International Enexco Ltd. (the "Company" or "Enexco") is pleased to provide an update regarding diamond drilling and geophysical surveying on the Mann Lake Uranium Project in the Athabasca Basin of Saskatchewan. Eleven holes have been completed of the planned 28-hole program, with a total of 9,524 m drilled to date in 2013.
In addition, Quantec Geoscience Ltd., of Toronto has completed 39 kilometres of a planned 69 kilometre SWML TDEM survey.
Of the eleven drill holes completed, elevated radioactivity was encountered in five drill holes on the eastern and western conductive responses of the "C" conductor trend.
Drilling on the eastern conductor encountered elevated radioactivity and weak mineralization in the basement section of drill holes MN-036 and MN-039. Drill hole MN-036 encountered a hydrothermally altered basement section with a number of intervals of elevated radioactivity and weak mineralization approximately 200 metres below the sub-Athabasca unconformity with 0.19% eU3O8 over 1.3 metres from 714.0 - 715.3 metres and 0.22% eU3O8 over 0.6 metres from 718.6 - 719.2 metres. (%eU3O8 grades are not chemical assays and are based on total gamma radiometric probing). MN-039 encountered weakly elevated radioactivity at 175 metres into the basement section over a 4 metre pegmatic interval from 690.5 - 694.5 metres. Drill holes MN-040 to MN-042 encountered alteration and favorable structure in the basal sandstone and intervals of graphitic stratigraphy in the basement section but no significant radioactivity.
Drilling on the western conductor encountered weakly elevated radioactivity in MN-037 in faulted and reduced sandstone between 406.9 metres and 407.5 metres. Drill hole MN-038 encountered weakly elevated radioactivity from 664.1 - 665.0 metres in pegmatite. Drilling in the area footwall to the western conductor in MN-035 encountered an altered sandstone section and weakly elevated radioactivity immediately below the unconformity in faulted graphitic stratigraphy. Although no significant mineralization was intersected, these results are encouraging.
Drilling will continue throughout March with drilling planned to follow-up the results of the geophysical survey in the northern portion of the property. Further evaluation of drill hole locations will continue in the area between Spring Lake and the southern claim boundary.
Qualified Person
William Willoughby, Ph.D., P.E. is the Company's Qualified Person for the purposes of National Instrument 43-101 and has prepared or supervised the preparation of the disclosure of any scientific and technical information contained in this news release.
Source: http://www.enexco.ca/