ROUYN-NORANDA, QC, April 22, 2015 /CNW Telbec/ - Fieldex Exploration Inc. (FLX: TSXV and F7E: Frankfurt) is pleased to announce that drill hole CP-15-01 has intercepted three zones of disseminated sulfide mineralization on its Copper Point Property located 30 km southeast of Chibougamau, Québec.
The first disseminated sulfide zone of drill hole CP-15-01 has a length of 23.1 metres (from 36.5 to 59.6m), the second zone has a length of 9.0 metres (from 74.8 to 83.8 m) and the third zone has a length of 7.8 metres (from 128.7 to 136.5 m). Proportion of sulphides found in the core varies usually between 1 to 3% but exceed 5% in certain sections off the core. The sulphide mineralization is mainly composed of fine to coarse disseminated pyrite. Pyrite is also found within some stringers and veinlets. Rare pyrrhotites and traces of chalcopyrite are also observed but no graphite has been yet recognized in the core of drill hole CP-15-01.
The Copper Point Property is located in the northeast part of the Boisvert intrusion. This particular intrusion is located 30 kilometres southeast of the Chibougamau volcanic segment which is included within the northeastern part of the Abitibi volcano-plutonic of Northwestern Québec in the Archean Superior Province. The Copper Point Property is composed of 59 mining claims representing approximately 3,319 hectares or 33.19 km2. In 2014 and 2015, an IP survey was carried out on the Copper Point Property following the discovery of outcrops with some quartz veinlets and disseminated pyrite and chalcopyrite within sub–vertical dipping metasedimentary rocks. One grab sample notably recovered 2.5% Cu, 14.0 g/t Ag and 0.5g/t Au. Each north-east line of the cut–lines grid was only 600 metres in length and did not cover the property entirely. However, the IP survey exhibits a strong chargeability anomaly over a length of 1.4 kilometres and a width varying between 40 to 75 metres. The orientation N117° anomaly, sub–parallel to the direction of sedimentary units, matches with the regional tectonic orientations observed to the west, within the volcanic segment of Chibougamau. The anomaly is considered as a potential structural fabric of disseminated sulphides which could contain economic metals. The fabric may be included within a hydrothermal system which is sometimes found in volcanic and sedimentary rocks in the vicinity of tonalitic and granodioritic intrusions.
In order to validate if the mineralization contains economic metals, 19 samples including QAQC have been sent to the laboratory on April 14, 2015. Assays will be communicated as soon as they are available.
Copper Point Property acquisition
On March 19, 2015, Fieldex Exploration Inc. has entered into an acquisition and option agreement (see March 19, 2015 news release) with a prospector named Larry Desgagné. By completing the 200 metres drilling program (CP-15-01), Fieldex acquired an undivided 50% interest in the Copper Point Property.
Mr. Robert Sansfaçon, PGeo (OGQ), MSc, is the qualified person on the Copper Point Property under National Instrument 43‑101 Standards of Disclosure for Mineral Projects and was responsible for the technical contents of this press release and has approved the disclosure of the technical information contained herein.
Fieldex Exploration has implemented and adheres to a strict Quality Assurance/Quality Control for the current drill programs. It includes one mineralized gold standard, one duplicate and one blank for each batch of samples. Analyses are performed by ALS Chemex, Val-d'Or, Québec, or Techni-Lab, Ste-Germaine-Boulé, Québec, both accredited laboratories.
Fieldex is a mineral resource company actively exploring in Québec for base and strategic group metal deposits located in the province of Québec. Fieldex has 84,686,798 common shares outstanding.
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
SOURCE FIELDEX EXPLORATION INC.
For further information: Martin Dallaire, eng., President and Chief Executive Officer, Tel.: (819) 762-0609, Fax: (819) 762-0097