VAL D'OR, QC, April 14 /CNW Telbec/ - Abitex Resources Inc. (TSX-V: ABE)
(the "Company") is very pleased to announce a significant new Uranium-Gold
discovery on its 100% owned Epsilon property in the Otish Mountains region of
Quebec. The new surface outcrop discovery is located approximately 15 km West
of Abitex's Lavoie property under option from AREVA Resources Canada ("ARC")
and SOQUEM Inc. where the Company has an all-weather camp and is engaged in a
definition drilling program on the historic "L" deposit which hosts an
historic resource of 5.9M lbs U3O8 (*) (Abitex Press Release of March 26, 2009).
Abitex believes the new Epsilon discovery is very significant in that it
occurs in the same setting as the "L" deposit and could potentially lead to a
similar important U-Au deposit discovery.
Two grab samples were taken from the Epsilon discovery outcrop. The
samples returned grades of 2.15% U3O8 and 17.25 g/t Au as well as 1.04% U3O8
and 8.69 g/t Au. The samples were taken from a mineralized sandstone unit
located at the same stratigraphic level as the "L" deposit and in proximity to
a large gabbro dyke. Observed mineralization at the new discovery is also
similar to the "L", consisting of disseminated radioactive and poylmetallic
minerals. Assays returned elevated values for lead (2.3%-0.9%) and silver (122
g/t-35.9 g/t), as well as anomalous bismuth and selenium, typical of "L"
After acquiring the Epsilon property in August 2008, Abitex contracted
Groupe Omégalpha Inc. of Joliette, Quebec to complete a close spaced
helicopter-borne spectrometric survey over the entire property. Follow-up
ground prospecting led to the discovery of a strongly radioactive hidden
outcrop zone on the slope of a steep, overburden covered and heavily vegetated
hill. Scintillometer (SPP2) readings readily exceeded 15,000 cps in at least
four locations over the 12 meter length and 1.2 meter height of the vertical
face of the outcrop which consists of laminated sandstones of the Peribonka
Formation. The presence of "L" type mineralization at the same stratigraphic
level and in close proximity to a large gabbro intrusive suggests a geological
setting very similar to that of the "L" deposit.
Mr Serge Genest, Ph.D., President of Groupe Omégalpha Inc. participated
in the prospecting campaign along with Abitex President & CEO Yves Rougerie.
Mr Genest completed his Doctoral Thesis on the geological history of the Otish
Basin at the University of Montreal in 1989 and worked with AREVA predecessor
SERU Nucléaire Canada Ltée ("SNCL") in the Otish over several years. He also
led AREVA's exploration arm in Quebec, Uranor Inc. from 1999 to 2008 and is
credited with the discovery of the CAGE uranium occurrence in Quebec's Ungava
region. Mr Rougerie, P.Geo., completed several field campaigns in the Otish
with SNCL/AREVA during the same period. Both have extensive experience and
expertise in Otish Basin geology and uranium exploration. Both worked on the
discovery and delineation phases of the "L" project. Both agree that the new
discovery on the Epsilon project is likely the most significant radioactive
mineralized zone ever discovered in outcropping sandstones in the Otish Basin.
Abitex is planning a significant follow-up exploration program for the
Epsilon discovery zone in 2009. Prospecting, stripping and trenching, mapping,
geophysics and sampling of the discovery zone are planned this summer followed
by initial drilling if warranted this fall. The Epsilon property consists of
102 claim cells covering approximately 5,352 hectares. The large property
contains several historic uranium occurrences which were discovered and
explored in the early 1980's by SNCL, including the lateral extensions of the
"S" showing, the original vein-type uranium-gold occurrence discovered in this
area of the Otish region and the A-29 zone located in the southern part of the
property. Over twenty drill holes were completed by SNCL on the property in
the 1980's, mostly stratigraphic holes which confirmed the numerous
similarities of the geological setting between the Epsilon and "L" properties.
The property lies outside any proposed parkland.
(*) : The historic resource estimate was completed in 1983 by SERU
Nucléaire Canada Ltée ("SNCL") and is taken from a report titled
"Projets Monts Otish: Evaluation des réserves de la partie
orientale de la zone 'L' " submitted to the Quebec Ministry of
Natural Resources for work assessment purposes (GM 57680). At that
time, SNCL completed a resource estimate which suggested the "L"
deposit could contain 385,000 tons grading 0.7% U3O8 for 5.9M lbs
U3O8. A qualified person has not done sufficient work to classify
the historical resource as current mineral resources and Abitex is
not treating the historical estimate as current mineral resources.
The historical estimate should not be relied upon.
ABITEX is an exploration and development company based in Val d'Or,
Quebec, which is currently focused on the definition drilling of the "L"
deposit in Quebec's Otish Mountains region. Abitex also has a 100% interest in
the Epsilon property located 10 km west of the Lavoie property where a new
high grade U-Au outcrop discovery similar to the "L" was made by the Company.
Abitex further has options to acquire majority interests in three regional
scale uranium exploration properties in northern Quebec totaling almost 2,300
km2 from Azimut Exploration. Abitex also has gold exploration assets,
including the Jolin project near Val d'Or, Quebec, which hosts a significant
historical gold resource.
The technical information in this release has been prepared, reviewed and
approved by Yves Rougerie. P.Geo., President and CEO of Abitex. Mr Rougerie is
a Qualified Person as defined by National Instrument 43-101.
The Company's public documents may be accessed at www.sedar.com.
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 J. Rougerie, President & CEO, (819)
874-6200, Fax: (819) 874-6202, firstname.lastname@example.org