International Enexco Announces Additional Drill Results From Contact Copper Project, Nevada
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/18/12 -- International Enexco Ltd. (TSX VENTURE: IEC)(OTCQX: IEXCF)(FRANKFURT: IE6) (the "Company" or "Enexco") is pleased to announce additional results from the 2011-2012 drill program from its 100%-owned Contact Copper Project, located in northeast Elko County, Nevada.
Highlights include:
-- Drill Program Completed 42,418 feet (12,932 meters)
-- 0.21% Copper over 200 feet (61 meters) in EN-169
-- 0.33% Copper over 105 feet (32 meters) in EN-164
Drilling on the east end of the project has added over 3,000 feet (914 m) of strike length to the identified copper oxide mineralization, which now extends over 7,250 feet (2,210 m) in length. Results today are from in-fill holes within the east extension. Of the 10 holes drilled, 9 were completed and contained intervals of copper oxides grading above 0.10% copper (Cu). EN-169 intersected the thickest zone, with 0.21% Cu over 200 feet (61 m). A similar interval was encountered in EN-164, with 105 feet (32 m) of 0.33% Cu.
"We are excited with our drill results released to date, which help the Company in updating the geological model and resource base, as it continues metallurgical and geotechnical tests and related work towards a feasibility study later this year," commented President & CEO Arnold Armstrong.
In the 2011-2012 program, 42,418 feet (12,932 m) were drilled in 58 reverse circulation holes and 24 core holes. Results from 58 RC holes and 4 core cores were announced in previous news releases and the results for 10 core holes are pending assays the drill program began in November, 2011 with the purpose of in-filling and expanding the project as outlined in the 2010 Updated Prefeasibility Study of the Contact Copper Project, as posted on Sedar.
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Az/Incl From To Length Length
Drill Hole (degrees) (meters) (meters) (meters) (feet) Cu %
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EN-161 n.a./-90 19.7 36.0 16.3 53.5 0.17
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136.6 142.6 6.1 20 0.11
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EN-162 340/-60 16.0 25.0 9.0 29.5 0.28
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76.2 82.9 6.7 22 0.13
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99.7 105.8 6.1 20 0.15
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175.9 182.6 6.7 22 0.45
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EN-163 340/-75 92.4 98.5 6.1 20 0.28
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192.9 199.0 6.1 20 0.15
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EN-164 340/-70 84.7 96.9 12.2 40 0.14
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104.5 136.6 32.0 105 0.33
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EN-165 340/-75 77.1 84.7 7.6 25 0.14
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100.0 109.1 9.1 30 0.18
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121.3 133.5 12.2 40 0.26
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EN-166 n.a./-90 78.6 84.7 6.1 20 0.51
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EN-167 340/-65 No intercepts, lost hole
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EN-168 340/-70 42.1 48.2 6.1 20 0.12
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59.1 84.7 25.6 84 0.23
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147.2 154.8 7.6 25 0.14
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EN-169 n.a./-90 37.2 98.1 61.0 200 0.21
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EN-171 n.a./-90 28.3 37.5 9.1 30 0.15
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42.1 52.7 10.7 35 0.13
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80.2 92.4 12.2 40 0.13
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110.6 130.5 19.8 65 0.24
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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.
To view the Drill Hole Location Map East, please click on the following link: http://media3.marketwire.com/docs/iec718i.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. We seek safe harbour.
Contacts:
International Enexco Limited
Spiros Cacos
+1 604 669 8368
+1 604 642-2629 (FAX)
info@enexco.ca
www.enexco.ca