MICREX DEVELOPMENT CORP.
A mineral exploration and development company operating in Canada and the United States
TSX Venture Exchange symbol "MIX"
SEC 12 g (3) Exemption 82-4281
For immediate release
March 9, 2011
Rare Earth Mineral Results from St. Charles Qu�bec Deposit
Micrex Development Corp. (TSX VENTURE:MIX) announces assay results from the St. Charles Qu�bec 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.
|
Sample No. |
|
Hole No. |
|
Interval |
|
P2O5 |
% |
|
Fe2O3 |
% |
|
TiO2 |
% |
|
1 |
|
99-07 4 |
|
5 m |
|
9.22 |
|
|
47.86 |
|
|
16.54 |
|
|
2 |
|
99-07 5 |
|
6 m |
|
10.37 |
|
|
41.56 |
|
|
11.66 |
|
|
3 |
|
99-07 6 |
|
7 m |
|
10.02 |
|
|
44.78 |
|
|
14.61 |
|
|
4 |
|
99-07 8 |
|
9 m |
|
9.79 |
|
|
46.81 |
|
|
15.76 |
|
|
5 |
|
99-07 11 |
|
13 m |
|
7.91 |
|
|
43.21 |
|
|
13.79 |
|
|
6 |
|
99-07 14 |
|
15 m |
|
8.67 |
|
|
44.49 |
|
|
14.86 |
|
|
7 |
|
99-07 15 |
|
16 m |
|
7.05 |
|
|
41.59 |
|
|
13.50 |
|
|
8 |
|
99-04 3 |
|
5 m |
|
9.68 |
|
|
49.99 |
|
|
17.61 |
|
|
9 |
|
99-05 7 |
|
13 m |
|
9.64 |
|
|
48.80 |
|
|
16.74 |
|
|
10 |
|
99-05 13 |
|
16 m |
|
8.54 |
|
|
44.29 |
|
|
12.59 |
|
|
Average |
|
|
|
|
|
9.09 |
|
|
45.34 |
|
|
14.77 |
|
From these whole rock analyses, 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 light rare earths plus yttrium. Rare earth elements, contained in apatite, would be recovered as by-product.
As previously announced, assays of ilmenite concentrates, carried out in-house by a titanium producer, indicated a titanium dioxide (TiO2) content 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. (TSX VENTURE:MIX) 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 Qu�bec.
This press release has been reviewed by M. R�jean Girard, geologist and head director of IOS Services G�oscientifiques Inc. and the Company's Qualified Person for this project under the meaning of NI 43-101.
Further information may be obtained from Perry Meszaros or S.E. Marshall at (780) 448-0922
or email at mixinfo-1@mixcorp.com
Web site address: www.mixcorp.com
MICREX DEVELOPMENT CORP.
Burmis Magnetite/Titanium Property . St. Charles de Bourget Magnetite/Titanium/Rare Earth Property . Fort Steel Placer Property . Bighorn Gold Mine . Banks Gold Mine . Mount Royal Gold Mine . Deadwood Gold Mine . Sunburst Gold Property
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.
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.