Abitex samples 40% Cu, 0.67% U3O8 at South Bienville

2009-01-28 17:37 ET - News Release

Mr. Yves Rougerie reports

ABITEX AND AZIMUT DISCOVER MINERALIZATION WITH MORE THAN 40% CU AND UP TO 0.67% U3O8 AT SOUTH BIENVILLE, NUNAVIK, QUEBEC

Abitex Resources Inc. and its partner Azimut Exploration Inc. have released encouraging results from their summer 2008 exploration program at the South Bienville property in Nunavik, Que. A prospecting program assessed target areas that were previously defined using the positive results obtained from the 2007 exploration work, which included anomalous uranium values (up to 841 parts per million uranium) in lake-bottom sediments, helicopter-borne geophysics and ground-based prospecting (Azimut news in Stockwatch dated Oct. 30, 2007).

In 2007 and 2008, a total of 138 rock grab samples were collected from outcrops (51) and boulders (87). A showing of chalcocite (a copper-bearing mineral), discovered in a granite outcrop, yielded an assay value greater than 40 per cent copper and 12 grams per tonne silver. Abundant hematite veinlets and lesser amounts of disseminated pyrite and pyrrhotite were also observed, as well as silicification. The showing is located in an area underlain by a major structure that correlates with a multikilometre copper anomaly in lake-bottom sediments, with values up to 316 parts per million. This target is considered highly attractive.

Other outcrop samples returned assays up to 0.67 per cent U3O8, and boulder samples yielded assays up to 0.77 per cent U3O8. Uranium-bearing rock samples are spatially related to multikilometre helicopter-borne radiometric anomalies and lake-bottom sediment anomalies. Uranium results are as follows:

• Eight samples with values above 0.05 per cent U3O8, including: 0.67 per cent U3O8 and 0.065 per cent U3O8 from outcrops, and 0.77 per cent U3O8, 0.097 per cent U3O8 and 0.087 per cent U3O8 from boulders;
• 39 samples with values between 0.01 per cent and 0.05 per cent U3O8;
• 91 samples with values less than 0.01 per cent U3O8.

The U/Th ratios for eight samples above 0.05 per cent U3O8 range from one to 50. Scintillometer readings from mineralized outcrops with values above 0.05 per cent U3O8 range from 4,200 to 15,000 counts per second. Mineralization is hosted mainly in pegmatite and granite. Uranophane (a secondary uranium mineral) was observed at several mineralized outcrops.

Data interpretation is nearly complete and will be used to define the 2009 follow-up program. Azimut has been the project operator for the last two years. The property consists of 10 claim blocks totalling 1,929 claims and a surface area of 935 square kilometres.

This press release was reviewed and approved by Yves Rougerie, PGeo, Abitex's qualified person under National Instrument 43-101. Fieldwork was conducted by IOS Services Geoscientifiques Inc. of Saguenay, Que. All rock samples were assayed at the Saskatchewan Research Council laboratory in Saskatoon, an ISO-IEC 17025 accredited facility.

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