Cameco Corp. Conducting a Winter Geophysical Survey at Mann Lake, Saskatchewan
Second Drill Rig Purchased For Enexco’s Contact Property, Nevada
Arnold Armstrong, President and CEO of International
Enexco Ltd. announced today preparations for a geophysical survey over
a portion of the Mann Lake High Grade Uranium Property are complete.
The survey, which will be directed by our joint venture partner Cameco
Corporation, will use the Time Domain Electromagnetic Method (TDEM) to
better define conductor traces and provide future drill targets between
Lines 44N and 50N, centred at approximately 1.6 kilometers north of and
on strike from the MN-013 high grade discovery hole drilled in 2006
during the Phase 1 drilling program.
The TDEM geophysical survey will be carried out
across a large uranium-in-sandstone anomaly in the northern part of the
north-south striking C conductor trend, which extends the entire length
of the Mann Lake property. A 3-hole fence drilled in 1989 on Line 50N
intersected a uranium anomaly in the basal Athabasca sandstone, with
283 m of 1.76 ppm partial uranium in hole MN-05, 130 m of 1.48 ppm
partial uranium in hole MN-07 and 134 m of 3.08 ppm partial uranium in
hole MN-08. This anomaly is open over a 100-meter width across the
strike of the C conductor trend. A 2005 resistivity survey identified a
resistivity low approximately 300 m grid south of the anomaly.
The Phase - 2 drilling program completed in 2007
tested some of the potential extensions of the high-grade intervals in
MN-013 (7.12% U3O8 over 0.25 meters and 5.53% U3O8 over 0.4 meters).
The nearest holes drilled during the 2007 campaign were approximately
50 m away. A possible dilation zone was interpreted to be present to
the east of MN-013, where flat foliation in the footwall changes to
almost vertical in the hanging wall. This potentially favorable zone,
as well as the IP resistivity low anomaly located under the lake west
of MN-013, has yet to be drill tested. A multitude of other untested
areas remain at Mann Lake.
International Enexco's President and CEO Arnold Armstrong stated today that:
"Mann Lake remains a high priority property for
Cameco, Corp. and its alliance partners. The TDEM survey and past and
future drill programs are methodically revealing the uranium potential
at Mann Lake."
Results from the TDEM survey will be released as soon as they are received from Cameco.
The Strategic Alliance co-developing the high-grade
uranium discovery property at Mann Lake consists of International
Enexco (30%), Cameco Corp. (35%) and UEM Inc. (35%)
In other news:
Extensive drill programs at International Enexco’s
100% owned Contact Property, a Copper/Silver Resource Property located
in N/E Nevada, continue. In 2007 International Enexco purchased its own
drill rig and hired its own drill crews to do extensive infill and
exploratory drilling at Contact. The Company is now in the process of
purchasing a second drill rig which will allow it to more quickly
commence with a planned pre-feasibility study at Contact. The
additional drill rig will also allow the Company greater flexibility
and cost savings to explore additional regional opportunities.
International Enexco plans on issuing a broader update to shareholders on its Contact property in a forthcoming press release.
ABOUT INTERNATIONAL ENEXCO
Enexco is a Canadian based advanced exploration
company headquartered in Vancouver, B.C. In addition to the Company’s
participation in the Mann Lake Strategic Uranium Alliance
(International Enexco 30%, Cameco Corp 35% and UEM Inc. 35%) the
Company also continues to advance its 100% owned Contact Copper/Silver
Resource Property located in N/E Nevada towards production.
For further information on all of Enexco's projects, visit our website at: www.enexco.ca
Paul McKenzie, Director, International Enexco Limited
Tel: (604) 669-8368 Fax: (604) 642-2629
