Metalex to drill Angolan diamond targets

Vancouver Metalex Ventures (MTX-V) is mobilizing a drill to test magnetic anomalies believed to have potential to represent undiscovered kimberlites at the Chitamba license in Angola.

The company recently acquired geophysical data that revealed 100 magnetic anomalies indicative of shallow, steeply dipping volcanic vents that are typical of kimberlites. The targets range from dykes to bodies up to 500 metres in diameter.

The newly identified anomalies are clustered in the eastern part of the license area, which is drained by the Cuango River. Numerous alluvial diamond mines are found along the Cuango River downstream of the Chitamba license, including one reported to have recovered diamonds worth US$106 million last year.

The Chitamba permit also covers known kimberlites. Some experts have proposed that the Chitamba-Lulo cluster is the source of alluvial diamonds mined in the Cuango River.

Metalex’s permit also has alluvial diamond potential within the portion drained by the Cuango River.

The company recently launched a program of shallow pitting to test the best and most accessible anomalies. Others targets are overlain by young sediments and alluvium and will require drill-testing.

Metalex has other diamond projects, notably the Attawapiskat and Kyle Lake projects in northern Ontario, and a project in western Quebec.

The company is managed by experienced diamond professionals. Chairman Charles Fipke played the lead role in the discovery of kimberlites that later become the Ekati diamond mine in Canada’s Northwest Territories, while President Peter Gregory was part of the team that discovered the Merlin diamond mine in Australia.

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