Goldex Signs LOI JV For Gold-Silver-Copper Project In Sonora, Mexico

/in /by

Tuesday May 23, 2017

VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE: GDX; Frankfurt: WKN-A2AEDT, Ticker: G6T2) (“Goldex” or the “Company”) is pleased to announce it has entered into a Letter of Intent (LOI) with Mingeo International S.A. De C.V. (the “Vendor”) for an option to acquire a fifty-one per cent (51%) interest in the Mingeo Property (the “Property”) by spending US$500,000 by April 30, 2020 and another US$500,000 by April 30, 2022 or by bringing the property into production and fulfilling certain LOI obligations. The Property consists of six concessions totaling approximately 1947 hectares and is located within the major porphyry belt of Sonora.

Mingeo Project Highlights

The deposit lies within the carbonate rocks of the Mural or Morita Formation Cretaceous siltstones and Paleozoic carbonate sedimentary rocks of the Sonoran Bisbee-Cananea rift basin.
One of the main mineralized structures consists of a low angle dipping quartz epithermal vein/manto with approximately 15° to 20° dip to the NE and a thickness that ranges from 0.50 to approximately 3 metres. Mineralization has been observed to comprise medium grained disseminated pyrite, arsenopyrite, minor chalcopyrite and rare galena. Gangue minerals include quartz, calcite, and barite.  Gold and silver values are believed to be associated with arsenopyrite, chalcopyrite and pyrite.

At this time two quartz vein/manto structures have been identified above and more below the main mineralized structure, but these other structures are yet to be explored in more detail.   Several of these structures have been observed to continue along strike between 500 to approximately 1000 meters and show small old workings in the form of pits or adits. The vein/mantos are hosted within altered shales that in places may be highly fractured and/or may exhibit quartz stockwork veinlets and occasionally may have stains of copper carbonates.

Preliminary Metallurgical testing of seven samples of the quartz vein/manto material was carried out in 2013 by Kappes, Cassiday and Associates (KCA, Reno, NV) and their report indicated yields up to 96% gold recovery and 69% silver recovery using cyanide shake tests. Gravimetric tests were not carried out on the samples submitted at that time.

Information relating to the Mingeo Project provided within this news release is based upon reports from the concession owner, Kappes Cassiday and Associates and numerous reports on the area available through internet sources. These reports are not NI43-101 documents. During Goldex’s due diligence period, the Company has retained a Qualified Person (QP), as defined under NI43-101, to visit and evaluate the property and take samples from the quartz vein/manto and other structures, also to verify the information within this news release. If the information gathered during the due diligence period results in a positive evaluation; it will ultimately be used to prepare a NI43-101 technical report.

Victor A. Jaramillo, M. Sc. (A), P. Geo., a Qualified Person under National Instrument 43-101, and independent from the Company has prepared, supervised the preparation of, or approved the technical content of this press release. Mr. Jaramillo has more than 25 years of experience in exploration and evaluation of precious metal and copper deposits. He has authored numerous NI 43-101 technical and assessment reports and is highly experienced in QA/QC protocols.

CHUCK ROSS, President

GOLDEX RESOURCES CORPORATION

About Goldex Resources

Goldex Resources Corporation is a TSX-listed (GDX) junior resource company exploring for gold in the Americas. Led by experienced resource professionals and a world class geological team Goldex’s operations include prestigious, strategically focused projects in Guatemala and Mexico.

For more information please visit:www.goldex.ca

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.

Forward-Looking Statements

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.

Goldex High Grade Exploration in Guatemala

/0 Comments/in /by
Friday May 19, 2017

VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE: GDX) (“Goldex” or the “Company”) today is pleased to announce that the Company’s geologist has identified multiple additional exciting exploration opportunities within the Company’s concessions and identified regional exploration prospects.

