News Releases
| Thu Sep 25, 2008 Corex Commences First Phase Drill Program on Santana Property | |
| VANCOUVER, BC - Corex Gold Corp. (the "Company") is pleased to announce that a First Phase reverse circulation drill program has commenced on the Santana Property located in Sonora State, Mexico. The Property has numerous historic small-scale gold mining operations, past production is unknown. The company has awarded the drill contract to Layne Drilling of Hermosillo, Mexico. The Santana property covers approximately 7,000 hectares and is located approximately 200 kilometers east-southeast of Hermosillo within the mineral rich, Sierra Madre Occidental gold-silver, copper porphyry belt. Santana offers gold-silver and copper porphyry targets in a district scale setting, offering the potential to host substantial precious and base metal resources. The drill program is targeting excellent results received from the exploration work completed during 2008, which included extensive rock-chip and channel sampling as well as detailed mapping throughout the property. To date, 627 rock chip surface samples have been taken at Santana over an approx. 6 km x 6 km area with the majority concentrated on an approx. 1.5 km x 2 km zone. Assay results have been received for 603 samples. Results for the remaining 24 are pending. The highest gold & silver values obtained to date are 11.65 g/t Au & 457.6 g/t Ag. Twelve samples have Au values greater than 2.00 g/t with an average grade of 5.27 g/t. Of the 603 samples with results, 204, or 33.8%, have Au values greater than 0.10 g/t. The average grade for the samples is 0.70 g/t Au. Seventy-one samples have Au values greater than 0.50 g/t with an average grade of 1.61 g/t and 29 samples have Au values greater than 1.00 g/t with an average grade of 2.93 g/t. Detailed mapping & sampling have concentrated on an approximately 1200 m x 1800 m zone with sporadic outcrops hosting extensive iron oxides and phyllic alteration and, locally, quartz vein stockwork breccias characteristic of alteration associated with a copper-gold porphyry system. Corex is rapidly advancing geologic mapping and sampling on the Santana property and has defined numerous gold and silver bearing structures and alteration zones that warrant additional geologic work. Gold-silver mineralization is hosted in an approximately 2 square km area of strong, low sulfidation alteration characterized by pervasive and structurally controlled sericite-illite alteration, with associated disseminated iron oxides, quartz vein stockwork and clay alteration. Numerous prospect pits and small mines are evident within this zone. The alteration is hosted in intermediate flows, tuffs, and comagmatic dikes and plugs. Gold and silver mineralization is controlled by both lithologic and structural features. The area of interest has never had any drilling to date. Alan D. Hitchborn, Vice President-Exploration, manages Corex's exploration and development programs. Matthew D. Gray, Ph.D., C.P.G., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release. ON BEHALF OF THE BOARD "Craig D. Schneider" President and CEO For additional information on Corex Gold Corp please contact: Tel: 604.683.2505 Fax: 604.683-2506 E-mail: info@corexgold.com The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release. 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. | |
