Kobex Announces 2012 Mel Exploration Program and Files Quarterly Financial Results
05 Maggio 2012 - 1:24AM
Marketwired
Kobex Minerals Inc. ("Kobex" or the "Company") (TSX
VENTURE:KXM)(NYSE Amex:KXM) is pleased to announce its intention to
carry out a drilling and soil geochemical sampling program on its
100% owned Yukon Territory Mel Zinc-Lead- Barite property during
the 2012 exploration field season.
The program consists of 1245 meters (3 holes) of diamond
drilling on the Main Mel, Jeri, and Mel East zones. The purpose of
the drilling is to test down dip continuity to mineralization on
the Main Mel zone and test geophysical targets located in
favourable geology and below previously identified zinc-lead
mineralization at the Jeri and Mel East zones. The Main Mel zone
has a previously reported Indicated Mineral Resource of 6.78
million tonnes of 7.1% zinc, 2.03% lead and 54.69% barite.
In addition to the drill program a detailed soil geochemical
survey will be carried out to further test four previously
identified zinc-lead geochemical anomalies located within
favourable geology on strike to the north of the Jeri North
zone.
The Mel property consists of 257 claims located 80 kilometres
N-NE of Watson Lake, Yukon Territory and approximately 50
kilometres off the Alaska Highway.
The deposit is hosted in sediments occurring in an anticlinal
structure with mineralization resting on a cryptograined limestone
and overlain by a distinctive argillite unit.
A.L. Hills, President states, "Over the past year Kobex has
completed a data compilation, review and re-interpretation of
existing drill hole information on the Mel. We concluded that given
its favourable location in the Yukon, the growing global interest
in zinc, current Indicated Mineral Resource and exploration
potential of this 100% owned property that it made sense to advance
our understanding of the Mel with this exploration program.
"Kobex currently has approximately 37 million dollars in its
treasury and while carrying out the 2012 Mel exploration program
the Company will continue to look for acquisition opportunities in
line with its strategy of acquiring advanced projects that meet its
criteria of established resources, competitive costs, and
significant exploration potential".
On other matters, the Company's unaudited condensed consolidated
interim financial statements for the first quarter ended March 31,
2012 have been filed with the Securities Exchange Commission and on
www.SEDAR.com. These financial statements are available on the
Company's website at http://www.kobexminerals.com where information
on the wholly-owned MEL property is also shown.
Mr. Leo King, PGeo, consultant, and qualified person under the
meaning of National Instrument NI43-101, reviewed and approved the
technical information in this release.
On behalf of the Board of Directors KOBEX MINERALS INC.
Alfred Hills, President and CEO
The TSX Venture Exchange and the NYSE AMEX have not reviewed and
do not accept responsibility for the adequacy or accuracy of this
news release.
Contacts: Kobex Minerals Inc. Alfred Hills President
604-688-9368 Kobex Minerals Inc. Geoff Bach Chief Financial Officer
604-688-9368 604-688-9336 (FAX)investor@kobexminerals.com
www.kobexminerals.com
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