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Target: Intrusive related gold system with the possibility of a porphyry system at depth.
Location: The Buffalo Canyon project is located south of the town of Ione and adjacent to the inactive Berlin gold mine in NW Nye County Nevada. The project consists of 22 unpatented lode claims owned by the Company.
Ownership: Under Joint Venture
History: Several phases of drilling have been conducted on adjacent claims and work continues by Nevada Pacific Gold where they have encountered long drill intervals of low grade gold mineralization in a fine grained skarn. AuEx's claims are to the east in an area with tourmalinized intrusive and mesothermal quartz veins that host numerous old workings that were worked by hand. Earlier explorers have recovered numerous anomalous gold samples with up to multi ounce values. There are no drill holes on the AuEx ground.
Geology: The project covers a large intrusive related mineral system with gold, silver and base metal mineralization hosted within Mesozoic sediments. Limited outcrops of the intrusive contain feldspar-flooded porphyry, quartz-tourmaline veins and, at least locally, a late adularia overprint on earlier propylitic alteration.
The project area contains numerous small prospects developed on quartz veins largely dipping eastward into a large NNE regional structure. Samples taken by AuEx on the AuEx claims have returned gold values up to 8 g/t. Recent outcrop sampling conducted and reported by Nevada Pacific Gold (US), Inc. on their adjacent claims reports gold values up to 15 g/t. Drilling by earlier explorers on the Nevada Pacific Gold claims reportedly contains intercepts within metasediments grading in the range of 0.5 g/t to 1 g/t gold however there has been no drilling on the AuEx claims.
AuEx Ventures, Inc. is a TSX listed precious metals exploration company that trades under the symbol XAU. The Company controls over 167,000 acres of unpatented claims and fee land that includes over twenty properties in Nevada/Utah, four projects in Argentina, and one project in Spain. Fifteen of the projects are in earn-in or joint venture agreements with eight companies who provide exploration funding. 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.
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