KELOWNA, BC, June 15 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX)
("Metalex") wishes to retract its news release of earlier today and is issuing
this release with the intent that it supercede and replace the prior release.
Metalex is pleased to report the completion of the fourth core hole and
progress on the fifth hole drilled into the large (approximately 24 hectare)
kimberlite discovery reported in the news release of April 1, 2009.
Hole four was drilled at the same site as the vertical hole 3 but
inclined (-55 degrees) towards the first two core holes located 283 meters
distant at a bearing of 158 degrees. Hole 4 intersected diatreme facies
kimberlite at 6 meters until 227 meters where it entered probable crater
infill sandstone. From 245 meters to 284 meters an alternating sequence of
fine grained magmatic kimberlite and probable crater infill siltstones was
intersected. From 284 meters to the end of hole at 359 meters probable crater
infill sandstone was intersected.
Hole 5 is located 524 meters south, south east at a bearing of 158
degrees from hole 4. From this location the drill was inclined -50 degrees at
a bearing of 338 degrees towards hole 4. Drilling intersected possibly crater
infill derived sandstone until 179 meters where kimberlite breccia was
intersected. The kimberlite breccia continued to 254 meters where fine grained
magmatic kimberlite was intersected through to 289 meters. Drilling continues
in probable crater infill sandstone at 382 meters.
Core from the first holes is in Luanda where it has now been approved for
export and is scheduled to depart via air cargo for Canada on Tuesday June
16th, 2009. Upon arrival the core will be processed for diamonds and diamond
indicator minerals at CF Mineral Research Ltd.
Metalex is pleased that the drilling of holes over 500 meters apart has
intersected kimberlite. This drilling confirms the large size of the
Dr. Charles Fipke, a qualified person, is responsible for the technical
content of this release.
Chad Ulansky, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Chad Ulansky, President & CEO, (250) 860-8599,