Drilling Expands
RENO, NV - AuEx Ventures, Inc. reported new gold drill intercepts from the ongoing infill/extension and exploration drilling program underway at the Company's 49% owned Long Canyon gold exploration project located in Elko County, Nevada. Fronteer Development Group, Inc. operator and 51% owner, provided these results to the Company from 29 of the initial holes completed during the 2009 drilling campaign. These first drill results continue to demonstrate the strength and continuity of the existing
The 2009 program began with a series of 17 large, PQ sized (4.5 inch diameter) core holes drilled as infill/extension holes to demonstrate continuity of gold mineralization and as well as to provide non-outcropping gold mineralization for additional metallurgical testing. These holes have provided excellent confirmation of the geologic model for the
Reverse circulation drilling commenced initially on an exploration target 400 meters to the southeast of the Discovery Zone. A series of widely spaced fences of holes in the area have returned additional shallow, oxide gold values present in what is now referred to as the Syncline Zone including 25 feet grading 0.086 ounces per ton gold in hole LC233. Additional reverse circulation drilling is planned for this area later this year. Other exploration targets are planned to be tested with reverse circulation drilling over the course of the next few months as part of the 2009 program.
The Long Canyon gold deposit consists of a series of multiple, parallel northeast directed zones aggregating 800 to 1,000 feet in width with a strike length of approximately 1.1 miles (1.7 kilometers) hosted within a sequence of eastward dipping Cambrian and Ordovician limestone and dolomite. Mineralization is oxidized, starts at the surface and is mostly, if not entirely, above the water table. The mineralization is still open to the northeast and 1,600 feet (480 meters) of surface anomaly on the southwest defined by gold soil chemistry and gold outcrop sample data is still undrilled. The 2009 exploration and development drilling program is planned to test both of these areas as well as others.
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