International Enexco Further Drill Results from Contact Copper Project, Nevada
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/26/12 -- International Enexco Ltd. (TSX VENTURE: IEC)(OTCQX: IEXCF)(FRANKFURT: IE6) -
Highlights:
-- 0.73% Cu over 50 feet (15.2 m) in hole ENR-36
-- 0.20% Cu over 380 feet (115.8 m) in hole ENR-45
-- 0.59% Cu over 70 feet (21.3 m) in hole EN-157
-- 0.62% Cu over 40 feet (12.2 m) in hole EN-160
-- 38,025 feet (11,590 m) of 40,000 feet drill program completed
International Enexco Ltd. (the "Company" or "Enexco") is pleased to announce additional results from drilling at its 100%-owned Contact Copper Project, situated in northeast Elko County, Nevada. Results announced today are from 19 holes located between recently reported drilling at the east end of the project (see February 14 and March 19, 2012 press releases) and the eastern limit of reserves found in the Company's 2010 Pre-feasibility study, as posted on Sedar. The results today demonstrate continuity of mineralization between these two areas, and confirm an additional strike length of over 3,000 feet (914 m) to the deposit (see map).
The Company's drilling at the Contact Copper Project thus far has identified a zone of oxide copper mineralization extending east from the 2010 reserve outline. The zone is hosted by granodiorite intrusive rocks and is not exposed on the easternmost end where it is overlain by younger volcanic rocks and colluvial sediments.
Since November 2011, when the current program began, 58 reverse circulation holes and 17 core holes have been completed, for a total of 38,025 feet (11,590 m). The results being reported today are from 15 reverse circulation holes and 4 core holes. All 19 holes encountered reportable intervals grading above 0.10% Cu, with 69 individual reportable intercepts. Of the more significant intercepts, EN-157 encountered 70 feet (21.3 m) of 0.59% Cu starting at a depth of 583 feet (177.7 m) immediately adjacent to the 2010 reserve outline. EN-157 also had four other reportable intercepts higher in the hole. ENR-45, north of EN-157, encountered an interval of 380 feet (115.8 m) of 0.20% Cu beginning at a depth of 35 feet (10.7 m). EN-160, east of EN-157, encountered 40 feet (12.2 m) of 0.62% Cu at a depth of 548 feet (167.0 m); EN-160 also encountered four other reportable intercepts higher in the hole. Northeast of EN-160, ENR-36 intercepted 50 feet (15.2 m) of 0.73% Cu starting at surface. These results, along with the other holes being reported today demonstrate continuity of mineralization extending from the 2010 reserve outline to the area east of hole EN-149, as reported in the Company's previous press releases, dated February 14 and March 19, 2012, and confirm an additional strike length of over 3000 feet (914 m) on the trend of the mineralization.
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Az/Incl From To Length Length
Drill Hole (degrees) (m) (m) (metres) (feet) Cu %
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ENR-32 n.a./-90 54.9 61.0 6.1 20 0.11
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93.0 99.1 6.1 20 0.11
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132.6 144.8 12.2 40 0.18
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ENR-33 -55/343 91.4 97.5 6.1 20 0.28
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149.4 155.4 6.1 20 0.18
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ENR-34 n.a./-90 33.5 39.6 6.1 20 0.11
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54.9 89.9 35.1 115 0.18
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ENR-35 -60/344 24.4 30.5 6.1 20 0.14
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47.2 54.9 7.6 25 0.22
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61.0 70.1 9.1 30 0.13
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88.4 102.1 13.7 45 0.11
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112.8 135.6 22.9 75 0.25
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ENR-36 -55/341 0.0 15.2 15.2 50 0.73
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62.5 68.6 6.1 20 0.11
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77.7 89.9 12.2 40 0.15
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121.9 128.0 6.1 20 0.10
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ENR-37 -80/341 7.6 18.3 10.7 35 0.22
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79.2 86.9 7.6 25 0.20
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157.0 163.1 6.1 20 0.36
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ENR-38 -55/341 3.0 12.2 9.1 30 0.15
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71.6 77.7 6.1 20 0.21
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118.9 125.0 6.1 20 0.10
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ENR-39 -70/340 33.5 48.8 15.2 50 0.27
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93.0 99.1 6.1 20 0.12
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121.9 128.0 6.1 20 0.20
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144.8 150.9 6.1 20 0.16
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ENR-40 n.a./-90 79.2 88.4 9.1 30 0.18
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96.0 117.3 21.3 70 0.16
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135.6 141.7 6.1 20 0.11
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ENR-41 -50/340 51.8 61.0 9.1 30 0.14
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93.0 121.9 29.0 95 0.18
