Oxford Resources Inc.: Detailed Assessment Program Commences at Aley Creek Niobium Property, BC
May 13 2014 - 8:17AM
Marketwired
Oxford Resources Inc.: Detailed Assessment Program Commences at
Aley Creek Niobium Property, BC
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 13, 2014) -
Oxford Resources Inc. (TSX-VENTURE:OXI) ("Oxford" or the "Company")
is pleased to announce it has retained APEX Geoscience Ltd.
("APEX") to conduct a detailed assessment of their 100% owned Aley
Creek Niobium Property that is contiguous and virtually surrounding
Taseko Mines Ltd. Aley Niobium Project - currently believed to be
the largest undeveloped Niobium deposit in the world. Oxford's Aley
Creek Niobium property host's similar geological characteristics to
Taseko's neighboring niobium deposit and contains multiple
anomalies identified through government airborne surveys and ground
based geochemical surveys. A work program to test these high
priority anomalies will be established following the detailed
assessment now underway.
Mitchell Adam, President of Oxford Resources Inc. states, "We
are excited to begin uncovering the vast potential of our Aley
Creek Niobium property surrounding such a large and advanced
niobium deposit. The combination of the correct underlying geology,
multiple identified anomalies and strategic location make our Aley
Creek property highly prospective for Niobium. With over
$25,000,000.00 in testing and infrastructure already spent by
Taseko in close proximity and Niobium prices growing at 5-7%
annually with only 3 producers worldwide we feel our Aley Creek
property could be the key to Oxfords future success."
Oxford's Aley
Creek Niobium Map: www.oxfordres.com/s/aley_niobium.asp
In March 2012, Taseko reported a NI 43-101 compliant Resource
Estimate for their Aley Niobium Project. Using a 0.2% Nb2O5
cut-off, the Measured and Indicated Resource totals 286 million
tonnes, grading 0.37% Nb2O5, plus an Inferred Resource of 144
million tonnes grading 0.32% Nb2O5. The combined Measured and
Indicated Resource contains 739 million kilograms of Niobium. An
additional 323 million kilograms of Niobium are contained in the
Inferred Resource. (http://www.tasekomines.com/aley/ID539906)
About the Aley Creek
Niobium Property
Oxford's Aley Creek property is comprised of eight mineral
claims in two separate blocks (North and South) totaling over 3,360
hectares within the Omineca Mining Division, approximately 140
kilometres (km) north of Mackenzie, British Columbia, Canada.
The Aley Carbonatite, which hosts Taseko's Aley Niobium Deposit,
is associated with a prominent regional airborne magnetic high
anomaly within rocks of the Ordovician Kechika Formation. Rock and
soil samples collected by APEX during 2013 encountered anomalous
niobium values in Kechika Formation rocks on the Aley Creek North
claim block indicating the potential for rare earth element (REE)
bearing lamprophyre and carbonatite occurrences within the
Property.
Within the Aley Creek South claim block, 6.5 km south of
Taseko's Aley Niobium Deposit, a distinct 2 x 2 km magnetic anomaly
occurs. Based on similarities between the Aley Creek South anomaly
and the magnetic signature of the Aley Niobium Deposit there is the
potential for the existence of an undiscovered carbonatite
intrusion within Oxford's claims. Currently no carbonatite
occurrences are known on the Aley Creek South claim block and no
known surface geological work or diamond drilling has occurred
within the claims.
APEX is currently in the process of planning a follow-up program
including but not limited to: a detailed ground magnetic survey to
better define the geometry of the airborne anomaly, as well as
follow-up rock and soil sampling, and geological mapping to
identify the presence of carbonatite dykes or fenitized host rock
suggestive of a proximal carbonatite intrusion. Contingent on the
results of the planned Phase 1 exploration, diamond drill testing
of the Aley Creek South magnetic anomaly may be warranted.
Qualified Person Statement
Kristopher J. Raffle, B.Sc., P.Geo, Principal; and Consultant of
APEX Geoscience Ltd. is the "Qualified Person" as defined by
National Instrument 43-101. Mr. Raffle has reviewed the technical
content of this news release as it relates to the Aley Creek
Niobium Property.
About APEX Geoscience
Ltd.
APEX Geoscience Ltd. is an international consultancy with over
40 geological staff based out of offices in Canada, Australia and
Peru. APEX provides worldwide exploration services, including but
not limited to: exploration project management (grassroots to
feasibility); NI 43-101 compliant reports and resource estimates;
structural geology and geophysical analysis; data interpretation
and 3D modelling; historic data / GIS compilations and target
generation; and independent property evaluations.
About Oxford Resources
Inc.
Oxford Resources Inc. is a Tier 2 natural resource company,
listed on the TSX Venture Exchange, trading under the symbol OXI.
The Company currently holds a 100% interest in the Aley Creek
Niobium Property, located northeastern British Columbia, which
encircles the Taseko Aley Carbonatitite deposit, which is known to
be one of the world's largest undeveloped resources of Niobium. The
Company also owns an interest in the Chilcotin Belle property
(formerly, the Tasco Claims) located in British Columbia. The
property was recently optioned to Amarc Resources Ltd., as
disclosed in the Company's news release dated December 13,
2013.
ON BEHALF OF THE BOARD OF DIRECTORS
OXFORD RESOURCES
INC.
Mitchell Adam, President & Director
Forward-Looking Statement
Some of the statements in this news release contain
forward-looking information that involves inherent risk and
uncertainty affecting the business of Oxford Resources Inc. Actual
results may differ materially from those currently anticipated in
such statements. Neither the 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Oxford Resources Inc.Mitchell AdamPresident & Director604
678 5308info@oxfordres.comwww.oxfordres.com
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