VANCOUVER, Oct. 16 /CNW/ - Solex Resources Corp. (TSX-V: SOX) ("Solex" or
the "Company") today announced the completion and subsequent filing of an
independent technical report on the Company's 100% owned Pilunani lead-zinc
property in the Puno Department in south-eastern Peru.
"This report highlights the significant potential at the Pilunani
property and further confirms the high grade lead-zinc mineralization
surrounding the old mine," said Jonathan Challis, President of Solex Resources
Corp. "We intend to seek a joint venture partner to further advance the
The Report concludes that the Pilunani property shows good potential to
host a viable mining operation, in particular when taking into account the
high grade lead-zinc values characterizing the mineralization near the old
mine and when compared to current and past producing mines in Peru. The Report
recommends completing an Induced Polarization survey over the old mine area
and in the region of drill hole PIL-07-18, followed by a 1,500 metre drilling
program to adequately test the mineralized horizon of the old mine at a
minimum depth of 100 metres. Previous exploration work has barely scratched
the surface of this high grade mineralized zone and could potentially add to
the size of the anomaly.
The Company commissioned and received the independent technical report on
the Pilunani property in accordance with National Instrument 43-101 Standards
of Disclosure for Mineral Projects. The October 15, 2008 Report was prepared
by independent consulting geologist, Alain Vachon, P.Eng. Geologist. Mr.
Vachon, a Qualified Person under NI 43-101, has actively been involved in
mineral exploration, mine development and mining operations in Peru and Canada
during his career. To review this document in its entirety, please visit the
Company's website www.solexresources.com or www.sedar.com.
The Pilunani property concession is 100% owned by Solex and is not
subject to any royalties, back-in payments or other agreements. The Pilunani
Property is part of a larger claim package known as the Pilunani Project,
which comprises 14 mining concessions totalling 11,400 hectares.
Solex acquired the property in 2004 and since then has completed
geophysical surveys, mapping and geochemical sampling that led to the
identification of four distinct anomalous zones with lead and zinc values
greater than 1% within a 1 km(2) area surrounding the old mine. This led to
two drilling programs.
About Solex Resources Corp.
Solex Resources Corp. is the dominant landholder in southern Peru's
Macusani Uranium District with concessions covering over 904 km(2). In 2008, a
$5.5-million exploration program is being carried out on the Company's
Macusani East joint ventured uranium project. The Company is also aggressively
exploring its three 100% owned Macusani uranium projects. A NI 43-101 report
was filed on the Princesa silver, lead and zinc property on June 2, 2008.
The TSX Venture Exchange (the "Exchange") has not reviewed and does not
accept responsibility for the accuracy or adequacy of this news release. The
Exchange has in no way passed upon the merits of the proposed transaction and
has neither approved nor disapproved the contents of this press release.
This news release may contain forward-looking statements that are based
on Solex's expectations, estimates and projections regarding its business and
the economic environment in which it operates. These statements are not
guarantees of future performance and involve risks and uncertainties that are
difficult to control or predict. Therefore, actual outcomes and results may
differ materially from those expressed in these forward-looking statements and
readers should not place undue reliance on such statements. Statements speak
only as of the date on which they are made, and the Company undertakes no
obligation to update them publicly to reflect new information or the
occurrence of future events or circumstances, unless otherwise required to do
so by law.
For further information:
For further information: Deborah Thiel, V.P., Corporate Development,
Cell: (604) 512-9691, Toll Free: 1-877-646-4488, Email:
email@example.com, Website: www.solexresources.com