MICREX DEVELOPMENT CORP.:ASE Message Board

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Gold/Mining/Energy : MICREX DEVELOPMENT CORP.:ASE

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To: Leigh McBain who wrote (131)	11/17/1999 9:36:00 PM
From: Paul Kramer	Read Replies (2) of 174

*NEWS UPDATE* MICREX DEVELOPMENT CORP. For Immediate Release ASE Symbol "MIX" SEC 12 g (3) Exemption 82-4281 Nov. 17, 1999 Chinchaga Geochemical Results November 17, 1999 - Micrex reports that it has received geochemical results from Marum Resources Inc., it's joint venture partner in the Chinchaga area of northern Alberta. Project consultant Apex Geoscience Ltd. conducted a regional geochemical stream sediment program in October, 1999. The stream sediment samples were analyzed at the Saskatchewan Research Council using fire assay for gold and ICP for multielement geochemistry. The samples contain gold values up to 12 times normal background levels. Background values for gold in stream silt samples in the Northern Chinchaga are about two parts per billion (ppb). In contract, stream silt gold values in streams draining the Micrex permits in the Fontas area of the Chinchaga map sheet range from eight to 24 ppb. These are distinct anomalies ranging from four to 12 times background values. As well, samples previously processed for diamond indicators were found to contain small grains of gold. These results indicate that the Fontas Hills, an area containing 160,000 acres of Micrex/Marum joint venture permits, may also contain gold mineralized units similar to those being encountered in the Naylor Hills on the east side of the Chinchaga River. Micrex also has claims in the vicinity of the Naylor Hills anomaly that are part of the Micrex/Marum joint venture. An evaluation of pertinent aeromagnetics and structural data will be undertaken to evaluate potential sources for the Fontas anomaly. These two anomalous areas are the first to be identified from the very large samples series generated this last summer season. More data will be available as samples are processed. Further information may be obtained from Perry Meszaros or S.E. Marshall at (780) 448-0922 or fax at (780) 413-8147. Please visit our web site at www.mixcorp.com

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