VANCOUVER, June 2 /CNW/ - Solex Resources Corp. (TSX-V: SOX) ("Solex" or
the "Company") today announced the completion of an NI43-101 compliant report
on the Company's Princesa lead, zinc and silver project in south eastern Peru.
The report identified an Inferred Mineral Resource of 4.6 million tonnes
grading 90.88 g/t silver, 1.66% lead and 1.69% zinc. The report also concludes
that the project has significant potential to increase these resources as the
main vein is open both on strike and at depth, and no provision has been
allowed for the potential discovery of other mineralised structures on the
"This report not only validates our geological interpretation of the
deposit and mineralized material estimate but it demonstrates the Princesa
project has upside potential," said Jonathan Challis, President of Solex
Resources Corp. "As a result of the report's conclusions, Solex has decided
not to seek a joint venture partner at the present time for its base metal
properties but is evaluating alternative strategies to add value for its
To view the Summary of the Resource estimate, please visit:
The report recommends the Company to carry out additional drilling on the
Princesa Vein to test its lateral and depth extension below 150 meters in
order bring the Inferred Mineral Resource to an Indicated-measured Resource
category, to complete complementary drilling on the V2 and V1b veins and a
systematic geochemical (rocks, soil and talus) sampling program, mapping,
trenching and exploratory drilling both on the NW extension of the Princesa
Vein. The cost of such program has been estimated at US$ 1.1 M.
The Princesa project is 100%-owned by Solex. The property was acquired by
Solex in 2004, after extensive exploration activities in the region near its
Pilunani project. The project includes five known silver veins which were
mined intermittently in the early 1960s. The Princesa property consists of
five claims covering 2,500 hectares located approximately 220 kms from the
city of Juliaca and is easily accessible by paved and gravel roads.
The Independent Qualified Person for the NI 43-101 Technical Report is
Alain Vachon, P Eng. Geologist of Services Geologiques A. Vachon.
To review the entire technical report, please view the Company's public
documents on www.sedar.com.
About Solex Resources Corp.
Solex Resources Corp. is the dominant landholder in southern Peru's
Macusani Uranium District with concessions covering over 904 km2. In 2008, a
$5.5-million exploration program is planned on the Company's Macusani East
joint ventured uranium project along with an initial National Instrument
43-101 report. The Company is also aggressively exploring its three 100% owned
Macusani uranium projects.
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, VP Corporate Development, Cell:
(604) 512-9691, Toll Free: 1 (877) 646-4488, Email: email@example.com,
Website: www.solexresources.com; Joanna Longo, Investor Relations, (416)
815-0700 ext. 233, firstname.lastname@example.org