2010 Most Active Exploration Year yet for AuEx
08 4월 2010 - 8:00PM
Marketwired
AuEx Ventures, Inc. (TSX: XAU) ("AuEx" or the "Company") is pleased
to report that 2010 promises to be the most active exploration year
ever for the Company. Total exploration expenditures, including
funds from the Company and its eight industry partners, are
expected to be about $29,000,000 and will include over 200,000 feet
of core and reverse circulation drilling.
At the Company's Meridiano project, reverse circulation drilling
is currently underway with additional drilling planned at the
Company's La Rosita and Gertrudis properties later in the year. All
three projects are located in Santa Cruz Province, Argentina and
are under agreement with Agnico-Eagle Mines (USA), Limited. In
Nevada, core drilling is to begin at the Long Canyon project with
Fronteer Development Group, Inc. on April 8th and will then be
followed by reverse circulation drilling scheduled to commence in
May at the West Pequop project with Agnico-Eagle. Several other
Nevada projects are planned for drilling later in the year
including Buffalo Canyon and Green Monster with Eldorado Gold
Corp., Pasco Canyon and Sinter with Christopher James Gold, Wood
Hills South with NuLegacy Gold NV, South Pequop with Golden Dory
Resources and Trinity with Liberty Silver Corp. Core drilling is
scheduled to begin in southeast Spain with Western Uranium Corp. on
April 12th and by then, the Company expects to have exploration
drills active within all three countries of current exploration
interest.
The $29,000,000 in aggregate expenditures anticipated for 2010
are topped by Long Canyon at about $20,000,000 (51% provided by
Fronteer and 49% by AuEx) which includes significant engineering
and related activity in addition to drilling, $3,500,000 at West
Pequop, $1,500,000 in Argentina, $1,500,000 in Spain with the
balance at the Company's other Nevada projects.
"2010 promises to be the most exciting year yet for AuEx with
significant work planned to advance and grow the Long Canyon gold
deposit and to explore the new Pequop Gold District as well as
several other projects in Nevada, Argentina and Spain. We're very
optimistic about the Company's opportunities for resource growth
and potential new discoveries," said Ronald L. Parratt, AuEx's
President & CEO.
In addition to the above activity, an updated resource estimate
is in process for the Long Canyon project and an initial resource
estimate is underway for the West Pequop project. Both are expected
to be released during the 2nd quarter of 2010. The Company also
expects to release an initial resource estimate for the Trinity
Silver property later in 2010.
AuEx Ventures, Inc. is a precious metals exploration company
that has a current portfolio of twenty one exploration projects in
Nevada/Utah, four projects in Argentina and one project in Spain.
The Company controls about 167,000 acres of unpatented claims and
fee land in prospective areas of Nevada. Fifteen of the projects
are in exploration earn-in or formal joint venture agreements with
eight companies who provide full or partial exploration funding.
The Company applies the extensive exploration experience and
high-end technical skills of its founders to search for and acquire
new precious metal exploration projects that are then offered for
joint venture. AuEx is listed on the Toronto Stock Exchange under
the symbol XAU.
AuEx Ventures, Inc.
Ronald L. Parratt, President & CEO
This release includes certain statements that may be deemed to
be "forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. All statements in
this release, other than statements of historical facts, that
address future production, reserve potential, exploration and
development activities and events or developments that the Company
expects, are forward-looking statements. Although the management of
AuEx believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance, and actual results or
developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include market prices, exploration and development successes,
continued availability of capital and financing, and general
economic, market or business conditions. Please see our public
filings at www.sedar.com for further information.
Contacts: AuEx Ventures, Inc. Ronald L. Parratt President &
CEO 775-337-1545 rparratt@auex.com www.auex.com
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