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International Enexco Limited

Publié le 21 août 2008

Pre-Feas Study to Commence at Contact - New Resource Calculation Will Incorporate 28,400m of New Dri

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August 21, 2008

 

 

August 21, 2008                                                                    Ticker Symbol:  IEC (TSX-V)

 

International Enexco Commissions Pre-Feasibility Study on the Contact Copper Project, Nevada

28,400 Metres of New Drilling to be Incorporated into Updated Resource Calculation - Expansion and Infill Drilling Continues

International Enexco announced today it has retained Gustavson Associates, LLC of Boulder, Colorado to prepare an updated mineral resource estimate incorporating 28,400 metres (m) of new drilling and a Pre-Feasibility Study on Enexco's copper project at Contact, Nevada.  Gustavson Associates will initially focus on the copper oxide mineralization in the Phase 1 drilling area with an eye towards an open pit heap leach operation using solvent extraction-electrowinning (SX-EW) to produce cathode copper on-site.  The Pre-Feasibility Study is expected to be completed by Q1-09 upon conclusion of drilling currently underway in the Phase 2 area, and metallurgical tests, which are being completed at Resource Development Inc. in Wheat Ridge Colorado.

Arnold Armstrong, President & CEO, commented, "We are pleased to have advanced the project to the stage where Enexco has commissioned a detailed, Pre-Feasibility Study for Contact. This is a significant milestone on Enexco's path to production."

Enexco is working to develop the Contact project as an open pit, heap leach operation, amenable to shallow oxide copper mineralization in the Phase 1 and 2 areas.  The operation will use low cost solvent extraction-electrowinning to produce a readily saleable cathode copper product. Enexco continues to work to expand the Phase 1 and 2 areas oxide mineralization, as well as explore the deeper sulfide mineralization in the Contact area.

The initial work will focus on the copper oxide mineralization in the Phase 1 area, where a 4,680m drilling program was completed in 2007 (see March, 17, 2008 press release).  Oxide mineralization was found in all holes, including EN-2 (36m of 0.35% Cu), EN-3 (55m of 0.31% Cu), EN-4 (70m of 0.31% Cu), EN-6 (93m of 0.34% Cu),  EN-8 (64m of 0.45% Cu, EN-11 (62m of 0.42% Cu), EN-13 (59m of 0.36% Cu) and EN-15 (48m of 0.63% Cu).  The Phase 1 drilling is within an area of about 475m along strike of the historic Delano vein.

Since completing the first 18 holes in the Phase 1 area, drilling has been ongoing at the site with two company-owned and operated core drills.  Another 24 holes totaling 6,500m have been drilled in the Phase 1 area for in-fill purposes and to obtain material for metallurgical testing.  West of the Phase 1 area, the Company's Phase 2 area drilling program is nearing completion, where, so far, another 70 holes and 17,300m have been drilled.  The Phase 2 area drilling has potential to extend the copper oxide mineralization from the Phase 1 area west another 850m along strike.  Surface exposures show the mineralization is open along strike west of the Phase 2 area for at least another 1500m.  Permitting for a subsequent phase of drilling is underway to test the westward extension.  Drilling has also begun in the Phase 3 area south of Phase 2, centered around the deep, high-grade sulfide mineralization in drill hole PD-4.

Enexco is well financed with approximately $14M in the treasury, to carry out the current work that is leading to a technical/feasibility study of the Contact project scheduled for completion in 2009. The Company has 21,086,441 shares issued and on a fully diluted basis would have 22,621,441 shares outstanding.

Gustavson Associates, LLC., located in Boulder, Colorado is a global consulting firm providing geological, engineering, and environmental services on all aspects of natural resource evaluations, including mineral resources and reserves estimation, project financing, due diligence, feasibility studies, appraisals and valuations, and qualified person reports. Gustavson is majority owned by Walsh Environmental Scientists and Engineers, whose parent company is Ecology and Environment, Inc. (AMEX: EEI)  Resource Development Inc. (RDi) in Wheat Ridge, Colorado, provides mineral processing research RDi's specific experience in copper leaching offers a systematic and cost-effective approach to SX-EW projects.

ABOUT INTERNATIONAL ENEXCO

Enexco is a Canadian based advanced exploration company headquartered in Vancouver, B.C. In addition to its 100% owned Contact Copper Resource Property, the Company is exploring other prospective areas of Nevada, and has a strategic alliance with Cameco Corporation (35%), International Enexco (30%) and UEM Inc. (35%) to jointly develop the High-Grade Mann Lake Uranium Project located in the Athabasca Basin in Saskatchewan. Cameco is operator of the Mann Lake Uranium Project.

 

For further information on all of Enexco's projects, visit our website at: www.enexco.ca

 

Paul McKenzie, Director, International Enexco Limited

Tel: (604) 669-8368 Fax: (604) 642-2629

 

 

 

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."

 

.

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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