Abitex Reports Gold Assay Results for Lavoie Uranium-Gold Property
VAL D'OR, QC,
------------------------------------------------------------------------- Core Hole No. From To Length U3O8 Au ------------------------------------------------------------------------- m m m % g/t ------------------------------------------------------------------------- L-08-08 77.10 77.40 0.30 0.249 5.11 ------------------------------------------------------------------------- L-08-09 74.05 77.55 3.50 0.831 2.94 ------------------------------------------------------------------------- 76.05 76.55 0.50 5.354 20.00 ------------------------------------------------------------------------- L-08-10 74.15 74.65 0.50 0.217 0.93 ------------------------------------------------------------------------- L-08-14 33.25 34.25 1.00 0.157 1.53 ------------------------------------------------------------------------- L-08-15 88.35 92.15 3.80 0.207 2.94 ------------------------------------------------------------------------- 110.65 111.15 0.50 6.285 1.05 ------------------------------------------------------------------------- L-08-30 113.95 114.45 0.50 0.200 1.61 ------------------------------------------------------------------------- L-08-38 53.95 54.95 1.00 0.229 1.96 ------------------------------------------------------------------------- 57.25 57.75 0.50 0.678 25.30 ------------------------------------------------------------------------- L-08-39 65.75 72.15 6.40 0.270 4.92 ------------------------------------------------------------------------- 65.75 66.55 0.80 0.097 12.67 ------------------------------------------------------------------------- 69.05 70.45 1.40 0.330 5.80 ------------------------------------------------------------------------- 71.65 72.15 0.50 0.368 23.90 ------------------------------------------------------------------------- L-08-43 71.15 71.65 0.50 3.667 3.47 -------------------------------------------------------------------------
Yves Rougerie, President & CEO reports: "We are very pleased with these results which confirm the gold enrichment of the "L" deposit as originally determined in the 1980's. Visible gold sightings in core and the multiple historic and recent high grade assay values indicate the presence of a high grade gold component to the "L" deposit mineralization. This gold content will certainly have a positive impact on the project economics going forward."
The following table lists the significant gold intersections tabulated from the various drill programs on the "L" uranium deposit between 1982 and 1985:
------------------------------------------------------------------------- Core Core Hole No. From To Length Au Hole No. From To Length Au ------------------------------------------------------------------------- m m m g/t m m m g/t ------------------------------------------------------------------------- OEBL-41 116.90 120.10 3.20 2.22 OEBL-137 58.60 59.60 1.00 2.16 ------------------------------------------------------------------------- OEBL-44 90.50 91.10 0.60 2.21 and 61.10 63.10 2.00 1.57 ------------------------------------------------------------------------- OEBL-45 91.00 93.00 2.00 1.89 OEBL-139 61.65 62.65 1.00 5.51 ------------------------------------------------------------------------- OEBL-60 66.70 67.95 1.25 15.62 and 63.65 64.90 1.25 1.34 ------------------------------------------------------------------------- OEBL-74 128.25 130.00 1.75 3.27 OEBL-145 53.70 55.40 1.70 17.10 ------------------------------------------------------------------------- OEBL-129 46.10 46.35 0.25 7.23 OEBL-154 22.82 24.32 1.50 2.26 ------------------------------------------------------------------------- OEBL-133 57.85 59.10 1.25 12.71 OEBL-156 51.55 53.05 1.50 3.12 ------------------------------------------------------------------------- and 82.45 82.95 0.50 22.02 OEBL-160 46.35 47.85 1.50 1.60 ------------------------------------------------------------------------- OEBL-135 55.90 56.40 0.50 3.60 OEBL-163 116.55 117.05 0.50 2.64 ------------------------------------------------------------------------- OEBL-136 42.95 45.45 2.50 16.18 -------------------------------------------------------------------------
Uranium-Gold deposits are quite uncommon. Abitex's Lavoie and Epsilon projects in the Central Otish area appear unique in this regard as none of the other significant U occurrences in the Otish Basin have reported any significant gold or polymetallic grades to date. Structurally controlled high grade uranium mineralization in the Lavoie & Epsilon area was followed by a second phase of polymetallic mineralization which carries significant and locally high grade gold as well as significant silver and lead values. Early indications suggest the Epsilon property may host a more significant polymetallic auriferous component than the Lavoie property "L" deposit.
The "L" deposit contains a significant shallow depth historic U-Au resource and the Epsilon property's recent high grade U-Au discoveries by Abitex demonstrate significant near surface potential. In addition to these near surface zones, uranium-gold mineralization likely occurs at depth on both projects just as at Strateco's Matoush uranium project in the Western Otish. Furthermore, gold rich polymetallic mineralization may occur in those and other settings associated with the same structures controlling uranium mineralization transport and emplacement.
Abitex also announces the resignation of
Abitex further reports that the Company has granted a total of 2,205,000 stock options to directors, officers, employees or consultants at an exercise price of
The technical information in this release has been prepared, reviewed and approved by Yves Rougerie, P.Geo., President and CEO of Abitex.
The Company's public documents may be accessed at www.sedar.com
For further information on the Company, please email us at [email protected]
------------------------------------------------------------------------- Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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For further information: Yves J. Rougerie, President and CEO, (819) 874-6200, [email protected]
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