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Hot Features
Premium
Corex Gold Corp. (the "Company") is pleased to report continued exploration
success achieved through the on-going 20,000 meter 2011 drill program on its
Santana Property, Sonora State, Mexico. Results from the latest six drill holes
significantly expand the outline of the known mineralization at Nicho towards
Ubaldo and indicate that much of the mineralization in this zone begins at or
near surface and extends to vertical depths of up to 400 m. These new holes
which have encountered significant mineralization are as follows;
Drill Highlights Include:
-- S11-103D 23.9 m of 1.65 g/t Au
-- S11-104D 20.4 m of 1.11 g/t Au, incl. 7.2 m of 2.58 g/t Au
-- S11-108 65.8 m at 0.43 g/t Au and 9.88 g/t Ag and 0.33 % Cu incl. 10.2 m
of 0.53 g/t Au, 28.2 g/t Ag and 0.9 % Cu
Drill Results Overview:
Drilling at Ubaldo has expanded the outline of this significant new gold and
copper zone, to an area of one km2 and remains open in several directions,
specifically at depth and to the northeast where gold grades and widths appear
to be increasing. The holes confirm a higher grade component to a very robust
mineralized system. Holes S11-103D, S11-104 D are of particular importance as
they have confirmed the occurrence of high grade shoots in proximity of the
surface. It is important to note that the Nicho Zone is only one of numerous
drill targets on the property.
Hole S11-108 is located 25 m NE of previously reported hole S10-078R, which
intersected 54.9 m of 0.9 g/t Au, 21.8 g/t Ag and 0.51 % Cu. This most recent
Ubaldo hole is significant as it again intersected a thick chargeability high
target which was outlined and refined in the Company's most recent 3D IP
program. This method of target delineation has proven extremely successful in
building out the Santana Property to date.
Ubaldo Zone Drill Result Highlights:
----------------------------------------------------------------------------
Comp Comp
From To Length Au Ag Comp
Hole ID (m) (m) (m) ppm ppm Cu%
----------------------------------------------------------------------------
S11-108D 193 258.7 65.8 0.43 9.88 0.33
----------------------------------------------------------------------------
Including 240.1 250.3 10.2 0.53 28.21 0.91
----------------------------------------------------------------------------
Including 254.3 258.7 4.5 0.74 7.31 0.17
----------------------------------------------------------------------------
S11-108D 308.8 310.8 2 1.47 0.15 0
----------------------------------------------------------------------------
True widths are estimated to be about 90% of the drill intersections. Surface
exploration shows similar alteration and mineralization occurring in outcrops
over a 10 sq km area to depth of 400 m.
Corex views these results positively as exploration drilling continues to expand
the size of the Nicho and Ubaldo trend. Given the extent of the mineralization
and the initial positive geo-metallurgy, Santana has the signatures to develop
into a significant deposit.
Nicho Zone Drill Result Highlights:
----------------------------------------------------------------------------
Comp Comp
From To Length Au Ag Comp
Hole ID (m) (m) (m) ppm ppm Cu%
----------------------------------------------------------------------------
S11-103D 104 113 9 0.38 3.5 0.12
----------------------------------------------------------------------------
Including 104 105 1 1.71 20.9 0.69
----------------------------------------------------------------------------
Including 110 111.5 1.5 0.53 0.5 0.01
----------------------------------------------------------------------------
S11-103D 159.3 175.5 16.2 0.64 1.93 0.02
----------------------------------------------------------------------------
Including 159.3 161 1.8 3.93 11.9 0.13
----------------------------------------------------------------------------
S11-103D 183.5 207.4 23.9 1.65 0.98 0.01
----------------------------------------------------------------------------
S11-103D 216.4 233 16.6 0.66 0.51 0.01
----------------------------------------------------------------------------
Including 219.5 224 4.5 1.65 0.43 0
----------------------------------------------------------------------------
S11-103D 247.2 260.6 13.4 0.28 0.75 0.01
---------------------------------------------------------------------------
S11-103D 273.4 297.6 24.2 0.35 1.46 0.03
----------------------------------------------------------------------------
Including 273.4 277.8 4.4 0.77 1.15 0.13
----------------------------------------------------------------------------
Including 287 292.3 5.3 0.41 3.19 0
----------------------------------------------------------------------------
S11-104D 0 7.4 7.4 0.43 1.53 0.01
----------------------------------------------------------------------------
