KELOWNA, BC, June 15 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX) ("Metalex") wishes to retract its news release of earlier today and is issuing this release with the intent that it supercede and replace the prior release. Metalex is pleased to report the completion of the fourth core hole and progress on the fifth hole drilled into the large (approximately 24 hectare) kimberlite discovery reported in the news release of April 1, 2009.
Hole four was drilled at the same site as the vertical hole 3 but inclined (-55 degrees) towards the first two core holes located 283 meters distant at a bearing of 158 degrees. Hole 4 intersected diatreme facies kimberlite at 6 meters until 227 meters where it entered probable crater infill sandstone. From 245 meters to 284 meters an alternating sequence of fine grained magmatic kimberlite and probable crater infill siltstones was intersected. From 284 meters to the end of hole at 359 meters probable crater infill sandstone was intersected.
Hole 5 is located 524 meters south, south east at a bearing of 158 degrees from hole 4. From this location the drill was inclined -50 degrees at a bearing of 338 degrees towards hole 4. Drilling intersected possibly crater infill derived sandstone until 179 meters where kimberlite breccia was intersected. The kimberlite breccia continued to 254 meters where fine grained magmatic kimberlite was intersected through to 289 meters. Drilling continues in probable crater infill sandstone at 382 meters.
Core from the first holes is in Luanda where it has now been approved for export and is scheduled to depart via air cargo for Canada on Tuesday June 16th, 2009. Upon arrival the core will be processed for diamonds and diamond indicator minerals at CF Mineral Research Ltd.
Metalex is pleased that the drilling of holes over 500 meters apart has intersected kimberlite. This drilling confirms the large size of the kimberlite.
Dr. Charles Fipke, a qualified person, is responsible for the technical content of this release.
"Chad Ulansky" Chad Ulansky, President & CEO (250) 860-8599 investorinfo@metalexventures.ca Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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