Corex Gold Corporation
TSX VENTURE : CGE

Corex Gold Corporation

February 14, 2011 09:00 ET

New Deeper 3D IP Survey Commences at Corex's Santana Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 14, 2011) - Corex Gold Corp. (TSX VENTURE:CGE) (the "Company") announces SJ Geophysics Ltd. has started a follow up 3D IP survey on the Santana Project to test the continuity of the mineralized trends at depth, previously identified by the 3D IP survey completed in January 2010.

Passed Findings
The results of the original survey successfully identified four geophysical targets along strike from known mineralization and have indicated a series of structurally controlled resistivity and chargeability anomalies that are broadly coincident with the surface exposure of mineralized structures. The past 3D IP survey identified new drill targets at Nicho, Benjamin, Marmero, Tres Hermanos, and finally Ubaldo areas which were successfully drilled in Corex's 2010 drill program. Most recent of which resulted in the Ubaldo Zone discovery. Follow up drilling is targeted on all of the above mentioned zones for 2011.

Results
The objective of the first survey was the mineralization between the surface and 200 m of depth, and on wider zones of structurally brecciated bodies in contact with high level intrusive plugs. Results of the original survey clearly indicate that known mineralization is associated with moderate to high chargeability and low resistivity readings in the Nicho, Benjamin and Ubaldo Zones.

Interpreted 3-D IP results showed that low resistivity trends are continuous along strike for up to 2,000 meters, with individual robust chargeability anomalies extending along strike in excess of 400 meters. The magnitude of the geophysical anomalies suggests potential for improved width and strike continuity of mineralization at depth.

Please click the following link for a map to view the geophysical map outlining the known and new target areas at: http://www.corexgold.com/i/pdf/ip-map.pdf

New 3D IP Survey
The deeper survey will be acquired with the 3D IP technique which will consist of a modified pole-dipole survey with 100 m spaced dipoles. An estimated 11 lines will be spaced 200 m apart and will be approximately 2400- 3200 m in length.

The objective of the new survey is to define the depth and strike length potential of the Gold mineralization at Nicho and the Gold-Copper mineralization at Ubaldo and Benjamin Zones.

Follow up Work
The purpose of this follow up 3D IP Survey is to identify signatures at depth, (up to 500 m) which will further delineate drill targets and compliment the geophysical targets previously outlined in the January 2010 program. An aggressive 20,000 m drill program including some deep holes has started and will also target deeper targets.

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.

About Corex Gold Corp.

Corex Gold Corp. is a Canadian resource company focused on the acquisition, exploration, and development of precious metal deposits in Mexico. Corex is currently developing its flagship property, the Santana Project, which is a new gold discovery in Sonora State, Mexico. In addition, Goldcorp Inc. has implemented an on-going exploration program on Corex's 100% owned Zuloaga property in Zacatecas State, Mexico.

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. 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