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To: LoneClone who wrote (72295)12/10/2010 6:35:07 PM
From: LoneClone  Read Replies (1) | Respond to of 194504
 
ABITEX REPORTS GOLD ASSAYS UP TO 73 G/T AT LAVOIE U-AU PROJECT

finance.yahoo.com

Press Release Source: ABITEX RESOURCES INC. On Friday December 10, 2010, 8:00 am EST

VAL-D'OR, QC, Dec. 10 /CNW Telbec/ - Abitex Resources Inc. (TSX-V: ABE - News; the "Company") is pleased to announce gold assay results for the Lavoie uranium-gold project located in the Otish Mountains, Quebec. Abitex has an option to acquire a 50% interest in the property from co-owners Areva Canada Resources and Soquem Inc. The property hosts the Lavoie uranium-gold deposit which has an NI 43-101 resource estimate of 391,000 tons grading 0.45% eU3O8 for 3.91M lbs U3O8 in the Indicated category and 749,000 tons grading 0.56% eU3O8 for 9.26M lbs U3O8 in the Inferred category (Press release of March 2, 2010, report available on SEDAR).

In August 2010, the Company completed sampling of the Lavoie deposit definition drill core that not yet been sampled and assayed for gold. Results of previous sampling were released in 2009 (Press release of December 23, 2009). Results of the 2010 sampling program have now been received and are reported hereafter. Gold rich intervals such as 10.58 g/t over 5.4 meters in hole L-09-65 and 12.02 g/t over 3.0 meters in hole L-09-64 confirm the occurrence of high grade intervals within the deposit and include individual assays as high as 73.4 g/t Au over 0.4 meters in hole L-09-64. Intervals of 0.95 g/t over 22.3 meters in hole L-09-72 and 0.38 g/t over 29.0 meters in hole L-09-59 also confirm the widespread anomalous gold content of the deposit. Results are tabulated according to core lengths. True widths for these intervals have not been calculated. Significant results are presented below: <<


_________________________________________________
| Hole (number sign) | From m | To m |Length M| Au g/T |
|___________|_________|_________|________|________|
|L-09-50 | 76.50| 86.00| 9.50| 2.09|
|___________|_________|_________|________|________|
| incl.| 80.50| 82.50| 2.00| 8.96|
|___________|_________|_________|________|________|
|L-09-51 | 121.50| 125.50| 4.00| 1.19|
|___________|_________|_________|________|________|
|L-09-54 | 94.50| 98.00| 3.50| 0.96|
|___________|_________|_________|________|________|
|L-09-57 | 94.00| 101.00| 7.00| 2.37|
|___________|_________|_________|________|________|
| incl.| 98.40| 100.00| 1.60| 10.31|
|___________|_________|_________|________|________|
|L-09-59 | 114.00| 114.80| 0.80| 9.90|
|___________|_________|_________|________|________|
|L-09-63 | 69.00| 76.00| 7.00| 0.69|
|___________|_________|_________|________|________|
|L-09-64 | 57.00| 60.00| 3.00| 12.02|
|___________|_________|_________|________|________|
| incl.| 59.60| 60.00| 0.40| 73.40|
|___________|_________|_________|________|________|
| and | 93.00| 93.40| 0.40| 5.34|
|___________|_________|_________|________|________|
|L-09-65 | 69.60| 75.00| 5.40| 10.58|
|___________|_________|_________|________|________|
| incl.| 71.20| 72.70| 1.50| 35.42|
|___________|_________|_________|________|________|
| and | 86.80| 90.60| 3.80| 2.33|
|___________|_________|_________|________|________|
|L-09-72 | 91.00| 113.30| 22.30| 0.95|
|___________|_________|_________|________|________|
| incl.| 112.00| 112.80| 0.80| 24.80|
|___________|_________|_________|________|________|
|L-09-76 | 75.00| 80.10| 5.10| 0.46|
|___________|_________|_________|________|________|
|L-09-83A | 5.00| 8.50| 3.50| 2.15|
|___________|_________|_________|________|________|
| incl.| 6,30| 6.80| 0.50| 10.30|
|___________|_________|_________|________|________|
| and | 41.50| 43.70| 2.20| 1.83|
|___________|_________|_________|________|________|

>>
The following table demonstrates the widespread anomalous distribution of
gold within the deposit:
<<

______________________________________________
| Hole (number sign) | From m | To m |Length m |Au g/T |
|_________|________|_________|_________|_______|
|L-09-47 | 65.00| 75.00| 10.00| 0.16|
|_________|________|_________|_________|_______|
|L-09-48 | 78.50| 95.00| 16.50| 0.25|
|_________|________|_________|_________|_______|
|L-09-49 | 44.00| 50.00| 6.00| 0.11|
|_________|________|_________|_________|_______|
|L-09-53 | 85.00| 103.00| 18.00| 0.14|
|_________|________|_________|_________|_______|
|L-09-55 | 90.00| 106.00| 16.00| 0.08|
|_________|________|_________|_________|_______|
|L-09-58 | 84.50| 119.70| 35.20| 0.28|
|_________|________|_________|_________|_______|
|L-09-59 | 90.00| 119.00| 29.00| 0.38|
|_________|________|_________|_________|_______|
|L-09-63 | 91.00| 101.00| 10.00| 0.25|
|_________|________|_________|_________|_______|

>>
"These results, combined with previous significant results, clearly show
the potential importance of gold mineralization in the Lavoie deposit" reports
Yves Rougerie, President & CEO. "We now recognize that gold is present
throughout the deposit, both in widespread fracture-filling mineralization in
sandstones as well as high grade veins in gabbro. All Lavoie deposit relevant
drill core has now been sampled for gold. A review is under way to estimate
the gold content of the deposit. The results of this estimate should be
included in a Preliminary Economic Assessment (PEA) of the Lavoie deposit
which is targeted for completion in early 2010. The PEA will incorporate
geological, mining, environmental and metallurgical data acquired to date on
the project and will help in establishing the next stages in the advancement
of the project."
Mineralized drill core samples were split on-site with half the core kept
for reference. All half-core samples were shipped to SRC Geoanalytical
Laboratories in Saskatoon, Sk, for assay by Fire Assay and gravimetric finish
on 30g aliquots. Blanks, duplicates and standards were inserted in the
sampling suite as part of a standard QA/QC program.
The technical information in this release has been prepared, reviewed and
approved by Yves Rougerie. P.Geo., President and CEO of Abitex and Yolande
Bisson, P.Eng., MBA, Lavoie project manager. Mr. Rougerie and Ms Bisson are
Qualified Persons as defined by National Instrument 43-101.
The Company's public documents may be accessed at www.sedar.com For
further information on the Company, visit our website at www.abitex.ca

------------------------------------------------------------------------------
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

To view this news release in HTML formatting, please use the following URL:
cnw.ca

For further information

<< Yves J. Rougerie President and CEO Tel: (819) 874-6200 info@abitex.ca >>