AuEx Ventures, Inc.: Additional Gold Mineralization Drilled at West Pequop
November 17 2009 - 8:00AM
Marketwired
AuEx Ventures, Inc. ("AuEx" or the "Company") (TSX: XAU) is pleased
to report additional assay results, including hole WNC-174
reporting 45 feet grading 0.247 ounces per ton gold ("opt") from
the Mountain Top zone at the Company's West Pequop gold exploration
project located in Elko County, Nevada. These results confirm and
extend gold mineralization in the Mountain Top target area with
mineralization still open. This data was provided by the Company's
joint venture partner Agnico-Eagle (USA), Limited. ("Agnico-Eagle")
from drilling completed during 2009 on the 29,000 acre West Pequop
Venture property. The 2009 program, completed at the end of October
2009, comprised 57 drill holes that totaled over 50,000 feet.
Assays for 17 holes are included in this press release while assays
for the final 39 holes are pending. Commenting on the results
Ronald Parratt, President & CEO stated: "The results received
to date from the 2009 program at West Pequop are confirming the
widespread occurrence of gold mineralization. The mineralized zones
are complex and consist of structural and stratigraphic controls as
well as solution and cave collapse breccias. An initial resource
calculation is underway and will be released in early 2010." New
assay results for the West Pequop Venture are as follows:
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Intercept Intercept
Hole ID From To Length Gold From To Length Gold Area
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(feet) (feet) (feet) (oz/T)(meters)(meters) (meters) (gpt)
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WNC150 1.0 10.0 9.0 0.023 0.3 3.0 2.7 0.79 Sec 34
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WN151 965.0 980.0 15.0 0.038 294.1 298.7 4.6 1.30 Acrobat
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WNC154 376.0 383.0 7.0 0.022 114.6 116.7 2.1 0.75 Sec 34
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WN158 620.0 630.0 10.0 0.031 189.0 192.0 3.0 1.06 Sec 34
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and 670.0 695.0 25.0 0.026 204.2 211.8 7.6 0.89 Sec 34
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and 630.0 640.0 10.0 0.041 192.0 195.1 3.0 1.40 Sec 34
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WNC161 727.3 734.3 7.0 0.121 221.7 223.8 2.1 4.14 Acrobat
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WN162 320.0 340.0 20.0 0.026 97.5 103.6 6.1 0.89 Sec 34
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and 485.0 495.0 10.0 0.017 147.8 150.9 3.0 0.58 Sec 34
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WNC163 1014.0 1022.0 8.0 0.151 309.1 311.5 2.4 5.17 Acrobat
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and 1054.0 1060.2 6.2 0.013 321.3 323.1 1.9 0.45 Acrobat
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and 1158.1 1164.8 6.7 0.040 353.0 355.0 2.0 1.37 Acrobat
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and 1167.4 1173.5 6.1 0.013 355.8 357.7 1.9 0.45 Acrobat
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and 1266.0 1273.0 7.0 0.030 385.9 388.0 2.1 1.03 Acrobat
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and 1352.0 1361.0 9.0 0.059 412.1 414.8 2.7 2.02 Acrobat
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WN165 280.0 305.0 25.0 0.028 85.3 93.0 7.6 0.96 Sec 34
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WN167 490.0 515.0 25.0 0.013 149.4 157.0 7.6 0.45 Acrobat
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and 1240.0 1260.0 20.0 0.062 378.0 384.0 6.1 2.12 Acrobat
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and 1290.0 1315.0 25.0 0.093 393.2 400.8 7.6 3.18 Acrobat
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and 1340.0 1350.0 10.0 0.046 408.4 411.5 3.0 1.58 Acrobat
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WNC169 637.0 675.0 38.0 0.069 194.2 205.7 11.6 2.36 Acrobat
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and 683.5 689.7 6.2 0.027 208.3 210.2 1.9 0.92 Acrobat
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and 802.8 813.1 10.3 0.241 244.7 247.8 3.1 8.25 Acrobat
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WN174 60.0 105.0 45.0 0.247 18.3 32.0 13.7 8.46 Mtn Top
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and 140.0 150.0 10.0 0.030 42.7 45.7 3.0 1.03 Mtn Top
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WN176 625.0 645.0 20.0 0.023 190.5 196.6 6.1 0.79 Mtn Top
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Drill holes WN-153, WN-160, WNC-166, WNC-173 and WNC-175 had no
intercepts meeting the minimum reporting requirement of more than 5
feet of 0.01 opt or greater.
Exploration drilling during 2009 at the West Pequop Venture was
conducted mainly in the Section 34, Mountain Top, Acrobat/Juggler
and Range Front target areas. Assay results from these initial 18
holes have generally expanded the extent of gold mineralization in
all known areas with the best intercept from the Mountain Top zone.
Assays for 31 drill holes are pending and should be released before
the end of the year and before the first resource estimate. These
resources will be accretive to the growing resource within the new
Pequop Gold District which includes the Long Canyon deposit in
joint venture with Fronteer Development Group Inc.
Gold mineralization at West Pequop is present in at least three
distinct stratigraphic positions within the enclosing Cambrian and
Ordovician limestone and dolomite assemblages. Mineralization
remains open and other exploration targets on the large exploration
property remain to be drill tested. Gold mineralization encountered
has been typical of oxidized Carlin-type occurrences and is
commonly associated with faulting, felsic dikes and solution
collapse breccias. Maps showing the locations of drill holes at
West Pequop are posted on the company's website.
As reported to AuEx by Agnico-Eagle, all drill samples were
collected following standard industry practice and were assayed by
American Assay Laboratories, Inc. of Sparks, Nevada. Gold results
were determined using standard fire assay techniques on a 30 gram
sample with an atomic absorption finish. Samples assaying over 3
parts per million gold are routinely re-assayed using standard fire
assay techniques on a 30 gram sample with a gravimetric finish.
QA/QC included the insertion of numerous standards and blanks into
the sample stream. Check assays and preliminary cyanide amenability
testing is underway. All intercepts are reported as drilled and
true widths have not been calculated. All data, as reported to the
Company by Agnico-Eagle and disclosed in this press release,
including sampling, analytical and test data, have been reviewed by
the Company's qualified person Mr. Ronald L. Parratt, M.Sc., and
Certified Professional Geologist. Further details concerning the
West Pequop property are described in the Company's National
Instrument 43-101 report filed on Sedar and are on the Company's
website at www.auex.com.
AuEx Ventures, Inc. is a precious metals exploration company
that has a current portfolio of twenty three exploration projects
in Nevada, two projects in Argentina and one project in Spain. The
Company controls about 176,000 acres of unpatented claims and fee
land in prospective areas of Nevada. Eleven of the projects are in
exploration earn-in or formal joint venture agreements with seven
companies who provide exploration funding. The Company applies the
extensive exploration experience and high-end technical skills of
its founders to search for and acquire new precious metal
exploration projects that are then offered for joint venture.
AuEx Ventures, Inc.
Ronald L. Parratt, President & CEO
This release includes certain statements that may be deemed to
be "forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. All statements in
this release, other than statements of historical facts, that
address future production, reserve potential, exploration and
development activities and events or developments that the Company
expects, are forward-looking statements. Although the management of
AuEx believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance, and actual results or
developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include market prices, exploration and development successes,
continued availability of capital and financing, and general
economic, market or business conditions. Please see our public
filings at www.sedar.com for further information.
Contacts: AuEx Ventures, Inc. Ronald L. Parratt 775-337-1545
rparratt@auex.com www.auex.com
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