Corex Gold Corporation
TSX VENTURE : CGE

Corex Gold Corporation

November 19, 2009 10:43 ET

Corex Gold Expands Santana Gold Project with Significant Drill Intercepts

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2009) - Corex Gold Corp. (TSX VENTURE:CGE) (the "Company"), is pleased to report continued exploration success achieved through the 2009 drill program on its Santana Property, Sonora State, Mexico. A major step-out hole was collared 400m southwest of SR08-39 in a new gold zone via SR09-27 121.6 m of 0.8 g/t Au. This program has also successfully extended known oxide gold mineralization with significant drill intercepts such as SR09-31 60.8 m of 1.05 g/t Au. In addition, the program has identified a high grade feeder zone in hole SR09-33 19.9 m of 2.3 g/t Au 444 g/t Ag.

Drill Summary

El Nicho Zone (previously Santa Lucia, Divisadero, El Nicho)
Drilling results to date have confirmed the continuity of mineralization within a gold bearing structural corridor that is open at depth and along strike to the northwest and southeast. Of particular note is hole SR09-27 (122 m of 0.8 g/t Au, including 32 m of 1.2 g/t Au at the bottom of the hole) which is 400 m step-out from hole SR09-39 (66.4 m of 0.97 g/t Au).

El Nicho North (previously Turena, Turena North)
Holes SR09-26, 28 and 29 were drilled into the Nicho North Zone, and positioned approximately 450 meters northwest of the SR09-39 in the Nicho Zone. The holes successfully tested for continuity of mineralization at the western margin of the Zone discovered in 2008. SR09-29 returned 26 m of 0.93 g/t Au and the zone remains open to the northwest and southeast towards hole SR09-37.

Benjamin Zone
The zone is mostly controlled by a Northeast structure extending from Benjamin to the southwest through El Nicho North for a northeasterly strike of two and half kilometers. High grade intercepts have been identified such as SR09-33 (19.9 m of 2.3 g/t Au & 444 g/t Ag) which confirms continuity of mineralization between SR08-09 and SR08-14. The company believes these high grade feeder zones have the potential to develop into substantial tonnage of higher grade gold mineralization.

Drill Results Highlights:

Hole #From
(m)
To
(m)
Interval
(m)
Grade (gpt)
Au
SR09-2018.335.116.81.25
     
SR09-2212.229.016.80.73
 36.6  109.7 73.1 0.47
Incl.42.663.821.20.97
     
SR09-2633.551.818.30.59
 96108.212.20.59
     
SR09-270121.6121.60.8
 Incl.89.9121.631.71.15
     
SR09-2815.265.550.30.48
     
SR09-2945.771.625.90.93
     
  SR09-310131.01310.57
 57.8118.660.81.05
     
 SR09-3315.2035.1019.92.30
     
SR09-3518.376.257.90.44
     
SR09-3624.456.432.00.5
     
 SR09-3921.333.512.20.47
 71.4731.61.28
 62.585.322.80.16
 103.6170.066.40.97
     

*All intersections are down-hole, and true thickness of mineralization is yet to be determined. Dip of the holes is between 45o – 50o

For a complete list of assay results for drill holes SR08-01 through SR09-41, a drill hole location map and sections, please visit Corex's website at: http://www.corexgold.com/s/Santana.asp?ReportID=367782

"We are extremely pleased with the drill results to date from the Santana drill program," states President & CEO Craig Schneider. "These results, in conjunction with intercepts from our 2008 drilling, define a variably mineralized corridor measuring some 800 meters in width along 2.3 kilometers in length. The 2009 exploration program has shown there is excellent potential to develop a significant gold resource at our Santana Project. We think this is a locally folded stratigraphy and if accurate this will give the project significant potential at depth.

We are now proceeding with a geophysical survey and the planning of our 2010 drill program that will test continuity between the know corridors and test newly identified gold zones."

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). In addition to the certified Acme labs internal quality control measures, the Company has implemented a quality assurance and quality control program which includes insertion of appropriate standards, duplicates 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. 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

Contact Information

  • Corex Gold Corp.
    Craig Schneider
    President & CEO
    604.683.2505
    or
    Corex Gold Corp.
    Chris Bogart
    VP Corporate Development
    604.683.2505
    604.683-2506 (FAX)
    info@corexgold.com
    www.corexgold.com