Additional Properties

MOROCCO

 

  • Joint venture between Metalex and ONHYM (Moroccan Government)
  • Metalex has a 60% contributing interest
  • Claim area covers 17,100 km2 of Archaean Cratonic and Proterozoic rocks which have never been explored for diamonds or other base minerals previously.

TARGET RATIONALE

The area is considered prospective for commercial kimberlite hosted diamond deposits as well as commercial deposits of gold, base and precious metals, platinum groups metal and iron ore because:

  • Part of the project area is the unexplored northern section of an Archaean craton in which diamonds and kimberlite have been found to the south in the Mauritanian part of the craton.

 

  • The prospectivity of the license is further demonstrated by the presence of Kinross’ 10+ million ounce Tasiast gold mine located 100 kilometers to the south and SNIM’s world class 5.7 billion ton iron mine 200 kilometers to the east.

METALEX WORK

  • Since 2004, over 3,000 samples have been collected and processed.
  • Sample results have discovered numerous anomalies:
    • Diamond indicators in 18 areas
    • Gold in 38 areas
    • Cu-Co+/-Ni +/-Zn in 30 areas
    • Zn-Ni-Pb in 15 areas
    • Uranium in 6 areas.
  • The joint venture holds 22 exploration licences totalling 4,021 square kilometres covering these anomalies

FUTURE WORK

  • Systematic follow up sampling and prospecting of priority anomalies
  • Drill testing

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SOUTH AFRICA

 

Metalex has optioned the Viljoenshof Diamond Project near Kimberley, South Africa.  This region has long been a prominent producer of diamonds, with DeBeers being founded at the Kimberley Diamond Mine.

In spite of its proximity to significant diamond mines the project area has been the subject of little modern exploration.  The last significant work was completed in the 1960’s by DeBeers.  At this time the significance of diamond indicator minerals had yet to be discovered and DeBeers was focussed on only large kimberlites.

Recent sampling has demonstrated that the project contains exceptional diamond indicator minerals.  The indicator minerals recovered have compositions consistent with similar minerals recovered from high-grade diamond mines.  Several kimberlites have been located on the project; however, their sizes are unknown.  Drilling of these bodies to determine their size and diamond distribution will be the first work undertaken.  Work will also be undertaken to explore for additional kimberlites on the 3,373 hectare project.

Currently the Company is applying to convert the Prospecting Right to a Mining Right, which has up to a 30 year term, with unlimited renewals available.