Micrex Development Corp.: Drilling Program Assays Completed from St. Charles Quebec

Micrex Development Corp. (TSX VENTURE:MIX) is pleased to announce that it has
received all the assays and Davis Tube testing results from the recent drilling
program on its St-Charles-de-Bourget magnetite project, which consisted of 19
holes totalling 3161 metres.


The results, which are all available on the Company's web site, confirm
historical assessments of the property and support Micrex's plan to bring this
project into production. Discussions with potential customers and partners are
on-going, and Micrex will continue its program to define the resource to NI
43-101 standards.


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 have been successfully
tested for various applications by potential clients.


The drilling program has indicated that the mineralization at St. Charles is
sufficiently continuous and abundant to justify a 43-101 compliant resources
calculation, which will be undertaken in the coming months. As stated in
previous press releases, Micrex is planning a selective mining approach in order
to produce various qualities of materials for niche industrial markets, such as
titanomagnetite slurry for DMS (Dense Media Slurry) plants for the coal
companies, low-titanium magnetite concentrate for production of ferric sulphate
used by water treatment plants, ilmenite concentrate for the titanium industry,
and apatite concentrate to be use by the fertilizer industry.


Stan Marshall, CEO of Micrex stated "We are pleased with these results, which
confirm our assessment of this project. Drilling was required to bring
historical results compliant with 43-101 standards. We remain commited to moving
this property into production. Typical of industrial mineral projects, end users
need to be assured that the specific minerals in the ground meet their technical
requirements. Micrex has multiple industrial applications for its planned
output, and has had potential customers on site and has shipped product for
their own specific (external) testing. The market for our various potential
products is great, and Micrex is well positioned to fulfill this demand. We are
confident shareholders will soon begin to see positive results from the many
years of work and preparation it takes to put a property into production."


The drilling work lead to the identification of three titanomagnetite, ilmenite
and apatite mineralized zones: centre, east and west. Those mineralized bodies
are approximately parallel, striking at about N170 degrees, dipping west between
45 to 80 degrees. Grades are expressed in weight percent, either of the
head-grade or of the magnetite concentrate.


The centre mineralized zone is the main one of interest of the drilling program.
Salient features are:




--  Drilled over a strike length of 400 metres, with a thickness between 12
    to 40 metres. 
--  Drill intersections grading between 24.51% to 46.93 wt% of
    titanomagnetite, with an average of 36.52 wt%, as recovered by Davis
    tube testing. 
--  Titanomagnetite concentrates show titanium contain between 3.62% to
    13.84 wt% (TiO2), with an average of 9.61 wt%. 
--  Titanium grades of the mineralization itself range between 8.88% to
    15.53 wt% TiO2 with an average of 13.26 wt%, suggestive of approximately
    20% ilmenite content on top of the titanomagnetite. 
--  Phosphate grades between 7.48% to 10.22 wt% P2O5 with an average of 9.16
    wt%. This is equivalent of an average of approximately 20% apatite. 
--  Mineralizations have been intersected over apparent lengths between 3.16
    to 44.55m, with an average of 16.95m. 
--  The mineralized zone remains open to the north and at depth. 



The west mineralized zone runs parallel to the center one. Its salient features are:



--  Drilled over a strike length of 400 metres, with a thickness between 4
    to 25 metres. 
--  Shows a composition similar to the centre zone. 
--  Drill intersection grading between 22.03% to 46.62 wt% titanomagnetite,
    as recovered from Davis tube testing, with an average of 35.23 wt%. 
--  Titanium content of the magnetite concentrates between 1.96% to 16.05
    wt% (TiO2), with an average of 10.57 wt%. 
--  Titanium grades of the mineralization itself range between 9.44% to
    16.42 wt% TiO2 with an average of 12.11 wt%, suggestive of approximately
    20% ilmenite content on top of the titanomagnetite. 
--  Phosphate grades between 6.25% to 10.22 wt% P2O5 with an average of 8.91
    wt%. This is equivalent of an average of approximately 17% apatite. 
--  Mineralized intercepts range between 3m to 29m with an average of 11.22m
    apparent length. 
--  The west mineralized zone remains open to the north, to the south and at
    depth. 



The East mineralized zone is present only in the northern drilling profiles. Its
salient features are:




--  Intersected over a strike length of 250 metres. 
--  Estimated thickness between 5 to 25 metres. 
--  Magnetite grades between 25.65% to 39.51 wt%, with an average of 29.65
    wt%, as recovered by Davis tube testing. 
--  Titanium content of the magnetite concentrates between 4.79% to 10.16wt%
    (TiO2), with an average of 9.54 wt%. 
--  Titanium grades of the mineralization itself range between 10.54% to
    14.44 wt% TiO2 with an average of 11.92 wt%, suggestive of approximately
    20% ilmenite content on top of the titanomagnetite. 
--  Phosphate grades between 5.18% to 12.38 wt% P2O5 with an average of 9.17
    wt%. This is equivalent of an average of approximately 20% apatite. 
--  Mineralized intercepts range between 3m to 22.65m with an average of
    9.54m apparent length. 
--  The East mineralized zone remains open to the north and at depth. 



Assays from the most significant intersects are available on the company's
website. Also included are the titanomagnetite abundance as measured by Davis
Tube testing, the titanium content of the titanomagnetite, as well as assay
results of the headgrade for titanium TiO2 and phosphate P2O5 grades, as well as
calculated ilmenite and apatite proportions. The formula use to convert TiO2
into ilmenite assume that part of titanium is hosted in titanomagnetite and that
ilmenite is pure FeTiO3 :

%Ilmenite =1.89 x (wt% TiO2 - wt% Magnetite Davis tube (i) wt% TiO2 Davis tube
concentrate). 


The formula to convert P2O5 into apatite assumes it is a fluoroapatite and that
no other mineral contain phosphate: 

% Apatite = 2.39 x Wt% P2O5. 

Micrex management is encouraged by these results, especially the following aspects:



--  The sum of titanomagnetite plus ilmenite plus apatite represents, in
    most cases, more than 70% of the rock as potentially salable products.
    Note that these three commodities have similar value per ton on the
    current market. 
--  The presence of zones of low-titanium grade magnetite, suitable for
    ferric sulphate production. 
--  The abundance of apatite which is exceeding expectations, and which
    might then be the most valuable product of the deposit. 
--  The proximity of industrial and transportation infrastructure. 



Core samples were processed in the IOS laboratory for magnetite recovery by
Davis tube testing and density measurement, while assaying is currently being
done at ALS-Mineral, an ISO-17025 accredited laboratory. This press release has
been reviewed and approved by Mr Rejean Girard, P.Geo from IOS Services
Geoscientifiques Inc., a qualified person for the St. Charles project.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Micrex Development Corp.
Perry Meszaros
(780) 448-0922
mixinfo-1@mixcorp.com


Micrex Development Corp.
S.E. Marshall
(780) 448-0922
mixinfo-1@mixcorp.com
www.mixcorp.com
Micrex Development (TSXV:MIX)
過去株価チャート
から 11 2024 まで 12 2024