AuEx Ventures, Inc.: Long Canyon Drill Hole Delivers 0.296 opt Over 145 Feet
18 8월 2010 - 8:00PM
Marketwired
AuEx Ventures, Inc. ("AuEx" or the "Company") (TSX: XAU) is pleased
to report new gold intercepts from ongoing drilling completed in
the northeast portion of the known resource area at the Company's
49% owned Long Canyon gold exploration project located within the
Pequop Gold District in Elko County, Nevada. These intercepts
include hole LC529C with 0.296 ounces per ton gold over 145 feet
(including 0.449 ounces per ton over 81 feet), hole LC515C with
0.190 ounces per ton gold over 137 feet, and hole LC537C with 0.248
ounces per ton gold over 66.5 feet bottoming in mineralization. All
intercepts continue to be classic, oxidized, Carlin-style gold
mineralization.
Three core and two reverse circulation drill rigs are currently
active at Long Canyon completing primarily resource definition and
resource expansion mostly in the northeastern portion of the
deposit. To date more than 132,000 feet (40,000 meters) of drilling
has been completed of a planned program of 149,000 feet (45,000
meters). In addition, recent work has included a 6 inch core
program to source 3 tons of mineralized rock for further column
leach metallurgical test work. This core will be used in
conjunction with four, 15 ton samples of mineralized rock that were
excavated earlier this summer from outcrop. To view the map
associated with this press release, please click on the following
link: http://media3.marketwire.com/docs/xau817.pdf.
Drilling during 2010 continues to provide confirmation of known
zones of gold mineralization and in addition several holes have
defined new gold mineralization between previously defined zones on
the northeast end of the deposit where it remains entirely open to
further extension. Several new drill holes have also encountered
thicker zones of gold mineralization than commonly encountered.
Drilling on the southwest end of the deposit has also provided
encouragement specifically with hole LC560 which returned 0.091
ounces per ton over 30 feet with a second zone of 0.049 ounces per
ton over 55 feet representing a potential extension of the West
Zone. Gold mineralization is present over a strike length of 1.7
miles (2.7 kilometers) and is still open. Other exploration targets
are being developed on the 12,000 acre property based on extensive
soil and rock chip sampling and geological mapping.
As reported to AuEx by Fronteer Gold (51% owner and operator),
all drill samples were collected following standard industry
practice and assayed by ALS Chemex of Reno, Nevada. Gold results
were determined using standard fire assay techniques on a 30 gram
sample with an atomic absorption finish. Samples exceeding 5 grams
per tonne gold were re-assayed using a gravimetric finish and the
values received were reported in the averages. QA/QC included the
insertion of numerous standards and blanks into the sample stream,
and a check assaying program that is underway at another
laboratory. A table containing all drill results to date using a
0.3 gram/tonne cutoff is posted on the Company's website. All data,
as reported to the Company by Fronteer and disclosed in this press
release, including sampling, analytical and test data, have been
reviewed by the Company's qualified person Mr. Eric M. Struhsacker,
M.Sc., and Certified Professional Geologist as recognized by the
American Institute of Professional Geologists. Further details
concerning the Long Canyon property are described in the Company's
National Instrument 43-101 report filed on Sedar and posted on the
Company's website at www.auex.com. A table containing intervals of
1 gram/tonne or more is attached to this press release. To view the
table, please click on the following link:
http://media3.marketwire.com/docs/xau817t.pdf. A comprehensive
table of all drill results is posted on the Company's website at
www.auex.com.
AuEx Ventures, Inc. is a TSX listed Nevada-based, gold/silver
exploration company that has a current portfolio of twenty
exploration projects in Nevada/Utah, one project in Spain and four
projects in Argentina. The Company controls about 167,000 acres of
unpatented mining claims and fee land in Nevada. Sixteen of the
projects are in joint venture or exploration earn-in agreements
with eight companies. The Company applies the extensive Nevada
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 Ventures, Inc.
Ronald L. Parratt, President and 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. This press
release uses the terms "indicated resources" and "inferred
resources", which are calculated in accordance with the Canadian
National Instrument 43-101 and the Canadian Institute of Mining and
Metallurgy Classification system. We advise investors that while
those terms are recognized and required by Canadian regulations,
the U.S. Securities and Exchange Commission does not recognize
them. U.S. investors are cautioned not to assume that any part or
all of mineral deposits in these categories will ever be converted
into reserves. In addition, "Inferred resources" have a great
amount of uncertainty as to their existence, and great uncertainty
as to their economic and legal feasibility. It cannot be assumed
that all or any part of an Inferred Mineral Resource will ever be
upgraded to a higher category. Under Canadian rules, estimates of
Inferred Mineral Resources may not form the basis of feasibility or
pre-feasibility studies, except in rare cases. U.S. investors are
cautioned not to assume that part or all of an inferred resource
exists, or is economically or legally minable.
Contacts: AuEx Ventures, Inc. Ronald L. Parratt 775-337-1545
rparratt@auex.com www.auex.com
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