Press Releases

Fieldex enters into Uranium on its 100% Delbreuil property

Fieldex Exploration Inc. (FLX-TSXV and F7E:Franfurt ) announced today that recent uranium results from its Delbreuil property located approximately 90 km south-southeast and southwest of the Rouyn-Noranda and Val d’Or mining camps, respectively, in northwestern Quebec warrant a drilling program to evaluate the full economic potential of the property. The Delbreuil property consists of 94 unpatented mining claims (5,450 hectares) in the Delbreuil and Guy townships and is easily accessible by several Ontario and Quebec provincial highways and numerous all‑weather paved and gravel road networks.


Fieldex has consolidated a large land position encompassing ten historic uranium and niobium showings within the northeastern portion of the Belleterre Belt. Mineralization occurs within granite pegmatite dykes. Individual showings have reported historical U3O8 values of 15.2 pounds per ton, 8.42 pounds per ton, 4.46 pounds per ton and 2 pounds per ton.


Martin Dallaire, the President and Chief Executive Officer of the Company, stated: "Fieldex is still very focused on its Cu-Ni-PGM deposits in Quebec, but the fact is that the Delbreuil property represents an excellent project for potentially hosting a large tonnage, low-grade uranium deposit that could be exploited cheaply by open pit methods. The geological setting of the mineralization is similar to the Michelin deposit in Labrador and the Rossing Uranium Mine in Namibia. With thespot price of uranium at 90$US a pound we have no choice but to have a closer look at the Delbreuil property and eventually bring in a senior partner who has expertise in granite-hosted uranium mineralization. A technical report on the Delbreuil property has been mandated and should be ready by the end of March 2007."


In 2004-05, Fieldex and Aurora Platinum Corp. (100% owned by FNX Mining Company Inc.) conducted geological mapping/prospecting programs with emphasis on the komatiite-hosted Ni-Cu-PGM mineralization in the Lac Nodier area on the eastern portion of the Delbreuil property. The northwestern portion of the property was prospected for uranium mineralization using a hand-held Geiger counter. Several radioactive areas with readings of over 1000 gammas per second were encountered, but only five samples from two sites were analyzed for uranium and other trace elements. All five samples yielded anomalous uranium (0.036% to 0.085% U3O8). Highly anomalous Niobium (0.039%-0.082%) and Zirconium (0.050% to 0.379%) are also associated with uranium mineralization. In 2004, Aurora Platinum and Fieldex conducted an airborne magnetic and electromagnetic survey over the entire Delbreuil property. These surveys were carried out in an effort to find Cu-Ni targets on the property.


The Delbreuil property, which also displays many similarities to the geological settings of some intrusive-hosted deposits of Canada and around the world, has the potential of hosting low-grade, large tonnage uranium deposits of economic significance. The common similarity among these deposits is that all are hosted within granitic rocks intruding the country rocks of higher metamorphic grades. The country rocks are generally metasediments and granitic gneisses. In the majority of these deposits, the granitic host is either pegmatite granite/monzogranite (e.g., Faraday Mine) or alaskite (e.g., Rossing Mine). Similar granitic rocks are widely distributed on the Delbreuil property and, in many instances, they contain anomalous uranium (e.g. Island occurrence on Ile du Refuge and Vezina showings near northeastern shore of Lac Simard) hence, the potential of finding economic mineralization is excellent on the property.

A drilling program is planned for the second quarter of 2007 and results will be communicated as soon as available.