Corex Gold Corporation
TSX VENTURE : CGE

Corex Gold Corporation

September 22, 2010 13:45 ET

Corex Intersects 301.8 m of 0.37 g/t Au (Incl. 16.8 m of 1.63 g/t Au and 70.1 m of 0.67 g/t Au)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 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. S10-065R, a 30 m step out hole from hole S10-058D returned 301.8 m of 0.37 g/t Au including 16.8 m of 1.63 g/t Au. Hole S10-066R, a down dip from S10-058D returned 18.3 m of 1.61 g/t Au and 36.6 m of 0.61 g/t Au.

Nicho Zone
Drilling at Nicho continues to define higher gold grades within the large bulk tonnage gold target The mineralization starts from the surface and extends from the Nicho hill to below the NE bearing Nicho ridge. The mineralization occurs in an intense pervasive propyllitic alteration with associated speculerite-pyrite breccia. The drilling to date confirms the presence of a very robust mineralized system.

S10-065R ended up in the favourable brecciated andesite and tectonic breccia with speculerite and pyrite. Another 400 m of brecciated andesite towards a major 3D-interpreted magnetic low is still open at the south-western end of S10-065 R. This hole is of particular importance as it appears to have encountered a new mineralized horizon at depth.

S10-066R intersected 18.3 m of 1.61 g/t Au in tectonic breccia, just above the interpreted chargeability high at 200 m depth. The significance of this hole is the grade is increasing at depth.

Hole # Sect. From (m) To (m) Interval (m) Grade (gpt) %
Au Ag Cu
S10-065R 101475NW 0.0 301.8 301.8 0.37 0.3 NSV
Include   27.4 97.5 70.1 0.67 3.1 NSV
Include   27.4 35.1 7.7 0.87 1.2 NSV
S10-065R   106.7 141.7 35.0 0.48 6.8 NSV
Include   106.7 111.3 4.6 0.89 41.0 NSV
Include   118.9 132.6 13.7 0.55 1.4 NSV
Include   140.2 141.7 1.5 1.54 4.6 NSV
S10-065R   217.9 234.7 16.8 1.63 8.3 NSV
S10-065R   269.8 272.8 3.05 0.68 7.3 NSV
S10-066R 101350NW 59.4 71.6 12.2 0.65 0.9 NSV
S10-066R 101350NW 85.3 121.9 36.6 0.61 2.6 NSV
Include   91.4 100.6 9.2 0.9 3.1 NSV
Include   108.2 109.7 1.5 5.8 2.0 NSV
S10-066R   234.7 253.0 18.3 1.61 3.9 NSV

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 highlights:

http://www.corexgold.com/i/pdf/Santana-2010-Drill-Overview(2).pdf 

Marmero area
Three holes tested the Marmero area and returned weak mineralization associated with the quartz monzonite batholith and quartz tourmaline breccias. Drilling was set to test a large semi-circular chargeability high located in the NE sector, centered near 9600N / 5500E. Corex plans to initiate additional drilling in this zone to additionally test the edges of the chargeability anomaly.

Hole # Sect. From (m) To (m) Interval (m) Grade (gpt) %
Au Ag Cu
S10-061R 101425NW 30.5 32.0 1.5 0.09 1.9 NSV
S10-059R 101475NW 91.4 92.9 1.5 0.08 4.3 0.20
S10-064R 201825NE 16.8 18.3 1.5 0.22 0.5 NSV

Diamond Drilling/ RC Update
Corex is continuing with the 2010 RC & Diamond Drill program that will test continuity between the know corridors and test newly identified gold zones. To date, Corex has a combined 3000 m of drilling completed that has been sent to Acme Labs and awaiting assaying.

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