International Enexco Commences $2.9 Million Drill Program on the Man Lake
Uranium Project, Athabasca SK
- 13,000 Metre Diamond Drill Program Underway
- 3 Drill Rigs
- 18 Drill Holes
- Partnered with Cameco and AREVA
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/27/14 --
International Enexco Limited (TSX
VENTURE:IEC)(OTCQX:IEXCF)(FRANKFURT:I6E) (the "Company" or "Enexco")
is pleased to announce that the proposed 13,000 metre (42,650 feet)
diamond drill program on the Mann Lake Uranium project has commenced
under the direction of project operator, Cameco Corporation
("Cameco"). The budget for the 2014 program is CDN$2,900,000 with
Enexco's portion being CDN$870,000.
The 2014 winter drill program will include up to 18 diamond drill
holes evaluating three types of targets; a preliminary evaluation of
the area footwall to the western axis of the C trend, the initial
evaluation of the conductive features near the western margin of the
Wollaston sedimentary corridor and the completion of the systematic
evaluation of the remaining targets along the main C trend. The drill
program will be carried out in coordination with Cameco's drill
programs planned on adjacent projects.
The Mann Lake 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 0.25m and 5.53% U308 over
0.4m at depths of just over 500m.
William Willoughby, Ph.D., P.E. is the Company's Qualified Person for
the purposes of National Instrument 43-101 and has prepared or
supervised the preparation of the disclosure of any scientific and
technical information contained in this news release.
About International Enexco Limited
International Enexco Limited 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,
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
Press spacebar to pause and continue. Press esc to stop.