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International Enexco Limited

Publié le 21 janvier 2013

International Enexco Commences $6 Million, Three Rig Drill Program, on the Mann Lake Uranium Project

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Mots clés associés :   Canada | Copper | Uranium |
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Breaking News Release


International Enexco Commences $6 Million, Three Rig Drill Program, on the Mann Lake Uranium Project, Athabasca SK

  • 21,000 Metre Diamond Drill Program Underway
  • 3 Drill Rigs
  • Partnered with Cameco and AREVA
  • Denison Mines Strategic Investor

VANCOUVER, BRITISH COLUMBIA--(Jan. 21, 2013) - International Enexco Ltd. (TSX VENTURE:IEC)(OTCQX:IEXCF)(FRANKFURT:I6E) (the "Company" or "Enexco") is pleased to announce that the 21,000 metre (69,000 feet) diamond drill program on the Mann Lake uranium project has commenced by the project operator, Cameco Corporation ("Cameco"). Discovery Mining Services Ltd. has now completed the initial set up of the Three Mile Camp which will be the center base of the drilling operations for the exploration program. The camp can accommodate the first 20 people (2 drills). Collaring of the first drill holes on Mann Lake has commenced and full camp operations to accommodate a third drill is anticipated by the end of January 2013.

The budget for the 2013 program is CDN$6,000,000 with Enexco's portion being CDN$1,800,000. On November 29, 2012, Denison Mines Corp. ("Denison") subscribed for 3,600,000 units of the Company (each a "Unit") at a price of $0.50 per Unit for aggregate gross proceeds of $1,800,000 allowing Denison to own 5,400,000 shares of Enexco, which represents approximately 9% of the present issued and outstanding shares. Denison's strategic investment was proportional to Enexco's portion of the 2013 exploration program on the Mann Lake. Furthermore, on December 19, the Company announced that Ron Hochstien, the Chief Executive Officer of Denison Mines Corp. joined Enexco as a member of its Board of Directors.

The primary objective of the 2013 exploration program will be to drill test priority geological and geophysical targets along the C conductor trend over the entire length of the property and the possible expansion of the mineralization discovered during the 2006 - 2007 drill programs in the central part of the C conductor trend. High-grade mineralization was intersected in hole MN-013 during a 2006 drill program. This drill hole intersected 7.12% U3O8 over 0.25m and 5.53% U3O8 over 0.4m in the basement, 12m beneath the Athabasca unconformity surface. The 2013 drill program will allow for the evaluation for the presence of in situ mineralization, alteration and / or geochemical halos indicative of an economic deposit on the Mann Lake project.

The program in progress will consist of 28 drill holes with an additional 10 contingency holes, using 3 separate drills totalling approximately 21,000 m of drilling. Additional grid refurbishment and geophysical surveying is scheduled to be completed by February 2013.

Enexco is a 30% partner in a joint-venture with Cameco (52.5%) and AREVA (17.5%) to explore the Mann Lake Uranium Project in the Athabasca Basin in Saskatchewan.

Results from the proposed drill program will be published in subsequent press releases as they become available. In addition, Enexco anticipates receiving monthly progress reports and intends to release pertinent information on an as received basis. In the meantime investors are encouraged to discover the potentials of the Mann Lake property by visiting www.enexco.ca or by contacting the Company directly.

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.

About Mann Lake Uranium Project

The Mann Lake Uranium Project is located in the heart of what is undisputedly the most prolific and highest grade uranium region in the world, the Athabasca Basin in Saskatchewan. The Project lies 25 km southwest from Cameco's McArthur River Mine and is 20 km northeast from Cameco's Millennium deposit. High-grade basement-hosted uranium mineralization was discovered at Mann Lake during a 2006 drill program.

About International Enexco Ltd.

