International Enexco Commences $2.9 Million Drill Program on the Man Lake Uranium Project, Athabasca SK
28 January 2014 - 12:00AM
Marketwired
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 - Jan 27, 2014) -
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.
Qualified Person
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 LimitedSpiros Cacos+1 604 669
8368info@enexco.cawww.enexco.ca
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