ROUYN-NORANDA, QC, Nov. 24, 2016 /CNW Telbec/ - Fieldex
Exploration Inc. (FLX : TSXV and
F7E : Frankfurt) is pleased to announce that it has
acquired by map designation two new properties with strong cobalt
potential located 40 kilometres north of the village of
Grand-Remous in the province of
Quebec.
Highlights:
- 100-per-cent-interest in two cobalt/silver/copper showings
located in Quebec;
- Strategic acquisition for Fieldex to increase its
energy-related offer;
- Pertinent exploration potential around the showings.
"With the global expansion of the electric storage industry,
cobalt, rare earths and ceramics (feldspar) have or will become key
elements and Fieldex will be very well positioned. Our Kipawa Lac
Sairs project contains the heavy rare earths, the Teslo project,
the ceramics and hopefully these two showings, Lac Dean and Lac
Oscar, will provide us the Cobalt" commented Martin Dallaire, president and chief executive
officer.
The area covered by the two new properties has received limited
exploration work in the past but cobalt, copper and silver values
are reported. Both properties are included within the Proterozoic
province of Grenville. The Lac
Dean showing has historically returned channel sampling of up
to 0,18 % Co, 17,1 g/t Ag, 1,57 % Cu 0,7 g/t Au and 0,18% Ni. These
values and sulphide mineralisation are found within a quartz
pegmatite cutting pyroxenites. The cobalt value may be within a
potential primary cobalt deposit or a by-product of a
potential copper deposit. A rock sample from the Oscar showing
discovered in 2004 has returned historical value of 0.13 % Co and
1.40 % Cu. The last values are included within veinlets/veins of
semi - massive to massive pyrite – chalcopyrite cutting a gabbro.
The cobalt value may represent a by-product of a potential copper
deposit.
Fieldex technical team will immediately initiate a compilation
followed by prospection program to validate all the technical
information found in various natural resource reports issued by the
governments of Canada and Québec.
The two newly acquired properties comprise a total of 8 claims
covering a surface area of about 4.7 square kilometres. All claims
are currently being processed by the Ministere de l'Energie et des
Ressources Naturelles (MERN); they will be registered shortly and
will be wholly owned by Fieldex.
Qualified Person
Mr. Robert
Sansfaçon, PGeo (OGQ), MSc, a consultant to Fieldex, is the
qualified person under National Instrument 43‑101 Standards of
Disclosure for Mineral Projects responsible for the technical
contents of this press release, and has approved the disclosure of
the technical information contained herein.
Forward Looking Statement
This news release may
contain assumptions, estimates, and other forward-looking
statements regarding future events. Such forward-looking statements
involve inherent risks and uncertainties and are subject to
factors, many of which are beyond the Company's control that may
cause actual results or performance to differ materially from those
currently anticipated in such statements.
About Fieldex
Fieldex is a mineral resource company
actively exploring in Québec for strategic groups of metals and
industrial minerals deposits located in the province of Québec. As
of the date hereof, Fieldex has 103,286,798 common shares issued
and outstanding.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release
SOURCE FIELDEX EXPLORATION INC.