Triex Minerals Corporation

Triex Minerals Corporation

January 29, 2007 09:30 ET

Triex Minerals Corporation: Pasfield Lake Exploration Advances Towards Drilling, Eastern Athabasca Basin, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 29, 2007) - Triex Minerals Corporation (TSX VENTURE:TXM) ("Triex") is pleased to announce that an airborne gravity survey has been completed, and ground AMT surveys are underway, at its Pasfield Lake Property, located in the eastern Athabasca Basin. For property location and description, visit the Company's website at Preliminary results from both surveys will be used to refine the position of drill hole targets for a 4,000 metre drill program for which drill mobilization is planned to commence on January 31, 2007. Hy-Tech Drilling Ltd. of Smithers, B.C., has been contracted to complete the eight (8) hole program, which is anticipated to take eight weeks to complete. A winter camp has been established on the property and ground geophysics surveys are well underway.

Previous exploration on the property in 2006 is summarized in March 28 and August 30, 2006 news releases.

Bell Geospace Inc. has completed a 1,616 line-kilometre airborne 3-D Full Tensor gravity gradient survey over the property. The company has received preliminary data, with final maps and reports expected in the second week of February. The large feature under the northern portion of the lake with complex but coincident magnetic and electromagnetic zoning is clearly evident on preliminary gravity maps.

EMPULSE Geophysics Ltd. commenced a 68 line-kilometre ground-based AMT (audio-magnetotelluric) survey over Pasfield Lake last week. Four widely spaced lines will be completed before the end of February. The grid covers the large magnetic-electromagnetic feature under the northern portion of the lake. It will also improve the delineation of the drill-intersected clay-bound fault near the northwest shore of the lake that is coincident with a northeasterly trending conductor that is along a sharp magnetic gradient, as defined by the 2006 V-TEM airborne survey.

The Property is located in the eastern Athabasca Basin in northern Saskatchewan. It is approximately 60 kilometres northwest of the Cigar Lake Mine, the second largest high-grade uranium deposit in the world. It is 35 kilometres south of the northern extension of Highway 905 that connects Points North and Stony Rapids. The property currently consists of two Mineral Prospecting Permits that total 86,804 hectares; permit reduction to claims will be done in 2007.

Triex has the right to acquire an 80% interest in the Pasfield Lake Property from Thelon Ventures Ltd. (see news release dated March 28, 2006). Triex has informed Thelon Ventures that it has earned a 51% interest in the property.

Ross McElroy, P.Geo., Exploration Manager of 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 2007 exploration budget of $8.7 million.


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
    (604) 687-6680
    (604) 687-1448 (FAX)