News 2011
-
Goldex Releases Assays from Phase One Drill Program at El Arco
VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE: GDX) (“Goldex” or the “Company”) today announced results from the phase one drill program on its Mexican property, El Arco. El Arco represents a newly discovered gold-silver system that has seen no previous exploration activity. The property is located in the Central Plateau gold and silver belt, near the historic silver-lead-zinc district of Tejamen in the state of Durango, Mexico. El Arco demonstrates low sulphidation epithermal-style banded quartz veinlets similar to those found at the surface in the La Cienga district also located in Durango. The project consists of two mineral exploration licenses that cover 3,381 hectares. Surface samples have confirmed the presence of both high-grade gold and silver values.
A 4000m reverse circulation drill program over 13 holes was conducted in January of 2012 to NI 43-101 standards presided over by Steve Friberg, a qualified person as defined by National Instrument 43-101. Drill holes ranged from 100m to 300m in depth over an area of around 1 square kilometre. A number of steep quartz veins are visible at surface and the phase one program was designed to test a model concept of an underlying andesite being a better host rock for mineralization. Andesite was intersected in almost every hole and quartz veins where intersected in all holes. The quartz veins intersected appeared to pinch and swell bothalong strike and down dip. Twelve of the holes were angled to better intersect the quartz vein zones.
Anomalous gold and silver values were intersected in the sampled quartz veins. Each sample measured 5 foot in length. 35 samples contained from 0.10 to 0.63 g/t Au and 2 samples contained in excess of 1 g/t. 54 samples ranged from 1 g/T Ag up to 4 g/T and 3 samples had 5.8 g/T Ag up to maximum of 7.0 g/T Ag. Remaining samples contained no appreciable results. All drill holes encountered abundant groundwater flow which can have an effect on sample quality. Samples were assayed for gold and silver by Inspectorate labs located in Reno, Nevada after being transported from theirsample preparation lab in Durango, Mexico.
A phase two program is now being planned with the aim of testing the system at depth. It has been recommended by the attending QP that a fluid inclusion study be undertaken to determine the level of boiling for the veins to give an idea of whether the target is deeper than currently tested. Exploration of the area immediately to the north of the phase one program is also planned. A preponderance of scattered gold values up to almost 21 g/T have been documented by the surface sampling within the +1,000m long by 500m wide set of NNW-trending quartz veins in the phase one area.
This news release has been reviewed by Steve Friberg, P. Geo., a qualified person consistent with NI 43-101.
Charles Ross, Director and President,
GOLDEX RESOURCES CORPORATION
About Goldex Resources Corp
Goldex is a junior resources company exploring for gold in the Americas. A twelve hole drill program has recently been completed on the El Arco property. Goldex is in application for an Exploitation Licence at El Pato. Goldex also has rights to the La Chorrera property, also in Guatemala. Goldex is listed on the Toronto Venture Exchange (TSX VENTURE: GDX).
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
-
Goldex Assays Multiple High Grade Gold/Silver Samples up to 410 g/t Au from Northern Zones at El Pato
VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE: GDX) (“Goldex” or the “Company”) today announced further high grade gold and silver assays sampled from the newly explored Northern Zones at El Pato, its flagship property in Guatemala.
The four areas sampled were El Poxte, El Jabillo, Plan de Guineo and El Pital. 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. These sectors lie roughly 1-2 km north and northeast 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.
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 exploration that has Goldex geological teams already drawing up plans for next stage programs in the area including a diamond drill program. Goldex will also continue exploration work on the principal sectors of the El Pato zone.
Goldex’s primary focus of recent exploration work has been on the principal zones of the El Pato area: Cerrito, Cerrito West, El Roque and Agua Zarca. Mr. Cacao had also taken reconnaissance rock chip samples in the Northern Zones during this time leading to the identification of several veins in the area. Mr. Park conducted sampling of his own in the Northern Zones during October 2011 which verified Mr. Cacao’s previous sampling work.
Assays are listed in the table below; those marked with an ‘SP’ denote Mr. Park’s sampling while those marked with an ‘AC’ denote Mr. Cacao’s. 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’.
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.
*Mr. Park did not sample in the El Pital area.
This news release has been reviewed by Steven L. Park, P. Geo., a qualified person consistent with NI 43-101.
