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Goldex Resources Corporation
 

Goldex High Grade Exploration in Guatemala

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.