New Deeper 3D IP Survey Commences at Corex's Santana Project
14 Febbraio 2011 - 3:00PM
Marketwired
Corex Gold Corp. (TSX VENTURE: CGE) (the "Company") announces SJ
Geophysics Ltd. has started a follow up 3D IP survey on the Santana
Project to test the continuity of the mineralized trends at depth,
previously identified by the 3D IP survey completed in January
2010.
Passed Findings
The results of the original survey successfully identified four
geophysical targets along strike from known mineralization and have
indicated a series of structurally controlled resistivity and
chargeability anomalies that are broadly coincident with the
surface exposure of mineralized structures. The past 3D IP survey
identified new drill targets at Nicho, Benjamin, Marmero, Tres
Hermanos, and finally Ubaldo areas which were successfully drilled
in Corex's 2010 drill program. Most recent of which resulted in the
Ubaldo Zone discovery. Follow up drilling is targeted on all of the
above mentioned zones for 2011.
Results
The objective of the first survey was the mineralization between
the surface and 200 m of depth, and on wider zones of structurally
brecciated bodies in contact with high level intrusive plugs.
Results of the original survey clearly indicate that known
mineralization is associated with moderate to high chargeability
and low resistivity readings in the Nicho, Benjamin and Ubaldo
Zones.
Interpreted 3-D IP results showed that low resistivity trends
are continuous along strike for up to 2,000 meters, with individual
robust chargeability anomalies extending along strike in excess of
400 meters. The magnitude of the geophysical anomalies suggests
potential for improved width and strike continuity of
mineralization at depth.
Please click the following link for a map to view the
geophysical map outlining the known and new target areas at:
http://www.corexgold.com/i/pdf/ip-map.pdf
New 3D IP Survey
The deeper survey will be acquired with the 3D IP technique
which will consist of a modified pole-dipole survey with 100 m
spaced dipoles. An estimated 11 lines will be spaced 200 m apart
and will be approximately 2400- 3200 m in length.
The objective of the new survey is to define the depth and
strike length potential of the Gold mineralization at Nicho and the
Gold-Copper mineralization at Ubaldo and Benjamin Zones.
Follow up Work
The purpose of this follow up 3D IP Survey is to identify
signatures at depth, (up to 500 m) which will further delineate
drill targets and compliment the geophysical targets previously
outlined in the January 2010 program. An aggressive 20,000 m drill
program including some deep holes has started and will also target
deeper targets.
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 gold discovery in
Sonora State, Mexico. In addition, Goldcorp Inc. has implemented an
on-going exploration program on Corex's 100% owned Zuloaga property
in Zacatecas State, 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 Corp. Craig Schneider President & CEO
604-683-2505 Corex Gold Corp. Chris Bogart VP Corporate Development
604-683-2505 604-683-2506 (FAX) info@corexgold.com
www.corexgold.com
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