Charles E. Ross, Director and President
GOLDEX RESOURCES CORPORATION
Update El Arco:
Goldex is expecting the results from the recent 4000m RC program at EL Arco. Drill holes intercepted numerous quartz veins; the deepest holes reached 300m in depth. Drill chip samples are being analyzed for Au and Ag plus a 30-element package on the recommendation of the local Goldex geological team.
About Goldex Resources Corp
Goldex is a junior resources company exploring for gold in the Americas. A twelve hole drill program has recently been completed on the El Arco property. Goldex is in application for an Exploitation Licence at El Pato. Goldex also has rights to the La Chorrera property, also in Guatemala. Goldex is listed on the Toronto Venture Exchange (TSX VENTURE: GDX).
-
Goldex Resources closes Private Placement
VANCOUVER, BC: Goldex Resources Corp. (the “Company”) is pleased to announce that on April 2nd, 2012 the Company closed a private placement for gross proceeds of $196,500. The Company sold 3,930,000 Units (the “Units”) at a price of $0.05 per Unit. Each Unit consists of one common share of the Company (a “Share”) and one transferable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Share at a price of $0.10 for a period expiring one year from the date of issuance. The Company paid finders’ fees totaling $9,800 and 196,000 brokers warrants to Loeb Aron & Company Ltd. and Canaccord Genuity Corp.. All securities issued in connection with the Offering are subject to a statutory hold period expiring August 3rd, 2012 in accordance with the applicable securities legislation.
Proceeds from the Offering will be used by the Company for further exploration on the Company’s properties and general working capital.
CHUCK ROSS, President
GOLDEX RESOURCES CORPORATION
About Goldex
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 both Guatemala and Mexico
For more information please visit: www.goldex.ca
-
Goldex Resources Corp. Announces Progressive IR Consultants Corp as IR Provider
February 2nd – Vancouver, B.C. Goldex Resources Corp. (GDX:TSX.v) is pleased to announce that it has retained Progressive IR Consultants Corp. (“Progressive”) as an investor relations and corporate communications service provider. Progressive is a Vancouver, BC, Canada based company that has provided marketing and investor relations services for publicly traded companies on the TSX and TSX Venture exchanges since 2006.
Progressive has been retained for a period of one year and will be responsible for building Goldex Resource’s investment audience through the dissemination of corporate data packages, broker presentations, broker communications, mining analyst communications, attending trade shows and handling shareholder enquiries regarding the Company.
Progressive will receive $7,500 (plus HST) per month in remuneration and be reimbursed for all approved expenses. The Company will grant Progressive stock options to acquire 650,000 shares in the capital of the Company with an excise price of $0.10c for 325,000 shares with the remaining 325,000 at $0.15c. The options are granted pursuant to the Company’s Stock Option Plan and will vest in accordance with the provisions therein and the policies of the TSX Venture, which require that options granted to a consultant providing investor relations services must vest in stages over 12 months with no more than one quarter of the options vesting in any three month period.
The agreement and grant of options is subject to TSX Venture approval.
Goldex Resources Corp.
On behalf of the Board of Directors
CHUCK ROSS, President
GOLDEX RESOURCES CORPORATION
About Goldex
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 both Guatemala and Mexico.
For more information please visit: www.goldex.ca
For further information on the Company, please contact:
Progressive IR Consultants Corporation
604-689-2881
or
Toby Manson
Goldex Resources Corp.
+1 (604) 669-4300
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 Resources Commences Drilling at El Arco
Tuesday, 24th January, 2012
VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE:GDX) (“Goldex” or the “Company”) is pleased to announce that drills have started turning at El Arco for the planned 4000m drill program.
Goldex plans for a continuing 50 hole, 15,000m exploratory drill program at El Arco depending of results of the first phase 4000m RC program. The EL Arco property is located in the Mexican State of Durango which is host to a number of illustrious neighbors and mines including Great Panther Silver, with its ‘Topia’ Property, Oremex Silvers flagship ‘Tejamen’ concession and Fresnillo PLC’s ‘La Cienega’ mine, previously one of the largest producing gold mines in Mexico. Goldex VP of exploration, Larry Kornze, formally the regional manager of Mexico and Central America for Barrick Gold has called EL Arco “The best undrilled property in the Americas” and was part of the geology team responsible for the planning of the upcoming drill program.
