Corex Gold Corporation
TSX VENTURE : CGE

Corex Gold Corporation

September 29, 2009 07:00 ET

Corex Completes Soil/Rock Sample Program-Delineates New Drill Targets

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2009) - Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to announce the successful completion of a comprehensive mapping and sampling program over the previously identified gold zones on its Santana gold project in Sonora State, Mexico.

Corex completed a 1400 soil sample program on a 50 m x 50 m grid on approximately 4 km of known strike length, 930 rock samples, averaging between 1 m and 2 m in width were collected in 2008 and 2009. As a result of the successful soil sample program Corex will be adding approximately 500 m to its Phase 2 drill program to test newly identified targets in the Divisadero, El Nicho and La Micha Zones.

The program successfully discovered a new gold zone (Tres Hermanas) and filled in extensions between the previously discovered zones all within a 2.3 km by 1.5 km area. Geological mapping shows that the altered zones and gold geochemistry are in areas underlain by Cretaceous to Tertiary age andesite-rhyolite volcanic rocks, and appear to be spatially related to a monzonite pluton that has been intruded into the volcanic stratigraphy. Gold mineralization is hosted by brecciated volcanics with quartz specularite stockwork, in most of the zones.

La Turena and La Turena North Zone outlined by mapping, soil samples and rock samples now measures approximately 500 m by 80 m wide. Soil samples range from 0.23 to 11.8 g/t Au, 43 rock samples returned from 0.14 to 2.2 g/t Au and average 0.71 g/t Au. The zone is associated with an intrusive breccia, associated with quartz and hematite stockwork, the mineralization is of an oxide nature in a broad zone of hematite stained, moderately to strongly quartz-sericite-pyrite-illite altered breccia.

Benjamin Zone has been outlined for a total of 300 m in a north-easterly trend, and averages approximately 80 m in width. Fifty rock chips were collected in the mineralized zone as outlined by favorable geology and a 0.1 g/t Au cut off for the rock samples. These rock samples returned gold values between 0.11 to 11.65 g/t Au. The average gold grade for the rock chips is 1.2 g/t Au.

High gold values above 0.1 g/t Au in soils connect now the Benjamin, Turena and Turena North Zones. Soil samples range from 0.1 g/t Au to 12.5 g/t Au with 11 samples above 1 g/t Au. These 11 samples returned an average of 2.6 g/t Au.

Santa Lucia Zone outlined by mapping, soil and rock samples now measures approximately 250 m by 100 m. Six soil samples, in this zone range between 0.48 and 3.6 g/t Au for an average of 1.62 g/t Au. Twenty rock chips were collected and returned gold values between 0.05 to 2.7 g/t Au. The average gold grade for the rock chips is 0.66 g/t Au.

The Santa Lucia Zone is located 350 m south-east from La Turena and is part of the main North West zone extending from La Micha to the south-east to Turena North Zones to the north-west.

A 20 m long adit located in this zone represents the only significant mining development on the Santana Project. The target area is open on strike. The mineralization is associated with a fault zone in andesitic rocks with argillic-hematite alteration.

El Nicho Zone outlined by mapping, soil and rock samples measures approximately 300 m by 200 m. Seven soil samples, in this zone range between 0.12 and 1.4 g/t Au for an average of 0.7 g/t Au. Sixty rock chips were collected, 20 returned anomalous gold and silver values that range from 0.35 to 0.6 g/t Au and 1.4 to 39.58 g/t Ag. This area is located 350 m southeast of Santa Lucia.

Divisadero Zone outlined by mapping soil and rock samples now extends 500 m in a north-westerly direction and 500 m in a north-easterly direction. The zones average about 150 m in width. High gold values in soils, above 0.1 g/t gold Au connect now the Divisadero, Santa Lucia, El Nicho and La Micha. Soil sample results range from 0.1 g/t Au to 6.3 g/t Au with 18 samples above 1 g/t Au. These 18 samples returned an average of 2.3 g/t Au. Of the 31 rock chips collected, eleven returned gold values ranging from 0.12 to 8.1 g/t Au that averaged 1.38 g/t Au.

La Micha Zone is located 550 m southeast of El Nicho. Eleven soil samples, in this zone range between 0.09 and 0.45 g/t Au, of the eight rock chips collected, four returned anomalous gold values ranging from 0.1 to 0.34 g/t Au.

Tres Hermanas Zone is located 300 m south of Divisadero. It consists of three 100 m by 100 m brecciated rhyolitic plugs and breccias, with strong sericite alteration with hematite and limonite staining. Five soil samples, in this zone range between 0.1 and 3.4 g/t Au for an average of 0.92 g/t Au. Seven rock chips samples were collected and they returned gold values between 0.04 to 0.24 g/t Au.

The gold in soil geochemical map can be viewed by following the following link to the Corex Website: http://www.corexgold.com/i/misc/Santa_2009.pdf

All samples were prepared to normal industry standards and assayed for gold by Fire assay with AA finish. In addition to the laboratories' internal quality control measures, the Company has implemented a quality assurance and quality control program which includes insertion of appropriate standards and blanks into the sample stream.

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, 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.

Contact Information

  • Corex Gold Corporation
    Craig Schneider
    President & CEO
    604.683.2505
    or
    Corex Gold Corporation
    Chris Bogart
    VP Corporate Development
    604.683.2505
    604.683.2506 (FAX)
    info@corexgold.com
    www.corexgold.com