Corex Continues to Generate New Targets at Santana Property
02 November 2011 - 2:00PM
Marketwired
Corex Gold Corp. (TSX VENTURE:CGE) (the "Company") is pleased to
announce the implementation of a new target delineation program on
its 100% owned Santana project in Sonora State, Mexico. The most
recent program is designed to generate additional resource areas
and significantly expand the mineralized footprint on the property.
The new targets will be trenched, sampled, and mapped to increase
the size and potential of this newly emerging Gold-Copper Porphyry
district. Below is a brief description of the New Zones identified,
and where they lie in relation to our most recently drilled area,
the Nicho Zone.
Please click the following link
http://www.corexgold.com/i/pdf/NewZones.pdf.
Outline of Program, Ongoing Work:
The Corex team will be divided into two working groups of two
geologists each. One group will be focused on finishing both the
remaining district mapping at 1:1000 scale and also completing a 50
x 50 meter "Terraspec" grid for clay mineral analysis. The team
will also conduct a detailed mapping and sampling program
specifically designed to tie together the geology within the area
south of the La Micha Zone, with our new target at the Seis Gramos
Zone.
Once this task is complete, a similar effort will be put forth
in the Santibanez Zone and also in the Zata Zone south of town. The
goal here is to ensure that sufficient geologic and geochemical
data have been gathered in order to successfully guide the next
phase of drilling planned for these areas.
The second group of geologists is tasked with looking within the
concession boundaries for 'new', overlooked, or underexplored zones
which will generate potential drill targets, and additional areas
of resource expansion. Several initial target areas for this effort
have already been identified, including: an area of small mine
workings, and anomalous geochemistry north of the North Nicho Zone,
the NE extensions of the Mina de Oro Zone, the Ubaldo Zone, the
area between Nicho and El Cartucho where tourmaline breccias and
old workings are exposed along road cuts, and also a color anomaly
with copper staining in the SW corner of the concessions at the
Baucarit - Volcanic contact. This program will include field
mapping and sampling, and also mechanized trenching where
warranted.
Assay Results:
Assays from the ongoing mapping, sampling and trenching program
are at different stages of completion, and currently more than 100
analyses are now pending from the laboratory. Results from this
effort will be released accordingly. Recent returns from trenching
at the Benjamin zone included 48 samples containing between .1 and
.3 ppm Au which were also anomalous in Cu and Ag. This new data
will be used to prioritize drill targets within the area.
Corex utilizes a comprehensive QA/QC program consisting of
blanks, sample duplicates and reference samples to ensure best
practices are followed and the data collected is of the highest
quality. All samples were prepared to normal industry standards and
assayed for gold by Fire assay with AA finish by Acme Industrial
Company (ISO 9001:2008 registered quality system).
The project's position within a known porphyry-bearing belt,
lends support to the hypothesis that the mineralization discovered
at Santana to date may be peripheral to and genetically related to
an unexposed porphyry system.
Bruno Barde, P. Geo, manages Corex's exploration and development
programs and is the Qualified Person as defined by National
Instrument 43-101. He supervised the preparation of the technical
information in this release.
About Corex Gold Corp.
Corex Gold Corp. is a Canadian resource company focused on the
acquisition, exploration, and development of precious metal
deposits in Mexico. Corex is currently developing its flagship
property, the Santana Project, which is a new discovery in Sonora,
Mexico. In addition, Goldcorp Inc. (TSX:G)(NYSE:GG) has implemented
an on-going exploration program on Corex's 100% owned Zuloaga
property in Zacatecas, Mexico.
ON BEHALF OF THE BOARD
Craig D. Schneider, President & CEO
Cautionary Statement:
The foregoing information may contain forward-looking statements
relating to the future performance of Corex Gold Corp.
Forward-looking statements, specifically those concerned with
future performance are subject to certain risks and uncertainties,
and actual results may differ materially. These risks and
uncertainties are detailed from time to time in Corex Gold Corp.'s
filings with the appropriate securities commissions.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Corex Gold Corporation Craig Schneider President &
CEO 604.683.2505 604.683.2506 (FAX) Corex Gold Corporation Chris
Bogart VP Corporate Development 604.683.2505 604.683.2506
(FAX)info@corexgold.comwww.corexgold.com
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