Triex Minerals Corporation

Triex Minerals Corporation

September 17, 2007 12:22 ET

Triex Minerals Corporation: 2007 Hornby Bay Basin Exploration Completed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 17, 2007) - Triex Minerals Corporation (TSX VENTURE:TXM) ("Triex") and Pitchstone Exploration Ltd. (TSX VENTURE:PXP) announce the completion of their $2.4 million Hornby Bay Basin exploration program for 2007. Complete results will be released in the fall when all analytical data is in hand.

The 50:50 joint venture (the "Joint Venture"), with Triex as operator, is actively exploring four properties in the Hornby Bay Basin, including the Mountain Lake uranium deposit located 100 kilometres southwest of the coastal community of Kugluktuk, Nunavut. Total Joint Venture land holdings cover approximately 221,000 hectares. Location maps for the Mountain Lake, Dismal Lakes, Kendall River and Sandy Creek properties are available on the company's website (

Eleven diamond drill holes were completed during the 2007 program for a total of 2,818m. All drill holes were radiometrically probed with a Mount Sopris 2PGA-1000 poly-gamma probe. Three holes at the northern end of the Mountain Lake deposit intersected thin and weak zones of radioactivity and have effectively delineated the northern margin of the deposit. Eight holes were completed on two targets on the Dismal Lakes property. No continuous zones of significant radioactivity were intersected. More drilling is required to complete testing of the eastern-most target at Dismal Lake. Further targets on the Mountain Lake property (Helmut River and Jenny Lake) have yet to be drill tested.

The Mountain Lake deposit contains the only identified uranium resource in the Hornby Bay Basin (Inferred Mineral Resource of 8.2 million pounds U3O8, with an average grade of 0.23% U3O8 contained in 1.6 million tonnes of rock (see NI 43-101 Technical Report on SEDAR).

Data from the 2007 surface exploration will both refine existing drill targets, and potentially identify new ones with focus on three fields of radioactive sandstone boulders for which the sources of have yet to be identified. The boulder uranium content from these fields is similar to those spatially associated with the Mountain Lake deposit (see News Release dated April 26, 2007). Work in 2007 included:

- 375 line-kilometres of ground-based resistivity surveys over parts of the Kendall River, Mountain Lake and Dismal Lakes properties.

- Regional scintillometer prospecting and soil sampling on one kilometre spaced lines over most of the Kendall River, Dismal Lake and Mountain Lake properties, and parts of the Sandy Creek property. A total of 177 man-days were spent prospecting and collecting 3,659 soil samples. All samples have been shipped to the Saskatchewan Research Council for analysis. Data are not expected until October.

- Preliminary uranium extraction studies have been completed on a composite core sample from the Mountain Lake deposit.

Allan Armitage, Ph.D., P.Geol., is a Qualified Person as defined by National Instrument 43-101, and is responsible for program design and quality control of exploration undertaken by the Joint Venture in the Hornby 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 focused on uranium opportunities in North America. The company is working in three proven districts, advancing nine core projects which span grass roots reconnaissance exploration to advanced-stage resource delineation. The 2007 exploration budget is $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)