Target: The Fireball Ridge project contains a series of low-sulfidation epithermal gold/silver targets hosted within the bounding structures of a large north-south trending horst block. Prior drilling has produced encouraging results and additional untested exploration targets still exist.
Location: The Fireball Ridge project is located about 45 miles ENE of Reno and 10 miles NW of Brady's Hot Spring off Interstate Highway 80 north of Fernley in Churchill County, Nevada. The project area covers approximately 3,800 acres, consisting unpatented mining claims and a lease of fee land.
Ownership: 100% owned by AuEx, Inc.
Geology: The Fireball Ridge property contains low sulfidation, epithermal style gold-silver mineralization hosted mainly within north-south structural zones defining a large horst block of Mesozoic metasediments and tertiary volcanics. A small resource of gold mineralization has been identified by earlier drilling and is present on the east side bounding structure within fractured, silicified, adularia bearing footwall Mesozoic metasediments. Tertiary volcanics are believed to be present in the pediment covered hanging wall side of the bounding fault. Numerous old workings, consisting of shallow shafts and adits, are developed at the south end of Fireball Ridge and are hosted within both the Mesozoic metasediments and the Tertiary volcanics.
History: The Fireball Ridge project has been explored by several companies over the past 30 years. Prior to this, exploration and limited mining were conducted on the property sometime after 1900. These efforts are evidenced by historic mine workings consisting of small shafts and adits. AuEx has obtained and compiled much of this data along with that generated by it's former joint venture partners Tournigan Gold Corporation and Newcrest Resources, Inc. Work completed by prior explorers on the property includes geological mapping, surface geochemical sampling, geophysics and the completion of approximately 100 conventional and reverse circulation drill holes. Numerous holes contain intercepts grading greater than 0.01 ounces per ton gold.
The most recent results were released on December 7, 2007, and were provided by funding partner Tournigan from the reverse circulation drilling program completed by Tournigan in August 2007. That program consisted of 7,060 feet in 18 holes and was designed to explore for gold mineralization along and related to two nearly parallel northeast trending faults. These faults form the large structural horst block and the mineralized east-west trending Nezelda fault cross cuts through the south end of the horst block. Drill holes with intercepts meeting the minimum grade requirement of 0.010 ounces per ton are as follows:
Hole ID
From
( feet)
To
(feet)
Intercept
(feet)
opt Au
Comments
TFB-02
155
200
225
170
205
235
15
5
10
0.012
0.041
0.040
East Fault Target
TFB-04
5
10
5
0.010
West Fault Target
TFB-05
95
120
100
130
5
10
0.013
0.010
Nezelda Fault Target
TFB-06
20
30
10
0.016
Nezelda Fault Target
TFB-07
60
135
75
140
15
5
0.075
0.011
Nezelda Fault Target
TFB-011
145
150
5
0.012
East Fault Target
TFB-013
85
140
55
0.022
Chevron Target
Several of the other drill holes contained intervals of anomalous (>100 parts per billion) gold with supporting pathfinder geochemistry.
AuEx Ventures, Inc. is currently seeking a joint venture partner for the Fireball Ridge property. To learn more about this property and other joint venture opportunities, please contact Eric M Struhsacker, Exploration Manager, US at (775) 337-1545 or .
AuEx Ventures, Inc. is a TSX listed precious metals exploration company that has a current portfolio of twenty one properties in Nevada, two projects in Argentina and one project in Spain. The Company controls about 80,000 acres of unpatented claims and fee land. Eleven of the projects are in joint venture agreements with five companies providing 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.
