International Enexco Confirms New Copper Target at Contact Copper Project (Nevada)
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/27/12 -- International Enexco Ltd. (TSX VENTURE: IEC)(OTCQX: IEXCF)(FRANKFURT: IE6) (the "Company" or "Enexco") is pleased to announce results from a surface sampling program at the Company's 100%-owned Contact Copper Project in northeast Nevada.
High-grade copper assays were returned from a suite of 28 rock chip samples taken at the Copper Ridge prospect, located one mile (1.6 km) southwest of the main Contact Copper Project resource. The recent sampling has returned grades of up to 12.4% copper from outcrops of oxide mineralization within quartz monzonite. Samples were collected in an area of recently acquired claims and confirm work completed by the previous owner prior to the Copper Ridge area being consolidated by Enexco under a 2011 property acquisition. The sampling was done within an area that extends approximately 8,000 feet by 2,000 feet (2,500 m by 600 m). Previous activity in the area is limited to shallow prospect pits, and has no previous drilling.
The purpose of the sampling program was to determine if additional geologic work is warranted to identify drill targets in the area. The results confirm earlier sample results and support further work in exploring the Copper Ridge prospect as an area that could provide additional copper oxide material for the Contact Copper Project.
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Copper Ridge Prospect Samples
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Sample No. Sample Type % Copper
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51705 outcrop 2.94
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51706 outcrop 0.84
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51707 outcrop 3.05
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51709 outcrop 0.64
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51710 outcrop 1.24
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51711 outcrop 0.68
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51712 outcrop 0.12
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86675 outcrop 3.44
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86676 outcrop 1.19
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85317 outcrop 9.79
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85319 outcrop 4.69
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85321 outcrop/dike 1.44
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85322 outcrop 1.35
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85323 outcrop 2.40
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85324 outcrop 1.29
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86679 outcrop/vein 1.00
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86680 outcrop/vein 5.57
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86684 outcrop 3.58
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86686 outcrop 2.73
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86687 outcrop 1.53
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86689 outcrop 1.24
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86690 outcrop 2.24
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86691 outcrop 10.20
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86692 outcrop/vein 12.40
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86669 outcrop 0.57
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86670 outcrop 3.12
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86671 outcrop/dike 0.99
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86673 outcrop 2.03
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Note: The samples from the Copper Ridge Area surface sampling program were prepared and analyzed by SGS Minerals Services in Vancouver, Canada, an ISO/IEC 17025 certified laboratory.
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 copper cathode on site.
Year to date, the Company has drilled 42,418 feet (12,932 m) in 58 reverse circulation holes and 24 core holes. Results were announced in previous news releases and the remaining results for 10 core holes are pending assays. Additional information is available on Enexco's website at http://www.enexco.ca/s/contact_copper.asp and in the October, 2010 NI 43-101 Technical 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 Ltd.
Spiros Cacos
+1 604 669 8368
+1 604 642-3691 (FAX)
info@enexco.ca
www.enexco.ca