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Contact: Connie M. Parratt
Investor Relations, 775-337-1545
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News Releases
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Additional West Pequop Drill Assays
News Release 07-17
AuEx Ventures, Inc. ("AuEx" or the "Company") is pleased to report assay results provided by Agnico-Eagle (USA) Limited ("Agnico-Eagle") from continued drilling being conducted and funded by Agnico-Eagle under an exploration earn-in agreement at the Company's West Pequop gold exploration property located in Elko County, Nevada. Highlights of the recent drilling include hole WN-080 with a new high-grade gold intercept of 30 feet grading 0.469 ounces of gold per ton and hole WN-083 reporting 45 feet grading 0.090 ounces of gold per ton. A total of 19 holes have been completed and reported to the Company to date in 2007 totaling over 14,000 feet of reverse circulation drilling all in the section 34 target area. Drilling by Agnico-Eagle is expected to continue into late fall and will include a diamond core rig which has just arrived on the property. New assay results are summarized as follows;
| Hole |
Total
Depth
(feet) |
From
(feet) |
To
(feet) |
Drill
Intercept
(feet) |
Gold at a
0.01 ounce
per ton
(“opt”)
cut off |
Target
Area |
| WN-074 |
920 |
370 |
380 |
10 |
0.033 |
Section 34 |
| WN-075 |
820 |
15
775 |
35
790 |
20
15 |
0.012
0.014 |
Section 34 |
| WN-076 |
800 |
5
355
400
430
450 |
10
360
415
435
465 |
5
5
15
5
15 |
0.021
0.018
0.014
0.011
0.023 |
Section 34 |
| WN-077 |
940 |
0
85 |
20
110 |
20
25 |
0.082
0.032 |
Section 34 |
| WN-078 |
900 |
15 |
20 |
5 |
0.032 |
Section 34 |
| WN-079 |
220 |
0
65
85 |
5
70
90 |
5
5
5 |
0.042
0.087
0.014 |
Section 34 |
| WN-080 |
540 |
0
110 |
50
140 |
50
30 |
0.025
0.469 |
Section 34 |
| WN-081 |
245 |
------- |
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|
Section 34 |
| WN-082 |
880 |
35
225
395
505
620 |
40
230
420
525
630 |
5
5
25
20
10 |
0.029
0.046
0.037
0.062
0.017 |
Section 34 |
| WN-083 |
1000 |
530
610
750 |
575
620
755 |
45
10
5 |
0.090
0.034
0.011 |
Section 34 |
| WN-084 |
865 |
385
410
615
755 |
400
415
620
770 |
15
15
5
15 |
0.014
0.015
0.025
0.031 |
Section 34 |
| WN-085 |
1000
|
435
475 |
440
480 |
5
5 |
0.029
0.011 |
Section 34 |
| WN-086 |
1000 |
------- |
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Section 34 |
The section 34 target area mineralization has now been extended to the southwest and remains entirely open to the north and east. The recent drill intercepts continue to suggest stratigraphic control to mineralization but hole WN-080 in particular suggests structural control of mineralization as well. Access road and drill site construction is ongoing to the north and should connect shortly with the Juggler area of mineralization ½ of a mile north. Agnico-Eagle anticipates drilling in these areas this fall. All mineralization continues to appear oxidized.
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 Tier 1 TSX.V listed 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 mining claims and fee land. Eleven of the projects are in joint venture agreements with eight 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 or rparratt@auex.com
Deborah Thiel Manager, Investor Relations 604-689-9533 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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
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| | You can view the Next News Releases item: Wed Oct 17, 2007, Long Canyon Drilling Extends Strike And Dip Of Gold Mineralization
You can view the Previous News Releases item: Fri Sep 21, 2007, Swiss Bank Drilling Assay Results
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