Explorex Announces Plans for The Kagoot Brook Cobalt - Manganese - Base Metals Project in New Brunswick
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2019) - Explorex Resources Inc. (CSE: EX) (FSE: 1XE) (OTC Pink: EXPXF) (the "Company" or "Explorex") is pleased to announce the Company's plan to conduct a comprehensive exploration program, at the Kagoot Brook Co-Mn-Base Metals project in New Brunswick, consisting of a detailed geophysical survey followed by a 2,000m drill program.
Historical work at Kagoot Brook has delineated two drainages, two kilometres apart, that exhibit a series of remarkably anomalous cobalt values up to 6,000 ppm* in the silts (see Company news releases dated May 31 and February 14, 2018).
Recent follow-up stream silt sampling programs performed by the Company revealed:
(i) a significant concentration of and a strong relationship of cobalt with manganese and associated base metals (nickel, copper, lead and zinc);
(ii) the relative percentage of the cobalt to manganese indicates a favourable high cobalt tenor (i.e. grade component); and
(iii) a distinct upstream cut-off of the cobalt mineralization (see Company news release dated November 5, 2018).
The project area is blanketed by a thin till cover with little or no outcrop and the in-stream silt grade cut-offs are interpreted to closely reflect the southern contact of the underlying mineralized horizon. The grade cut-offs align well with stratigraphy adding confidence to the >2 km inferred potential length of mineralization along the geological trend.
The Company took advantage of a window of opportunity and completed two holes for a total 500 metres prior to the Christmas break. This initial two-hole drill program was limited in scope and designed to drill along one transect across the target stratigraphy within the 4 x 1 kilometre target area. The processing of the core is complete and results should be available mid to late February.
The planned exploration program will consist of comprehensive geophysical coverage of the target area followed by a 2,000m drill program.
*Note: The stream silt samples reported in this release are solely designed to show the presence or absence of mineralization and to characterize the mineralization. Silt samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the projects.
Technical Information in this news release has been reviewed by R. Kemp, P Geo., a Qualified Person as that term is defined in NI 43-101.
About Explorex Resources Inc.
Explorex is an exploration company focusing on Cobalt and metals critical to rechargeable battery technology. Explorex is earning a 75% interest in the Co-Mn-Base Metals Kagoot Brook project in New Brunswick, has 100% interest in the early stage Handlebar Co-Cu-Ni Project northeast of Kamloops BC and is actively sourcing additional projects to increase its property portfolio.
On behalf of the Board,
For further information, please contact Gary Schellenberg, CEO or Mike Sieb, President at 604-681-0221
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially and there are no assurances that the transaction described in this news release will close on the terms described or at all. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42498