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
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.
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).
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.
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.
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.
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.