progress on the consultation process for the U2 kimberlite project and a newly discovered area with anomalous Diamond indicator minerals at the Quebec Diamond project.
U2 Diamond Project
Metalex's President Chad Ulansky has been working over a two year period with the Attawapiskat and Marten Falls First Nations towards an agreement with respect to the collection and processing for diamonds of a 10,000 ton bulk sample from the U2 kimberlite. Drilling equipment capable of drilling 50 holes (60 centimetre diameter) to a depth of 360 metres as well as plant equipment capable of extracting an estimated 1,000 to 2,000 carats of diamonds would be transported along a 60 kilometer extension of the winter road supplying DeBeers' Victor Diamond Mine.
Quebec Diamond Project
Core drilling of discovered targets is expected to commence in January 2014.
The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.
Signed,
Charles Fipke
Chairman
Metalex is a Canadian based exploration company with strategic Canadian and international projects..
The Company has completed two 400 tonne bulk samples on two large kimberlite pipes located within 70 kilometers west of DeBeers' Victor Diamond Mine in the James Bay lowlands of Ontario. The Company is now undertaking a 10,000+ ton bulk sample on the U2 kimberlite pipe.
In northern Quebec the Company has two joint ventures. The first is for base and precious metals while the second is focused on diamonds. The Diamond joint venture has claims over 395 square kilometers where significant Diamond quantities have been found in preliminary outcrop samples from conglomeratic rocks. Of significance is the presence of coloured stones including a purple macrodiamond in these samples.
Internationally, the Company is exploring the headwaters of the highly diamondiferous Cuango River and has discovered 50 kimberlites. In Morocco, Metalex has an exploration license covering 17,100 km2 over one of the few unexplored cratons in the world. High quality G10 garnets recovered from sediment samples suggest that the source kimberlites could be high grade. In southwestern Greenland, abundant G10 garnets have been found in glacio-fluvial sediments around Smile Lake and work has focused on finding the kimberlite source of these high quality Diamond indicators..The Company also has exploration licenses in northern Mali where anomalous gold and base metals have been found in stream and soil samples.
Metalex Ventures is a exploration company based in Canada.
Metalex Ventures holds various exploration projects in Angola, in Canada and in Greenland.
Its main exploration properties are ATTAWAPISKAT, T1 (KYLE LAKE) and RING OF FIRE in Canada, UMIIVIIT/ SW GREENLAND in Greenland and ANGOLAN in Angola.