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Share Name | Share Symbol | Market | Type |
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Triex Minerals Corp Com Npv | TSXV:TXM | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Triex Minerals Corporation (TSX VENTURE:TXM) ("Triex" or the "Company") and Pitchstone Exploration Ltd. (TSX VENTURE:PXP) ("Pitchstone"), under a 50:50 joint venture, have completed their 2008 exploration program on the Mountain Lake, Dismal Lake and Kendall River properties in the Hornby Bay Basin, Nunavut. The programs were mainly drilling, with ground resistivity surveys completed on the Mountain Lake and Dismal Lake properties to extend previously existing grids (the "Joint Venture"). The 2008 program included 13 diamond drill holes completed for a total of 3,172 metres. Four holes were completed at Jenny Lake, to follow-up a radioactive zone intersected in 2007. Three holes were completed in the Helmut fault area, along strike to the northwest of Jenny Lake. Three holes were completed at Dismal Lakes, to infill between target areas drilled in 2007. Three holes were completed at Kendall River on a previously untested occurrence of radioactive boulders. The target stratigraphy was intersected in each hole. All drill holes were radiometrically probed using a down-hole Mount Sopris 2PGA-1000 poly-gamma probe, but no new zones of significant and continuously anomalous radioactivity were encountered. Analytical results from geochemical samples of core are pending. Samples are being processed at the Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon. A partial digestion preparation and fluorimetric XRF analysis will be used, with a check by total digestion preparation and ICP analytical finish. Planning for the 2009 exploration programs will commence once all data is received, interpreted, and integrated into the existing project information systems. The Joint Venture will evaluate both established target areas with known mineralization, and new areas in the basin. The Joint Venture is actively exploring four main properties in the basin, including the Mountain Lake uranium deposit located approximately 100 kilometres southwest of the coastal community of Kugluktuk. Property details, including location maps, are available on the Company's website at www.triexminerals.com. Current holdings include 68 claims which cover 63,751 hectares. The Mountain Lake deposit contains the only identified uranium resource in the Hornby Bay Basin (Inferred Mineral Resource of 8.2 million pounds U3O8, with an average grade of 0.23% U3O8 contained in 1.6 million tonnes of rock; see NI 43-101 Technical Report on SEDAR). The tabular, stratabound deposit is within 20 metres of surface at its southwestern end and dips less than ten degrees to the northeast. Triex is the Operator of the Joint Venture. Dr. Allan Armitage, Ph.D., P.Geo., Vice President - Exploration of Triex, is a Qualified Person as defined by National Instrument 43-101, is responsible for program design and quality control of exploration undertaken by the Company. This release has been reviewed by Dr. Michael Gunning, Ph.D., P.Geo., President of Triex and a Qualified Person as defined by National Instrument 43-101. Triex Minerals Corporation is a Canadian junior mineral exploration company currently focused on uranium opportunities in three proven districts across North America. The 2008 exploration budget of $6.4 million is directed mostly towards drilling on five different projects, including four in the Athabasca Basin. TRIEX MINERALS CORPORATION Michael Gunning, President
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