KELOWNA, BC, Oct. 20 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX)
("Metalex"), is pleased to announce the discovery of 19 new kimberlites and
provide an update on the drilling of the large (approximately 24 hectare) M007
kimberlite at its Angolan project.
The continuing program of drilling, augering and pitting geophysical
targets has discovered 19 new kimberlites bringing the total number of new
kimberlite discoveries on the project to 50. Samples from these new
discoveries are being shipped by air cargo to CF Mineral Research Ltd for
diamond indicator mineral analysis and diamond extraction.
Delineation drilling of the 24 hectare M007 kimberlite is now complete.
The nine hole program was designed to test the pipe for differing phases of
kimberlite and sandstone crater infill along the pipe's length and width as
well as to establish whether each phase intersected is diamondiferous or
barren. A summary of the holes is presented in the following table.

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Dip Hole Significant
Location relative Dip direction length kimberlite
Hole to M007-01 degrees degrees meters intersections

M007-01 n/a -90 n/a 152 Abandoned in sandstone

M007-02 Same location -90 n/a 366 198 to 225m

M007-03 269m at 338 degrees -90 n/a 359 12 to 194m

M007-04 269m at 338 degrees -55 158 314 6 to 227m
245 to 259m
280 to 284m

M007-05 236m at 158 degrees -50 333 314 253 to 289m

M007-06 192m at 325 degrees -90 n/a 373 3 to 281m

M007-07 437m at 21 degrees -50 227 495 252 to 268m
292 to 302m
431 to 495m

M007-08 388m at 256 degrees -52 47 441 243 to 250m
260 to 265m
274 to 277m

M007-09 292m at 343 degrees -50 152 441 215 to 221m
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Results from the first two holes are now available. 78.85 kilograms of
kimberlite from hole M007-02 and 522.12 kilograms of kimberlite from the upper
145 meters of hole M007-03 have been processed. Although the samples contained
varying amounts of diamond indicator minerals including G10 pyrope garnets,
Group 1 eclogitic garnets, and clinopyroxenes with compositions similar to
those found growing with diamonds the samples to date have not been
diamondiferous. The picroilmenite compositions indicate that the phase of
kimberlite magma that was tested by holes 2 and 3 was at chemical
disequilibrium to the diamonds. Therefore any diamonds sampled at depth (+/-
200km) would have been resorbed (destroyed) while being carried to the surface
by the kimberlite magma.
The results of the remaining six holes will indicate whether
diamondiferous phases of kimberlite exist in other areas of the pipe. It is
common in large pipes such as M007 for the different kimberlite phases to have
varying diamond contents and in some circumstances even economic mines contain
barren phases such as DeBeers' Victor Mine in northern Ontario and the Catoca
Diamond Mine in Angola.
Metalex is pleased with the discovery of 19 new kimberlites in the
headwaters of the highly diamondiferous Cuango River and is hopeful that other
portions of the large M007 kimberlite will be diamondiferous. Drill sites are
presently being prepared on two large (15 and 96 hectare) untested geophysical
targets situated in swampy areas adjacent to the Cuango River. If the onset of
the rainy season allows these will shortly be drill tested.
Chad Ulansky, a qualified person, is responsible for the technical
content of this release

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"Charles Fipke"