Triex Minerals Corporation
TSX VENTURE : TXM

Triex Minerals Corporation

January 25, 2007 09:30 ET

Triex Minerals Corporation: Follow-up Drilling is Planned Following Positive Results from Phase I Program at Mann Lake, Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 25, 2007) - Triex Minerals Corporation (TSX VENTURE:TXM) ("Triex") and Consolidated Abaddon Resources Inc. ("Consolidated Abaddon") are pleased to announce that alteration and uranium geochemical anomalies are confirmed by the recently completed, first-pass drill program on the Mann Lake Property, located in the eastern Athabasca Basin (for property locations, maps and photos, visit the Company's website at www.triexminerals.com). A $1.2 million follow-up diamond drilling program is planned for the second half of 2007.

Previous work on the property is summarized in the September 20, 2006 press release.

A total of 3,510 metres of drilling were completed in five holes by Hy-Tech Drilling Ltd. of Smithers, BC. All holes were inclined 80 degrees and all were successfully probed with a Mount Sopris 2PGA-1000 poly-gamma probe. A total of 470 geochemical samples were processed at the Saskatchewan Research Council, Saskatoon. Uranium was analyzed by fluorimetry. Numbers reported are for partial digestion of uranium; data for total digestion of uranium are also in hand. Systematic PIMA data were collected to evaluate clay alteration signatures.

This program tested an easterly to southeasterly trending structural corridor about one kilometre wide, which is traced for about five kilometres across the central part of the property. It truncates the regional northeasterly grain of conductors, linears, and magnetic features. A ground-based gravity survey completed last winter delineates individual faults in the corridor (see geophysical map on website). Diamond drill hole MN06-002, located on the southern side of the structural corridor, encountered pervasively bleached and locally intensely fractured and friable sandstone over approximately 90 metres immediately above the unconformity, in the lower part of the Athabasca Group. The unconformity was intersected at 606 metres (see drill core photo on website). On-site PIMA analyses show illite clay alteration within this 90 metre interval of altered sandstone. Further, there is increased radioactivity at the unconformity.

Hole MN06-005 is located on the northern side of the structural corridor, and approximately one kilometre to the north of Hole MN06-002. The hole intersected the unconformity at 631 metres. A 4.5 metre wide zone of anomalous boron (up to 1,758 ppm Bo) was encountered in sandstone, immediately above the unconformity. An altered basement gneissic rock with abundant clay, chlorite, hematite and calc-silicate minerals about 7.8 metres below the unconformity contains anomalous uranium (up to 73.6 ppm uranium over a 1.5 metre interval), compared to a background of between 1 to 3 ppm. Quartz veinlets are noted. This zone is coincident with an adjacent interval with up to 631 ppm Bo over 7.2 metres (see boron geochemical plot on website). Boron is enriched at the McArthur River Mine, and together with illite and chlorite alteration, define an integrated regional hydrothermal corridor between the McArthur River and Key Lake uranium mines (eg. Earle and Sopuck, 1989).

The three holes that were drilled away from the easterly trending structural corridor did not contain altered or radioactive rock, or geochemical anomalies.

This program confirmed that the discordant structural corridor defined by gravity faults in the central part of the property is prospective for hydrothermal fluids and uranium mineralization, and follow-up drilling is planned for the summer of 2007. This will be done in conjunction with drilling one of the two other target areas on the Property that remain untested - one related to conductors identified northeast of Marean Lake during a 1999 ground TEM survey, and one related to historic surface geochemical anomalies near Mann Lake.

The Mann Lake property is located in the eastern Athabasca Basin, Saskatchewan and is approximately 25 kilometres southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world. This property is approximately 15 kilometres to the northeast of Cameco Corporation's recently discovered Millennium Deposit, immediately east of the northern extent of the B1 Conductor that is spatially associated with the Millennium Deposit. The areas immediately east and west of the property are being actively explored, and several new basement-hosted uranium occurrences have been discovered and announced in the past six months.

Triex has the option to earn up to a 70% interest from Consolidated Abaddon in the one claim, 3,473 hectare property (see September 26, 2005 news release). Triex has informed Consolidated Abaddon that as per the option agreement, it has earned its 51% interest.

Ross McElroy, P.Geo., Exploration Manager at Triex, is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by Triex in the Athabasca Basin. This release has been reviewed by Dr. Michael Gunning, Ph.D., P.Geo., President of Triex and a Qualified Person as defined by National Instrument 43-101.

Triex is a Canadian junior mineral exploration company currently focused on uranium opportunities in three separate districts in North America. Eight main projects span grass roots reconnaissance exploration to advanced-stage resource delineation, with a total annual exploration budget of $8.7 million.

TRIEX MINERALS CORPORATION

Michael Gunning, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Triex Minerals Corporation
    Michael Gunning
    President
    (604) 687-6680
    (604) 687-1448 (FAX)
    Website: www.triexminerals.com