Triex Minerals Corporation

Triex Minerals Corporation

September 11, 2007 09:00 ET

Triex Minerals Corporation: Exploration Update for the Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 11, 2007) - Triex Minerals Corporation (TSX VENTURE:TXM) ("Triex") continues to advance its diverse portfolio of properties in the Athabasca Basin, and is pleased to announce that drilling is underway at the Pasfield Lake property, along with a concurrent program of prospecting and ground geophysical surveys at the near-by Stony Road property. At Cochrane River, a summer program of early-stage target delineation work was completed in August, and at Mann Lake, drilling is planned for November, following completion of the Pasfield program. Property location maps can be viewed at the company's website at

Pasfield Lake Property

Drilling has commenced at Pasfield Lake, located in the eastern Athabasca Basin in northern Saskatchewan. The Property 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.

A fence of four holes is planned across the regional structure that bounds the western margin of an uplifted block of basement rock. The block is roughly eight kilometres across as defined by previous airborne and ground geophysical surveys. It was confirmed by first-pass drilling in the spring of 2007 when basement rocks of granite gneiss and graphitic metapelite were intersected at 300 metre depth, compared to depths of 900 metres and greater elsewhere in the region (see news release dated May 1st, 2007). All drill holes will be probed using a Mount Sopris 2PGA-1000 down-hole poly-gamma probe. Geochemical samples of core will be processed at the Saskatchewan Research Council laboratories in Saskatoon, Saskatchewan.

Continued drilling is planned for the upcoming 2008 winter drill season starting next January.

Triex has the right to acquire an 80% interest in the Pasfield Lake property from Thelon Ventures Ltd. Triex currently has a 60% interest in the Property, and is the Operator. The property consists of 16 claims covering a total area of 66,811 hectares.

Stony Road Property

A surface program of geophysics and geochemistry will be done on the Stony Road property during the next six weeks, concurrent with drilling at Pasfield Lake. Crews will be based out of the Pasfield Lake camp located some 40 kilometres to the southwest of the property.

The Stony Road property is located on the northern extension of Highway 905 in the northeastern part of the Athabasca Basin of northern Saskatchewan. The property is approximately 75 kilometres northwest of operating uranium mines at McClean Lake and Rabbit Lake.

EM Pulse Geophysics has been contracted to complete an audiomagnetotelluric geophysical survey (AMT) on four transect lines across the property. Concurrent till sampling and prospecting will augment the AMT survey. This program will concentrate on two main targets identified by an airborne MEGATEM II survey (magnetics and EM) completed in 2006, and a 3,158 line-kilometre 3-D Full Tensor gravity gradient airborne survey completed in May 2007.

First pass drill testing of at least one of the targets is anticipated for the upcoming 2008 winter drill season starting next January.

Triex has the right to acquire a 70% interest in the Stony Road property from Magnum Uranium Corp. The property consists of 15 contiguous mineral claims covering a total area of 73,996 hectares. Triex is the Operator.

Mann Lake Property

A six week diamond drill program is planned for the Mann Lake property starting in November 2007. This program will follow up on pervasive clay alteration identified in Athabasca Group sandstone for up to 90 metres above the unconformity in Hole MN06-002 completed last fall. Hole MN06-002 is located on an east-west structure which is defined by a ground-based gravity survey and is also evident as a cross-cutting feature on a high resolution, airborne magnetic and EM survey. Four holes are planned for a total of 3,000-3,500 metres and will test in more detail the mineral potential of the structure.

The Mann Lake property is located in the eastern Athabasca Basin in northern Saskatchewan. It is approximately 25 kilometres southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world, and approximately 15 kilometres to the northeast of Cameco Corporation's recently discovered Millennium Deposit. The Mann Lake area is being actively explored. Cameco Corporation continues to explore on their property immediately adjacent to the Mann Lake property, following up on basement-hosted uranium mineralization discovered during its 2006 summer drilling season.

Triex has the option to earn up to a 70% interest in the Mann Lake Property from Consolidated Abaddon Resources Inc. The property consists of one claim covering 3,473 hectares. Triex currently owns 51% and is the Operator.

Cochrane River Property

The Property is near the northeastern edge of the Athabasca Basin, in basement rocks approximately 80 kilometres northeast of Cameco Corporation's Eagle Point Mine. It is within the Wollaston-Mudjatic magnetic low transition zone, along which all of the major uranium deposits in the eastern Athabasca Basin occur.

A four week surface program of mapping, prospecting and boulder and till geochemistry was completed in August. This work will refine targets in four key areas that have been selected on the basis of previously completed work, including: high resolution airborne EM and magnetic surveys; ground resistivity surveys; an extensive lake sediment survey, and; a regional structural analysis based on the compilation of all available regional and property-scale geologic maps and mineral occurrences, and remotely sensed data sets (see News Release dated April 25, 2007).

Drill targets will be evaluated, and prioritized, later this fall once all analytical results are received from a total of 606 rock and till samples that have been sent to the Saskatchewan Research Council laboratories. First pass drilling is anticipated for the first or second quarter of 2008.

Triex has the option to earn up to a 70% interest in the Cochrane River property from Uranerz Energy Corporation. The property consists of seven mineral claims covering 28,012 hectares. Triex is the Operator.

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 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)