KELOWNA, BC, June 22 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX) ("Metalex") is pleased to report new results of analytical work recently completed on drill core from the Metalex-Arctic Star Diamond Corp.-Big Red Diamond Corp. claims situated about 7 kilometers south of the Victor Diamond Mine, James Bay Lowlands, Ontario. These results are from nine shallow vertical drill holes, which intersected an average of 6-8 meters of glacial overburden, followed by approximately by 25 meters of material interpreted as tuffaceous kimberlite breccia. In each drill hole, these zones were followed at depth by intersections of limestone.
Core recovery of this tuffaceous kimberlitic material was poor, with the nine intersections each weighing between 4.4 and 14.6 kilograms. These samples also contained abundant limestone fragments.
Varying quantities of kimberlite indicator minerals ("KIM") including olivines, chrome diopsides, Group 1 eclogitic garnets and chromites were recovered in test work done on these samples by CF Mineral Research Ltd. of Kelowna, British Columbia. Many of these KIM grains have compositions equivalent to those found as inclusions in diamonds. Significant amounts of other KIM, including titanium chromites, pyrope garnets, kimberlitic chromites, and picroilmenites were also present in eight of the nine kimberlitic intersections.
These new results indicate that eight of the nine intersections are indeed kimberlite, and that those drill holes have likely intersected the margins or upper levels of buried kimberlite intrusive complexes.
The concentrates of heavy minerals from these intersections are presently undergoing diamond recovery tests. Due to the small sizes of these samples however, and the relatively low diamond content of known local kimberlites (including those from the nearby Victor Diamond Mine), it is difficult to predict if any diamonds will be recovered. For this reason larger samples will have to be collected to assess the diamond content, quality and size distribution. New and larger samples are planned to be collected and tested.
These new data are regarded as very encouraging. They indicate that a new group of previously unconfirmed kimberlites have been discovered in the area. A reassessment of other drill holes which intersected similar material is currently underway. An additional 13 possible kimberlite intersections from 13 separate drill holes have now been selected for KIM and diamond recovery tests. New results will be reported when available.
The drilling information and results reported here have been reviewed Mr. A. Lee Barker P.Eng, P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.
For Further Information Please Contact: "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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