LOWNA, BC, April 7 /CNW/ - Metalex Ventures Ltd (MTX - TSX Venture
Exchange)("Metalex" or the "Company").
The following diamond results, from processing of 190.49 kg of kimberlite
drill core from drill hole T1-4 drilled into the T1 kimberlite pipe at the T1
Project, Ontario, were received from CF Mineral Research Ltd today. A total of
243 natural diamonds were recovered and their size distribution and combined
weights in each size fraction is tabulated below:
<<
-------------------------------------------------------------------------
Sieve less than 0.106 to 0.15 to 0.212 to
Size (mm) 0.106 0.15 0.212 0.3
-------------------------------------------------------------------------
No. of diamonds 43 43 59 40
-------------------------------------------------------------------------
Weight (cts) 0.000154 0.000992 0.003401 0.007458
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Sieve 0.3 to 0.425 to 0.6 to 0.85 to
Size (mm) 0.425 0.6 0.85 1.18
-------------------------------------------------------------------------
No. of diamonds 29 17 7 5
-------------------------------------------------------------------------
Weight (cts) 0.014818 0.025062 0.023499 0.042859
-------------------------------------------------------------------------
This diamond result equates to 127 diamonds per 100 kg and is much higher
than the average of 19.4 diamonds per 100 kg reported in the press release of
February 8, 2006 from 1,745 kg of kimberlite and the value of 73 diamonds per
100 kg reported from 45 kg of kimberlite on June 17, 2005. Drill hole T1-4 was
drilled due north at an angle of 76 degrees to determine the northern boundary
of the T1 kimberlite pipe. It intersected kimberlite from 260 to 291 metres.
Two high chrome G10 ten and 8 other G10 peridotitic garnets were also
recovered along with numerous grains of diamond stability field chromite. This
result is consistent with the very positive mineral chemistry reported in the
February 8 press release. As stated in this release high chrome G10 - ten
peridotitic garnets are normally associated with kimberlite that contain high
diamond grades.
Earlier this year (January 18th and February 8th) the Company announced
that it was most encouraged by the quality and proportion (73.7%) of white
diamonds recovered from T1 and by the excellent mineral chemistry and that it
intended to collect and process a 200 tonne sample from T1 to determine the
diamond grade and indicative stone value. The Company is pleased to report
that this work is on schedule and that drilling the first of the 16 twenty
two cm (8.75 inches) diameter RC drill holes should commence on Sunday,
April 9th 2006. When the drilling is complete the +/- 200 tonne kimberlite
sample will be treated using a heavy medium coupled Sortex recovery plant
remote from site to recover contained diamonds.
The Company, and its partner Arctic Star Diamond Corp, are particularly
pleased with this most recent result and eagerly await the results from the
200 tonne sample.
Metalex's exploration projects are managed by Kel-Ex Development Ltd., a
company owned by Dr. Charles Fipke, the Chairman of Metalex. Dr. Peter
Gregory, the President of Metalex is a consultant to Kel-Ex. The arrangement
with Kel-Ex provides Metalex with access to the advanced proprietary databases
and interpretational techniques of Dr. Charles Fipke, an internationally
recognized diamond geologist. In return, Kel-Ex receives a 10% administration
fee and, in the case of the Canadian projects, a 10% interest in the project
carried to production. (Kel-Ex will repay its proportionate share of the costs
of mine development out of its share of mine profits). Dr. Fipke also owns the
CF Mineral Research laboratory where samples collected in the exploration
programs are analyzed. Dr. Peter Gregory, a Qualified Person, has verified
that the work carried out by Kel-Ex, manager and operator of the Company's
projects, is being carried out in a professional and diligent manner and that
the appropriate quality controls are in place. Dr. Gregory has also inspected
the CF Mineral Research laboratory and is satisfied that the work performed
there meets or exceeds international best practices; that the work is
performed on an arms length basis and in accordance with standard commercial
arms length terms; and that the results provided by CF Mineral Research are
accurate and reliable. On this basis the Company has not sought any
independent analyses. However, should significant diamond grades be discovered
the Company may seek independent verification of such results. Dr. Gregory has
prepared this press release.
Peter Gregory
President
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
>>
%SEDAR: 00008159E
