Corex Gold Corporation
TSX VENTURE : CGE

Corex Gold Corporation

November 17, 2010 09:54 ET

Corex Gold Drills 89.23 m of 1.16 g/t Au Including 8.5m of 3.48 g/t and 53.9 m of 1.78 g/t at Santana, Sonora State, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 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. Step out and down dip holes were collared in the Nicho Zone. These new holes have encountered significant mineralization. S10-079D which returned 89.23 m of 1.16 g/t Au including 8.5m of 3.48 g/t and 53.9 m of 1.78 g/t.

Some Drill Highlights Include:

  • S10-079D - 89.23 m of 1.16 g/t Au (including 8.5m of 3.48 g/t and 53.9 m of 1.78 g/t Au)
  • S10-076D - 31.3 m of 1.39 g/t Au
  • S10-070D - 27.9 m of 1.22 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. The significance of these most recent results is 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 and has a strike of 400 m, a width of 400 m and an average thickness of 200 m.

Detailed modeling of the high-grade portion of the deposit indicates that the high-grade mineralization is controlled by several echelon structural zones, suggesting significant potential for finding additional high-grade zones.

The Nicho Zone is open in all directions and significantly expands 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 Length Comp Comp Comp
Hole ID (m) (m) (m) Au ppm Ag ppm Cu %
S10-079 71.0 160.2 89.2 1.16 3.12 NSV
Include 78.5 132.5 53.9 1.78 4.33 0.15
Include 78.5 87.1 8.5 3.48 5.7 NSV
  193.0 196.1 3.1 1.32 3.19 NSV
S10-079 216.9 258.5 41.7 0.54 0.99 NSV
Include 220.2 242.6 22.4 0.77 1.11 NSV
S10-077D 136.4 161.2 24.8 1.11 4.5 0.13
S10-076D 6.0 24.0 18.0 0.35 3.87 NSV
Include 16.8 18.0 1.2 2.37 3.9 NSV
S10-076D 41.7 54.0 12.3 0.39 0.95 NSV
Include 48.0 54.0 6.0 0.61 1.06 NSV
S10-076D 107.0 112.2 5.2 2.41 1.7 0.1
S10-076D 120.0 151.3 31.3 1.39 2.87 0.17
Include 142.5 151.3 8.8 3.71 5.45 0.28
S10-076D 157.7 191.7 34.0 0.63 2.1 NSV
Include 168.7 185.0 16.3 1.06 2.6 NSV
S10-074D 44.9 85.5 40.6 0.73 2.02 0.1
Include 77.6 85.5 7.9 2.33 2.06 0.16
S10-074D 125.5 206.8 81.3 0.5 1.68 NSV
S10-071R 44.2 73.2 29.0 0.71 3.22 NSV
S10-071R 62.5 73.2 10.7 1.28 6.38 NSV
S10-070D 105.4 126.5 21.1 0.76 15.18 0.25
S10-070D 105.4 111.8 6.4 1.19 38.68 0.4
S10-070D 115.2 117.0 1.9 1.72 13.77 0.62
S10-070D 122.3 124.0 1.7 1.72 8.8 0.46
S10-070D 134.5 159.7 25.2 0.37 1.5 NSV
Include 134.5 140.3 5.8 0.65 1.88 NSV
S10-070D 193.0 210.1 17.1 0.33 0.87 NSV
Include 193.0 195.7 2.7 1.07 0.86 NSV
S10-070D 217.5 245.4 27.9 1.22 1.5 0.14
Include 217.5 218.8 1.3 6.85 7.44 0.77
S10-070D 224.9 229.8 5.0 2.33 1.86 0.22
S10-070D 234.4 244.3 9.9 1.23 1.5 0.14
S10-070D 253.7 266.7 13.0 0.49 0.81 NSV
S10-069R 0 10.7 10.7 0.72 1.64 NSV
Include 0 4.6 4.6 1.43 1.13 NSV
S10-069R 18.3 27.4 9.1 0.66 4.69 NSV
S10-069R 38.1 41.1 3.1 0.5 2.49 NSV
S10-069R 152.4 166.1 13.7 0.31 1.96 NSV
S10-069R 160.0 164.6 4.6 0.5 1.76 NSV
S10-068D 49.3 51.0 1.7 0.64 2.7 NSV
S10-068D 69.3 84.4 15.1 0.32 1.29 NSV
Include 70.6 72.4 1.8 0.93 1.0 NSV
S10-068D 119.6 129.0 9.4 0.42 1.76 NSV
S10-068D 122.5 126.0 3.5 0.79 4.01 NSV
S10-068D 141.0 145.6 4.6 0.48 0.84 NSV
Include 141.0 142.5 1.6 0.88 1.4 NSV
S10-068D 186.5 194.4 7.9 0.53 0.6 NSV
S10-068D 189.7 194.4 4.7 0.76 0.86 NSV
S10-068D 203.8 205.2 1.5 0.56 0.7 NSV
S10-068D 238.5 278.6 40.1 0.33 0.42 NSV
S10-068D 238.5 246.8 8.3 0.46 0.32 NSV
S10-068D 251.4 255.6 4.3 0.51 0.29 NSV
S10-068D 276.5 278.6 2.1 0.75 2.09 NSV
S10-067R 38.1 94.5 56.4 0.47 1.52 NSV
Include 38.1 39.6 1.5 0.69 2.3 NSV
S10-067R 48.8 54.9 6.1 2.1 2.46 0.19
S10-067R 79.3 82.3 3.1 0.46 2.35 NSV
S10-067R 86.9 94.5 7.6 0.73 2.22 0.17
S10-067R 103.6 198.1 94.5 0.44 1.4 NSV
Include 115.8 125.0 9.2 0.71 2.76 0.16
S10-067R 131.1 146.3 15.2 0.64 2.06 NSV
S10-067R 166.1 181.4 15.2 0.89 2.08 NSV
S10-067R 189.0 190.5 1.5 1.26 2.3 NSV
S10-066R 59.4 71.6 12.2 0.65 0.88 NSV
Include 68.6 71.6 3.1 1.75 2.05 0.11
S10-066R 85.3 121.9 36.6 0.61 2.59 NSV
Include 91.4 100.6 9.1 0.9 3.1 NSV
S10-066R 108.2 109.7 1.5 5.79 2.0 NSV
S10-066R 150.9 152.4 1.5 0.89 6.7 0.43
S10-066R 233.2 254.5 21.3 1.41 3.6 0.24
Include 234.7 253.0 18.3 1.61 3.88 0.27
S10-066R 289.6 294.1 4.6 0.31 1.43 NSV
Include 289.6 291.1 1.5 0.59 3.0 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.

Please click the following link for a map detailing the drill hole location and a typical section. The table with the drill hole locations, dips, lengths and .2 g/t comp. will also be updated on website shortly:

http://www.corexgold.com/i/pdf/Nicho.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 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