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Contact: Connie M. Parratt
Investor Relations, 775-337-1545
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News Releases
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New Gold Mineralization Discovered At West Pequop
AuEx Ventures, Inc. (AuEx) is pleased to report the results provided by joint venture partner Agnico-Eagle (USA) Limited (Agnico-Eagle) from the initial phase of reverse circulation drilling conducted by Agnico-Eagle at the Company's West Pequop gold exploration property located in Elko County, Nevada. The program consisted of 11 drill holes totaling 7,905 feet and resulted in the discovery of new high-grade gold mineralization including a 55 foot intercept of 0.182 ounces gold per ton in the NE Section 34 target area. The results are summarized below.
| Hole |
From (feet) |
To (feet) |
Drill Intercept (feet) |
Gold at a 0.01 ounce per ton (“opt”) cut off |
Including From (feet) |
Including To (feet) |
Drill Intercept (feet) |
Gold at a 0.15 gold opt cut off |
Target Area |
| WN-057 |
740 |
750 |
10 |
0.013 |
|
|
|
|
SW Sec 34 |
| WN-058 |
----- |
|
|
nil |
|
|
|
|
SW Sec 34 |
| WN-059 |
990 |
1000 |
10 |
0.015 |
|
|
|
|
SW Sec 34 |
| WN-060 |
----- |
|
|
nil |
|
|
|
|
SW Sec 34 |
| WN-061 |
285 |
300 |
15 |
0.063 |
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|
|
NE Sec 34 |
|
420 |
445 |
25 |
0.043 |
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|
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|
|
465 |
525 |
60 |
0.027 |
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|
|
|
|
540 |
565 |
25 |
0.02 |
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|
|
|
|
665 |
680 |
15 |
0.119 |
670 |
675 |
5 |
0.226 |
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| WN-062 |
210 |
235 |
25 |
0.018 |
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NE Sec 34 |
|
245 |
260 |
15 |
0.118 |
250 |
255 |
5 |
0.157 |
|
|
305 |
335 |
30 |
0.029 |
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|
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|
465 |
505 |
40 |
0.02 |
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535 |
555 |
20 |
0.025 |
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|
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|
|
620 |
645 |
25 |
0.084 |
620 |
625 |
5 |
0.274 |
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| WN-063 |
35 |
50 |
15 |
0.011 |
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NE Sec 34 |
|
505 |
560 |
55 |
0.182 |
505 |
525 |
20 |
0.412 |
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| WN-064 |
660 |
670 |
10 |
0.031 |
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Acrobat |
| WN-065 |
----- |
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|
nil |
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Acrobat |
| WN-066 |
----- |
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|
nil |
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|
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Acrobat |
| WN-067 |
----- |
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|
nil |
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Acrobat |
The three mineralized holes in NE Section 34 are near an area of drilling conducted in 2000 however the higher grade results from the current drilling appear to be from stratigraphic intervals that are deeper and not tested in the earlier drilling. The new holes are about 300 feet apart with hole WN--063 being the most northeasterly. The high grade mineralization encountered in hole WN-063 is open to the north, south and east and continues to validate the high prospectivity of the West Pequop property. The drill holes in the SW portion of Section 34 all contained anomalous values with the best results in hole WN-59 which bottomed in mineralization at 1000 feet. Drilling in the Acrobat target area suffered from drilling problems including strong hole deviation and sample recovery. Agnico- Eagle has indicated that further drilling is planned in all areas during the 2007 drilling program.
As reported to AuEx by Agnico-Eagle, all drill samples were collected following standard industry practice and were assayed by Inspectorate America Corporation of Sparks, Nevada. Gold results were determined using standard fire assay techniques on a 30 gram sample with an atomic absorption finish. QA/QC included the insertion of numerous standards and blanks into the sample stream. Check assays and preliminary cyanide amenability testing is underway. All intercepts are reported as drilled; true widths have not been calculated. All data, as reported to the Company by Agnico-Eagle and disclosed in this press release including sampling, analytical and test data have been reviewed by the Company's qualified person Mr. Ronald L. Parratt, M.Sc., and Certified Professional Geologist. Further details concerning the West Pequop property are described in the Company's National Instrument 43-101 report filed on Sedar and are on the Company's website.
AuEx Ventures, Inc. is a Nevada focused, precious metals exploration company that has a current portfolio of 15 exploration projects in Nevada and controls over 40,000 acres of unpatented claims and fee land. Ten of the projects are in joint venture agreements with seven 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.
AuEx Ventures, Inc.
By: Ronald L. Parratt, President and CEO
Contact:
Ronald L. Parratt 775-337-1545
Deborah Thiel Manager, Investor Relations 604-541-9655
Sec 34 Drilling
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
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