While continuing to work closely with the Guatemala Ministry of Energy & Mines to get approval for a mining license the Company plans to do additional exploration work on El Pato’s Northern zones that have shown multiple surface samples of up to 410 g/t of gold.  The four Northern zone areas sampled El Poxte, El Jabillo, Plan de Guineo and El Pital lie roughly 1-2 km north and north east of the principal zones of El Pato within a similar geological environment, namely granodiorite host rock with epithermal banded quartz veins that contain pyrite and arsenopyrite. Veins are 0.15m to 1.5m in true thickness and trend northwest to north-northwest with low dip angles (20-35 degrees) to the northeast. Surface samples were taken by Alejandro Cacao, Goldex’s senior Guatemalan geologist and Steven Park, a qualified person as defined by National Instrument 43-101. (see press release, April 4th, 2012).

The samples taken show the presence of very high grade gold numbers as well as significant silver grades.  Out of the 58 samples taken, eight reported grades higher than 100 g/t Au with the highest value at 410 g/t Au. The sheer number of high grade samples suggests an exciting region for further exploratio

 

Sample # Thickness Length Au g/t Ag g/t Sampled by
Plan de Guineo/El Pital* Sector
15243 1.00 NA 0.036 <0.1 SP
15244 0.80 0.80 0.862 2.7 SP
15245 0.50 0.50 0.876 4.2 SP
15246 0.80 1.00 35.154 41.7 SP
15247 1.50 NA 0.012 <0.1 SP
15248 0.30 0.50 2.795 11.2 SP
15249 0.20 0.20 4.408 48.2 SP
39765 0.30 0.30 2.537 3.5 AC
39766 1.00 1.00 1.406 16.5 AC
39767 0.50 0.50 302.119 >200.0 AC
100070 1.50 1.50 12.000 100.5 AC
100071F NA NA 240.475 >200.0 AC
100072 0.80 0.80 110.809 166.2 AC
100073 0.40 0.40 17.76 47.2 AC
100074 0.25 0.25 342.919 >200.0 AC
100075 1.00 1.00 34.662 103.3 AC
123756 NA NA 60.342 >200.0 AC
123757 0.50 0.50 4.834 12.1 AC
123758 NA NA 0.857 <0.1 AC
123760 0.50 0.50 0.960 0.4 AC
123762 0.30 0.30 185.550 >200.0 AC
123763 0.40 0.40 410.529 >200.0 AC
123778 1.00 1.00 0.446 4.0 AC
123780F NA NA 0.960 6.3 AC
123784F NA NA 0.069 <0.1 AC
123785F NA NA 8.743 27.2 AC
123786 0.25 0.25 0.411 <0.1 AC
123787 0.40 0.40 0.480 <0.1 AC
123788F NA NA 3.429 7.5 AC
123789F NA NA 0.137 0.2 AC

 

Sample # Thickness Length Au g/t Ag g/t Sampled by
El Poxte Sector
15088 0.50 1.0 35.278 16.3 SP
15089 1.20 0.7 1.098 <0.1 SP
39577 0.15 0.15 171.219 184.8 AC
39578 0.30 0.30 0.137 0.6 AC
39579 1.75 1.00 39.359 11.4 AC
39580 1.50 1.00 129.186 97.5 AC
39581 4.00 1.00 39.222 15.4 AC
39582 4.00 1.00 4.320 4.0 AC
39583 2.00 1.00 0.034 0.2 AC
39803 0.30 0.30 290.840 92.5 AC
39804 0.20 0.20 93.187 23.9 AC
El Jabillo Sector
15087 0.15 1.0 50.035 18.4 SP
15091 1.50 0.6 0.249 0.5 SP
15250 0.40 NA 1.184 0.7 SP
39238 0.50 0.50 68.913 28.9 AC
39239 0.40 0.40 31.679 14.7 AC
39240 0.30 0.30 0.891 1.0 AC
39241 0.50 0.50 11.005 8.6 AC
39439 NA 1.00 10.217 9.9 AC
39440 NA 1.00 0.754 2.3 AC
39441 NA 1.00 2.194 2.1 AC
39447 NA 1.00 9.806 5.4 AC
39449 NA 1.00 0.617 0.8 AC
39450 0.50 0.50 0.480 1.5 AC
39451 NA 1.00 46.970 42.8 AC
39452 NA 1.00 2.606 5.1 AC
39453 NA 1.00 0.891 1.9 AC

 

