Corex Gold Corporation

Corex Gold Corporation

October 06, 2010 06:00 ET

Corex Steps Out on Two Holes and Intersects 29.0 m of 0.71 g/t Au, and 56.4 m of 0.47 g/t Au Including 6.1 m of 2.1 g/t Au

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2010) - Corex Gold Corp. (TSX VENTURE:CGE) (the "Company") is pleased to report continued exploration success achieved through the 2010 drill program on its Santana Property, Sonora State, Mexico. Hole S10-071R, a 50 m step out from S10-060D, returned 29.0 m of 0.71 g/t Au. S10-067R, a 25 m step out hole from hole S10-060D, returned 56.4 m of 0.47 g/t Au including 6.2 m of 2.1 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.

S10-067R is a 25 m step out hole north-west of hole S10-060D which returned 79.7 m of 0.97 g/t Au, including 29.2 m of 1.88 g/t Au. S10-067R intersected, from 39.6 m to 283.5 m, favorable brecciated andesite and tectonic breccia with speculerite and pyrite. This 150 m intercept is along the edge of the chargeability high, with the rest of the hole cutting an un-mineralized pyritic halo. This hole is of particular importance as it appears to have confirmed a mineralized horizon intersected in hole S10-060D.

S10-071R, a 50 m south-east step out hole from hole S10-060D which returned 79.7 m of 0.97 g/t Au, including 29.2 m of 1.88 g/t Au, intersected 29.0 m of 0.71 g/t Au in tectonic breccia, just above the interpreted chargeability high. The significance of this hole is that the Nicho zone is still open for about 150 m to the south with good gold in soils on the edge of the chargeability high towards the Nicho fault.

Hole # Sect. From (m) To (m) Interval (m) Grade (gpt) %
Au Ag Cu
S10-067R 101375NW 38.10 94.5 56.4 0.47 1.52 NSV
Include   38.1 39.6 1.5 0.69 2.3 NSV
Include   48.8 54.9 6.1 2.1 2.5 NSV
S10-067R   103.6 198.2 94.5 0.44 1.4 NSV
Include   109.7 146.3 36.6 0.52 1.8 NSV
Include   166.1 181.4 15.2 0.89 2.1 NSV
S10-071R 101300NW 44.2 73.2 29.0 0.71 3.2 NSV
S10-071R   82.3 85.3 3.1 0.39 2.5 NSV
Include   83.8 85.3 1.5 0.51 3.1 NSV
S10-072R 101150NW 80.8 82.3 1.5 1.22 0.8 NSV
S10-072R   96.0 97.5 1.5 0.26 1.7 NSV
*Reported intervals must be at least 1.5 meters wide; drill hole intercepts are reported at a 0.2 g/t Au cutoff or a 0.4 g/t Au cutoff.
Intervals contain no more than four low-grade to barren samples between mineralized samples containing over 0.2 g/t Au.
Intervals contain no more than two low-grade to barren samples between mineralized samples containing over 0.4 g/t Au.
Corex utilizes a comprehensive QA/QC program consisting of blanks, drill rig sample duplicates and reference samples to ensure 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.

S10-072R, a 250 m step out to the east of S10-071R, tested a gold in soil anomaly and returned weak mineralization in brecciated andesite. The strong chargeability high is located 150 m to the north-east of hole S10-072R and extends 300 m to the south-east. Corex Gold is planning three more holes to test this chargeability high.

Please click the following link for a map detailing the drill hole location and highlights:

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.


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
    Corex Gold Corp.
    Chris Bogart
    VP Corporate Development
    604-683-2506 (FAX)