Corex Gold Corporation
Gold exploration & development in Mexico
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Message: Announces New Gold Discovery in Mexico-42.67m of 1.50 g/t Au
| January 28, 2009 | ||||
| Corex Announces New Gold Discovery in Mexico-42.67m of 1.50 g/t Au | ||||
|
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 28, 2009) - Corex Gold Corp. (TSX VENTURE:CGE) (the "Company") is pleased to announce that a first phase reverse circulation drill program has been completed on its Santana Property, Sonora State, Mexico. The Santana property covers about 7,000 hectares. The project is located approximately 200 kilometers east-southeast of Hermosillo within the Sierra Madre Occidental copper-gold-silver belt. A total of 16 exploration drill holes comprising 1,377 meters were drilled; 1086 drill samples were taken; of which 752 samples were sent to Inspectorate Lab, Reno Nevada. In addition, numerous rock chip surface and trench samples were also collected and assayed. Three separate targets were drilled during this first drill campaign. In total, 15 of the 16 drill holes drilled returned gold assays that confirm the continuity of gold mineralization along strike and at depth in of each of the areas tested. Drill hole targeting was based on favorable alteration coupled with anomalous gold assays from surface work. The 3 areas drilled, the La Turena, Benjamin and Santa Lucia targets are located within an area measuring 1400 meters x 600 meters as defined by favorable alteration and associated gold anomalies. Gold mineralization is associated with alteration assemblages that are characterized by pervasive and structurally controlled iron oxides, quartz vein stockwork, clay and sericite -illite alteration. The mineralization at the three drilled areas is hosted by intermediate tuffs and flows intruded by mafic dikes. Santana Project Drill Highlights: - SR08-01 33.53 meters @ 0.87 g/t gold
- SR08-02 9.14 meters @ 0.78 g/t gold
13.72 meters @ 1.25 g/t gold
- SR08-04 44.20 meters @ 1.05 g/t gold
- SR08-05 22.86 meters @ 1.31 g/t gold
9.14 meters @ 0.80 g/t gold
35.05 meters @ 1.37 g/t gold
- SR08-06 42.67 meters @ 1.51 g/t gold
- SR08-07 9.15 meters @ 0.93 g/t gold
- SR08-08 25.91 meters @ 1.04 g/t gold
- SR08-14 9.14 meters @ 2.34 g/t gold
La Turena Zone This area has not been previously drilled. These drill hole results presented below represent a new gold discovery. The La Turena zone measures 400 meters x 200 meters, general strike direction is N30W. The surface expression, as defined by anomalous rock chip/channel samples and alteration, is open on strike northwest and southeast. Eight holes (SR08 - 01, 02, 03, 04, 05, 06, 07 and 08) were drilled to test the gold anomaly defined by the surface mapping and sampling program. -------------------------------------------------
Grade
From To Interval (gpt)
Hole # (m) (m) (m) Au
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SR08 - 01 1.52 35.05 33.53 0.87
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39.62 44.20 4.58 0.98
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SR08 - 02 18.29 27.43 9.14 0.78
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42.67 44.20 1.53 1.83
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50.29 64.01 13.72 1.25
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77.72 80.77 3.05 0.52
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94.49 97.54 3.05 0.62
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102.11 105.16 3.05 1.16
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SR08 - 03 No gold values reported
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SR08 - 04 7.62 51.82 44.20 1.05
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62.48 70.10 7.62 0.96
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73.15 80.77 7.62 0.78
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SR08 - 05 1.52 24.38 22.86 1.31
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25.91 35.05 9.14 0.80
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38.10 41.15 3.05 0.59
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44.20 47.24 3.04 0.55
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56.39 91.44 35.05 1.37
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108.20 109.73 1.53 1.25
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SR08 - 06 21.34 22.86 1.52 0.84
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25.91 33.53 7.63 0.68
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36.58 79.25 42.67 1.51
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SR08 - 07 57.91 67.06 9.15 0.93
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89.92 99.06 9.14 0.54
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115.82 117.35 1.53 0.62
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SR08 - 08 1.52 27.43 25.91 1.04
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42.67 59.44 16.77 0.62
