Metalex Ventures reported that it has renegotiated an agreement to acquire 112,861 hectares of mineral claims in the state of Mato Grosso, Brazil from Kel-Ex Development Ltd. in consideration for $2,000,000 worth of Metalex shares to be valued on the trading date prior to receiving regulatory approval and Metalex will also assume an obligation to reimburse Kel-Ex for certain prior exploration expenditures of $1,211,835.
Iciena Ventures announced it will proceed with a non-brokered private placement of up to 30,000,000 Units at a price of Can$0.05 per Unit for gross proceeds of up to Can$1,500,000. Also, the Company announced that it has entered into an amended and restated property option agreement with Metalex Ventures pursuant to which the Company has an option to acquire up to 49% working interest in 19 contiguous mineral claims located in Brazil.
An airborne magnetic and electromagnetic geophysical survey has been completed using a helicopter over the postulated (3.4 by 3.7km) source area of theindicator minerals. Interpretation of the magnetic portion of the survey is now complete and 5 targets potentially reflecting kimberlites have been modelled to have widths of up to 300 meters. These targets have been identified in areas upstream of the aforementioned diamond inclusion indicators
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