The property at El Arco is a low-sulfidation epithermal gold-silver quartz-vein and stockwork system hosted in Tertiary volcanic and shallow intrusive rocks of rhyolite to andesitic composition within the Serria Madre Occidental physiographic province.
The Arco project area is a new discovery and there is no evidence of previous exploration work or prospecting on the concessions. The work completed on the El Arco properties to date includes surface sampling of veins and rock outcrops and geologic mapping. Permit approval to drill at the concession was recently approved by the relevant governmental agencies (see news Release dated November 23rd, 2011) and letters of approval have also been granted by the local ejido for surface access rights to conduct drilling and other exploration activities.
CHUCK ROSS, President
GOLDEX RESOURCES CORPORATION
This news release has been reviewed and approved by Larry Kornze (P.Geo), a Qualified Person as defined in NI 43-101.
About Goldex
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 both Guatemala and Mexico.
For more information please visit: www.goldex.ca
CHF Investor Relations
Anne Robert, Account Manager
1-514-510-6338
For regular updates please email stephanie@chfir.com using Goldex News in the title box.
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 Resources sign Drill Contract for 4000m Drill Program at El Arco
Thursday, January 5th, 2012
VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE:GDX) (“Goldex” or the “Company”) is pleased to announce the signing of a drill contract with ‘Drift de Mexico S.A de C.V’ a subsidiary of ‘Forage Orbit Garant Drilling’ for an initial drill program of up to 4000m on the company’s El Arco project located in the Durango state of Mexico.
Goldex expects the program to begin shortly and plans for a continuing 50 hole, 15,000m exploratory drill program at El Arco depending of results of the first phase 4000m RC program. The EL Arco property is located in the Mexican State of Durango which is host to a number of illustrious neighbors and mines including Great Panther Silver, with its ‘Topia’ Property, Oremex Silvers flagship ‘Tejamen’ concession and Fresnillo PLC’s ‘La Cienega’ mine, previously one of the largest producing gold mines in Mexico. Goldex VP of exploration, Larry Kornze, formally the regional manager of Mexico and Central America for Barrick Gold has called EL Arco “The best undrilled property in the Americas” and was part of the geology team responsible for the planning of the upcoming drill program.
The property at El Arco is a low-sulfidation epithermal gold-silver quartz-vein and stockwork system hosted in Tertiary volcanic and shallow intrusive rocks of rhyolite to andesitic composition within the Serria Madre Occidental physiographic province.
The Arco project area is a new discovery and there is no evidence of previous exploration work or prospecting on the concessions. The work completed on the El Arco properties to date includes surface sampling of veins and rock outcrops and geologic mapping. Permit approval to drill at the concession was recently approved by the relevant governmental agencies (see news Release dated November 23rd, 2011) and letters of approval have also been granted by the local ejido for surface access rights to conduct drilling and other exploration activities.
CHUCK ROSS, President
GOLDEX RESOURCES CORPORATION
This news release has been reviewed and approved by Larry Kornze (P.Geo), a Qualified Person as defined in NI 43-101.
About Goldex
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 both Guatemala and Mexico
For more information please visit: www.goldex.ca
CHF Investor Relations
Anne Robert, Account Manager
1-514-510-6338
For regular updates please email stephanie@chfir.com using Goldex News in the title box.
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 Resources closes Private Placement
Wednesday, January 4th, 2012
VANCOUVER, BC: Goldex Resources Corp. (the “Company”) is pleased to announce that on January 3rd, 2012 the Company closed the private placement which was announced on November 14, 2011. The Company sold 30,650,000 Units (the “Units”) at a price of $0.05 per Unit for gross proceeds of $1,532,500. Each Unit will consist of one common share of the Company (a “Share”) and one transferable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Share at a price of $0.10 for a period expiring one year from the date of issuance. The Company paid finders’ fees totaling $40,000 and 840,000 brokers warrants to Haywood Securities Inc., Leede Financial Markets Inc., Macquarie Private Wealth Inc., Northern Securities Inc. and PI Financial Corp. All securities issued in connection with the Offering are subject to a statutory hold period expiring May 4th 2012 in accordance with the applicable securities legislation.
