International Enexco Limited
TSX VENTURE : IEC

International Enexco Limited

November 16, 2009 09:00 ET

International Enexco Ltd.: Drilling to Resume at Mann Lake, Athabasca Basin, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2009) - International Enexco Ltd. (TSX VENTURE:IEC) (the "Company" or "Enexco") reported today that drilling operations will resume at International Enexco's Mann Lake uranium project located in the eastern portion of the Athabasca Basin, Saskatchewan. Site preparations for a winter program will begin in December of this year, with drilling to commence as weather permits.

The Mann Lake project is a uranium exploration joint venture between International Enexco Ltd. (30%), Cameco Corporation (52.5%), and AREVA Resources Canada Ltd. (17.5%). The project is located approximately 25 km southwest of Cameco's McArthur River uranium deposit, the world's largest and highest grade uranium mine, and approximately 20 km northeast of Cameco's Millennium uranium deposit.

The forthcoming drill program, to be operated by Cameco, will consist of 4 to 5 diamond drill holes totaling approximately 3,000 to 3,800 m. Drill targets selected are from interpreted results of previous drill and ground exploration programs along the project's C conductor trend including 2009 drilling, gravity coverage and geochemical surveys. The C conductor trend extends north-south for approximately 5,000 m through the central portion of the Mann Lake property and is marked by both geochemical and structural anomalies. The proposed drill program will continue to focus on the C conductor trend by following these anomalies. Two holes will target a recently improved geochemical anomaly and large unconformity offset west of the previously drilled high-grade intersections discovered at Mann Lake in 2006 (7.12% U3O8 over 0.25 m and 5.53% U3O8 over 0.4 m) and located in the basement within 12 m of the unconformity (see Enexco June 20, 2006 news).

Two other holes will target the northern portion of the C conductor trend where 2009 drilling intersected 163.8 m of 1.74 ppm uranium and 1,006 ppm boron in the lower portion of the sandstone. The combined presence of boron and anomalous uranium are considered to be significant exploration guides for high-grade basement-hosted uranium in the eastern part of the Athabasca Basin.

An additional conductor, the approximately 3,500 m long D conductor is located 3,000 m east of the C conductor at Mann Lake. At least one hole may also be drilled to target the D conductor, which has not been drilled in any of the prior Mann Lake drill programs.

The geological information presented herein regarding the Mann Lake Project was reviewed by Mr. Mel Klohn, a Director of International Enexco and a Qualified Person (QP) as defined by Canadian National Instrument 43-101.

ABOUT INTERNATIONAL ENEXCO

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

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