KELOWNA, BC, March 29 /CNW/ - Metalex Ventures Ltd (MTX - TSX Venture Exchange) ("Metalex" or the "Company").
Awsserd Metal Results
The Company is pleased to announce metal results from reconnaissance samples collected over its Awsserd exploration license in Morocco. A total of 696 samples were collected over the 11,293 km(2) license area.
These results have identified numerous sites anomalous in various sympathetic element associations. Sympathetic elements are important as these associations are commonly found in economic mineral deposits. The anomalous samples are summarized in the following table:
------------------------------------------------------------------------- Anomalous Elements Number of Anomalous Samples ------------------------------------------------------------------------- Nickel + Copper +/- Cobalt +/- Zinc 8 ------------------------------------------------------------------------- Copper +/- Cobalt 4 ------------------------------------------------------------------------- Zinc +/- Nickel +/- Lead 15 ------------------------------------------------------------------------- Lead 1 ------------------------------------------------------------------------- Gold 10 ------------------------------------------------------------------------- Uranium 3 -------------------------------------------------------------------------
These anomalies are in addition to those located on the 13,514 km(2) Tichla exploration license announced in a news release on June 27, 2006. 232 follow-up samples for base and precious metals have been collected on the Tichla license and are currently being processed at the CF Mineral Research Ltd laboratory.
Awsserd Diamond Samples
640 samples have been collected from the Awsserd license to follow-up the high priority diamond indicator minerals found in the reconnaissance sampling. The reconnaissance samples outlined what appears to be an area of previously undiscovered kimberlites. The kimberlites potentially have high diamond grade as evidenced by one of the reconnaissance samples containing three G10 garnets including a very high quality G10-9 (see press release dated June 27, 2006).
Metalex is most encouraged by the potential of both the diamond and metal results as they occur in Archaean rocks which have never been explored. A work program has been designed to find the source mineralization of these anomalous samples. Within 2007 follow up geochemical sampling, airborne geophysics, prospecting and rock sampling are planned. This work is expected to commence in late April.
Certain Metalex exploration projects are managed by Kel-Ex Development Ltd., a company owned by Dr. Charles Fipke an internationally recognized diamond geologist. Dr Fipke is the Chairman of Metalex. Kel-Ex provides Metalex with access to its advanced proprietary databases and interpretational techniques. In return Kel-Ex receives a 10% administration fee on certain projects to cover costs and, in the case of Canadian projects, a 10% interest in certain projects carried to production. Dr. Fipke also owns the CF Mineral Research laboratory where samples collected in the exploration programs are analyzed.
Dr. Charles Fipke, a Qualified Person, is responsible for the technical content of this release.
(signed)
Chad Ulansky
President.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
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