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An Exploration and Development Stage Company

FF: I6E

OTCQX: IEXCF

TSX.V: IEC

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Mann Lake Uranium Project

Project Summary

Mann Lake Joint Venture Presentation - CLICK HERE TO VIEW

2014 Drill Program

  • 13,000 Metre Diamond Drill Program
  • 18 Drill holes
  • Drill Program to Commence in January 2014
  • Partnered with Cameco and AREVA

On November 13 2013 - International Enexco Ltd announced that the 2014 Mann Lake exploration drill program would begin on January 2014. Cameco Corporation is the project operator. The proposed budget for the 2014 program will be CDN$2,900,000 with Enexco's portion being CDN$870,000.

The 2014 drill program consists of up to 18 diamond drill holes and will evaluate three types of targets; a preliminary evaluation of the area footwall to the western axis of the C trend, the completion of the systematic evaluation of the remaining targets along the main C trend and the preliminary evaluation of the conductive features near the western margin of the Wollaston sedimentary corridor. The 2014 drill program will be carried out in coordination with Cameco's drill programs planned on adjacent projects.

The Mann Lake Uranium project is located in the heart of what is undisputedly the most prolific and highest grade uranium region in the world, the Athabasca Basin in Saskatchewan. Mann Lake is 25 km southwest of Cameco's McArthur River Mine and is 20 km northeast of Cameco's Millennium deposit. High-grade basement-hosted uranium mineralization was discovered at Mann Lake during a 2006 drill program. The two highest grade intervals are 7.12% U308 over 0.25 m and 5.53% U308 over 0.4 m at depths of just over 500 m.

"We are very pleased with the continued enthusiasm our joint venture partners have shown on Mann Lake and are approaching the 2014 program with great expectations." commented Arnold Armstrong, President & CEO.

Enexco is a 30% partner in a joint-venture with Cameco (52.5%) and AREVA (17.5%) to explore the Mann Lake Uranium project in the Athabasca Basin in Saskatchewan.

Additional grid refurbishment and geophysical surveying is planned for the northernmost portion of the property.

Property Information

  • 20 km from Cameco's McArthur River Mine (332 million lbs eU308)
  • 65 km from the historic Key Lake Mine (166 million lbs eU308)
  • 15 km from Cameco's Millennium deposit (46.8 million lbs eU308)

Ownership

Joint Venture
  • 30%-International Enexco
  • 52.5%-Cameco Corp
  • 17.5%-Areva

Historical Work

High-grade uranium was discovered at Mann Lake during a 2007 (phase one) drill program, the first drill program (operated by Cameco Corp) to penetrate the basement formation. The two highest grade intervals averaged 7.12% eU308 over 0.25 m and 5.53% eU308 over 0.4 m at depths of just over 500 m and within 12 m of the unconformity. Basement hosted uranium discoveries in the Athabasca Basin are often considered to be more desirable in terms of ease of mining and avoidance of possible water problems that sandstone discoveries can sometimes exhibit.

International Enexco has been equally encouraged by assay results from subsequent drill programs (phases two & three) at Mann Lake. High concentrations of boron have frequently been discovered throughout the sandstone section above the Athabasca unconformity surface along with long intervals of low-grade uranium. High concentrations of boron enriched sandstone and low-grade uranium in the conformity are typical of alteration systems associated with unconformity style uranium mineralization in the southeastern portion of the Athabasca Basin. Hole MN-023, from phase three drilling, had a weighted average of 552 ppm boron over 500 m (the entire sandstone section) and hole MN-O24 encountered 3.42 ppm uranium over the lower 126.4 m of the sandstone.

Exploration Potential

On trend between Cameco's Millennium deposit and McArthur River Mine

McArthur River Mine

Largest high grade uranium deposit in the world

  • 2000-2008 (Cameco Feb 2009 NI 43-101 Report)
  • Produced 476 kt at 14.7% U3O8 (154 Mlbs)
  • Reserves of 729 kt at 20.7% U3O8 (333 Mlbs)