International Enexco Ltd is a North American exploration and development company focused on the feasibility stage Contact Copper Project in northern Nevada and the Mann Lake Uranium Project located in Saskatchewan's prolific Athabasca basin. The Mann Lake project is a joint venture with Cameco (52.5%) as operator, Enexco (30%) and AREVA (17.5%)-two of the world's largest uranium companies.

On behalf of the Board of Directors, I look forward to keeping you updated with our corporate developments.

G. Arnold Armstrong, President & CEO

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable. The TSX Venture Exchange or its Regulation Services Provider have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. We seek safe harbour.

 
International Enexco Ltd.

2060 -- 777 Hornby Street
Vancouver, B.C.
Canada V6Z 1T7
Office: + 1 604 669 8368

Visit International Enexco



as of 9:00am EST Jan 21, 2013

Recent Press Releases
From International Enexco:

Ron Hochstein Joins International Enexco as Director

Vancouver, Canada -- December 19, 2012 - International Enexco Ltd. (TSX-V: IEC; OTCQX: IEXCF; Frankfurt: I6E) ("Enexco") is pleased to announce that Ron Hochstein has joined Enexco as a member of its Board of Directors.

Ron has been the Chief Executive Officer of Denison Mines Corp. since 2009 and President since 2006. He has served as a director of Denison Mines since April 2000. Ron joined Denison in October 1999 as Vice President, Corporate Development and later served as Vice President and Chief Operating Officer. Prior to that, Ron was a Project Manager with Simons Mining Group and was with Noranda Minerals as a metallurgical engineer. Ron is a Professional Engineer and holds an MBA from the University of British Columbia and a B.Sc. from the University of Alberta.[...]

Vancouver, Canada -- December 14, 2012 - International Enexco Ltd. (TSX-V: IEC; OTCQX: IEXCF; Frankfurt: I6E) (the "Company" or "Enexco") is pleased to announce that further to its November 16, 2012 news releases, announcing a non-brokered private placement of 1,600,000 flow-through shares (each a "Share") at $0.60 per Share for proceeds of CDN$960,000 on a non-brokered private placement basis, the Company has closed and oversubscribed to 2,666,667 Shares for aggregate proceeds of CDN$1,600,000.

The net proceeds from the private placement will be used to fund Enexco's portion of a CDN$6 million exploration program at the Mann Lake uranium project in Saskatchewan. [...]

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International Enexco Limited

EXPLORATEUR
CODE : IEC.V
ISIN : CA45945G1072
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International Enexco est une société développant des projet miniers de cuivre et d'uranium basée au Canada.

International Enexco détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont LOOMIS, HOT POT PROJECT, MANN LAKE, CONTACT COPPER et MANN LAKE (JV) au Canada.

