ROUYN-NORANDA, QC, Oct. 8 /CNW Telbec/ - Fieldex Exploration Inc. (FLX: TSXV and F7E: Frankfurt) is pleased to announce that it has acquired 2,300 hectares (23 sq.km) surrounding the very promising REE Lac Sairs' property located in the Kipawa alcalin complex 100 kilometres northeast of North Bay (Ontario) within northwestern Quebec near the Quebec-Ontario border.
The Lac Sairs' property is now comprised of 56 mineral claims, covering a surface area of over 3,200 hectares (32 sq.km).
"This is a very strategic acquisition because Fieldex will be very active in this rare earth alcalin complex in the coming weeks, a drilling campaign will take place as soon as we will receive the assays from the laboratory " said Martin Dallaire, president and CEO of Fieldex Exploration.
The property occurs within the Kipawa basin in Proterozoic Grenville Province. The basin comprised of metamorphosed and folded sedimentary sequences that have been intruded by composite intrusive bodies. The most important intrusive rocks on the property an alkaline intrusive complex, which is also folded along with the sedimentary host rock.
Drilling on Scott Property
The Scott property is a copper-gold property located 12 km west of the city of Chibougamau. The company intends to drill 2-holes, totaling 500 m as a first phase to test the Megatem anomaly published by the Natural Resources Ministry. A 400 square metre stripping has been executed by the company on the anomaly in 2007. For more details about Scott project, please visit the company website at www.fieldexexploration.com
Quality Assurance/Quality Control
Fieldex Exploration has implemented and adheres to a strict Quality Assurance/Quality Control program for gold which includes mineralized standards and blanks for each batch of samples. Assay samples are taken from drill core sawed in half with one half sent to a commercial laboratory and the other half retained for future reference. Analyses are either performed by Techni-Lab S.G.B. Abitibi inc. in Sainte-Germaine Boulé, Quebec, or by Laboratoire Expert Inc. in Rouyn-Noranda, Quebec, both accredited laboratories.
The work program is carried out under the supervision of Robert Sansfaçon, geologist and qualified person as per National Instrument 43-101.
Fieldex is a mineral resource company actively exploring in Quebec for nickel-copper-platinum group metal deposits located through out Northern Quebec, representing over 600 km(2). FNX Mining Company owns 6,500,000 shares of Fieldex Exploration Inc. Fieldex has 46,810,907 shares outstanding, a cash position of $2M and an investment of 800,000 shares in Visible Gold Mines Inc.
This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the ability of Fieldex to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements, including risks disclosed in filings with the Canadian securities regulators made by Fieldex. Accordingly, readers should not place undue reliance on forward-looking statements.
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 the release.
SOURCE Fieldex Exploration Inc.
For further information: For further information: Martin Dallaire, eng, President & Chief Executive Officer, (819) 762-0609, Fax: (819) 762-0097, firstname.lastname@example.org; www.fieldexexploration.com