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News Releases | | Thu Jun 28, 2007
Significant Drill Offset To Gold Mineralization At West Pequop
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| | AuEx Ventures, Inc. (AuEx) is pleased to report assay results provided by joint venture partner Agnico-Eagle (USA) Limited (Agnico-Eagle) from ongoing reverse circulation drilling being conducted and funded by Agnico-Eagle at the Company's West Pequop gold exploration property located in Elko County, Nevada. These assay results include hole WN-073 which reported an 80 foot intercept of 0.169 ounces gold per ton located approximately 150 feet east of an intercept of 55 feet of 0.189 ounces gold per ton in hole WN-063 reported in press release NR07-07. Drilling in 2007 has to date consisted of 10 drill holes totaling 7,950 feet completed in the NE Section 34 target area. Results reported to date to the Company by Agnico-Eagle are as follows;
Hole |
Total
Depth |
From
(feet) |
To
(feet) |
Drill
Intercept
(feet) |
Gold at a 0.01 ounce per ton (“opt”) cut off |
Target Area |
WN-068 |
285 |
50 |
55 |
5 |
0.025 |
NE Sec 34 |
WN-069 |
400 |
65 |
70 |
5 |
0.126 |
NE Sec 34 |
|
|
80 |
85 |
5 |
0.015 |
|
WN-070 |
985 |
Nil |
|
|
|
NE Sec 34 |
WN-071 |
1000 |
50 |
60 |
10 |
0.045 |
NE Sec 34 |
|
|
230 |
250 |
20 |
0.035 |
|
|
|
740 |
745 |
5 |
0.034 |
|
|
|
765 |
785 |
20 |
0.050 |
|
WN-072 |
1000 |
50 |
60 |
10 |
0.025 |
NE Sec 34 |
|
|
705 |
715 |
10 |
0.045 |
|
WN-073 |
800 |
40 |
55 |
15 |
0.017 |
NE Sec 34 |
|
|
565 |
645 |
80 |
0.169 |
|
|
|
665 |
685 |
20 |
0.015 |
|
|
|
700 |
705 |
5 |
0.036 |
|
|
|
715 |
800 |
85 |
0.036 |
|
WN-074 |
920 |
Pending |
|
|
|
NE Sec 34 |
WN-075 |
820 |
Pending |
|
|
|
NE Sec 34 |
WN-076 |
800 |
Pending |
|
|
|
NE Sec 34 |
WN-077 |
940 |
Pending |
|
|
|
NE Sec 34 |
The mineralized intercept in hole WN-073 is oxidized and appears to be slightly down-dip and within the same stratigraphic horizon as the intercept in hole WN-063 consistent with the regional eastward dip of the sedimentary rocks. The mineralization is open to the west, north and east. Based on these results, Agnico-Eagle has reported to the Company that it will increase the amount of reverse circulation drilling planned for the West Pequop project during 2007. A core drill is already scheduled for the project later in the summer. An updated drill hole location map for the holes in the NE Section 34 target area and a cross section through holes WN-063 and WN-073 are available on the Company's website at www.auex.com.
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 at www.auex.com.
AuEx Ventures, Inc. is a precious metals exploration company that has a current portfolio of seventeen exploration projects in Nevada, one project in Spain and a generative exploration program in Argentina. The Company controls over 50,000 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 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 or rparratt@auex.com
Deborah Thiel Manager, Investor Relations 604-541-9655 or dthiel@auex.com
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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