International Enexco Announces $2.9 Million Drill Program on the Mann Lake
Uranium Project, Athabasca Basin, SK
- 13,000 Metre Diamond Drill Program
- 18 Drill holes
- Drill Program to Commence in January 2014
- Partnered with Cameco and AREVA
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/13/13 --
International Enexco Ltd. (TSX
VENTURE:IEC)(OTCQX:IEXCF)(FRANKFURT:IE6) (the "Company" or "Enexco")
is pleased to announce that the 2014 Mann Lake exploration drill
program will begin January 2014. Cameco Corporation (TSX:CCO) is the
project operator. The proposed budget for the 2014 program will be
CDN$2,900,000 with Enexco's portion being CDN$870,000.
The 2014 drill program will consist of up to 18 diamond drill holes
and will evaluate three types of targets; a preliminary evaluation of
the area footwall to the western axis of the C trend, the completion
of the systematic evaluation of the remaining targets along the main
C trend and the preliminary evaluation of the conductive features
near the western margin of the Wollaston sedimentary corridor. The
2014 drill program will be carried out in coordination with Cameco's
drill programs planned on adjacent projects.
The Mann Lake Uranium project is located in the heart of what is
undisputedly the most prolific and highest grade uranium region in
the world, the Athabasca Basin in Saskatchewan. Mann Lake is 25 km
southwest of Cameco's McArthur River Mine and is 20 km northeast of
Cameco's Millennium deposit. High-grade basement-hosted uranium
mineralization was discovered at Mann Lake during a 2006 drill
program. The two highest grade intervals are 7.12% U308 over 0.25 m
and 5.53% U308 over 0.4 m at depths of just over 500 m.
"We are very pleased with the continued enthusiasm our joint venture
partners have shown on Mann Lake and are approaching the 2014 program
with great expectations," commented Arnold Armstrong, President &
Enexco is a 30% partner in a joint-venture with Cameco (52.5%) and
AREVA (17.5%) to explore the Mann Lake Uranium project in the
Athabasca Basin in Saskatchewan.
About International Enexco Ltd.
International Enexco Ltd is a North American exploration and
development company focused on the feasibility stage, 100% owned,
Contact Copper project in northern Nevada and the Mann Lake and
Bachman Lake Uranium projects located in Saskatchewan's prolific
Athabasca Basin. The Mann Lake project is a joint venture with Cameco
(52.5%) as operator, Enexco (30%) and AREVA (17.5%)-two of the
world's largest uranium companies. The Bachman Lake project is a
joint venture with Denison (80%) as operator and Enexco (20%).
On behalf of the Board of Directors, I look forward to keeping you
updated with our corporate developments.
G. Arnold Armstrong, President & CEO
Certain information regarding the Company including management's
assessment of future plans and operations, may constitute
forward-looking statements under applicable securities laws and
necessarily involve risks associated with mining exploration and
development, volatility of prices, currency fluctuations, imprecision
of resource estimates, environmental and permitting risks, access to
labour and services, competition from other companies and ability to
access sufficient capital. As a consequence, actual results may
differ materially from those anticipated in the forward-looking
statements. A feasibility study has not been completed and there is
no certainty the disclosed targets will be reached nor that the
proposed operations will be economically viable. The TSX Venture
Exchange or its Regulation Services Provider have not reviewed and do
not accept responsibility for the adequacy or accuracy of the
contents of this news release, which has been prepared by management.
We seek safe harbour.
International Enexco Limited
+1 604 669 8368
+1 604 662 3691 (FAX)
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