Corex Gold Corporation
TSX VENTURE : CGE

Corex Gold Corporation

November 25, 2010 06:00 ET

Corex Gold Drills 87 m of 1.04 g/t Au Including 28.6 m of 2.16 g/t Au

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 25, 2010) - Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to report continued exploration success achieved through the 2010 drill program on its Santana Property, Sonora State, Mexico. Up dip and down dip holes were collared in the Nicho Zone. These new holes have encountered significant mineralization. S10-083D which returned 87 m of 1.04 g/t Au also included a higher grade intercept of 28.6 m of 2.16 g/t Au.

Some Drill Highlights Include:

  • S10-083D- 87 m of 1.04 g/t Au (incl. 28.6 m of 2.16 g/t Au)
  • S10-086D- 13.3 m of 1.46 g/t Au
  • S10-086D- 47.5 m of 0.8 g/t Au

Nicho Target
The success from the most recent drill program occurred on a 1000 m x 700 m gold soil anomaly coincident with ground magnetic and IP survey anomalies. The mineralization is controlled within a gold bearing structural corridor that is open in all directions and at depth. Hole S10-83D and S10-86D were drilled on section 101375NW. Hole S10-83D was a down dip hole from hole S10-067R and S10-86D was an up dip hole from hole S10-67R. These holes indicate a widening mineralized zone at depth surrounding the higher grade core, as shown in hole S10-083D, which included 28.6 m of 2.16 g/t Au.

These two holes confirm the high-grade portion of the mineralized zone which is structurally controlled and at least 200 m long, 50 m wide, with a thickness of at least 200 m. Surrounding this high-grade core is a mineralized zone, which is defined by the distribution of the tectonic breccias.

Systematic drilling is continuing at Nicho. The Nicho Zone is open in all directions and these recent holes significantly expand the exploration potential of the project area. Drilling at Nicho is currently on-going to rapidly expand on its resource potential.

Table of Results: Nicho Zone
  From To Interval Grade (gpt) %
Hole # (m) (m) (m) Au Ag Cu
S10-083D 87.7 116.5 28.7 0.54 2.62 NSV
Incl. 87.7 101.5 13.8 0.78 1.52 NSV
Incl. 105.3 108.3 3.0 1.07 15.79 NSV
S10-083D 138.9 242.4 103.5 0.97 1.52 NSV
Incl. 138.9 140.3 1.4 5.29 2.63 NSV
S10-083D 144.0 149.2 5.2 1.03 0.70 NSV
S10-083D 163.7 166.4 2.7 1.10 5.75 0.53
S10-083D 170.2 175.6 5.4 0.89 2.53 NSV
S10-083D 197.3 225.9 28.6 2.16 1.76 NSV
S10-083D 230.5 235.8 5.3 1.59 1.95 NSV
S10-083D 287.2 287.8 0.7 0.91 1.40 NSV
S10-083D 313.0 314.5 1.5 0.94 12.60 NSV
S10-086D 51.2 68.0 16.8 1.16 7.34 0.46
Incl. 51.2 53.5 2.3 0.80 8.12 0.47
Incl. 58.2 68.0 9.8 1.71 9.71 0.63
S10-086D 91.2 94.6 3.4 1.11 3.99 0.37
S10-086D 106.5 154.0 47.5 0.80 1.52 NSV
Incl. 106.5 109.4 2.9 1.36 2.70 0.21
Incl. 115.5 117.3 1.8 2.68 1.00 0.15
Incl. 121.9 131.3 9.3 0.57 1.15 NSV
Incl. 138.6 151.9 13.3 1.46 3.24 0.17
S10-086D 185.6 209.4 23.8 0.85 3.10 NSV
Incl. 185.6 190.9 5.4 1.56 2.71 0.17
S10-086D 200.7 207.5 6.8 1.23 2.50 NSV
*Reported intervals must be at least 1.5 meters wide; drill hole intercepts are reported at a 0.1, 0.2 g/t Au cutoff or a 0.4 g/t Au cutoff including up to 6.2 m and 3.1 m of internal waste. Corex utilizes a comprehensive QA/QC program consisting of blanks, drill rig sample duplicates and reference samples to insure 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). Intercepts are close to true thickness.
* *using cut-off grade of 0.2 gmt gold and 4.5 meter internal low grade limit, hole S10-083D composites include from 138.9 to 225.9, 87 meters at 1.043 g/t Au.

Please click the following link for a map detailing the drill hole location and a typical section. http://www.corexgold.com/i/pdf/Nichotwo.pdf

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.

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., in particular the potential for the Santana property to host a large-tonnage gold-silver-copper porphyry system. 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 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