Proceeds from the Offering will be used by the Company for further exploration on the Company’s properties and general working capital.
CHUCK ROSS, President
GOLDEX RESOURCES CORPORATION
About Goldex
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 both Guatemala and Mexico
For more information please visit: www.goldex.ca
CHF Investor Relations
Anne Robert, Account Manager
1-514-510-6338
For regular updates please email stephanie@chfir.com using Goldex News in the title box.
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 Resources samples 69.72 g/t Au from the El Roque Sector of its El Pato Project in Guatemala
VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE:GDX) (“Goldex” or the “Company”) today announced sample assay results from the El Roque sector of its flagship El Pato property in Guatemala. The reported samples were collected from trenches in the El Roque Zone along a segment of vein that exceeds 180 metres in strike length exhibiting mineralogy consistent with vein segments in other sectors of the El Pato property.
A total of ten samples were collected from vein outcrops in the El Roque Zone in October 2011 by Steven L. Park, a Qualified Person as defined in NI 43-101.
Sample ID
Sample Type*
Sample Size (m)
Au g/t**
Notes
15209
Panel
0.8 x 1.0
20.47
Quartz vein
15210
Panel
0.5 x 1.0
3.12
Quartz vein
15223
Panel
0.75 x 1.0
19.42
Quartz vein
15224
Panel
1.3 x 1.0
69.72
Quartz vein w/ wallrock
15225
Panel
0.6 x 1.0
37.95
Quartz vein
15226
Panel
1.5 x 0.5
0.51
Shear zone w/ quartz veins
15227
Panel
1.2 x 1.0
1.55
Shear zone w/ quartz veins
15228
Panel
0.8 x 1.0
0.60
Quartz vein
15229
Channel1
1.6
0.22
Quartz vein
15230
Channel1
2.2
0.16
Quartz vein
*The term “panel” sample refers to rock chip sampling across a rectangular surface area oriented orthogonal to the vein and measuring (apparent) Vein Width x 1.0 metre, unless otherwise indicated.
**Samples were analyzed for gold by fire assay with an AA finish by Inspectorate Labs in Reno, Nevada, USA. Samples were transported from the El Pato site accompanied by S. Park to the Inspectorate preparation lab in Guatemala City.
1 Channel sample size indicates apparent vein width cutting perpendicular to the dip and strike of a vein.
The vein system in the El Roque Zone is characterized by irregularly exposed, high-grade quartz veins up to 2.2 metres in width with grades up to 69.7 g/t Au. Veins consist of massive quartz carrying fine-grained sulfides and native gold. The highest grade sample was from a shear zone containing a mixture of quartz veining and silicified granodiorite with broken quartz fragments throughout.
True vein widths were not always available for measurement or sampling in outcrop due to cover. In some cases, true vein widths may be wider than reported here.
El Roque is one of the four principal sectors at EL Pato that also include, Cerrito, Cerrito West, and Agua Zarca. These areas were explored in the late eighties and early nineties by the UN and Guatemalan government and as such have been the focus of exploration to date at EL Pato. Samples were taken as part of an ongoing geological program to establish a resource estimate at EL Pato compliant with NI 43-101 standards and as part of a continuing exploration program designed to guide plans for future mining of gold in high-grade surface zones. Results have already been reported this year for the Cerrito West and Cerrito sectors. Bulk sampling at Cerrito West (see news release dated May 18, 2011) showed average grades of 28.5 g/t Au while results from the Cerrito sector (see news release dated November 29, 2011) showed further high grades of up to 81.93 g/t Au. These results show that significant mineralization exists at the Principal Sectors of EL Pato, with high grade gold evident at surface.
“In the Principal Sectors we are now zeroing in on a model of undulating sheeted or stacked veins with high grade gold also evident in the wallrock. Our ongoing surface sampling programs should help us better define the nature of the resource in these Principal Sectors. We plan to put the high grade surface areas of El Pato into production as soon as we are able. This will provide us with resources to continue to expand exploration activities to include areas surrounding the Principal Sectors. We are currently branching out to the north and southwest of the Principal Sectors and have already received high grade sampling results from the El Sauce area in the south west”, stated Goldex president, Chuck Ross. (see news release dated June 1, 2011)
The El Pato project is located in south-eastern Guatemala, 10 kilometres west of the town of Chiquimula, the closest commercial centre to the project and approximately 110 kilometres east of Guatemala City. The project is accessible via paved road.