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Financements de International Enexco Limited
14/02/2014Announces Non-Brokered Private Placement
Nominations de International Enexco Limited
13/07/2011Appoints Spiros Cacos
24/06/2008Appoints Two New Directors
Projets de International Enexco Limited
27/01/2014Commences $2.9 Million Drill Program on the Man Lake Uranium...
10/12/2013International Enexco Gives a Base Metal (and Uranium) Balanc...
13/11/2013(Mann Lake)Announces $2.9 Million Drill Program, on the Mann Lake Urani...
10/10/2013(Contact Copper)Files Pre-Feasibility Study for Contact Copper Project, Neva...
01/10/2013(Contact Copper)Announces Positive Pre-Feasibility Study for Contact Copper ...
25/06/2013Announces Joint Venture with Denison Mines on Bachman Lake U...
27/03/2013(Mann Lake)Reports On the Mann Lake Uranium Project, Athabasca SK
19/02/2013(Mann Lake)JV Partner Cameco Adds Third Drill Rig On the Mann Lake Uran...
08/02/2013(Mann Lake)Minesite.com Article: International Enexco Sets The Drills T...
24/01/2013INTERNATIONAL ENEXCO (TSX-V: IEC) COMMENCES $6 MILLION, THRE...
21/01/2013International Enexco Commences $6 Million, Three Rig Drill P...
21/01/2013(Mann Lake)Commences $6 Million, Three Rig Drill Program, On the Mann L...
18/09/2012International Enexco Announces Positive Metallurgical Result...
18/09/2012(Contact Copper)Announces Positive Metallurgical Results from Contact Copper...
10/09/2012(Contact Copper)Completes Drill Program at Contact Copper Project and Report...
19/03/2012International Enexco Announces Additional Drill Results from...
24/02/2012International Enexco's Shares Power Ahead, As The Contact Co...
23/02/2012(Contact Copper)MINESITE.COM: International Enexco's Shares Power Ahead, As ...
16/01/2012(Contact Copper)Drill Program Update for Contact Copper Project, Nevada
28/11/2011(Contact Copper)Commences Drilling Contact Copper Project, Nevada
27/07/2011(Contact Copper)to Acquire Properties of Allied Nevada at Contact, Nevada
09/02/2011(Contact Copper)Rising Copper Prices Favor International Enexco
17/08/2009Positive Copper Pre-Feasibility Study Received
09/02/2009(Mann Lake)Drilling at Mann Lake Underway with Cameco as Operator
07/01/2009(Mann Lake)Cameco to Commence 3rd Enexco Drill Program at Mann Lake
29/09/2008(Contact Copper)Prepares to Drill Newly Optioned Boston Claim Group
21/08/2008(Contact Copper)Pre-Feas Study to Commence at Contact - New Resource Calcula...
Communiqués de Presse de International Enexco Limited
04/11/2013Announces Drill Results From the Bachman Lake Uranium Projec...
10/10/2013Mid=2DDay Breaking News From Zenyatta and International Enex...
09/09/2013Mid=2DDay Breaking News From International Enexco=2C Miracul...
26/08/2013Mid=2DDay Breaking News From Rango Energy and International ...
26/08/2013and Denison Mines Commence Drill Program on the Bachman Lake...
10/10/2012Mid-Day Breaking News From International Enexco, Gold Reach,...
10/10/2012(Contact Copper)Announces an Increase of 49% to 1.06 Billion Pounds of Coppe...
10/10/2012Announces an Increase of 49% to 1.06 Billion Pounds of Coppe...
27/08/2012Mid-Day Breaking News From Pelangio, International Enexco, S...
27/08/2012(Contact Copper)Confirms New Copper Target at Contact Copper Project (Nevada...
20/06/2012Todd Hilditch Joins International Enexco as Director
08/06/2012RESOURCE WORLD: INTERNATIONAL ENEXCO EXPANDING PROPERTY AND ...
23/05/2012Mid-Day Breaking News From International Enexco, CardioComm,...
23/05/2012(Contact Copper)Additional Drill Results from Contact Copper Project, Nevada
10/05/2012JOIN INTERNATIONAL ENEXCO LTD. AT THE 2012 NEW YORK HARD ASS...
26/04/2012Mid-Day Breaking News From International Enexco and Canada R...
19/03/2012(Contact Copper)Announces Additional Drill Results From Contact Copper Proje...
01/03/2012Mid-Day Breaking News From Mirasol, Novadx, Zimtu, Internati...
01/03/2012(Mann Lake)Announces Winter Geophysical Survey Planned at Mann Lake, Sa...
16/01/2012Mid-Day Breaking News From El Ni=F1o Ventures and Internatio...
28/11/2011Mid-Day Breaking News From El Nino, Millrock, Golden Touch, ...
11/07/2011Former Nevada Governor Jim Gibbons Joins International Enex...
01/12/2010President's Letter International Enexco
02/06/2010REPORTS 161% INCREASE IN MINEABLE COPPER AND 20.2% IRR, IN U...
11/08/2009S SHAREHOLDERS ON MULTIPLE DRILL PROGRAMS
09/06/2009signs JV with Nevada Exploration Inc.
02/06/2009has entered into an option agreement with Fronteer Developme...
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