Kazax Provides Update on Drilling Programme at Lomonosovskoye
12 2월 2014 - 2:25AM
Marketwired
Kazax Provides Update on Drilling Programme at Lomonosovskoye
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 11, 2014) -
Kazax Minerals Inc. ("Kazax" or the "Company") (TSX-VENTURE:KZX) is
pleased to provide an update on its current exploration drilling
programme at the Lomonosovskoye iron project located in Kostanay
Oblast, Kazakhstan.
The work, which commenced in September 2013, has successfully
completed 9,141 metres of a planned 10,360 metre programme. Of the
completed drilling, over 1,200 samples of drill core have been
delivered to an independent lab - ALS at Ust-Kamenogorsk, in
Kazakhstan. Assay results are expected by May 2013.
As a result of further data processing of soviet era
information, which was located in 2013 through government library
information services and previously unknown to the Company, the
Company plans to extend its drilling programme into 2014 with a
further 11 exploration holes - 6 holes within the envelope of two
adjacent projected pits and 5 holes outside this boundary,
targeting magnetic anomalies and the presence of copper and zinc
mineralisation. Out of the 6 holes to be drilled within the pit
boundary, 5 are targeting a zone between the two pits previously
thought to be potentially barren. The historic soviet data
demonstrates interesting mineralization and magnetic anomalies
lying between these two areas. This could positively influence pit
design work being conducted as part of the Bankable Feasibility
Study ("BFS") process. The examination of this historical
information has been running concurrently with the drilling
programme.
The Company benefits from the availability of historic drilling
information linked to the soviet era. This comprises 412 boreholes
drilled between 1956 and 1982, totalling 131,441 m. The results of
this historic data are still being reviewed. The Company already
sent to ALS lab in Ust-Kamenogorsk over 800 powder samples not
previously tested as part of this review.
The Company currently anticipates completion of the initial
drill programme by March 2014 and the extended drill programme by
May 2014. The Company expects to produce a revised technical report
in compliance with National Instrument 43-101 upon announcing the
results from this drill programme.
The Company continues to advance work towards the completion of
its BFS, including detailed infrastructure and cost model
improvements.
The technical information provided in this news release was
reviewed and approved by Dr. Juan Camus, the project's country
manager and a qualified person for the purposes of National
Instrument 43-101.
For further information readers are invited to review additional
corporate and property information available on SEDAR at
www.sedar.com.
ON BEHALF OF THE BOARD
Trevor Campbell Smith, President & CEO
Neither the 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.
Forward-Looking Statements
This news release contains forward-looking statements and
forward-looking information within the meaning of applicable
securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", "schedule", "believe", "plans",
"intends" and similar expressions are intended to identify
forward-looking information or statements. More particularly and
without limitation, this news release contains forward looking
statements and information concerning the Company s future
operations and prospects. The forward-looking statements and
information are based on certain key expectations and assumptions
made by the Company, including expectations and assumptions
concerning equipment and crew availability, and joint venture
partner financial capability. Although the Company believes that
the expectations and assumptions on which such forward-looking
statements and information are based are reasonable, undue reliance
should not be placed on the forward looking statements and
information because the Company can give no assurance that they
will prove to be correct. By its nature, such forward-looking
information is subject to various risks and uncertainties, which
could cause the Company's actual results and experience to differ
materially from the anticipated results or expectations expressed.
These risks and uncertainties include, but are not limited to,
reservoir performance, labour, equipment and material costs, access
to capital markets, interest and currency exchange rates, and
political and economic conditions. Additional information on these
and other factors is available in continuous disclosure materials
filed by the Company with Canadian securities regulators. Readers
are cautioned not to place undue reliance on this forward-looking
information, which is given as of the date it is expressed in this
news release or otherwise, and to not use future-oriented
information or financial outlooks for anything other than their
intended purpose. The Company undertakes no obligation to update
publicly or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as
required by law.
Kazax Minerals Inc.+7 7172 99 05
49info@kazaxmineralsinc.comwww.kazaxmineralsinc.com
KazaX Minerals Inc. (TSXV:KZX)
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