AuEx Signs Wood Hills South Project Earn in Agreement
RENO, NV - AuEx Ventures, Inc. reported the execution of an exploration earn in agreement with NuLegacy Gold Corporation NV concerning the Company's Wood Hills South gold exploration project located in eastern Elko County Nevada about 12 miles to the west of the Company's West Pequop and Long Canyon joint venture projects in the new Pequop Gold District.
The Wood Hills South project totals over 40,000 acres consisting of optioned fee land and mineral rights and 451 unpatented mining claims that are owned by the Company. It is largely a pediment covered gold exploration target that was developed through evaluation of regional geophysical data combined with outcrop mapping and rock chip sampling. Evaluation of this data led to the recognition of a possible geologic setting that appears similar to the geologic setting related to gold mineralization in the nearby Pequop Gold District. NuLegacy will commence exploration at Wood Hills South in January 2010 and will initially focus on gathering ground based geophysical data and significant additional surface geochemistry. Data from these efforts will be used to develop targets for an initial drilling program scheduled for either late 2010 or early 2011.
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