International Enexco completes drilling program on Contact Copper project and announces pending results
Vancouver, Canada - September 10, 2012 - International Enexco Ltd. (TSX-V: IEC; OTCQX: IEXCF; Frankfurt: IE6) (the “Company” or “Enexco”) is pleased to announce the latest outstanding results from the 2011-2012 drill program. The Contact Copper project (“Contact”) is 100% owned by Enexco. All sample results from the program are now being incorporated into an updated mineral resource estimate expected in the fall. In addition, a full investigation of the 2011-2012 exploration program is underway. This is intended to determine further explorations and advance development steps for the ongoing development of Contact. Management is focused on additional unexplored targets that are extensions of Contact or new areas within the district that present new opportunities for copper mineralization.
Highlights of the outstanding sample results to be announced today:
• All samples completed, 42.418 foot (12.932 m)
• 0,40% copper over 90 foot (27 m) in EN-172
• 0,57% copper over 20 foot (6 m) in EN-178
• 0,44% copper over 27 foot (8 m) in EN-180
• Acutalization of the mineral resource in progress
“The successful completion of our drilling program marks another step in the evolution of Contact and allows us to update the resource estimate and steer it into a feasibility study. Although our focus is on the existing resource area, we are delighted with our overall land position that we own and allow us to identify and ultimately drill additional areas for exploration, ”said President & CEO Arnold Armstrong.
Drilling at the eastern end of the project this year added another 3.000 feet (914 m) at strike length to the already determined copper oxide mineralization, which now extends to a length of 7.250 feet (2.210 m). Today's results include 10 core holes; Eight of them were drilled in the eastern extension of it towards the fall line of the copper-bearing zones that were determined earlier this year. The remaining two core holes were drilled in the Western End as fill holes and showed continuity of the previous holes. Nine holes drilled by 10 contained nine multiple sections of copper oxides and grades above 0,10% copper. EN-172 selected the thickest continuous interval with 0,40% Cu over 90 feet (27 m) in the reverse direction of the already reported RC holes ENR-8 and ENR-14.
The current mineral resource for the Contact Copper Project is the 2010 estimate with the NI 43 101Technical Report and the Updated Feasibility Study for the Contact Copper Project, Elko County, Nevada, as available on SEDAR.
Note: All intervals are calculated using an operating threshold limit of 0,1% Cu and a minimum width of 20 feet (6,1 m) and no internal trash zones> 15 feet (4,6 m) in length are intended. None of the holes described above are included in the October 43 NI 101-2010 Resource Estimate. The samples from the Contact Copper project drill program were prepared and analyzed by SGS Minerals Services in Toronto, Canada an ISO / IEC 17025 certified laboratory.
Map of the location of the boreholes to the east
Map of the borehole layers in the west
About the Contact Copper project
The Contact Copper project is a copper oxide project located in Elko County, Nevada. The plan is to use the cost-efficient SX-EW output to produce cathodic copper. To date, the company drilled 42.418 foot (12.932 m) into 58 backwash and 24 core drilling. The results have already been announced in various press releases and the outstanding results of the 10 core holes are shown in the table above. For more information, visit Enexco's website at http://www.enexco.ca/s/contact_copper.asp and the October 2010 Technical Report "NI 43-101 Technical Report Pre-Feasibility Study Update for the Copper Project, Elko County, Nevada "as announced on SEDAR.
Qualified person
William Willoughby, Ph.D., PE is the Qualified Person for the Company under the rules of the National Instrument 43-101 and prepares or oversees the preparation and disclosure of the data of both scientific and technical information in this news release.
About International Enexco Ltd.
International Enexco Ltd is a North American exploration and development company focused on the feasibility of the Contact Copper project in Northern Nevada. The company is also tracking gold and silver exploration in Idaho and Nevada and is advancing the Mann Lake uranium project in Saskatchewan's prestigious Athabasca Basin. This project is a joint venture with Cameco as operator and Areva - two of the world's largest uranium companies.
On behalf of the Board of Directors. I am pleased to keep you informed about the development of our company.
"G. Arnold Armstrong ”
President & CEO
Further information:
Tel: + 1 604 669 8368 Fax: + 1 604 662 3231
Email: [email protected] or www.enexco.ca
2060 - 777 Hornby Street, Vancouver, BC, Canada, V6Z 1T7
Forward-looking statements
Disclaimer: This press release may contain forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act of 1934. All statements and other statements on historical facts presented here are forward-looking statements that involve various risks and uncertainties. There is no assurance or guarantee that such statements will actually occur or be accurate and actual results or statements in the future and their results could differ materially. Important factors affect the results and change exchange rates, political risks, legislation and much more. The company's expectations are published by the Toronto Stock Exchange, British Columbia Securities Commission, and the United States Securities & Exchange, respectively.
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