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Metalex Ventures Ltd - U1 and U2 Results
Metalex Ventures Ltd - U1 and U2 Results.
About this update from Metalex Ventures Ltd.
[{"type":"text","content":"\n\n\n\nKELOWNA, BC, March 15 /CNW/ - Metalex Ventures Ltd (MTX - TSX Venture\nExchange) ("Metalex" or the "Company").\n\n\nT1 Project\n\n\n----------\n\n\nThe Company is pleased to announce results from two recently discovered\nkimberlites at its T1 project in northern Ontario. While these kimberlites\nappear to be part of a new kimberlite cluster they do have several\nsimilarities to the kimberlites in the vicinity of the Victor Mine\n40 kilometers away. These similarities include the pipes being relatively\nyoung as they penetrate the limestone cover, containing dominantly eclogitic\nand lherzolitic diamond indicator minerals and having low micro-diamond\ncontents.\n\n\nMetalex has additional geophysical targets in the vicinity of U1 and U2\nwhich are presently being drill tested.\n\n\nU1 Kimberlite\n\n\nAs predicted by the mineral chemistry of the previously recovered\nindicator minerals the U1 kimberlite pipe is diamondiferous. The processing of\n108.42 kilograms of kimberlite returned 3 micro-diamonds.\n\n\nU2 Kimberlite\n\n\n87.88 kilograms of kimberlite from a single drill hole in the seven\nhectare U2 pipe was processed for indicator minerals and diamond by attrition\nmilling. Two micro-diamonds were recovered.\n\n\nWithin this sample 67 Group I eclogitic garnets, 20 clinopyroxenes, 16\nolivines, 9 orthopyroxenes, 5 chromites and 3 peridotitic G10 garnets were\nrecovered with compositions analogous to those that have grown with diamond in\nthe earth's mantle. According to the proprietary classification system of C.F.\nMineral Research Ltd. these indicators all classified as "diamond indicator"\nminerals.\n\n\nData from public sources show that De Beers' Victor pipe contains\nmultiple kimberlite phases with low micro-diamond contents. The diamond\ncontent varies from phases containing almost no diamonds to phases containing\nlow micro-diamond contents but large high quality stones. A total of 40.14\nkilograms of kimberlite from Victor processed by CF Minerals (see press\nrelease dated November 3, 2005) only contained six micro-diamonds (0\nmicro-diamonds in 21.82 kg of one phase, 6 micro-diamonds in 18.32 kg of\nanother phase).\n\n\nThe similar indicator mineral results and micro-diamond contents of the\nU2 pipe and the Victor Mine indicates that U2 warrants additional testing to\ndetermine ...