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The Benjamin zone is located 700 meters west - southwest from the La Turena Zone. Numerous small exploration pits were mapped at Benjamin; all of the pits are mapped along a N60E striking shear system. The Benjamin zone is 300 meters long. The alteration and associated gold mineralization is open on strike in both the northeast and southwest directions. The Benjamin Zone has not been previously drilled. Six holes (SR08 - 09, 10, 11, 12, 13 and 14) were drilled to test one of the main gold anomalies previously detected by the surface sampling program. -------------------------------------------------
Grade
From To Interval (gpt)
Hole # (m) (m) (m) Au
-------------------------------------------------
SR08 - 09 12.19 15.25 3.06 1.04
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16.76 18.29 1.53 6.37
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21.34 22.86 1.52 0.56
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27.43 28.96 1.53 0.72
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44.20 45.72 1.52 0.61
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92.96 94.49 1.53 0.55
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105.16 106.68 1.52 0.50
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161.54 163.07 1.53 1.77
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SR08 - 10 13.72 15.24 1.52 0.61
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16.76 19.81 3.05 1.32
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28.96 30.48 1.52 0.74
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39.62 42.67 3.05 0.84
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SR08 - 11 32.01 33.53 1.52 1.82
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39.62 41.15 1.53 2.32
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42.67 44.20 1.53 0.71
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-------------------------------------------------
SR08 - 12 25.91 27.43 1.52 2.65
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59.44 60.96 1.52 1.34
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SR08 - 13 47.24 51.82 4.58 2.21
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SR08 - 14 16.76 18.29 1.53 0.59
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21.34 30.48 9.14 2.34
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33.53 39.62 6.09 1.26
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48.77 51.82 3.05 2.73
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64.01 67.06 3.05 3.60
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The Santa Lucia Zone is located 350 meters southwest from La Turena. A 20 meter long adit located in this zone represents the only significant mining development in the Santana Project. The Santa Lucia Zone is approximately 330 meter long on strike. The target area is open on strike. Two holes, SR08 - 15 and SR08 - 16 were drilled to test the Santa Lucia Zone. -------------------------------------------------
Grade
From To Interval (gpt)
Hole # (m) (m) (m) Au
-------------------------------------------------
SR08 - 15 16.76 21.34 4.58 1.59
-------------------------------------------------
-------------------------------------------------
SR08 - 16 12.19 16.76 4.57 0.80
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El Nicho This area is located 350 meters southeast of Santa Lucia. El Nicho is on the southeastern extension of the of the Santa Lucia regional structure. Gold values from surface sampling up to 0.7 g/t Au, occur in an area 20 meters wide and 200 meters long with favorable sericite, illite and quartz vein stockwork alteration. Additional mapping and surface sampling is warranted to further define drill targets at El Nicho. La Micha La Micha is located 550 meters, southeast of El Nicho, along the Santa Lucia regional structure. The alteration assemblage is the same as noted at El Nicho. The few samples collected reported anomalous gold values. Additional mapping and surface sampling is warranted to further define drill targets at La Micha. Divisadero This area is located 350 meters southwest of Santa Lucia and 350 meters southeast from La Turena. Rock chip samples collected in this area returned assays containing gold values from 0.1 g/t Au to 8.1 g/t Au. The mineralization is related to the presence of quartz + hematite veinlets controlled by both the northwest and northeast striking fracture systems. Favorable sericite - illite and iron oxide alteration was noted in an area measuring approximately 250 meters x 100 meters. Alan D. Hitchborn, Vice President-Exploration, manages Corex's exploration and development programs. Matthew D. Gray, Ph.D., C.P.G., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release. ON BEHALF OF THE BOARD Craig D. Schneider, President & CEO |
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