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Contact: Connie M. Parratt
Investor Relations, 775-337-1545
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News Releases
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Long Canyon Mineralization Extended/JV Agreement Signed
AuEx Ventures, Inc. (AuEx) is pleased to report the results provided by joint venture partner NewWest Gold USA, Inc. ("NewWest") from the follow-up phase of reverse circulation drilling at the Company's Long Canyon gold exploration property located in Elko County, Nevada. The program consisted of 9 drill holes totaling 3,795 feet. 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 |
LC-031 |
0 |
25 |
25 |
0.070 |
5 |
10 |
5 |
0.154 |
LC-032 |
0 |
30 |
30 |
0.076 |
15 |
20 |
5 |
0.234 |
LC-033 |
0 |
10 |
10 |
0.048 |
-- |
-- |
-- |
-- |
|
285 |
295 |
10 |
0.013 |
-- |
-- |
-- |
-- |
LC-034 |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
LC-035 |
350 |
370 |
20 |
0.013 |
-- |
-- |
-- |
-- |
LC-036 |
35 |
50 |
15 |
0.013 |
-- |
-- |
-- |
-- |
LC-037 |
35 |
75 |
40 |
0.021 |
-- |
-- |
-- |
-- |
|
90 |
100 |
10 |
0.013 |
-- |
-- |
-- |
-- |
|
165 |
225 |
60 |
0.047 |
-- |
-- |
-- |
-- |
LC-038 |
160 |
175 |
15 |
0.012 |
-- |
-- |
-- |
-- |
LC-039 |
130 |
140 |
10 |
0.032 |
-- |
-- |
-- |
-- |
Holes LC-031, LC-032 and LC-033 extend drilled mineralization approximately 400 feet along strike to the southwest in the main Long Canyon zone of mineralization. This zone remains open to the southwest for approximately 1,800 feet. Hole LC-037 extends the Jasperoid zone of mineralization found in hole LC-030 drilled earlier in 2006 by 200 feet along strike to the southwest. This zone is open to the northeast and southwest. Drilling in 2006 has confirmed and extended mineralization along approximately 3,000 feet of the Long Canyon target and documented that multiple zones of gold mineralization are present. NewWest is in the process of further permitting for drilling planned for mid 2007.
In addition, the Company wishes to announce that the definitive joint venture agreement between NewWest Gold USA, Inc. and the Company regarding Long Canyon has been signed. This agreement incorporates all terms as previously disclosed in press release NR06-06.
As reported by NewWest, 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. 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 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 Long Canyon 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
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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