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Contact: Connie M. Parratt
Investor Relations, 775-337-1545
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News Releases
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Additional Gold Mineralization Drilled At West Pequop
AuEx Ventures, Inc. ("AuEx" or the "Company") is pleased to report additional assay results, including hole WNC-174 reporting 45 feet grading 0.247 ounces per ton gold ("opt") from the Mountain Top zone at the Company's West Pequop gold exploration project located in Elko County, Nevada. These results confirm and extend gold mineralization in the Mountain Top target area with mineralization still open. This data was provided by the Company's joint venture partner Agnico-Eagle (USA), Limited. ("Agnico-Eagle") from drilling completed during 2009 on the 29,000 acre West Pequop Venture property. The 2009 program, completed at the end of October 2009, comprised 57 drill holes that totaled over 50,000 feet. Assays for 17 holes are included in this press release while assays for the final 39 holes are pending. Commenting on the results Ronald Parratt, President & CEO stated: "The results received to date from the 2009 program at West Pequop are confirming the widespread occurrence of gold mineralization. The mineralized zones are complex and consist of structural and stratigraphic controls as well as solution and cave collapse breccias. An initial resource calculation is underway and will be released in early 2010." New assay results for the West Pequop Venture are as follows:
| Hole ID |
From |
To |
Intercept
Length |
Gold |
From |
To |
Intercept
Length |
Gold |
Area |
| |
(feet) |
(feet) |
(feet) |
(oz/T) |
(meters) |
(meters) |
(meters) |
(gpt) |
|
| WNC150 |
1.0 |
10.0 |
9.0 |
0.023 |
0.3 |
3.0 |
2.7 |
0.79 |
Sec 34 |
| WN151 |
965.0 |
980.0 |
15.0 |
0.038 |
294.1 |
298.7 |
4.6 |
1.30 |
Acrobat |
| WNC154 |
376.0 |
383.0 |
7.0 |
0.022 |
114.6 |
116.7 |
2.1 |
0.75 |
Sec 34 |
| WN158 |
620.0 |
630.0 |
10.0 |
0.031 |
189.0 |
192.0 |
3.0 |
1.06 |
Sec 34 |
| and |
670.0 |
695.0 |
25.0 |
0.026 |
204.2 |
211.8 |
7.6 |
0.89 |
Sec 34 |
| and |
630.0 |
640.0 |
10.0 |
0.041 |
192.0 |
195.1 |
3.0 |
1.40 |
Sec 34 |
| WNC161 |
727.3 |
734.3 |
7.0 |
0.121 |
221.7 |
223.8 |
2.1 |
4.14 |
Acrobat |
| WN162 |
320.0 |
340.0 |
20.0 |
0.026 |
97.5 |
103.6 |
6.1 |
0.89 |
Sec 34 |
| and |
485.0 |
495.0 |
10.0 |
0.017 |
147.8 |
150.9 |
3.0 |
0.58 |
Sec 34 |
| WNC163 |
1014.0 |
1022.0 |
8.0 |
0.151 |
309.1 |
311.5 |
2.4 |
5.17 |
Acrobat |
| and |
1054.0 |
1060.2 |
6.2 |
0.013 |
321.3 |
323.1 |
1.9 |
0.45 |
Acrobat |
| and |
1158.1 |
1164.8 |
6.7 |
0.040 |
353.0 |
355.0 |
2.0 |
1.37 |
Acrobat |
| and |
1167.4 |
1173.5 |
6.1 |
0.013 |
355.8 |
357.7 |
1.9 |
0.45 |
Acrobat |
| and |
1266.0 |
1273.0 |
7.0 |
0.030 |
385.9 |
388.0 |
2.1 |
1.03 |
Acrobat |
| and |
1352.0 |
1361.0 |
9.0 |
0.059 |
412.1 |
414.8 |
2.7 |
2.02 |
Acrobat |
| WN165 |
280.0 |
305.0 |
25.0 |
0.028 |
85.3 |
93.0 |
7.6 |
0.96 |
Sec 34 |
| WN167 |
490.0 |
515.0 |
25.0 |
0.013 |
149.4 |
157.0 |
7.6 |
0.45 |
Acrobat |
| and |
1240.0 |
1260.0 |
20.0 |
0.062 |
378.0 |
384.0 |
6.1 |
2.12 |
Acrobat |
| and |
1290.0 |
1315.0 |
25.0 |
0.093 |
393.2 |
400.8 |
7.6 |
3.18 |
Acrobat |
| and |
1340.0 |
1350.0 |
10.0 |
0.046 |
408.4 |
411.5 |
3.0 |
1.58 |
Acrobat |
| WNC169 |
637.0 |
675.0 |
38.0 |
0.069 |
194.2 |
205.7 |
11.6 |
2.36 |
Acrobat |
| and |
683.5 |
689.7 |
6.2 |
0.027 |
208.3 |
210.2 |
1.9 |
0.92 |
Acrobat |
| and |
802.8 |
813.1 |
10.3 |
0.241 |
244.7 |
247.8 |
3.1 |
8.25 |
Acrobat |
| WN174 |
60.0 |
105.0 |
45.0 |
0.247 |
18.3 |
32.0 |
13.7 |
8.46 |
Mtn Top |
| and |
140.0 |
150.0 |
10.0 |
0.030 |
42.7 |
45.7 |
3.0 |
1.03 |
Mtn Top |
| WN176 |
625.0 |
645.0 |
20.0 |
0.023 |
190.5 |
196.6 |
6.1 |
0.79 |
Mtn Top |
Drill holes WN-153, WN-160, WNC-166, WNC-173 and WNC-175 had no intercepts meeting the minimum reporting requirement of more than 5 feet of 0.01 opt or greater.
Exploration drilling during 2009 at the West Pequop Venture was conducted mainly in the Section 34, Mountain Top, Acrobat/Juggler and Range Front target areas. Assay results from these initial 18 holes have generally expanded the extent of gold mineralization in all known areas with the best intercept from the Mountain Top zone. Assays for 31 drill holes are pending and should be released before the end of the year and before the first resource estimate. These resources will be accretive to the growing resource within the new Pequop Gold District which includes the Long Canyon deposit in joint venture with Fronteer Development Group Inc.
Gold mineralization at West Pequop is present in at least three distinct stratigraphic positions within the enclosing Cambrian and Ordovician limestone and dolomite assemblages. Mineralization remains open and other exploration targets on the large exploration property remain to be drill tested. Gold mineralization encountered has been typical of oxidized Carlin-type occurrences and is commonly associated with faulting, felsic dikes and solution collapse breccias. Maps showing the locations of drill holes at West Pequop are posted on the company's website.
As reported to AuEx by Agnico-Eagle, 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. Samples assaying over 3 parts per million gold are routinely re-assayed using standard fire assay techniques on a 30 gram sample with a gravimetric 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 and 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 twenty three exploration projects in Nevada, two projects in Argentina and one project in Spain. The Company controls about 176,000 acres of unpatented claims and fee land in prospective areas of Nevada. Eleven of the projects are in exploration earn-in or formal 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 & 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.
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