Triex Minerals Corporation
TSX VENTURE : TXM

Triex Minerals Corporation

January 19, 2006 18:03 ET

Triex Minerals Corporation: Exploration Update for Athabasca Basin Projects

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 19, 2006) -

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Triex Minerals Corporation (TSX VENTURE:TXM) ("Triex") is pleased to provide updates for ongoing exploration programs at its West Carswell, Mann Lake and Wollaston NE properties located in the world's premier exploration district for high grade uranium deposits, the Athabasca Basin in northern Saskatchewan.

West Carswell Property, Saskatchewan

The winter exploration program at West Carswell commenced in mid-December. A winter drill camp has been established utilizing road infrastructure associated with the Cluff Lake Mine. Ground geophysics commenced prior to Christmas. A grid-based UTEM survey was completed on January 18th. A total of 49 line kilometres were surveyed by SJ Geophysics of Vancouver, B.C. Data are currently being processed and interpreted. This work complements two orthogonal MEGATEM II surveys completed over the property by Fugro Airborne Surveys (see October 25, 2005 news release).

Hy-Tech Drilling has been contracted to complete a roughly 4,000 metre diamond drill program on the property this winter. Targets are based on integrated magnetic and EM features associated with the MP Anomaly. The crew is on site. Drill site preparations are underway, with drill mobilization planned for next week. The program is budgeted at $1,000,000, and is expected to take ten weeks to complete, pending suitable winter drilling conditions.

The West Carswell Property is located approximately 15 kilometres southwest of the Cluff Lake Mine, and 20 kilometres northwest of the Shea Creek Deposit, in the southwestern part of the Athabasca Basin, Saskatchewan. This property comprises 8,157 hectares in two claim blocks. The West Carswell Property is 100% owned by Triex.

Mann Lake Property, Saskatchewan

The winter exploration program at Mann Lake commenced in late October with mobilization of a winter geophysical camp to the eastern shore of Marean Lake. Patterson Geophysics Inc. of La Ronge, Saskatchewan, started a moving loop TEM survey in mid-December and completed three, five kilometre long profiles by January 16th. Data are currently being processed and interpreted. MWH Geo-Surveys of Salmon Arm, B.C., mobilized a gravity survey crew to the camp on January 11th. Approximately 1,100 stations will be measured on 12 lines totaling approximately 52 line kilometres. Work is expected to be completed before month's-end. A follow-up program will be planned pending results of current work and complete integration with previous work.

Total budget for the ground geophysical program is estimated at $200,000. This work follows up on previous limited moving loop TEM and gravity surveys.

The Mann Lake Property is located in the eastern Athabasca Basin, approximately 25 kilometres southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world. This property comprises 3,473 hectares in one claim block. Triex has the option to earn up to a 70% interest in the property from Consolidated Abaddon Resources (see September 26, 2005 news release). Triex is the project operator.

Wollaston NE and Cochrane River Property, Saskatchewan

Airborne geophysics was completed on January 17th on the Wollaston NE and adjoining Cochrane River properties in northeastern Saskatchewan. Fugro Airborne Surveys completed helicopter-borne DIGHEM V geophysical surveys (EM and magnetic) over eight separate grids, four on the Wollaston NE property for a total of 2,802 line kilometres, and four on the Cochrane River property for a total of 1,949 line kilometres. Total budget is approximately $500,000. All grids were flown at 100 m line spacing to produce high resolution data. Grid areas covered major boundary zones on regional airborne magnetic maps, and on the location of known mineral occurrences, geochemical anomalies and previously defined conductors. Overall, the properties span the eastern margin of the Wollaston-Mudjatic Transition Zone along which several of the major uranium deposits in the Athabasca Basin, such as McArthur River, also occur.

Immediate follow-up with ground geophysics will be considered for the end of this winter season pending complete processing and interpretation of data, and integration with regional data sets. A follow-up exploration program including prospecting, mapping and geochemistry, as well as ground-based geophysics, is anticipated for the summer field season.

The property is located approximately 80 kilometres northeast of Cameco Corporation's Eagle Point Mine at the northeastern edge of the Athabasca Basin. The Wollaston NE Property comprises six Prospecting Permits (184,481 hectares) under a joint venture between Triex (51%) and Roughrider Uranium Corp. (49%). The Cochrane River Property comprises two permits which adjoin the southern boundary of the Wollaston NE Property and comprise a total of 67,480 hectares. Triex has the option to earn up to a 70% interest in the property from Uranerz Energy Corporation (see November 9, 2005 news release for a summary of the agreement). Triex is the project operator.

Ross McElroy, B.Sc., P.Geo., Senior Geologist for Triex Minerals Corporation, 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 Minerals Corporation. This release has been reviewed by Dr. Michael Gunning, Ph.D., P.Geo., President of Triex Minerals 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 separate districts in North America. Seven main projects span grass roots reconnaissance exploration to advanced-stage resource delineation. For further information, including property locations, visit the Company's website at www.triexminerals.com.

TRIEX MINERALS CORPORATION

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
    President
    (604) 687-6680
    (604) 687-1448 (FAX)
    www.triexminerals.com