International Enexco Limited
TSX VENTURE : IEC

International Enexco Limited

October 05, 2009 09:00 ET

Enexco Commences Drilling Loomis Gold Property, Nevada

Phase one drilling at Hot Pot Gold Property, Nevada nears completion, assays pending

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2009) - International Enexco Ltd. (TSX VENTURE:IEC) (the "Company" or "Enexco") reported today that drilling is underway on Fronteer Development Group Inc.'s Loomis Mountain gold property located 32 kilometres north of Wells in Elko County, Nevada. The property covers 15,570 acres of mostly private mineral rights and has similar geological characteristics to deposits in the Carlin Trend. Widespread anomalous gold mineralization at Loomis Mountain occurs in a northeast-trending zone within upper plate rocks of the Roberts Mountain Thrust. Enexco is project operator.

Surface sampling conducted by Enexco has confirmed gold occurrences in rock-chip samples ranging from anomalous to 7.1 grams per tonne gold. The samples fall within a target area containing several silicified breccias, up to 2 meters in width, within an exposed area approximately 500 metres by 1500 metres. A 2000 metre RC drilling program consisting of 17 angled holes commenced last month. In addition to testing the gold potential of the structures within the upper plate rocks, the RC program is planned to provide direction for later core drilling to intersect the structures at depth within the more favorable lower-plate rocks, which are the host for high grade gold mineralization elsewhere in the Carlin Trend. One of Enexco's core drills will be used for the deeper drilling program. Enexco holds an option to earn a 51% interest in the Loomis Mountain gold property. (see Enexco June 2, 2009 news release).

Hot Pot Gold Property

The Phase One drilling program at the Hot Pot gold property in Humbolt County, Nevada, which commenced in July this year, is nearing completion. The property is located 6 kilomtres west of Newmont's Lone Tree Mine (5 million ounces Au) and 13 kilometres north of Goldcorp's Marigold Mine (4 million ounces Au). In the Phase One drilling program, Enexco, thus far, has succeeded in testing beneath the valley sand and gravel cover, with angled core holes to 500 metres depth. The Company is encouraged by the drilling, which has intersected altered quartzites and argillites similar to the host rocks at the Lone Tree and Marigold mines. Phase Two drilling at Hot Pot will continue to develop stratigraphic information and test the property for high-angle structures which are the focus of high grade mineralization at the aforementioned mines. The Hot Pot gold property is under a joint-venture agreement between International Enexco and Nevada Exploration Inc. (NGE.V) (see Enexco June 8, 2009 news release).

The information herein was reviewed by Dr. William Willoughby, PE who is a Director of International Enexco and a Qualified Person (QP) as defined by Canadian National Instrument 43-101 Complete assay results from the Loomis Mountain and Hot Pot drilling programs will be issued in forth coming press releases by the Company.

Interested parties can view more information on the company's gold projects at www.enexco.ca.

ABOUT INTERNATIONAL ENEXCO

Enexco is a Canadian based advanced exploration company headquartered in Vancouver, B.C. In addition to its 100% owned Contact Copper Project, in Elko County, Nevada, the Company is exploring prospective areas of Nevada for gold deposits, and has a joint-venture with Cameco Corporation (52.5%), Enexco (30%) and AREVA. (17.5%) to jointly develop the High-Grade Mann Lake Uranium Project located in the Athabasca Basin in Saskatchewan. Cameco is operator of the Mann Lake Uranium Project.

For further information on all of Enexco's projects, visit our website at: www.enexco.ca.

"Neither The 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."

Contact Information

  • International Enexco Limited
    Paul McKenzie
    Director
    (604) 669-8368
    (604) 642-2629 (FAX)
    www.enexco.ca