Metalex Ventures Ltd V.MTX

Alternate Symbol(s): MXTLF

Metals & Mining Industrial Metals & Minerals

Metalex Ventures Ltd. is a Canada-based company engaged in the acquisition, exploration and development of mineral properties. The Company’s principal projects are located in Quebec and northern Ontario (U2), Canada. Its overseas projects are located in South Africa, Morocco and Mali. Its projects include Wemindji James Bay Property, Kyle Lake Property, Viljoenshof Diamond Project and James Bay Lowlands Property. It has a 100% earned interest in mineral claims located in the Kyle Lake area of Ontario, located approximately 200 kilometers (km) west of James Bay in Northern Ontario and about 80 km west of De Beers’ Victor Mine. It also has an interest in various mineral claims located in the Wemindji James Bay region of Quebec, Canada. It has an interest in certain claims located in the James Bay lowlands area of Northeastern Ontario, which covers approximately 36 square kilometers (8,944 acres) of ground. It has a 70 % interest in the Viljoenshof Diamond Project in South Africa.

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Metalex Ventures Ltd

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Post by TikTalkStockson Nov 20, 2019 3:34pm

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Post# 30375358

MTX's Kyle Lake U2 - get to Know it Well..You'll be Hearing

A lot About these Guys very Soon in Big Fashion
https://metalexventures.com/kyle-lake/
104 mineral claims

100% owned by Metalex (Kel-Ex Development Ltd holds a 10% free carried interest).

The region seems exceptionally fertile for diamond mineralization with commercial grade kimberlites being found in several areas (Victor, Renard)

INFORMATION ABOUT U2

Approx 9.3 hectares (24 acres) in size
Second largest diamond bearing kimberlite discovery in northern Ontario.
Initial core drilling of U2 yielded 17 diamonds from a 142.3 kg sample. The diamonds have a course size distribution and are predominantly gem quality similar to those recovered from DeBeers’ Victor Mine.

FUTURE WORK

Based on the high proportion of gem quality diamonds, the large size of the U2 kimberlite and the diamond grades, the U2 kimberlite merits the collection of a 10,000 ton bulk sample so that at least 1,000 carats of diamonds can be recovered for assessment. A large diamond parcel is necessary to accurately define the diamond grade and average value per carat.

Sample Diamond Shown below