KELOWNA, BC, April
21, 2015 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX)
("Metalex", the "Company") wishes to provide an update on the
status of the permitting of the bulk sample to be collected from
the U2 kimberlite.
Permitting
Metalex is pleased to report that the permits required for the
collection of the 10,000 ton bulk sample of the U2 kimberlite have
now been received.
Ontario's Ministry of the
Environment completed its review of the Environmental Assessment of
the U2 bulk sample as required due to a comment received by an
environmental group when the assessment was posted in February of
2014. The Ministry of the Environment has determined that the
Environmental Assessment for the project was adequate.
As a result Ontario's Ministry
of Northern Development and Mines issued the Bulk Sample Permission
and Disposition Permission for the project.
With the Bulk Sample Permission having been issued Ontario's Ministry of Natural Resources issued
a Work Permit for the winter road and Land Use Permits for the camp
and laydown area as well as for a winter air strip.
The Ministry of the Environment has issued an Environmental
Compliance Approval for air emissions and an Environmental
Compliance Approval for sewage works. In addition they have
issued Permits to Take Water for both the construction of the
winter road and also the settling pond for the plant.
First Nations
Metalex continues to work with the Attawapiskat and Marten Falls First Nations to complete an
exploration agreement for the proposed bulk sample.
Financing
The Company is in discussions with several groups concerning the
funding of the bulk sample collection.
U2 Profile
The U2 kimberlite pipe is a highly prospective diamond
development project located in the James Bay Lowlands of
Ontario, near De Beers' Victor
Mine. Diamonds recovered from the U2 pipe are of exceptional
quality – with 88.8% by weight of the +1.7mm diamonds being white
and 1.1% being colored. The large size of the U2 pipe shows
the potential to host a substantial tonnage.
The technical information and results reported here have been
reviewed by Mr. Chad Ulansky
P.Geol., a Qualified Person under National Instrument
43-101, who is responsible for the technical content of this
release.
Signed,
Charles Fipke
Charles Fipke
Chairman
Forward Looking Statements
Some of the statements contained herein may be forward-looking
statements which involve known and unknown risks and
uncertainties. Without limitation, statements regarding
potential mineralization and resources, exploration results, and
future plans and objectives of the Company are forward looking
statements that involve various risks. The following are
important factors that could cause the Company's actual results to
differ materially from those expressed or implied by such forward
looking statements: changes in the world wide price of mineral
commodities, general market conditions, risks inherent in mineral
exploration, risks associated with development, construction and
mining operations, the uncertainty of future profitability and the
uncertainty of access to additional capital. There can be no
assurance that forward-looking statements will prove to be accurate
as actual results and future events may differ materially from
those anticipated in such statements. Metalex undertakes no
obligation to update such forward-looking statements if
circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on such
forward-looking statements.
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 Metalex Ventures Ltd.