CHUCK ROSS, President
GOLDEX RESOURCES CORPORATION
This news release has been reviewed and approved by Steven Park (P.Geo), a Qualified Person as defined in NI 43-101.
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 both Guatemala and Mexico
For more information please visit: www.goldex.ca
CHF Investor Relations
Anne Robert, Account Manager
1-514-510-6338
For regular updates please email stephanie@chfir.com using Goldex News in the title box.
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 Resources Announces Trench Assays Of19.34 G/T Au Over 3.20 Meters And 15.25 G/T Au Over 4.10m From The El Cerrito Sector Of Its El Pato Project In Guatemala.
VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE:GDX) (“Goldex” or the “Company”) today announced sample assay results from the El Cerrito sector of its flagship El Pato property in Guatemala. Samples were taken as part of ongoing geological work at El Pato over the summer and fall of 2011.
The reported samples were collected from trenches in the El Cerrito Zone at El Pato, where the strike length of the vein through the El Cerrito zone runs to almost 400 meters with much of this length trenched and sampled. Where exposed, the samples exhibit the expected style of high-grade mineralization. The sampled mineralized intervals of up to 5.1m in width contain irregularly exposed quartz veins up to 2.0 meters or more, with grades of up to 81.9g/t Au, as well as mineralized wallrock with grades of up to 23.3 g/t Au.
Directly within this zone, a total of 78 channel samples ranging between 5 and 9 kilograms were taken from both the vein and adjacent wallrock by Goldex geologist Edward Wells, a Qualified Person consistent with NI 43-101. Channel samples were cut perpendicularly across the vein structure as best as was possible. These samples were subsequently analyzed by the Inspectorate Laboratory in Reno, Nevada for gold.
Seven of the 78 channel samples were sent to Kappes, Cassiday and Associates* (KCA) in Reno, Nevada for additional metallurgical testing by flotation method. These results, when compiled, will be the subject of a future news release. The remaining 71 channel samples are being used as estimation for the general bulk values of the El Cerrito zone with the highlights referenced in the subsequent table. The table lists highlighted assay grades of the individual samples as well as a weighted average of 19 continuous vertical intervals where appropriate. Note that significant gold values were also obtained in many of the adjacent Wallrock zones.
Sample ID
Au g/t
Vein or Wallrock
Vertical Interval
Width (m)
Total Meters
Vertical
Interval
Weighted Average Grade over Vertical Interval
(g/t Au)
15102
12.20
V
1.0 -1.22
0.22
1.12
@
2.40
15103
1.53
WR
1.22 – 2.12
0.90
15105
41.85
V
0 – 1.30
1.30
2.30
@
23.65
15106
6.09
WR
1.30 – 2.30
1.00
15108
19.57
V
1.00 – 1.62
0.62
1.15
@
15.18
15109
8.99
WR
1.62 – 2.07
0.45
15110
15.95
V
2.07 – 2.15
0.08
15113
4.64
V
1.00 – 1.80
0.80
0.80
@
4.64
15121
5.47
WR
0-1.00
1.00
2.10
@
5.17
15122
4.90
V
1.00 -2.10
1.10
15130
6.73
V
1.00 – 1.40
0.40
4.10
@
15.25
15131
1.35
WR
1.40 -1.90
0.50
15132
5.66
V
1.90 – 2.10
0.20
15133
23.35
WR
2.10 – 2.90
0.80
31.54
V
2.90 – 4.10
1.20
15135
1.49
WR
4.10 – 5.10
1.00
15136
3.12
WR
0 -1.90
1.90
1.90
@
3.12
15138
4.52
WR
0 – 1.90
1.90
1.90
@
4.52
15142
81.93
V
1.55 – 2.25
0.70
1.60
@
49.27
15143
23.87
WR
2.25 -3.15
0.90
15144
62.92
V
0 – .70
0.70
0.70
@
62.92
15181
10.73
WR
0 – 1.60
1.60
1.60
@
10.73
15188
7.81
V
1.20 – 2.10
0.90
0.90
@
7.81
15191
6.33
V
1.50 -1.77
0.27
2.37
@
15.92
15192
0.34
WR
1.77 – 2.77
1.00
15193
32.45
V
2.77 – 3.87
1.10
15196
3.87
WR
0.90 – 2.10
1.20
3.20
@
19.34
15198
28.62
V
2.10 – 4.10
2.00
15201
3.52
WR
0.90 – 2.60
1.70
3.90
@
2.84
15202
0.25
WR
2.60 – 4.60
2.00
15203
23.07
V
4.6 – 4.80
0.20
15204
12.73
V
0 – 0.50
0.50
0.50
@
12.73
15215
3.34
WR
1.40 – 3.40
2.00
2.00
@
3.34
15219
3.13
V
1.20 – 3.00
1.80
1.80
@
3.13
15222
2.65
WR
0 – 0.50
0.50
0.50
@
2.65
From 78 samples taken, 35 graded less than 0.5 g/t Au, while 43 graded between 0.5 and 81.9 g/t Au. The weighted average grade of all samples taken was 6.48 g/t Au. True width has not been established.
