Montreal, Quebec (PRWEB) June 27, 2008
Where do you find a new mine? The answer is simple, next to an old one.zX
In reality, it's not that simple; however, experts know that locating a new mine in close proximity to a previously developed one is a good indicator. After all, a vein carrying mineral deposits doesn't just shut off because of a property line.
Namex Explorations Inc. recently purchased the Huffman property, located northwest of Sudbury. This new property is on trend and some 8 kilometres east of the Jerome Gold Mine. In 1941 to 1943 the Jerome Gold Mine produced 56,878 ounces of gold, and 15,104 ounces of silver. Of great significance and as evidence of the importance of location, recent excavator work on the Huffman property has exposed mineralized porphyritic felsic bedrock in four trenches along a strike length of 240 metres.
"There are exciting things about to happen," says Oliver Maki, Chief Geologist for Namex Explorations Inc., former Professor of Geology at Cambrian College, and director of the exploration program that discovered the three billion ton Los Pelambres copper deposit on the Chile-Argentina border. "The [Huffman property] results of grab samples have been tremendous: the gold value is up over 2 ounces per ton and although confined to a somewhat narrow vein, it's occurring within quartz felsic porphyry which is the host draw for most of the mines in that area. We're optimistic of being able to locate an enlargement of it further down."
In fact all of Namex's properties are located in former or established mining camps, are part of former mines are adjoining, or adjacent to former mines, or are on trend and in very close proximity to known ore bodies. They also can be serviced by the existing infrastructure of skilled mine labor pools, good roads, power, cities and are in areas known to be friendly to mining.
Their Post Creek property is not only strategically located adjacent to FNX Mining's Podolsky North and Podolsky 2000 projects, but encompasses some 1,200 metres of the same Whistle Offset which hosts the Podolsky ore bodies. In August of last year, the Podolsky 2000 Deposit encountered massive copper, nickel, platinum, palladium and gold mineralization.
"The Post Creek rock type is correct, the geology is correct and it's surrounded by proven producers - that's what we base our excitement on," says Oliver Maki.
***Disclaimer: This press release may contain forward-looking statements regarding the Company, within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, including statements regarding the anticipated timing, process and scope of further exploration and drilling activities. These statements are based on assumptions that the Company believes are reasonable but that are subject to uncertainties and business risks. Actual results relating to any and all of these subjects may differ materially from those presented. Factors that could cause results to differ materially include economic and political events affecting supply of and demand for base and precious metals, fluctuations in commodity prices, negative results of environmental or technical studies, negative results of further exploration, drilling programs, problems or delays in or objections to the permitting process, failure or delay of third parties to provide services, changes in the attitude of state and local officials toward its projects and other factors. Additional information is available at the Company's website at http://www.namex-explorations.com.