Goldex Resources Corporation

Goldex Resources Corporation

September 07, 2011 09:30 ET

Goldex Drills 15g/t Au Over 4.5m at El Pato

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - Goldex Resources Corporation (TSX VENTURE:GDX)(WKN:120488) ("Goldex" or the "Company") today announced further high grade gold assays from the summer 2011 drill program at El Pato. The results were in keeping with previous assays released in August 2011. The final five holes reinforced the mineralization model at El Pato with significant grades reported across the board.

Highlights include 1.5m intervals of 26 g/t Au and 14 g/t Au in hole 16 which contains an average grade of 15 g/t Au over 4.5m.

These results mark the completion of the summer 2011 Drill Program and provide valuable data to better ascertain further drill targets. Bulk Sampling is currently under way as part of an overall plan that includes detailed surveying with a total station GPS and mapping, the confirmation of results in historic trenches as well as new drill targets over reduced spacing to bring results into compliance with NI 43-101. This plan will also provide the geological teams with a better understanding of the nature of the deposit at El Pato including the direction and length of the veins.

Chuck Ross, President of Goldex commented that: "Once again these results are very encouraging as all five holes showed significant mineralization. These continue a trend of better than expected results at El Pato that include the trench grades on the dip slope (see news May 18th) and the thirty metres of high grade intercepts (see news August 17th) that we now suspect may be a continuation of the vein from the dip slope into a new, previously unforeseen area. With continued drilling, ongoing geological work and the results from these drill holes we hope to prove up the figures we have on the property and potentially increase the overall resource significantly."

Update El Arco: Goldex representatives are currently pursuing permit approval for a planned 4000m RC drill program in the state of Durango, Mexico. Approval is expected in at the end of September with the intention of having drills turning in early October.

The table below highlights sample grades over 1 g/t Au in all five holes.

id sample Hole From To Interval Au g/t
15065 GDXP-015 91.44 92.96 1.52 2.48
15066 GDXP-015 92.96 94.48 1.52 2.34
15047 GDXP-015 27.43 28.95 1.52 1.94
15064 GDXP-015 89.91 91.44 1.53 1.55
15060 GDXP-015 48.76 50.29 1.53 1.48
15014 GDXP-016 83.82 85.34 1.52 26.30
15015 GDXP-016 85.34 86.86 1.52 14.51
15013 GDXP-016 82.29 83.82 1.53 5.65
15001 GDXP-018 101.77 103.73 1.96 6.29
15002 GDXP-018 103.73 105.81 2.08 5.43
14999 GDXP-018 100.58 101.77 1.19 2.66
14998 GDXP-018 99.06 100.58 1.52 1.11
14990 GDXP-021 30.48 32.00 1.52 5.65
14973 GDXP-021 22.86 24.38 1.52 1.20
15077 GDXP-022 111.58 112.77 1.19 13.49
15078 GDXP-022 112.77 113.94 1.17 10.95
15074 GDXP-022 108.20 109.72 1.52 3.10
15072 GDXP-022 106.68 108.20 1.52 2.58
15076 GDXP-022 109.72 111.58 1.86 2.17
15069 GDXP-022 102.10 103.63 1.53 2.13
15070 GDXP-022 103.63 105.15 1.52 1.05
Results were collected from gold by fire assay with an AA finish performed by Inspectorate Labs located in Reno, Nevada. Samples were shipped from Inspectorate Labs in Guatemala City after being transported there from the El Pato site by the Goldex geological team.
True width has not been determined.
Of a total of eighty two samples taken: twenty one contained values over 1 g/t, seven contained values above 0.5 g/t, twenty seven contained values between 0.5 and 0.1 g/t Au while the remaining samples contained < 0.1 g/t Au.

This news release has been reviewed by Larry Kornze, a qualified person consistent with NI 43-101.

Charles E. Ross, Director and President


About Goldex Resources Corp.

Goldex is a junior resources company exploring for gold in the Americas. A twelve hole drill program has recently been completed on the flagship El Pato property, bulk Sampling and trenching are now underway. Goldex is in application for an Exploitation Licence at El Pato with a view to putting the principle areas of high grade surface mineralization on the property into production. Goldex also has rights to the El Arco project in Mexico which will shortly be host to a 4000m RC drill program (see news release dated July 20th, 2011) and the La Chorrera property, also in Guatemala. Goldex is listed on the Toronto Venture Exchange (TSX VENTURE:GDX).

For regular updates please email using Goldex News in the title box.

Forward-Looking Statements

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.

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.

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