drill\nhole T1 and is drilled northwards at 60 degrees to locate the southern margin\nof the pipe.\nThe high proportion of white diamonds within T1 and the average diamond\ncount of 420 diamonds per 1000 kg are most encouraging.\nCollection of the 200 tonne bulk sample from T1 has been temporarily\nsuspended pending extension of the bulk sampling permit granted by the\nMinistry of Northern Development and Mines (\"MNDM\"). Metalex has been advised\nby the MNDM that they have a duty to consult with the affected First Nations\nand that they have arranged meetings with the Marten Falls First Nation and\nthe Attawapiskat First Nation on September 6, 2006. Metalex expects that the\nrequested extension will be granted on a timely basis following these\nconsultations.\nTo date 88 tonnes of kimberlite have been collected from T1 and\ndiscussions are in progress to use the heavy media plant that was used to\nprocess the early bulk samples from the Ekati Mine. This plant has an accurate\nand proven recovery circuit and is able to recover diamonds from hard\nkimberlite such as is found in some parts of T1.\nCertain Metalex exploration projects are managed by Kel-Ex Development\nLtd., a company owned by Dr. Charles Fipke, the Chairman of Metalex. Dr. Peter\nGregory, t...