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Micrex Development Completes Drill Program on St Charles Magnetite Project

Micrex Development has completed the 14-hole preliminary drilling campaign on its St Charles magnetite project.

The company has planned to continue the additional drill holes to analyze the southward and northward extension of the "Grand Saguenay" magnetite mineralization. It will also examine certain new magnetic anomalies. The completion of the preliminary drill campaign was delayed because of the strategic plan to employ a small drilling rig so as to reduce environmental impact on the forest. In addition, drilling water freezing also delayed the drill campaign this past winter. However, these aspects did not impact the company’s overall planning.

Micrex Development mainly conducted the drilling program to revise its 43-101 resources. At present, identified resources are sufficient to meet the expected demand for magnetite from the Atlantic seaboard and Québec which is projected to be more than 100,000 t of finished products per annum.

The preliminary drill campaign has successfully assessed the structure of the "Grand Saguenay" magnetite mineralization, as proposed by the wide aeromagnetic anomaly specified on the 2011 survey. The initial results indicate the occurrence of extensive mineralization across a steady width of 20 to 30 m, a length of 300 m, and trending at 160° and dipping at 50°-65°. The mineralization is exposed laterally towards the south and the north, and at depth.

In the IOS laboratory, core samples are being processed for magnetite recovery using density measurement and Davis tube testing. An ISO-17025 accredited laboratory, ALS-Mineral is currently the assaying the core samples.

Additional news will be forthcoming on lab results from Newcastle and Québec, England.

Source: http://www.mixcorp.com/

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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