Triex Minerals Corporation

Triex Minerals Corporation

January 24, 2008 09:30 ET

Triex Minerals Corporation: 2008 Hornby Bay Exploration Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 24, 2008) - Triex Minerals Corporation (TSX VENTURE:TXM) ("Triex" or the "Company") and Pitchstone Exploration Ltd. (TSX VENTURE:PXP) ("Pitchstone") are pleased to announce a $3.1 million exploration program for 2008 in the Hornby Bay Basin, Nunavut. The 50:50 joint venture between Triex and Pitchstone (the "Joint Venture") continues to actively explore four properties in the basin, which include the Mountain Lake uranium deposit. This year's drilling program is primarily designed to test for additional deposits in the district.

A $3.1 million budget for 2008 has been formally approved by the Joint Venture. The program includes 5,000 metres of diamond drilling in eighteen holes to evaluate untested targets at Dismal Lakes, Helmut fault area, Jenny Lake and Kendall River (property and target location maps are available on the Company's website at The program will also include a continuation of resistivity surveys, which proved effective in 2007.

Construction of an ice airstrip, and re-opening of the Kirwan Lake camp are scheduled for early-mid April, with drilling to start in late April. All drill holes will be radiometrically probed using a down-hole Mount Sopris 2PGA-1000 poly-gamma probe. Geochemical samples of core will be processed at the Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon. A partial digestion preparation and fluorimetric XRF analysis will be used, with a check by total digestion preparation and ICP analytical finish.

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). The tabular, stratabound deposit is exposed at surface at its southwestern end and dips less than ten degrees to the northeast. It is located approximately 100 kilometres southwest of the coastal community of Kugluktuk.

Triex is operator of the Joint Venture. Dr. Allan Armitage, Ph.D., P.Geo., 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 Hornby Bay 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 proven districts across North America. Twelve projects span grass roots reconnaissance exploration to advanced-stage resource delineation. The Company's exploration budget for 2008 is $6.4 million with 15,000 metres of drilling planned on six different properties.


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)