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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Micrex Development Corp | TSXV:MIX | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
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Micrex Development Corp. (TSX VENTURE:MIX) is pleased to announce it has
completed the last 5 holes which were added to the initial 14-hole campaign and
aimed to test the northward and southward extension of the "Grand Saguenay"
apatite-ilmenite bearing magnetite mineralization. The program thus totals 19
holes for 3185.1 metres on the wholly-owned St Charles magnetite project.
Table 1 presents a summary of mineralized intersections from the 19 holes. The
location of the holes is presented in map 1. The holes SB-11-17, SB-12-18 and
SB-12-19, recently completed, intersected the northern extension of the
magnetite layer and confirmed the existence of a second layer, between 5 to 10
metres thick, less than 100m west of the main body. The mineralization remains
open laterally to the north and at depth.
494 core samples, typically 3 metres in length, were cut with a diamond saw and
shipped to ALS-Minerals, an ISO-17025 accredited laboratory. The samples are
being assayed for iron, titanium and phosphorous using the X-Ray Fluorescence
(XRF) method. Also, 320 of these samples are currently being processed in the
IOS laboratory for magnetite recovery by Davis tube testing and density
measurement. Upon receipt of assay results, Micrex intends to proceed with a
resource estimate for the main magnetite layer.
The president of Micrex, Mr. Stan Marshall, states "I am very pleased with the
completion of the drilling and look forward to receiving the 43-101 compliant
resource figures". In the meantime, samples of the mineralized material have
been sent to prospective customers for assays and private evaluation, with
acceptance expected shortly.
The St-Charles project aims to produce Ti-magnetite for industrial purposes,
with a co-production of ilmenite for the titanium dioxide industry and apatite
for the phosphate industry. Ti-magnetite concentrates are currently being tested
for various applications by potential clients. Micrex has not completed a
preliminary economic on this project.
This press release has been reviewed and approved by Mr Rejean Girard, P.Geo,
qualified person for the St-Charles project.
Table 1- Summary of the magnetite mineralization intersection from DDH of the
initial and additional program
----------------------------------------------------------------------------
TARGET HOLE AZ DIP INTERSECTION
----------------------------------------------------------------------------
Main magnetic trend SB-11-01 081 -45 The main intersection
degrees degrees from 66.5-94.17 metres.
Several submetric
mineralized material
intersections.
----------------------------------------------------------------------------
Main magnetic trend SB-11-02 081 -45 Two mineralized material
degrees degrees zone intersected from 14-
34.9 metres and 58.63-
77.55 metres
----------------------------------------------------------------------------
Main magnetic trend SB-11-03 081 -45 Main intersection from
degrees degrees 69.94-83.48 metres.
Several other submetric
mineralized material
intersections.
----------------------------------------------------------------------------
Main magnetic trend SB-11-04 081 -45 Main intersection from
degrees degrees 54.84-70.19 metres.
Several other submetric
mineralized material
intersections.
----------------------------------------------------------------------------
Main magnetic trend SB-11-05 081 -45 Two mineralized material
degrees degrees intersections more than
20 metres : 1.75-25.1
metres and 132-154.65
metres plus two
intersections with width
of almost 10 metres :
84.6-93.35 metres and
109.7-119 metres. Several
other submetric
mineralized material
zones.
----------------------------------------------------------------------------
Main magnetic trend SB-11-06 081 -45 One single intersection
degrees degrees from 1.12 to 28.64
metres.
----------------------------------------------------------------------------
Main magnetic trend SB-11-07 081 -45 The main intersection
degrees degrees from 30.75 to 56.75
metres.
----------------------------------------------------------------------------
Main magnetic trend SB-11-08 000 90 A main intersection from
degrees degrees 48.95 to 86 metres.
----------------------------------------------------------------------------
Main magnetic trend SB-11-09 261 -45 A main intersection from
degrees degrees 49.15-96.65 metres.
----------------------------------------------------------------------------
Main magnetic trend SB-11-10 261 -45 Two mineralized material
degrees degrees intersections from 57.7-
78.75 metres and 119-
147.9 metres.
----------------------------------------------------------------------------
Main magnetic trend SB-11-11 081 -45 The main mineralized
degrees degrees material intersection
from 115.35-128.25
metres.
----------------------------------------------------------------------------
Main magnetic trend SB-11-12 081 -45 The main mineralized
degrees degrees material intersection is
from 52.75-80.05 metres
with another 10 metres-
width mineralized
material zone from 11.45-
21.7 metres.
----------------------------------------------------------------------------
Southern extension SB-11-13 081 -45 Two metric mineralized
degrees degrees material intersections
from 68.04-69.63m and
75.82-77.19m. Other
mineralized material
intersections less than
one metre in thickness.
----------------------------------------------------------------------------
Southern extension SB-11-14 081 -45 Two metric mineralized
degrees degrees material intersections
from 20.67-24.34m and
27.55-28.72m. Other less
than 1m-wide mineralized
material intersections.
----------------------------------------------------------------------------
Southern extension SB-11-15 081 -45 Intersection of
degrees degrees mineralized material zone
from 73.38 to 79.26m.
----------------------------------------------------------------------------
Southern extension SB-11-16 081 -45 Two mineralized material
degrees degrees zone intersections from
1.85 to 5.44m and 41.81
to 47.74m.
----------------------------------------------------------------------------
Northern extension SB-11-17 261 -45 Intersection of the main
degrees degrees zone from 65.05 to
69.86m, 75.94 to 89.82m
and 103.83 to 118.86m.
Other minor intersection
from 160.95 to 165.44m.
----------------------------------------------------------------------------
Northern extension SB-12-18 081 -45 Intersection of the
degrees degrees western body from 25.51-
29.73m and 75.52-78.27m.
Intersection of the main
body from 90.09 to
144.56m. Other shorter
intersections from 75.52-
78.27m.
----------------------------------------------------------------------------
Northern extension SB-12-19 000 -90 Intersection of the
degrees degrees western body from 44.99-
66.26m and 81.93-90.09m.
----------------------------------------------------------------------------
Map 1- Drill hole locations: http://media3.marketwire.com/docs/mix_map.pdf
Micrex Development Corp. (TSX VENTURE:MIX) is a mineral exploration company
based in Alberta, Canada with mining properties in North America.
Visit www.mixcorp.com for further details.
MICREX DEVELOPMENT CORP.
Burmis Magnetite/Titanium Property - St. Charles de Bourget
Magnetite/Titanium/Rare Earth Property - Fort Steele Placer Property - Bighorn
Gold Mine - Mount Royal Gold Mine - Deadwood Gold Mine - Sunburst Gold Property
FORWARD LOOKING STATEMENTS
Certain statements in this news release are "forward-looking statements", which
reflect management's expectations regarding its property and business
operations. All statements other than statements of historical fact contained in
this news release are forward-looking statements. Such forward-looking
statements involve risks and uncertainties, as they reflect management's current
beliefs and are based on information currently available to management. Actual
results may differ materially from those anticipated in the statements made. The
forward-looking statements are expressly qualified in their entirety by this
cautionary statement. The forward-looking statements are made as of the date of
this news release and Micrex assumes no obligation to update or revise them to
reflect new events or circumstances except as expressly required by applicable
securities law. Further information regarding the uncertainties and risks can be
found in the disclosure documents filed by Micrex with the securities regulatory
authorities, available at www.sedar.com.
SEC 12 g (3) Exemption 82-4281
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