| | | PRESS RELEASE Abitex and Azimut report encouraging uranium results on the Kangiq property, Nunavik, Quebec | | | | |
Val-d'Or, Quebec, Canada, 24 February, 2009 - Abitex Resources Inc. (TSX-V: ABE) ("Abitex") and its partner Azimut Exploration Inc. (TSX-V: AZM) ("Azimut") report encouraging results following the 2008 first reconnaissance program performed on the Kangiq property in Nunavik, Quebec. Several uranium prospects, with grades up to 0.94% U3O8, have been identified, including the extension on the property of the Puqila Zone outlined on the adjacent Daniel Lake property. These results further confirm the large-scale uranium mineralized system discovered in 2006 in the region. The potential for additional discoveries is clearly supported by the uranium airborne footprint identified during surveys covering the property. Work performed in 2008 comprised: - Surface rock sampling and prospecting of the western half of the property: 149 grab samples - Mapping of the Puqila Zone - 3,048 line-km of helicopter-borne spectrometric and magnetic surveying: The 2008 program led to an improved understanding of the regional-scale geological features controlling the distribution of the uranium mineralization. On the property, many unexplored uranium airborne targets in the three geological settings defined below, indicate a considerable exploration upside: (a) Geological contact between the Archean basement and Proterozoic metasedimentary rocks. This type of setting is considered highly prospective for uranium on a worldwide basis. In the region, this favourable geological contact is being explored along a 70 km continuous strike length. (b) Regional-scale late northwest-trending faults hosted in the Archean basement. (c) Favourable lithologies within the Proterozoic metasedimentary package of the Lake Harbour Group. Reduced facies and carbonates represent high priority targets that have been subject to very limited exploration to date. The eastern part of the Kangiq property covers a large portion of the Lake Harbour metasediments. Areva's Cage property discovery in the same region is reportedly associated with Proterozoic metasediments and carbonates in particular. Areva has a large claim block adjoining the Kangiq property's eastern boundary. The 149 grab rock samples collected to date at Kangiq indicate an average uranium value of 460 ppm U3O8 (or 0.046%) for all samples, including 78 unmineralized or weakly mineralized samples, 927 ppm U3O8 (or 0.093%) for the 71 samples grading at least 100 ppm U3O8, and 1,350 ppm U3O8 (or 0.13%) for the 45 samples grading at least 200 ppm U3O8. Corresponding U/Th ratios are 1.6, 2.3, and 2.9 respectively. In general, higher uranium values are associated with an enrichment of uranium relative to thorium. The reported average uranium values and U/Th ratios, determined through surface grab sampling, are preliminary and of an indicative nature only. Uranium-bearing rock samples are spatially correlated to multi-kilometre helicopter-borne radiometric anomalies and lake-bottom sediment anomalies. Uranium results are as follows: ? 24 samples with values above 0.05% U3O8, including: 0.94% U3O8, 0.51% U3O8; 0.49% U3O8, 0.44% U3O8, 0.42% U3O8, 0.39% U3O8, 0.36% U3O8, 0.24% U3O8, 0.20% U3O8, 0.20% U3O8, 0.18% U3O8, and 0.15 %U3O8. ? 53 samples with values between 0.01 % and 0.05 % U3O8; ? 72 samples with values less than 0.01% U3O8. The U/Th ratios for 12 samples above 0.1% U3O8 range from 2 to 10. Most mineralized facies are hosted in biotite-rich pegmatitic dykes. Data interpretation for both properties is nearly complete and will be used to define the 2009 field program. Fieldwork was conducted by IOS Services G?oscientifiques Inc. of Saguenay, Quebec. All rock samples were assayed at the Saskatchewan Research Council laboratory in Saskatoon, an ISO-IEC 17025 accredited facility. The helicopter-borne geophysical survey was performed by G?ophysique GPR International Inc., based in Longueuil, Quebec. Azimut was the operator of the 2008 exploration program. Abitex has an option to earn a 50% interest on the property from Azimut and an additional 15% interest upon the delivery of a bankable feasibility study. The Kangiq property consists of a total of 1,743 claims covering 788 km2. The content of this press release was approved by geologist Yves Rougerie acting as Abitex's Qualified Person under NI 43-101. Abitex is an exploration and development company based in Val d'Or, Quebec, which is currently focused on the definition drilling of the "L" uranium deposit in Quebec's Otish Mountains region and the ongoing acquisition of advanced exploration or near-term production uranium assets. Contact and information Yves Rougerie, President and CEO Tel.: (819) 874-6200 - Fax.: (819) 874-6202 info@abitex.ca _________ The TSX Venture Exchange (TSX-V) does not accept responsibility for the adequacy or accuracy of this release. |