Argex Titanium Starts Exploration Program at Lac Brule
Thursday, February 7, 2019 7:30 AM
MONTREAL, QC / ACCESSWIRE / February 7, 2019 / Argex Titanium Inc. (TSX: RGX) ("Argex") is pleased to announce that it has mandated ASDR Canada Inc. to conduct exploration at its 100% owned Lac Brûlé property, located 64 km from Labrieville, on Quebec's North Shore, near the Hydro-Quebec Bersimis 2 power plant site. The anomaly is located approximately 700m from the road.
The geologists from ASDR Canada intersected at least two massive hemo-ilmenite lenses last year and some of the highlight intercepts were (see press release of April 19, 2018):
Block A southern extension include:
- 35.8% TiO2 and 0.37% V205 over 28.2 meters from DDH LB-18-32
- 35.02% TiO2 and 0.37% V205 over 20.7 meters from DDH LB-18-26
Since then, Argex has increased the property by 32 claims for a total of 97 claims for a total area of 5,435 hectares to protect other undiscovered anomalies close to the ones already identified.
This year's program will be conducted in two phases over the coming months. The first phase is dedicated to defining the anomaly discovered in 2018 in more details in order to identify the physical limits of the hemo-ilmenite lenses, by drilling 800 m of Diamond Drill Holes (DDH) equivalent of up to 16 exploration holes to cover the total 2.4 km length of the anomaly and to determine its boundaries. The second phase, once the extensions are well identified, will be to conduct more drilling in order to define the resource.
Core samples from Lac Brûlé have been tested for composition as well as in the Argex labs for processing to Titanium Dioxide, and its properties are interesting for both ore use and incorporation into the Argex process as feed. The latest mandate is to further define the extent of the deposit and to evaluate compositions of core samples from expanded exploration drilling patterns.
"This property which is conveniently located near power and transportation facilities has already demonstrated evidence of significant mineral deposits from the 2018 work. We have contracted to pursue further exploration in order to determine the extent of the lenses at Lac Brûlé and the eventual commercial impact of this asset for Argex going forward" said Mr. Mazen Alnaimi, Chairman and Chief Executive Officer.
Louis Caron, P.Geo, a consultant to Argex, is the Qualified Person for the Lac Brûlé property under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, responsible for the technical contents of this news release, and has approved the disclosure of the technical information contained herein.
About Argex Titanium
Argex Titanium Inc. has developed an advanced chemical process for the volume production of high-grade titanium dioxide (TiO2) for use in high-quality paint, plastics, cosmetics and other TiO2 applications. The Corporation's unique proprietary process uses relatively inexpensive and plentiful source material from a variety of potential vendors to produce TiO2, along with other valuable byproducts. Argex's process provides a significant cost and environmental advantage over current legacy TiO2 production methods.
To stay informed on Argex Titanium, join our Investor Group on 8020 Connect at www.8020connect.com/groups/argex-titanium-inc.
This news release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of Argex, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate", "target" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Argex will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Argex's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in Argex's Annual Information Form for the fiscal year ended December 31, 2017, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. Argex does not intend, nor does Argex undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
Chairman and Chief Executive Officer | Argex Titanium Inc.
Contact person for mining:
Louis Caron Tel: 819-856-5436
SOURCE: Argex Titanium Inc.