Goldex expecting to acquire El Pato exploitation licence in due course.
VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE: GDX) (“Goldex” or the “Company”) today is pleased to announce that following Tahoe Resources Inc (TSX: THO, NYSE: TAHO) being awarded an exploitation licence from Guatemala’s Ministry of Energy & Mines for their Escobal Project (see Tahoe news released April 3rd, 2013), this may be an indicator that those other operators in Guatemala, including Goldex, who are in good standing with the government may have their respective licences granted in due course.
In December of 2011 Goldex was granted the Environmental Impact Assessment (E.I.A.) portion of the exploitation 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 encourage the timely processing of its exploitation licence.
The 100% owned El Pato Concession covers four contiguous leases totalling 244 km2. 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 exploitation licence.
Proceeds from exploitation are expected to be used to further exploration on El Pato’s four principal zones as well as exploration on El Pato’s Northern zones that have shown multiple surface samples of up to 410 g/t of gold (see press release, April 4th, 2012).
“I hope that we can expect resolution on our exploitation licence application in the near future. The news that Tahoe Resources have completed their application successfully gives hope to Goldex and other operators in Guatemala who are eager to move forward with their projects. Goldex is fully committed and supportive of partnering 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 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.
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.