|
Contact: Connie M. Parratt
Investor Relations, 775-337-1545
|
News Releases
|
 |
| |
Long Canyon Core Hole Returns 75 Feet of 0.39 Ounce Per Ton
News Release 08-01
AuEx Ventures, Inc. ("AuEx" or the "Company") is pleased to report a new high-grade gold intercept of 75 feet grading 0.391 ounces of gold per ton (opt) extending gold mineralization in the Main Zone another 200 feet northeast at the Company's Long Canyon gold exploration project located in Elko County, Nevada. These results were provided by Fronteer Development Group, Inc. ("Fronteer") from an initial phase of core drilling conducted in late 2007 and funded by Fronteer under an exploration earn-in agreement covering the Long Canyon gold exploration property. A total of 6 core holes totaling 2,005 feet were completed by Fronteer in the recent program. Assays for the four remaining core holes are pending. Over 11,000 feet of reverse circulation drilling and over 2,000 feet of core drilling were completed by Fronteer during 2007 at Long Canyon.
Commenting on the new results, Ronald L. Parratt CEO of AuEx Ventures, Inc. stated "These new assay results in hole 63C at the Main Zone of Long Canyon are outstanding and the shallow depth and the oxidized character of the mineralization, make Long Canyon truly an exciting discovery". New assay results are summarized as follows:
--------------------------------------------------------------------------
From To Width Au From To Width Au
Hole ID (feet) (feet) (feet) (opt) (metres) (metres) (metres) (g/t)
--------------------------------------------------------------------------
LC062c 78.5 88.5 10.0 0.009 23.9 27.0 3.1 0.32
112.5 129.0 16.5 0.009 34.3 39.3 5.0 0.32
164.0 199.0 35.0 0.017 50.0 60.7 10.7 0.57
268.5 295.5 27.0 0.059 81.9 90.1 8.2 2.03
LC063c 144.0 219.0 75.0 0.391 43.9 66.8 22.9 13.40
Including 166.0 194.0 28.0 0.763 50.6 59.1 8.5 26.1
Including 166.0 189.0 23.0 0.879 50.6 57.6 7.0 30.1
Including 180.0 189.0 9.0 1.231 54.9 57.6 2.7 42.2
--------------------------------------------------------------------------
The Main Zone of gold mineralization at Long Canyon has now been defined by drilling to be almost 3,500 feet in length and remains open to the northeast, the southwest and at depth. Another 1,600 feet of the defined soil anomaly to the southwest remains untested by drilling. Mineralization has now been extended 500 feet northeast beyond the limits of the soil anomaly and remains open. The West Zone of mineralization has a drill defined strike length of about 1,000 feet and remains open as well to the northeast, the southwest and at depth. Fronteer has reported to the Company that they plan an aggressive drill program in 2008 consisting of both core and reverse circulation drilling which is expected to begin in June. (see attached drill location map and photos of the drill core of hole LC063C)
As reported to AuEx by Fronteer, drill intersections are reported as drilled thicknesses. Core was sampled at geologically selected intervals and was assayed by American Assay Laboratories (ISO9002:2002) for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 10.0 grams per tonne Au was re-assayed and completed with a gravimetric finish. QA/QC included the insertion of numerous standards and blanks into the sample stream. Selected holes are also analyzed for a 72-element geochemical suite by ICP-MS. All data, as reported to the Company by Fronteer 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 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 Tier 1 TSX.V listed precious metals exploration company that has a current portfolio of eighteen exploration projects in Nevada, one project in Spain and a generative exploration program in Argentina. The Company controls over 80,000 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
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.
View Long Canyon Drill Results Summary in PDF Format
View News Release in PDF Format:
|
| |
| |
| | You can view the Next News Releases item: Wed Jan 9, 2008, Mountain Top Yields 30 Feet At 0.280 Ounce Per Ton At West Pequop
You can view the Previous News Releases item: Fri Dec 7, 2007, Fireball Ridge And Gypsum Valley Drilling Results
You can return to the main News Releases page, or press the Back button on your browser.
|
|
|
|
News Release.pdf
