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 18, 2008
Micrex
reports first results from drilling at Deadwood
Micrex
Development Corp. announced today that it has received data from the 2007 drill
program at the Deadwood/Sunburst Project, located in New Mexico.
Mountain Rio Resources Inc., Micrex’s Joint Venture partner, have reported that
they have completed one drill hole of a planned six hole program. Their work
faced significant delays due to the current exploration boom. Difficulty in
obtaining a driller and significant delays at assay labs had hampered efforts.
Despite the challenges the results from this first hole are considered
significant.
According to historical reports prior to the mine being shut down during World
War 2, the property hosts a vein type gold / silver deposit with average grades
of 0.127 oz gold and 6.96 oz. silver per ton. Records on file with the State of
New Mexico, show stope widths of over 20 feet in some places. Further, the
historical data reports two other parallel vein systems were intersected during
mining, but were never developed.
This first hole completed during 2007 was drilled to a total depth of 189.28 m,
with an orientation of 268�/-80�.. The interval from 122.83 to 188.21 , which
totals 65.36 m is considered mineralized. The estimated true width of that zone
is 35 m, with average grades of 28.19 grams/tonne silver and 0.49 grams/tonne
gold.
|
MINERALIZED
INTERVALS FROM DW07-01 (DEADWOOD, NEW MEXICO)
|
|
Interval
|
From (m)
|
To (m)
|
Apparent
Thickness (m)
|
True
Thickness (m)
|
Average
Ag (g/tonne)
|
Average
Au (g/tonne)
|
|
1
|
122.83
|
123.75
|
0.92
|
0.49
|
121.02
|
2.60
|
|
2
|
126.49
|
127.41
|
0.92
|
0.49
|
53.87
|
1.43
|
|
3
|
134.11
|
135.03
|
0.92
|
0.49
|
34.87
|
0.67
|
|
4
|
138.02
|
140.36
|
2.34
|
1.25
|
21.32
|
0.26
|
|
5
|
142.04
|
153.92
|
11.88
|
6.36
|
44.24
|
0.88
|
|
6
|
157.58
|
167.03
|
9.45
|
5.06
|
33.59
|
0.60
|
|
7
|
171.30
|
178.00
|
6.70
|
3.59
|
42.95
|
0.78
|
|
8
|
182.73
|
183.64
|
0.91
|
0.49
|
97.67
|
0.78
|
|
9
|
185.83
|
188.21
|
2.38
|
1.27
|
89.97
|
1.12
|
|
SUMMARY
|
122.83
|
188.21
|
65.38
|
35.00
|
28.19
|
0.49
|
Significant mineralized intercepts are as follows:
Intersect 1 – 121.02 grams/tonne silver and 2.60 grams/tonne gold across
estimated true width of 0.49 metres.
Intersect 2 – 53.87 grams/tonne silver and 1.43 grams/tonne gold across
estimated true width of 0.49 metres.
Intersect 5 – 44.24 grams/tonne silver and 0.88 grams/tonne gold across
estimated true width of 6.36 metres.
Intersect 9 – 89.97 grams/tonne silver and 1.12 grams/tonne gold across
estimated true width of 1.27 metres.
The results of the first hole are considered encouraging. The drill program,
which was designed to evaluate the length of the historic mineralization, needs
to be completed in order to confirm continuity. In addition, three historic
vein systems were reported, while the mineralized drill intercept in the first
hole was significantly wider than anticipated. The hole was terminated at
189.28 m due to mechanical difficulties; hence, the zone is likely wider than
that reported herein. Given the grades and thicknesses intercepted in this
hole, the companies believe that the system has the potential for a large
tonnage precious-metal system.
Based on the angle and depth of the drilling, the hole intersected and
confirmed the existence of mineralization below the known workings at the
Deadwood Mine. Thus, the mineralization remains open at depth. Neighboring
properties have similar potential for a mineralized vein system, and Micrex
suspects the Sunburst, and adjacent claims, also owned by Micrex, may offer the
same opportunity.
Jody Dahrouge of Dahrouge Geological Consulting Ltd. is the qualified person
for this project and has reviewed this press release.
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.
Peace
River Diamond Property • 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
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND
DOES NOT ACCEPT 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.