Metalex Announces Copper-Nickel- Cobalt Drill Targets at B3 Claim Block IN Quebec
METALEX ANNOUNCES COPPER-NICKEL-
COBALT DRILL TARGETS AT B3 CLAIM
BLOCK IN QUEBEC
www.metalexventures.ca
KELOWNA, BC
,
April 15, 2024
/CNW/ -
Metalex Ventures Ltd.
(TSXV: MTX) (the "Company")
announces that its 100% owned B3 claim block contains promising geophysical anomalies for
copper-nickel-cobalt mineralization.
Map 1. (CNW Group/Metalex Ventures Ltd.)
Claim Block B3
The 24,322 hectare B3 claim block was staked in 2022 as it contains copper-nickel-cobalt sulphides
as shown by the Company's heavy mineral and soil-till-talus sampling (see Map 1). In late 2023
Metalex had a VTEM airborne geophysical survey completed over its B3 claim block by Geotech
Ltd.
The VTEM survey, which included both electromagnetic and magnetic data, was reviewed by SHA
Geophysics Inc. Their work indicates that there are a total of 18 significant conductors on the
property. Of these, eight are thought to likely represent sulphide mineralization.
In the southwest of the claim block there are two anomalies which will be the initial focus of an
upcoming drill program. Both anomalies are potential sources of the nearby strongly anomalous
nickel-copper-cobalt heavy mineral sample results as they lie either up ice or up stream. The
anomalies are shown in Map 1.
Target B3-q is described as a wide, steeply dipping conductive zone coincident with a singular
magnetic anomaly.
Target B3-p is a moderate to strong conductor associated with the southern contact of a weak
linear magnetic anomaly. The modelling of this anomaly suggests that it is a thick, steeply dipping
conductor.
Claim Block A5
Results from the 2023 drilling on the A5 claim block have now been received. Significant
mineralization, for either gold or ilmenite/scandium, was not intersected. However, due to the
province-wide work ban implemented due to forest fires last year only four of the planned five holes
were completed. Metalex is reviewing these results, along with our existing data, to determine if the
additional planned, but not drilled, hole will be completed after drilling the nickel-copper-cobalt
targets.
Summary
Metalex is pleased to have detected numerous geophysical conductor anomalies within the B3 claim
block. These are thought to be the source of the strongly anomalous nickel-copper-cobalt results
found by the Company's comprehensive heavy mineral and soil-till-talus geochemical sampling
program. Drilling of two of these high priority targets is scheduled for this summer.
The technical information and results reported here have been reviewed by Mr.
Chad Ulansky
P.Geo
., a Qualified Person under National Instrument 43-101, who is responsible for the technical
content of this release.
Signed,
Charles Fipke
Charles Fipke
Chairman
FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press
release constitute "forward-looking statements" or "forward-looking information", including
statements regarding the expected use of proceeds of the private placement. Further, any
statements or information that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future events or performance
(often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans",
"estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or
stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved, or the negative of any of these terms and similar expressions) are not
statements of historical fact and may be forward-looking statements or information. The
Company's forward-looking statements and information are based on the assumptions, beliefs,
expectations and opinions of management as of the date of this press release, and other than as
required by applicable securities laws, the Company does not assume any obligation to update
forward-looking statements and information if circumstances or management's assumptions,
beliefs, expectations or opinions should change, or changes in any other events affecting such
statements or information. For the reasons set forth above, investors should not place undue
reliance on forward-looking statements and information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
SOURCE
Metalex Ventures Ltd.
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For further information:
Chad Ulansky, President & CEO, +1-250-860-8599,
CO: Metalex Ventures Ltd.
CNW 09:00e 15-APR-24