Triex Minerals Corporation

Triex Minerals Corporation

May 01, 2007 11:20 ET

Triex Minerals Corporation: Drilling is Complete and More is Planned at Pasfield Lake Property, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 1, 2007) - Triex Minerals Corporation (TSX VENTURE:TXM) ("Triex") is pleased to announce that the winter exploration program at Pasfield Lake is complete. Both drilling and geophysical results confirm the property's uranium exploration potential. Sub-Athabasca Group basement has been intersected at a depth of 300 metres, compared to depths of greater than 900 metres regionally. The exploration program is being accelerated with planning underway for phase two drilling this summer to test a portion of the northwestern margin of the basement uplift block. The Company's website ( contains a property location map, and all maps referenced below.

The Pasfield Property is located in the eastern Athabasca Basin of northern Saskatchewan. It is 35 kilometres south of the road that connects Points North and Stony Rapids, and 60 kilometres northwest of the Cigar Lake Mine, the second largest high-grade uranium deposit in the world.

The 2007 winter program of AMT (audio magnetotellurics) ground geophysics and diamond drilling follows up a 1,116 line-kilometre airborne V-TEM survey completed completed by Geotech Ltd. in January 2006, and a 1,616 line-kilometre airborne 3-D Full Tensor gravity gradient survey completed by Bell Geospace Inc. in January, 2007. Four AMT transects, totaling 63 line-kilometres, were completed. Hy-Tech Drilling Ltd. of Smithers, BC completed a total of 1,604 metres of diamond drilling in four vertical holes. Holes PF07-001 and PF07-002 were completed to target depth PF07-003 was ended prematurely in intensely altered basement rock, and the PF07-004 was abandoned in overburden. Basement rocks were intersected at depths of 310 metres, 326 metres and 292 metres in three widely spaced holes. Holes PF07-001 and PF07-002 were successfully probed with a Mount Sopris 2PGA-1000 poly-gamma probe. A total of 266 geochemical samples were submitted to the Saskatchewan Research Council, Saskatoon.

Pasfield is at the western margin of the Wollaston-Mudjatic magnetic low transition zone, within which all of the major uranium deposits in the eastern Athabasca Basin occur (see basin-scale total magnetic intensity map). Results to date from Pasfield Lake confirm the presence of a block of uplifted basement of regional significance. Geological, geophysical, geochemical, and structural features combine to form a large and integrated exploration target. Key results from the recently completed program include:

- The northern part of Pasfield Lake is underlain by a crudely circular and concentrically zoned magnetic low feature that is eight kilometers in diameter. (see property-scale compilation map).

- The Pasfield feature is a block of uplifted basement rock with at least 600 metres of vertical displacement relative to regional basement depths. The 300 metre basement depths confirmed under Pasfield Lake compare with depths of 896 and 940 metres intersected in two holes drilled in 1979 at Moss Creek, located 12 kilometres to the northwest.

- The northwestern margin of the block is interpreted to have a complex, step-fault pattern based on results from all four AMT lines (see AMT Line B profile). The regional Cable Bay Shear Zone corresponds with this margin (see Athabasca Basin property location map). The southeastern margin of the uplift block is equally well defined on AMT survey lines, and on 3-D inversion models of high-resolution magnetic data (see three-dimensional magnetic model).

- In the central part of the Pasfield feature, a north-south fault and associated low-density alteration zone have been interpreted by Bell Geospace Inc. from airborne gravity data. Drill results are consistent with the interpreted fault: Hole PF07-001 on the east side of the fault intersected granitic gneiss basement; Hole PF07-002 on the west side intersected graphitic meta-pelitic gneiss, and; Hole PF07-003 collared on the fault itself was terminated in bleached, intensely clay altered granitic gneiss basement rock (see property-scale compilation map).

- A northeasterly-trending V-TEM conductor is coincident with the surface trace of the Cable Bay Shear Zone where it forms the northwestern margin of the Pasfield Lake uplift block. The conductor splays east-west near the northern end of the lake, parallel to an interpreted east-west "step fault" that is defined on three of the four AMT lines (see property-scale compilation map).

- No anomalous radioactivity was encountered in the two holes probed with the gamma ray tool, but rock types and alteration are prospective. Pervasive bleaching is present in basement rocks at the unconformity in all holes. Hematite-filled breccia is present in basement granite gneiss in Hole PF07-001. More than 300 metres of graphitic garnet-mica metapelitic gneiss was recovered in Hole PF07-002 (see photo of metapelitic gneiss). Strongly graphitic fracture zones are common. Very minor amounts of mafic and alkaline intrusive rocks were recovered in Holes PF07001 and 002, but their character, origin and economic significance are not known. Hole PF07-003 was terminated in soft, bleached, intensely clay-altered granitic gneiss.

Previous exploration in the region in the 1970s identified a large and robust radiometric anomaly at the spring-fed headwaters of Moss Creek some 12 kilometres northwest of Pasfield Lake. Results included coincident anomalies of radon in water (more than 11 anomalous samples), uranium in stream sediment (more than 27 anomalous samples), and radioactive surface moss along the same three kilometre stretch of Moss Creek, along with helium in near-by soil gas. Three barren drill holes completed in 1979 span the length of the anomalous section of the creek (see property-scale compilation map). Based on a regional groundwater study, it was proposed that the uranium source for the Moss Creek anomaly is under Pasfield Lake, not Moss Creek.

Triex will test this model based on results from the drill program just completed. The presence of graphitic meta-pelites, strong alteration, basement uplift, faults which post-date and offset the unconformity, north-south features oblique to the northeast regional grain (such as at Millennium), and east-west shear zones oblique northeast-trending regional faults (such as at Moore Lake, Key Lake and Cigar Lake), together with the robust radiometric anomaly at Moss Creek with a source inferred to be under Pasfield Lake, all contribute to making Pasfield a proven and compelling exploration target.

The four key areas to be tested in subsequent drill programs are:

1. The on-land southern portion of Cable Bay Shear Zone where a vertical offset of 600 metres or more is evident.

2. The north-south fault inferred from gravity and proven by drilling in the central portion of the uplift block.

3. The east-west internal step faults and parallel V-TEM conductors in the northern part of the block.

4. The southeastern margin of the uplift block.

The AMT survey results indicate that the Cable Bay Shear Zone is one kilometre west of the lake shore on Line C and two kilometres west of the lake shore on Line D (see property-scale compilation map).

Triex has the right to acquire an 80% interest in the Pasfield Lake property from Thelon Ventures Ltd. (TSX VENTURE:THV) (see news release dated March 28, 2006). Triex currently owns 51% and is the Operator. The property originally comprised two Mineral Prospecting Permits covering 86,804 hectares. Following compilation of all previous exploration data, and completion of airborne geophysics, ground geophysics and surface geochemistry, staking of mineral claims within the permit holdings was completed in accordance with Saskatchewan regulations. The property now consists of 16 claims covering a total area of 66,811 hectares.

Ross McElroy, P.Geo., Exploration Manager at Triex, 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 Athabasca 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 eight 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)