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Metalex Ventures Ltd. - Three new kimberlites discovered in Angola
Metalex Ventures Ltd. - Three new kimberlites discovered in Angola.
About this update from Metalex Ventures Ltd.
[{"type":"text","content":"\n\n\n\n\nLOWNA, BC, Nov. 22 /CNW/ - (MTX - TSX Venture Exchange) (\"Metalex\" or\nthe \"Company\").\nThe Company is pleased to announce that three new bodies of kimberlite\nhave been found in Angola. The kimberlites were found by follow up of\naeromagnetic anomalies (see press release dated September 7, 2005) by ground\nmagnetic surveys and shallow auger drilling. The modeled sizes of the\nkimberlites, based on aeromagnetics, are 400 x 80 metres (4.5 ha); 250 by 150\nmetres (3.1 ha) and 250 x 165 metres (3.4 ha). Auger samples have been\ncollected and will be sent to the CF Mineral Research laboratory for analysis\nfor diamonds.\nA further 5 targets were also investigated but the overburden was too\ndeep or too hard in three of them and these will have to be drill tested\nlater. Red sediments were intersected in the fourth and as these sediments\nmight be crater infill over kimberlite this target also warrants further\ndrilling. The fifth anomaly is interpreted as due to magnetic country rocks\nand is of no interest.\nProcessing of an 11.3 kg grab sample of kimberlite breccia taken from a\ngarimpeiro pit in the Caicala kimberlite, discovered by the Company last year,\nreturned one gem quality octahedral microdiamond diamond measuring \n205 mm x 209 mm x 143 mm. Abundant elcogitic garnets, purple pyrope,\npicroilmenite and chrome diopside, as well as minor chromite, were also\nrecovered and these minerals are currently being analyzed at the CF Mineral\nResearch laboratory. The modelled size of Caicala, based on aeromagnetics, is\n400 x 230 metres (7.8 ha) and further work is proposed to identify and sample\neach of the phases of kimberlite present.\nThe Company is most encouraged by these early results. As previously\nannounced more that 100 aeromagnetic targets have been discovered of which 56\nhave been modeled and show targets ranging in size from 10 metre dykes to\n20 hectare pipe like responses. That three, of the four targets tested,\nresulted discovery of kimberlite is particularly encouraging.\nFuture kimberlite work will consist of drill testing the remaining\npriority aeromagnetic anomalies using a helicopter supported power\nauger/drill, a system that has proved particularly cost effective in northern\nOntario. Staged sampling will be carried out of discovered kimberlites.\nMetalex's exploration projects are managed b...