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Contact: Connie M. Parratt
Investor Relations, 775-337-1545
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News Releases
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Amended Pequop Nevada Exploration Drilling Results
Amended NR05-8
AuEx Ventures, Inc. (AuEx) is pleased to announce the results from its initial round of reverse circulation drilling completed at the company's Pequop property located in Elko County, Nevada. The 12 square mile Pequop property contains several widely spaced, well-defined areas of Carlin style mineralization that have seen only limited, early stage drill evaluation. The Company's recently completed program consisted of 15 reverse circulation drill holes totaling 6,435 feet. Of these, 7 were drilled at the Long Canyon target area on the eastern portion of the property and 8 were drilled on the Acrobat and Juggler targets approximately 3 miles to the west of Long Canyon. Note the grades for Holes WN-053 and WN-054 have been corrected in this amended release.
The Long Canyon target is approximately 5,000 feet long and up to 1,000 feet wide as defined by geologic mapping, grid soil geochemistry and rock chip sampling performed by the previous operator. In addition, they drilled 7 reverse circulation drill holes with 1 of these reporting 80 feet grading 0.072 ounces per ton gold with the other 6 holes containing no reportable values. Drilling performed by AuEx has been successful in confirming a new geologic interpretation that resulted in the discovery of new gold mineralization that appears to be the down dip extension of the recently reported surface mineralization found during chip channel road cut sampling by AuEx. All intercepts are reported as drilled; true widths have not yet been calculated. New intercepts at Long Canyon include:
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Gold at
a 0.01
Drill ounce Incl- Incl- Drill Gold at
Inter- per ton uding uding Inter- a 0.15
From To cept ("opt") From To cept gold opt
Hole (feet) (feet) (feet) cut off (feet) (feet) (feet) cut off
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LC-008 125 190 65 0.083 170 180 10 0.367
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LC-009 350 355 5 0.011
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LC-010 65 135 70 0.176 95 120 25 0.389
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LC-011 35 55 20 0.043
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LC-012 0 70 70 0.189 25 50 25 0.406
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LC-013 50 100 50 0.161 55 85 30 0.241
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LC-014 60 100 40 0.126 75 90 15 0.260
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The 7 new holes at Long Canyon were drilled from 3 locations spaced approximately 600 feet apart along the northeastern most 1,200 feet of the target. As yet, no drilling has been conducted on the remaining three-fourths of the presently known exploration target. The mineralization remains open to the northeast and southwest as well as down dip.
The Acrobat target area contains both strata-form and structurally controlled Carlin style gold mineralization that was explored by the previous operator establishing a mineralized zone with approximately 600 feet of strike length that is open to the north, south and down dip. New holes drilled by AuEx have extended the strike length of the mineralization to 1,200 feet and appears to have connected the Acrobat and Juggler targets thereby increasing the potential for contained ounces. All intercepts are reported as drilled; true widths have not yet been calculated. New intercepts from this target area include;
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Drill Gold Incl- Incl- Drill Gold at
Inter- at a uding uding Inter- a 0.15
From To cept 0.01 opt From To cept gold opt
Hole (feet) (feet) (feet) cut off (feet) (feet) (feet) cut off
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WN-049 None None
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WN-050 0 50 50 0.072 10 20 10 0.151
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WN-051 210 215 5 0.033 None
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WN-052 None None
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WN-053 390 470 80 0.036 390 395 5 0.159
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WN-054 480 550 70 0.027 None
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WN-055 435 530 95 0.047 440 450 10 0.179
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WN-056 10 50 40 0.082 25 30 5 0.204
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WN-056 75 130 55 0.117 85 100 15 0.200
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All drill intercepts, from both Long Canyon and Acrobat/Juggler, consist of visually oxidized material. Preliminary cyanide amenability tests and check assays are in progress for all reported intervals and will be released when received. Further details concerning the Pequop property are described in the Company's National Instrument 43-101 report filed on Sedar and are on the Company's website.
All drill samples were collected following standard industry practice and were assayed by American Assay Laboratories, Inc. of Sparks, Nevada. Gold results were determined using standard fire assay techniques on a 30 gram sample with an atomic absorption finish. AuEx QC/QA included the insertion of numerous standards and blanks. All data, as disclosed in this press release including sampling, analytical and test data have been verified by the Company's qualified person Mr. Ronald L. Parratt, M.Sc., and Certified Professional Geologist.
AuEx Ventures, Inc. is a new, Nevada focused, precious metals Exploration Company that began trading on June 30, 2005. AuEx has a current portfolio of 12 exploration projects in Nevada and controls over 40,000 acres of unpatented claims and fee land. 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.</b.
By: Ronald L. Parratt, President and CEO
Contact:
Deborah Thiel - Manager Investor Relations
Telephone: 604-541-9655
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.
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