Corex Gold Corporation

Corex Gold Corporation

March 04, 2010 06:00 ET

Corex Gold Corp: IP Delineates Four New Major Targets

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2010) - Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to announce the recently completed 3-D IP geophysical program at its Santana Project, Mexico, has successfully identified four geophysical targets along strike from known mineralization and has mapped a series of structurally controlled resistive and chargeability anomalies that are broadly coincident with the surface exposure of mineralized structures.

(View the Santana Project Chargeability Map with target Zones:

IP Survey Background

The IP survey was designed to test the continuity of the mineralized trends already identified by the mapping, geochemical survey and 5,000 metres of RC drilling that encountered significant gold mineralization in an area of epithermal-style favorable alteration (91.1m @1.04 g/t Au - SR08-05). The IP survey was completed with the 3-D IP technique which consisted of a modified pole-dipole survey with 50-metre-spaced dipoles. A total of 19 lines spaced 100 metres apart and averaging approximately 1,300 metres in length were completed. IP surveys are used as prospecting tools to identify zones of sulphide mineralization that are buried or hidden.

IP Survey Results

Four new target areas are as follows:

Ubaldo Zone: Large chargeability high centered near 8600N / 4450E appears as NE elongated body, some 500 m NE by 100 m NW ( at 150m depth). The core at the NE end may orient perpendicular (NW) following along a NW fault.

Marmero area: Large semi-circular chargeability high located in the NE sector, centered near 9600N / 5500E. Inversion suggests the zone is approximately 400m in diameter. This anomaly is different from others in that it located beneath the high surface resistivity responses associated with plagioclase biotitic porphyry. At depth (200m) the chargeability response is associated with a resistivity low. This area occurs at the intersection of the same general NW and NE intersecting near surface lineation's that is observed across the entire survey area.

Benjamin North: The IP suggest a possible target zone extending from about 3500E to 4150E or 650 m. The target zone should be at or near surface in the vicinity of the mapped breccia zones and be buried to the southwest (along plunge) and to the northwest (along dip). The target area is approximately 500 meter wide.

Tres Hermanos: 8500N / 5500E. This area is about 400m south of the El Nicho target and 300m NW of the La Micha target. It is focused on a cluster of mapped breccia zones that lie above a shallow ( less than 100m deep) isolated chargeability high. The zone appears to be located immediately east of a steep, easterly dipping contact defined by a resistivity low.

Continuity at Depth

Interpreted 3-D IP results show that low resistivity trends are continuous along strike for up to 2,000 meters, with individual robust resistive anomalies extending along strike for in excess of 400 meters. The magnitude of the geophysical anomalies suggests potential for improved width and strike continuity of mineralization at depth.

Geophysical testing over the entire Central Grid Area has shown that the high chargeability roughly corresponds with the old and new targets. The highest chargeability occurs at depth, which suggests the zone of potential gold mineralization extends to depth.

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.


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
    Corex Gold Corporation
    Chris Bogart
    VP Corporate Development
    604.683.2506 (FAX)