All samples were submitted to Inspectorate labs in Guatemala for preparation and then sent to Reno, an ISO certified lab for assay. Samples were assayed by utilizing 30-gram fire assays with a gravimetric finish for gold and four acid digestion with atomic absorption finish for Silver. Grab samples are selective and may not be representative of mineralization on the property.  The 58 samples taken include both float and outcrop rock chips of which six samples showed no significant results and are not listed. Float samples are denoted by a sample number ending with ‘F’. Assays marked with an SP denotes Steve Park sampling while those marked with an AC denotes Mr. Cacao’s. *Mr. Park did not sample in the El Pital area. (see press release, April 4th, 2012).

In addition to the potential of the Northern zones, Goldex also has multiple targets with strongly anomalous gold and/or base metals at the surface. One of those targets, Bendicion-Granadillas borders El Pato to the south and is larger in terms of size of its alteration system than the El Pato zone. To date this zone has produced surface samples containing grades up to 6855 ppm copper, 7055 ppm lead and 5298 ppm zinc from limited surface outcrop sampling.  Comparable orogenic deposits in terms of origin, geochemistry of gold mineralization and geometry are the Molejon deposit in Panama (1 M oz), the El Sastre deposit in Guatemala (0.8 M oz.) and the Pogo deposit in Alaska (5.8 M oz.). (see press release, March 5, 2010)

CHUCK ROSS, President
GOLDEX RESOURCES CORPORATION

About Goldex Resources

Goldex Resources Corporation is a TSX-listed (GDX) junior resource company exploring for gold in the Americas. Led by experienced resource professionals and a world class geological team Goldex’s operations include prestigious, strategically focused projects in Guatemala.

For more information please visit:www.goldex.ca

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.

Forward-Looking Statements

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.

Goldex Update on Guatemala

/in /by

Monday May 15, 2017

VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE: GDX) (“Goldex” or the “Company”) today is pleased to announce with the recent announcement that effect February 2016 the new Guatemala government announced they would not longer operate under a moratorium for granting mining licenses.  On January 11, 2017 Gold Corp (TSX: G, NSYE: GG) announced the sale of its Cerro Blanco gold – silver project in Guatemala to Bluestone Resources Inc. (“Bluestone”) (TSXV: BSR).  On February 28, 2017 Bluestone announcement, an increase its financing from $40 to $80 million which they closed on April 20, 2017.  These events indicate increased market confidence in Guatemala mining projects and improved prospects for granting of the Company’s mining license.

Goldex’s 100% owned El Pato Concession covers contiguous leases totalling 244 km2 in Guatemala.  The Company conducted bulk sampling from the Cerrito West zone and produced an average grade of 28g/t Au from surface (see press release, November 29th, 2011). In addition, the surface “dip slope” area in the Cerrito West zone contains an average grade of at least 7 g/t Au. It is these high-grade surface mineralisation zones that the Company intends to exploit first on being granted an mining licence.  Sampling north of El Pato’s principal zones have shown multiple surface samples of up to 410 g/t of gold (see press release, April 4th, 2012).

In December of 2011 Goldex was granted the Environmental Impact Assessment (E.I.A.) portion of the mining licence by the Guatemalan Ministry of Environment and Natural Resources (MARN). Immediately following the E.I.A. approval in December of 2011 the Company posted its reclamation bonds for the property.  Since then, Goldex has maintained close contact with the Guatemala Ministry of Energy & Mines to facilitate processing of the license.

“The news of the Bluestone acquisition of the Cerro Blanco gold-silver project from Gold Corp and its $80 million financing is great news for mining projects in Guatemala.  Goldex is fully committed and is working with the government and the people of Guatemala for the mutual benefit of all involved.”

CHUCK ROSS, President
GOLDEX RESOURCES CORPORATION

 

About Goldex Resources

Goldex Resources Corporation is a TSX-listed (GDX) junior resource company exploring for gold in the Americas. Led by experienced resource professionals and a world class geological team Goldex’s operations include prestigious, strategically focused projects in Guatemala.

For more information please visit:www.goldex.ca

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.

Forward-Looking Statements

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.