Results were collected from gold by fire assay with an AA finish performed by Inspectorate Labs located in Reno, Nevada. Samples were shipped from Inspectorate Labs in Guatemala City after being transported there from the El Pato site by the Goldex geological team.
The sample results listed in the information above show significant levels of mineralization exist in the El Cerrito zone. These tests were conducted as part of a larger continuing program to provide the basis for the high grade surface zone mining plans that Goldex intends to put in place at El Pato.
“The trenching results confirm the presence of high grade mineralization in vein structures, as well as mineralized wallrock material that can be found adjacent and between the stacked or sheeted veins. This is significant from an economic point of view as any future production would be able to mine widths beyond the thickness of the veins present and significantly reduce waste rock material. We believe there to be a number of high grade zones evident at El Pato and our exploration work continues to be focused on defining the size and nature of the resource at hand”, stated Goldex President Chuck Ross.
The El Pato project is located in south-eastern Guatemala, 10 kilometers west of the town of Chiquimula, the closest commercial centre to the project and approximately 110 kilometers east of Guatemala City. The project is accessible via paved road.
CHUCK ROSS, President
GOLDEX RESOURCES CORPORATION
This news release has been reviewed and approved by Edward Wells (P.Geo), a Qualified Person consistent with NI 43-101.
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 both 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 Resources Gains Permit Approval for Drill Program at El Arco, Mexico.
VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE:GDX) (“Goldex” or the “Company”) today reported receipt of permit approval for a 15,000m, 50 hole drill program consisting of both Core and RC drilling.
Management issued a press release in July of 2011 announcing a phase one 4000m RC drill program at EL Arco as permits were initially thought to be in hand. After a company led review of the process the company discovered that an environmental permit would be required from the relevant governmental agency, SEMARNAT. The application was filed in September and after a site visit by SEMARNAT on the 22nd of October and the subsequent processing period authorities in Mexico granted the requisite permits which pave the way to a commencement of drill operations at EL Arco.
In the meantime company management has been in constant contact with prospective drill companies with the intention of signing a contract as soon as permit approval was granted. As such a drill contract and the subsequent commencement of activities at EL Arco are expected to be announced shortly.
“We can now look forward to the commencement of our planned drill program. We intend to push forward with our exploration of El Arco and uncover the value of this exciting target”, stated Goldex President Chuck Ross.
The EL Arco property is located in the Mexican State of Durango which is host to a number of illustrious neighbors and mines including Great Panther Silver, with its ‘Topia’ Property and Fresnillo PLC’s ‘La Cienega’ mine, previously one of the largest producing gold mines in Mexico. Goldex VP of exploration, Larry Kornze, formally the regional manager of Mexico and Central America for Barrick Gold has called EL Arco “The best undrilled property in the America’s” and was part of the geology team responsible for the planning of the upcoming drill program.
CHARLES ROSS, President
GOLDEX RESOURCES CORPORATION
About Goldex Resources Corp
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 both Guatemala and Mexico.
For more information please visit: www.goldex.ca
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.
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.