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2007 Hornby Bay Basin Exploration Completed
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Vancouver, BC - Triex Minerals Corporation (TXM-TSX.V) ("Triex") and
Pitchstone Exploration Ltd. (PXP-TSX.V) announce the completion of
their $2.4 million Hornby Bay Basin exploration program for 2007.
Complete results will be released in the fall when all analytical data
is in hand.
The 50:50 joint venture (the "Joint Venture"), with Triex as operator,
is actively exploring four properties in the Hornby Bay Basin,
including the Mountain Lake uranium deposit located 100 kilometres
southwest of the coastal community of Kugluktuk, Nunavut. Total Joint
Venture land holdings cover approximately 221,000 hectares. Location
maps for the Mountain Lake, Dismal Lakes, Kendall River and Sandy Creek
properties are available on the company's website
(www.triexminerals.com).
Eleven diamond drill holes were completed during the 2007 program for a
total of 2,818m. All drill holes were radiometrically probed with a
Mount Sopris 2PGA-1000 poly-gamma probe. Three holes at the northern
end of the Mountain Lake deposit intersected thin and weak zones of
radioactivity and have effectively delineated the northern margin of
the deposit. Eight holes were completed on two targets on the Dismal
Lakes property. No continuous zones of significant radioactivity were
intersected. More drilling is required to complete testing of the
eastern-most target at Dismal Lake. Further targets on the Mountain
Lake property (Helmut River and Jenny Lake) have yet to be drill
tested.
The Mountain Lake deposit contains the only identified uranium resource
in the Hornby Bay Basin (Inferred Mineral Resource of 8.2 million
pounds U3O8, with an average grade of 0.23% U3O8 contained in 1.6
million tonnes of rock (see NI 43-101 Technical Report on SEDAR).
Data from the 2007 surface exploration will both refine existing drill
targets, and potentially identify new ones with focus on three fields
of radioactive sandstone boulders for which the sources of have yet to
be identified. The boulder uranium content from these fields is similar
to those spatially associated with the Mountain Lake deposit (see News
Release dated April 26, 2007). Work in 2007 included:
- 375 line-kilometres of ground-based resistivity surveys over parts of
the Kendall River, Mountain Lake and Dismal Lakes properties.
- Regional scintillometer prospecting and soil sampling on one
kilometre spaced lines over most of the Kendall River, Dismal Lake and
Mountain Lake properties, and parts of the Sandy Creek property. A
total of 177 mandays were spent prospecting and collecting 3,659 soil
samples. All samples have been shipped to the Saskatchewan Research
Council for analysis. Data are not expected until October.
-Preliminary uranium extraction studies have been completed on a
composite core sample from the Mountain Lake deposit.
Allan Armitage, Ph.D., P.Geol., is a Qualified Person as defined by
National Instrument 43-101, and is responsible for program design and
quality control of exploration undertaken by the Joint Venture in the
Hornby Basin. This release has been reviewed by Dr. Michael Gunning,
Ph.D., P.Geo., President of Triex and a Qualified Person as defined by
National Instrument 43- 101.
Triex is a Canadian junior mineral exploration company focused on
uranium opportunities in North America. The company is working in three
proven districts, advancing nine core projects which span grass roots
reconnaissance exploration to advanced-stage resource delineation. The
2007 exploration budget is $8.7 million.
TRIEX MINERALS CORPORATION
"Michael Gunning"
Michael Gunning, President
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release.
650 West Georgia Street, Suite 1410, Vancouver, British Columbia V6B
4N8 Telephone: 604-687-6680 Facsimile: 604-687-1448
www.triexminerals.com
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Copyright (c) 2007 TRIEX MINERALS CORPORATION (TXM) All rights
reserved. For more information visit our website at
http://www.triexminerals.com/ or send mailto:info@triexminerals.com
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