VANCOUVER, March 31 /PRNewswire-FirstCall/ -- Mr. Chris England, President of International Arimex Resources Inc., ("Arimex") is pleased to announce that preliminary results have been received from a reconnaissance AMT (Audio-Frequency Magneto-Telluric) survey over the Cree West uranium property in the Athabasca basin of Saskatchewan. Conductive zones have been delineated on both the north (5963 hectares) and south (6897 hectares) claim blocks.
Preliminary inversion modelling on AMT data from the south block indicates that the unconformity at the base of the Athabasca sandstone may be relatively shallow, of the order of 300-400 metres. There appears to be a broad, relatively flat-lying conductive zone at or close to the unconformity in the western part of the claim group that may be caused by an alteration zone. There is a discrete basement conductor that runs the whole length of the block, that appears to be well below the unconformity at the southwest end of the survey area. This conductor approaches closer to the unconformity as it is followed to the northeast, and its apparent conductivity increases in the same direction. There is a distinct offset in this long conductor close to the centre of the claim group, suggesting the possibility of a cross structure.
AMT data on the north claim group is currently being processed by inversion modelling. Preliminary maps indicate three conductive zones that correlate with conductors defined by historical ground EM surveys. There is an additional conductive trend running in a north-westerly direction that may indicate the presence of a cross-structure, possibly with associated alteration.
International Arimex Resources announced in a news release dated April 24th, 2006, that it has an option to earn a 50% interest in the Cree West project by paying Canalaska Uranium Ltd., property payments of $150,000, issuing 600,000 shares and committing to 3.6 million dollars in exploration expenditures over a three year period. Canalaska will also receive a 3% net smelter royalty.
Technical information in this news release has been prepared and/or reviewed by Colin Bowdidge, Ph.D., P.Geo., a director of the company and a Qualified Person as defined in NI43-101.
The Company has also reviewed the data from the initial exploration program on the California Creek uranium project, located in Elko County, Nevada. While results were encouraging, management has decided the financial resources required for further exploration, would be better spent in the Athabasca Basin Region of Northern Saskatchewan, and to that end, the Company has terminated the option on the California Creek project and begun evaluating additional properties of merit in Saskatchewan. Management is also aware of properties in Labrador and Ontario as well as in overseas countries such as Mauritania, West Africa.
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
