Vancouver, B.C. Dec. 17, 2018, Explorex Resources Inc. (the “Company” or “Explorex”) (EX:CSE; 1XE:FSE; EXPXF:US) is pleased to announce that crews have been mobilized to initiate the maiden drill program at the cobalt-manganese base metals Kagoot Brook project in New Brunswick.
Kagoot Brook Co-Mn Base Metals Project
Historical work at Kagoot Brook has delineated two drainages, two kilometres apart, that exhibit a series of remarkably anomalous cobalt values up to 6,000 ppm* in the silts (see Company news releases dated May 31 and February 14, 2018).
Recent follow-up stream silt sampling programs performed by the Company revealed:
- a significant concentration of and a strong relationship of cobalt with manganese and associated base metals (nickel, copper, lead and zinc);
- the relative percentage of the cobalt to manganese indicates a favourable high cobalt tenor (i.e. grade component); and
- a distinct upstream cut-off of the cobalt mineralization (see Company news release dated November 5, 2018).
The project area is blanketed by a thin till cover with little or no outcrop and the in-stream silt grade cut-offs are interpreted to closely reflect the southern contact of the underlying mineralized horizon. The grade cut-offs align well with stratigraphy adding confidence to the >2 km inferred potential length of mineralization along the geological trend.
Kagoot Brook Drill Program
The Company is taking advantage of a window of opportunity presented by a local drill company to complete two holes prior to the Christmas break. This initial two hole, 500 metre drill program is limited in scope and designed to drill one partial transect across the target stratigraphy within the 4 x 1 kilometre target area.
Due to the near-Christmas timing of the drill program, it is anticipated that the core will be processed when the technical crew returns to the Project in the new year, with results reported thereafter.
No drilling has ever been conducted and no source of the historic geochemical anomalies is known on the property.
*Note: The stream silt samples reported in this release are solely designed to show the presence or absence of mineralization and to characterize the mineralization. Silt samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the projects.
Technical Information in this news release has been reviewed by R. Kemp, P Geo., a Qualified Person as that term is defined in NI 43-101.
About Explorex Resources Inc.
Explorex is an exploration company focusing on Cobalt and metals critical to rechargeable battery technology with the support of a strong strategic partner and end user. Explorex has a developing portfolio of multi-stage projects including an LOI to acquire the Hautalampi Co-Cu-Ni deposit in Finland, is earning a 75% interest in the Kagoot Brook project in New Brunswick and has 100% interest in the early stage Handlebar Co-Cu-Ni Project northeast of Kamloops BC.
On behalf of the Board,
Gary Schellenberg, CEO
For further information, please contact Gary Schellenberg – CEO or Mike Sieb – President; phone 604.681.0221 or Ron Birch at email@example.com; phone 1-800-910-7711
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.