VAL-D'OR, QC, Feb. 24 /CNW Telbec/ - Abitex Resources Inc. (TSX-V: ABE)
("Abitex") and its partner Azimut Exploration Inc. (TSX-V: AZM) ("Azimut")
report encouraging results following the 2008 first reconnaissance program
performed on the Kangiq property in Nunavik, Quebec. Several uranium
prospects, with grades up to 0.94% U3O8, have been identified, including the
extension on the property of the Puqila Zone outlined on the adjacent Daniel
Lake property. These results further confirm the large-scale uranium
mineralized system discovered in 2006 in the region. The potential for
additional discoveries is clearly supported by the uranium airborne footprint
identified during surveys covering the property.
Work performed in 2008 comprised:
- Surface rock sampling and prospecting of the western half of the
property: 149 grab samples
- Mapping of the Puqila Zone
- 3,048 line-km of helicopter-borne spectrometric and magnetic surveying:
The 2008 program led to an improved understanding of the regional-scale
geological features controlling the distribution of the uranium
mineralization. On the property, many unexplored uranium airborne targets in
the three geological settings defined below, indicate a considerable
(a) Geological contact between the Archean basement and Proterozoic
metasedimentary rocks. This type of setting is considered highly
prospective for uranium on a worldwide basis. In the region, this
favourable geological contact is being explored along a 70 km
continuous strike length.
(b) Regional-scale late northwest-trending faults hosted in the Archean
(c) Favourable lithologies within the Proterozoic metasedimentary package
of the Lake Harbour Group. Reduced facies and carbonates represent
high priority targets that have been subject to very limited
exploration to date. The eastern part of the Kangiq property covers a
large portion of the Lake Harbour metasediments. Areva's Cage
property discovery in the same region is reportedly associated with
Proterozoic metasediments and carbonates in particular. Areva has a
large claim block adjoining the Kangiq property's eastern boundary.
The 149 grab rock samples collected to date at Kangiq indicate an average
uranium value of 460 ppm U3O8 (or 0.046%) for all samples, including 78
unmineralized or weakly mineralized samples, 927 ppm U3O8 (or 0.093%) for the
71 samples grading at least 100 ppm U3O8, and 1,350 ppm U3O8 (or 0.13%) for
the 45 samples grading at least 200 ppm U3O8. Corresponding U/Th ratios are
1.6, 2.3, and 2.9 respectively. In general, higher uranium values are
associated with an enrichment of uranium relative to thorium. The reported
average uranium values and U/Th ratios, determined through surface grab
sampling, are preliminary and of an indicative nature only.
Uranium-bearing rock samples are spatially correlated to multi-kilometre
helicopter-borne radiometric anomalies and lake-bottom sediment anomalies.
Uranium results are as follows:
- 24 samples with values above 0.05% U3O8, including: 0.94% U3O8, 0.51%
U3O8; 0.49% U3O8, 0.44% U3O8, 0.42% U3O8, 0.39% U3O8, 0.36% U3O8, 0.24%
U3O8, 0.20% U3O8, 0.20% U3O8, 0.18% U3O8, and 0.15 %U3O8.
- 53 samples with values between 0.01 % and 0.05 % U3O8;
- 72 samples with values less than 0.01% U3O8.
The U/Th ratios for 12 samples above 0.1% U3O8 range from 2 to 10. Most
mineralized facies are hosted in biotite-rich pegmatitic dykes.
Data interpretation for both properties is nearly complete and will be
used to define the 2009 field program. Fieldwork was conducted by IOS Services
Géoscientifiques Inc. of Saguenay, Quebec. All rock samples were assayed at
the Saskatchewan Research Council laboratory in Saskatoon, an ISO-IEC 17025
accredited facility. The helicopter-borne geophysical survey was performed by
Géophysique GPR International Inc., based in Longueuil, Quebec.
Azimut was the operator of the 2008 exploration program. Abitex has an
option to earn a 50% interest on the property from Azimut and an additional
15% interest upon the delivery of a bankable feasibility study. The Kangiq
property consists of a total of 1,743 claims covering 788 km2.
The content of this press release was approved by geologist Yves Rougerie
acting as Abitex's Qualified Person under NI 43-101. Abitex is an exploration
and development company based in Val d'Or, Quebec, which is currently focused
on the definition drilling of the "L" uranium deposit in Quebec's Otish
Mountains region and the ongoing acquisition of advanced exploration or
near-term production uranium assets.
The TSX Venture Exchange (TSX-V) does not accept responsibility for the
adequacy or accuracy of this release.
For further information:
For further information: Yves Rougerie, President and CEO, (819)
874-6200, Fax.: (819) 874-6202, firstname.lastname@example.org