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ENR-42 n.a./-90 36.6 44.2 7.6 25 0.19
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67.1 73.2 6.1 20 0.12
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102.1 121.9 19.8 65 0.13
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ENR-43 -55/342 19.8 32.0 12.2 40 0.19
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57.9 102.1 44.2 145 0.20
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117.3 123.4 6.1 20 0.24
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ENR-44 n.a./-90 7.6 16.8 9.1 30 0.17
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91.4 102.1 10.7 35 0.10
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111.3 120.4 9.1 30 0.11
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ENR-45 n.a./-90 10.7 126.5 115.8 380 0.20
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134.1 140.2 6.1 20 0.13
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147.8 153.9 6.1 20 0.10
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167.6 176.8 9.1 30 0.12
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182.9 192.0 9.1 30 0.14
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198.1 213.4 15.2 50 0.15
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ENR-46 -50/340 3.0 33.5 30.5 100 0.19
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56.4 88.4 32.0 105 0.18
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150.9 166.1 15.2 50 0.41
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EN-157 -50/340 17.4 23.8 6.4 21 0.16
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57.3 74.1 16.8 55 0.13
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90.5 133.5 43.0 141 0.17
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142.6 148.7 6.1 20 0.11
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177.7 199.0 21.3 70 0.59
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211.2 217.3 6.1 20 0.27
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EN-158 -48/340 34.1 40.2 6.1 20 0.13
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60.0 70.7 10.7 35 0.12
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87.5 98.1 10.7 35 0.19
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110.3 146.9 36.6 120 0.14
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EN-159 n.a./-90 45.1 63.4 18.3 60 0.31
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72.5 78.6 6.1 20 0.12
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96.9 104.5 7.6 25 0.15
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179.2 185.3 6.1 20 0.36
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189.9 196.0 6.1 20 0.12
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EN-160 -70/340 36.0 61.9 25.9 85 0.15
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110.6 116.7 6.1 20 0.29
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122.8 130.5 7.6 25 0.17
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141.1 147.2 6.1 20 0.16
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167.0 179.2 12.2 40 0.62
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Note: All intervals were calculated using 0.1% Cu cutoff and a minimum width
of 20 feet (6.1 m) with no internal waste zones greater than 15 feet (4.6 m)
in length. None of the holes listed above are included in the Company's NI
43-101-compliant resource estimate of October, 2010.
The samples from the Contact Copper Project drilling program are prepared and analyzed by SGS Minerals Services in Toronto, Canada, an ISO/IEC 17025 certified laboratory.
The current drill program at Contact was expanded from 20,000 feet (6,096 m) to 40,000 feet (12,192 m) earlier this year. As of this press release, 38,025 feet (11,590 m) of the program has been completed. Assays are pending on 12 reverse circulation holes and 13 core holes. Core drilling is expected to continue through April. Further expansion of the program and resumption of reverse circulation drilling are being considered.
To view the "Drill Hole Location Map", please visit the following link: http://media3.marketwire.com/docs/iec426i.pdf.
About the Contact Copper Project
The Contact Copper Project is a copper oxide project located in Elko County, Nevada, that is planned to use low cost SX-EW recovery to produce cathode copper on site.
Additional information on the project can be found on the Company's website at http://www.enexco.ca/s/contact_copper.asp and in the October, 2010 NI 43-101Technical Report Pre-feasibility Study Update for the Contact Copper Project, Elko County, Nevada as posted on Sedar.
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 Ltd.
International Enexco Ltd. is a North American exploration and development company focused on the feasibility stage Contact Copper Project in northern Nevada. The Company also pursues gold and silver exploration in Idaho and Nevada, and is advancing the Mann Lake Uranium Project located in Saskatchewan's prolific Athabasca basin. This project is a joint venture with Cameco as operator and Areva-two of the world's largest uranium companies.
On behalf of the Board of Directors, I look forward to keeping you updated with our corporate developments.
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. We seek safe harbour.
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.
Contacts:
International Enexco Limited
Spiros Cacos
+1 604 669 8368
+1 604 662 3231 (FAX)
info@enexco.ca
www.enexco.ca