International Enexco Reports on the Mann Lake Uranium Project, Athabasca SK
September 09, 2013 (Source: Marketwire) — Highlights:
- 21 drill holes completed – 15,721 metres drilled
- Anomalous uranium encountered in several targets
- Further drilling planned for 2014 Winter Program
International Enexco Ltd. (TSX VENTURE:IEC)(OTCQX:IEXCF)(FRANKFURT:I6E) (the “Company” or “Enexco”). Further to the March 27, 2013 press release, Enexco is pleased to report positive results from the remainder of the 2013 drill program on the Mann Lake Uranium Project in the Athabasca Basin of Saskatchewan. A total of 15,721 metres were drilled in 21 holes under the direction of the project’s operator, Cameco Corporation (“Cameco”). Anomalous uranium was encountered in structural and stratigraphic targets across the property. In particular, encouraging unconformity alteration and weak mineralization was encountered in the northern portion of the property footwall to the western conductor with drill hole MN-047. Additional basement mineralization was also encountered directly north of Spring Lake in MN-036. A follow-up winter drill program is being discussed for 2014 by Enexco and its joint venture partners Cameco and AREVA.
Exploration on the Mann Lake property is focused on the C Conductor, a 6 km long section of a regional trend that extends from the MacArthur mine to the north to the Wheeler River deposit to the south. The C Conductor on the Mann Lake property consists of three geophysical conductors designated the East, Central and West conductors.
The 2013 program intersected anomalous basal sandstone uranium and boron levels in drill holes on all three conductors at widespread locations on the property. Significant uranium enrichment was encountered in MN-038 on the West conductor; in MN-035 and MN-047 footwall to the West Conductor; in MN-033 and MN-051 on the Central conductor; and, in MN-036, MN-041 and MN-043 on the East conductor, with uranium haloes reaching 2 ppm over 370 metres in MN-041 and 75 ppm over the basal 23 metres in MN-047. A map of drill hole locations is available on Enexco’s website.
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.
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About Mann Lake Uranium Project
The Mann Lake Uranium Project is located in the heart of what is indisputably the most prolific and highest grade uranium region in the world, the Athabasca Basin in Saskatchewan. The Project lies 25 kilometres southwest from Cameco’s McArthur River Mine and is 20 kilometres northeast of Cameco’s Millennium deposit. High-grade mineralization was intersected in drill hole MN-013 during the 2006 drill program. This drill hole intersected 7.12% U3O8 over 0.25 metres and 5.53% U3O8 over 0.4 metres in the basement, 12 metres beneath the Athabasca unconformity surface.
About International Enexco Ltd.
International Enexco Ltd is a North American exploration and development company focused on the feasibility stage 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.
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.
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