EDMONTON, ALBERTA--(Marketwire - March 9, 2011) - Micrex Development Corp. (News - Market indicators) announces assay results from the St. Charles Québec Magnetite/Rare Earth/Titanium/Apatite/Vanadium deposit.
A large international fertilizer producer has conducted in house assays on P2O5 (phosphate) of several drill cores, as follows.
From these whole rock analysis, and assuming approximately 40% P2O5 , an apatite content of 22% is calculated, at 85% BPL. These assays increase confidence on historical drilling and testing results which yielded 10% to15% P2O5 over a 60 metres section. Apatite is used by the fertilizer industry for the production of phosphoric acid and superphosphate.
Mr. S.E. Marshall, President and CEO, states "we are very encouraged with these results... The BPL running at 85% is one of the highest in the industry and confirms our belief in that the property characteristics are suitable for a variety of end users".
BPL (Bone Phosphate of lime) is a reference to the amount (by weight percentage) of calcium phosphate in an ore body
Apatite concentrates also assayed a total rare-earths content of 2,600 parts per million (ppm) and 2,800ppm (0.26% and 0.28%). The rare earth elements are dominated by lights rare-earths plus yttrium. Rare earth elements, contained in apatite, would be recovered as by-product.
As previously announced, assays of ilmenite concentrates, carried in-house by a titanium producer, indicated a titanium dioxide (TiO2) of 45.13%. This suggest stoechiometric ilmenite, suitable for pseudorutile production, rather than the less valuable although more common hemoilmenite. Iron (Fe2O3) content was assayed at 57.44% , and vanadium oxide (V2O5) up to 0.42%.
Although the Company considers the historical assay results and pilot plant test to be reliable, readers are cautioned that a report that would meet current NI 43-101 Standards that documents and confirms these historic results has not been constructed.
Micrex Development Corp. (News - Market indicators) is a mineral exploration company based in Alberta, Canada with mining properties in North America. Visit www.mixcorp.com for further details. Current focus is on the St. Charles de Bourget magnetite / rare earth property in Québec.
This press release has been reviewed by M. Réjean Girard, geologist and head director of IOS Services Géoscientifiques Inc. and the Company's Qualified Person for this project under the meaning of NI 43-101.
MICREX DEVELOPMENT CORP.
Burmis Magnetite/Titanium Property - St. Charles de Bourget Magnetite/Titanium Property - Fort Steel Placer Property - Bighorn Gold Mine - Banks Gold Mine - Mount Royal Gold Mine - Deadwood Gold Mine - Sunburst Gold Property
FORWARD LOOKING STATEMENTS
Certain statements in this news release are "forward-looking statements", which reflect management's expectations regarding its property and business operations. All statements other than statements of historical fact contained in this news release are forward-looking statements. Such forward-looking statements involve risks and uncertainties, as they reflect management's current beliefs and are based on information currently available to management. Actual results may differ materially from those anticipated in the statements made. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and Micrex assumes no obligation to update or revise them to reflect new events or circumstances except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by Micrex with the securities regulatory authorities, available at www.sedar.com.
SEC 12 g (3) Exemption 82-4281
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
