Abitex Resources Inc. announce a significant new Uranium-Gold discovery on its 100% owned Epsilon property in the Otish Mountains region of Quebec. The new surface outcrop discovery is located approximately 15 km West of Abitex’s Lavoie property under option from AREVA Resources Canada (”ARC”) and SOQUEM Inc. where the Company has an all-weather camp and is engaged in a definition drilling program on the historic “L” deposit which hosts an historic resource of 5.9M lbs U3O8 (x) (Abitex Press Release of March 26, 2009). Abitex believes the new Epsilon discovery is very significant in that it occurs in the same setting as the “L” deposit and could potentially lead to a similar important U-Au deposit discovery.
Two grab samples were taken from the Epsilon discovery outcrop. The samples returned grades of 2.15% U3O8 and 17.25 g/t Au as well as 1.04% U3O8 and 8.69 g/t Au. The samples were taken from a mineralized sandstone unit located at the same stratigraphic level as the “L” deposit and in proximity to a large gabbro dyke. Observed mineralization at the new discovery is also similar to the “L”, consisting of disseminated radioactive and poylmetallic minerals. Assays returned elevated values for lead (2.3%-0.9%) and silver (122 g/t-35.9 g/t), as well as anomalous bismuth and selenium, typical of “L” deposit mineralization.
After acquiring the Epsilon property in August 2008, Abitex contracted Groupe Omégalpha Inc. of Joliette, Quebec to complete a close spaced helicopter-borne spectrometric survey over the entire property. Follow-up ground prospecting led to the discovery of a strongly radioactive hidden outcrop zone on the slope of a steep, overburden covered and heavily vegetated hill. Scintillometer (SPP2) readings readily exceeded 15,000 cps in at least four locations over the 12 meter length and 1.2 meter height of the vertical face of the outcrop which consists of laminated sandstones of the Peribonka Formation. The presence of “L” type mineralization at the same stratigraphic level and in close proximity to a large gabbro intrusive suggests a geological setting very similar to that of the “L” deposit.
Mr Serge Genest, Ph.D., President of Groupe Omégalpha Inc. participated in the prospecting campaign along with Abitex President & CEO Yves Rougerie. Mr Genest completed his Doctoral Thesis on the geological history of the Otish Basin at the University of Montreal in 1989 and worked with AREVA predecessor SERU Nucléaire Canada Ltée (”SNCL”) in the Otish over several years. He also led AREVA’s exploration arm in Quebec, Uranor Inc. from 1999 to 2008 and is credited with the discovery of the CAGE uranium occurrence in Quebec’s Ungava region. Mr Rougerie, P.Geo., completed several field campaigns in the Otish with SNCL/AREVA during the same period. Both have extensive experience and expertise in Otish Basin geology and uranium exploration. Both worked on the discovery and delineation phases of the “L” project. Both agree that the new discovery on the Epsilon project is likely the most significant radioactive mineralized zone ever discovered in outcropping sandstones in the Otish Basin.
Abitex is planning a significant follow-up exploration program for the Epsilon discovery zone in 2009. Prospecting, stripping and trenching, mapping, geophysics and sampling of the discovery zone are planned this summer followed by initial drilling if warranted this fall. The Epsilon property consists of 102 claim cells covering approximately 5,352 hectares. The large property contains several historic uranium occurrences which were discovered and explored in the early 1980’s by SNCL, including the lateral extensions of the “S” showing, the original vein-type uranium-gold occurrence discovered in this area of the Otish region and the A-29 zone located in the southern part of the property. Over twenty drill holes were completed by SNCL on the property in the 1980’s, mostly stratigraphic holes which confirmed the numerous similarities of the geological setting between the Epsilon and “L” properties. The property lies outside any proposed parkland.