International Enexco Limited
TSX VENTURE : IEC

International Enexco Limited

December 09, 2010 09:00 ET

International Enexco Intersects 43.0 Meters at 0.49% Copper at Contact Copper Project, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 9, 2010) - International Enexco Ltd. (TSX VENTURE:IEC) ("Enexco" or the "Company") is pleased to announce results from the first drill hole in its Fall 2010 Drill Program at the Company's 100%-owned Contact Copper Project, Nevada. Results include 43.0 meters of 0.49% Copper in hole EN-154.

Hole EN-154 is the first of a series of core holes to be drilled in preparation for a Feasibility Study on the project. The drilling follows the Update to the 2009 Prefeasibility Study (see IEC June 2, 2010 Press Release). In the PFS Update, the Mineral Resource was revised to 712 million pounds of copper (298 million pounds Measured and 413 million pounds Indicated within 135.2 million tons at 0.26% Cu), with an Inferred Resource of 291 million pounds of copper (53.5 million tons at 0.27% Cu) based on a 0.10% Cu cut-off.

Hole EN-154 was a vertical hole drilled for the purpose of testing the northern extent of mineralization and the depth to the main intrusive body which makes up 90% of the contained copper in the resource base. The hole was collared in siltstone, and drilled to a depth of 346.6 meters, encountering the main intrusive at 303.3 meters. From 260.3 meters to 303.3 meters, the hole encountered skarn mineralization consisting of pyroxene, garnet, chalcopyrite and bornite. The 43.0 meter interval graded 0.49% Cu, including 17.4 meters grading 0.89% Cu and 8.2 g/t Ag. The intercept lies outside of the current resource base. Two other intervals in the hole carried silver values greater than 25 g/t.

EN-154 From (m) To (m) Interval (m) Copper (%) Silver (g/t)
  131.4 132.6 1.2 1.50 40.6
  174.0 176.6 2.6 0.75 27.4
  260.3 303.3 43.0 0.49 4.3
   includes 272.2 289.6 17.4 0.89 8.2

The Contact Copper Project is planned as an SX-EW operation to produce 25 million pounds per year of copper by leaching predominantly oxide ore. As such, it remains to be determined if the mineralization encountered in EN-154 is amenable to leaching. Further drilling is underway to determine the potential extent of the new zone. Hole EN-154 lies 137 meters northwest of an earlier drill hole, CRC-04-01. Records show CRC-04-01 had similar mineralization, from 167.6 meters to 205.7 meters, with the 38.1 meter interval carrying 1.30% Cu. Records show that CRC-04-01 was not analyzed for silver.

The technical content of this news release was reviewed and approved by William Willoughby of Enexco who is a Qualified Person (QP) as defined by Canadian National Instrument 43-101. The analyses reported are final assays conducted by ALS Chemex, an ISO 9000 certified laboratory in Reno, Nevada.

Forward Looking Statements:

Certain statements in this news release, including those regarding production, costs, production, economics and other statements that express expectations or estimates of future performance constitute "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. Information concerning the interpretation of mineral resources and reserves may be deemed as forward-looking statements as such information constitutes a prediction of what might occur if and when a project is actually developed.

Forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by management, are inherently subject to significant uncertainties, contingencies and risks. Enexco cautions the reader that these statements involve factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. Further discussion of the risks is included within the PFS, and in the Company's annual filings filed on SEDAR. Enexco cautions investors and others that the list of factors may not be exhaustive and should carefully consider the uncertainties and risks in any decision that may be made from the Company's forward-looking statements.

ABOUT INTERNATIONAL ENEXCO

Enexco is a Canadian based advanced exploration company headquartered in Vancouver, B.C. In addition to its 100% owned Contact Copper Resource Property, the Company is exploring other prospective areas of Nevada, and has a joint venture with Cameco Corporation (52.5%), International 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

Paul McKenzie, Director, International Enexco Limited

"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