NAMEX EXPLORATIONS
INC.
PRESS RELEASE
Montreal,
December 20, 2007
TSX Venture Exchange: NME
Huffman Property Up
Date
Namex is pleased to announce that the
assay results from the 144 channel samples cut from the bedrock in the stripped
area at the Huffman Lake project have defined a 200 metre long and up to 40
metres wide gold bearing zone trending east-southeast, approximately coincident
with last year's defined MMI anomalies.
While the results do not show a zone of economic grade mineralization,
a
zone of anomalous to sub-economic gold mineralization hosted in an extensively
fractured and silicified feldspar porphyry intrusive has been identified. Gold values in the better grade central
zone range from 200 ppb (0.20 grams/tonne) to 1350 ppb (1.34 grams/tonne). Silver values range from 1 ppm (1.0
gram/tonne) to 5 ppm (5 grams/tonne) or greater. The zone appears to die out to the west,
however it is open to the east.
The rock is pervasively mineralized with
fine, fracture controlled pyrite.
It is considered that the gold mineralization is associated with this
fine pyrite. However, there is a
narrow quartz zone +/- 15 cm. (6"), cutting along the central strike of the
porphyry, which carries small amounts of a fine grained blue-grey metallic
mineral that has been identified as tetrahedrite, a copper, iron, zinc, antimony
sulphide usually found in hydrothermal deposits. This mineral or associated minerals
would account for the high silver and gold values recorded from the earlier
taken grab samples. The highest
grades obtained from grab samples taken from this zone were, 54.2 g/t gold, 1620
g/t silver, 8.63% copper, 12.6% lead, 2.3% zinc, and 5.9% antimony. (See press release of November 14,
2006). At this stage of exploration
our knowledge of this high grade zone is not adequate to equate into any
calculations of potential over all grade.
Also associated with this mineralization
are other minerals typical of hydrothermal deposition, these being, anglesite,
a
lead sulphate, ankerite, a multi-element carbonate mineral as well as anomalous
amounts of mercury. It is generally
held that many ore bodies are deposits from hydrothermal origin. The temperatures and pressures at which
a hydrothermal ore body is deposited controls the form and mineralogy of the
deposit therefore it is important to determine, what zonal arrangements may
appear at depth. Results of further
drilling and sampling will determine whether this form of deposition will
increase in volume at depth on the Huffman property.
Two shallow diamond drill holes have been
drilled on the Huffman property.
The first hole was a vertical one drilled for informational purposes to
about 90 m to ascertain what, if any, mineralogical changes at depth can be
determined. The second hole was
an
angle hole drilled to intersect the high grade feature identified on
surface. A narrow 10 cm intersect
was obtained at 90 m, which showed some of the tetrahedrite mineralization. Both holes have been split and sampled
in their entirety and assay results are pending. Onset of winter conditions precluded
further drilling, with the equipment on hand.
A further 287 MMI samples were taken to
the east-north east of the mineralized trend. The samples were submitted to the SGS
laboratory in Toronto.
Once all the results are received, they will be interpreted by Dr. Mark
Fedikow.
Since it appears that the gold is
associated with the fine grained pyrite, it is considered that IP (induced
polarization) surveys should be effective in outlining areas of disseminated
pyrite and gold. Any IP anomalies
with significant chargeabilities i.e., higher pyrite contents, could be
considered for testing by stripping or drilling. An IP survey is planned for the New
Year.
Assay results from the two drill holes,
results from the MMI survey and a progress report on Namex's other three
Ontario
properties will be forthcoming.
Namex is fortunate in that it has been
able to arrange, on a part time basis, the expertise of Mr. Stewart Winter of
Winterbourne Explorations Ltd.
Aside from thorough familiarity with the Sudbury camp, Mr. Winter has
decades of international multi-faceted experience with numerous types of mineral
deposits such as that which we encounter presently at the Huffman Lake property. Such diverse experience will provide
much additional help to Namex as its acquisitions spread outside the more
familiar Sudbury
region.
Oliver T. Maki is the qualified person
overseeing the Namex exploration programs and has approved this press
release.
For
further information, contact:
James
W. Hess, President
4333
Ste. Catherine St. West, Suite #610
Montreal,
Qu�bec H3Z 1P9 Canada
Tel:
(514) 935-2445 Fax (514) 935-8161
E-mail:
info@otmining.com Web site: http://namex-explorations.com
The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of this news
release. This release was prepared by the Company's management who take
full responsibility for its contents. Some statements contained in this
release are forward-looking and, therefore, involve uncertainties or risks that
could cause actual results to differ materially. The company disclaims
any
obligation to update forward-looking statements.