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Abitex and Continental Nickel intersect new sulphide zones at the St. Stephen project in New Brunswick
Abitex and Continental Nickel intersect new sulphide zones at the St. Stephen project in New Brun...
About this update from Vision Lithium, Inc.
[{"type":"text","content":"\n\n\n\n Jun. 23, 2010 (Canada NewsWire Group) -- VAL-D'OR, QC, June 23 /CNW Telbec/ - Abitex Resources Inc. (TSX-V: ABE) (the "Company") is pleased to announce initial results from a diamond drill program on its 100% owned St. Stephen nickel-copper-cobalt property in New Brunswick. Under an option agreement signed in 2008, Continental Nickel Limited (TSX-V: CNI) ("Continental Nickel" or "CNI") of Toronto, Ontario can acquire an initial 50% interest and up to a 75% interest in the project. CNI is the operator during the earn-in period.\nContinental Nickel reports that it has intersected several zones of sulphide mineralization while testing electromagnetic ("EM") anomalies on the property. Assay results are expected by mid-July and will be reported once they have been reviewed and validated.\nYves Rougerie, President & CEO of Abitex Resources Inc., reports "We are very pleased with these initial drill results by Continental which have discovered several new sulphide zones associated with previously unknown, untested or poorly tested EM anomalies. The results have confirmed the potential for the discovery of new sulphide zones on the property and validate Continental's methodology and capability to identify quality targets for exploration at St. Stephen. We look forward to the assay results for these drill holes and additional positive drill results from the rest of the program."\nContinental Nickel commenced the diamond drill program in early June to test various targets identified on the St. Stephen Project, including recently discovered, high conductance, EM anomalies at Triple J and Billy's Brook (see Abitex Press Release dated June 9, 2010). The 2010 exploration program was initially planned to complete up to eight drill holes, totaling approximately 1,500 metres. To date, five drill holes totaling 677 metres have been completed.\n\n\n >\n\n\nThe Triple J anomaly is located approximately 1.5 kilometres southwest of the Rogers Farm Deposit and is modeled as a high conductance EM anomaly with a strike length greater than 400 metres. Four drill holes (SSD10-001, 002, 004 and 005) have been completed to test the conductor along a 50 metre strike length to a vertical depth of approximately 125 metres. All of the holes have intersected multiple zones of variably disseminated to net...