Including 0 4.4 4.4 0.56 1.99 0.01
----------------------------------------------------------------------------
S11-104D 37.1 47 9.9 0.62 1.27 0.07
----------------------------------------------------------------------------
Including 43.4 44.6 1.2 3.1 3.1 0.26
----------------------------------------------------------------------------
S11-104D 57.2 77.6 20.4 1.11 1.76 0.04
----------------------------------------------------------------------------
Including 57.2 64.4 7.2 2.58 2.98 0.09
----------------------------------------------------------------------------
S11-104D 89.4 93 3.6 0.79 8.76 0.52
----------------------------------------------------------------------------
S11-104D 106.7 109.8 3.1 0.51 2.39 0.09
----------------------------------------------------------------------------
S11-104D 175 177.4 2.4 0.9 1.4 0.06
----------------------------------------------------------------------------
S11-104D 193.4 210.5 17.1 0.45 0.6 0.04
----------------------------------------------------------------------------
Including 193.4 197.4 4 0.86 0.65 0.01
----------------------------------------------------------------------------
S11-104D 0 4.5 4.5 1.48 0.6 0.13
----------------------------------------------------------------------------
S11-105D 193.7 195.2 1.5 1.51 10.9 0.07
----------------------------------------------------------------------------
S11-105D 303.5 311.4 7.9 0.37 3.32 0.01
----------------------------------------------------------------------------
Including 303.5 305.2 1.7 0.85 3.2 0.22
----------------------------------------------------------------------------
S11-106D 132.4 133.9 1.5 2.35 8.8 0.02
----------------------------------------------------------------------------
S11-106D 161.8 178.7 16.9 0.56 0.75 0.04
----------------------------------------------------------------------------
Including 167.8 173.4 5.6 1.3 0.66 0.02
----------------------------------------------------------------------------
S11-106D 186.6 198.4 11.9 0.45 1.42 0.02
----------------------------------------------------------------------------
Including 186.6 192.3 5.7 0.71 0.61 0.08
----------------------------------------------------------------------------
S11-106D 228.6 253 24.5 0.35 1.98 0.22
----------------------------------------------------------------------------
Including 228.6 233 4.5 0.7 2.97 0.02
----------------------------------------------------------------------------
Including 245.5 253 7.6 0.63 3.73 0.07
----------------------------------------------------------------------------
S11-106D 294.5 296.5 2 2.48 2.5 0.02
----------------------------------------------------------------------------
S11-107D 128.3 129.9 1.6 1 3.3 0.03
----------------------------------------------------------------------------
S11-107D 191.9 194.6 2.7 0.92 0.96 0.05
----------------------------------------------------------------------------
S11-107D 234.3 242.8 8.5 0.35 3.12 0.01
----------------------------------------------------------------------------
Including 237.6 238.5 1 0.6 20.5 0.07
----------------------------------------------------------------------------
Including 241.7 242.8 1.1 1.78 2.8 0.26
----------------------------------------------------------------------------
S11-107D 318.3 332.6 14.4 0.23 0.36 0
----------------------------------------------------------------------------
Including 330.6 332.6 2 0.45 0.15 0.01
----------------------------------------------------------------------------
Reported intervals must be at least 1.0 meters wide; drill hole intercepts
are reported at a 0.21 g/t Au cutoff or a 0.4 g/t Au cutoff. Intervals
contain no more than six low-grade to barren samples between mineralized
samples containing over 0.2 g/t Au or intervals contain no more than two
low-grade to barren samples between mineralized samples containing over
0.4 g/t Au.
Corex utilizes a comprehensive QA/QC program consisting of blanks, drill
rig sample duplicates and reference samples to ensure best practices are
followed and the data collected is of the highest quality. All samples were
prepared to normal industry standards and assayed for gold by Fire assay
with AA finish by Acme Industrial Company (ISO 9001:2008 registered quality
system). Intercepts are close to true thickness.
Please click the following link for a map and section 101375 NW for the Nicho
Zone: http://www.corexgold.com/i/pdf/NichoOverview.pdf.
The table with the drill hole locations, dips, lengths and 0.2 g/t Au comp. will
also be updated on website shortly.
Bruno Barde, P. Geo., manages Corex's exploration and development programs and
is the Qualified Person as defined by National Instrument 43-101. He supervised
the preparation of the technical information in this release.
About Corex Gold Corp.
Corex Gold Corp. is a Canadian resource company focused on the acquisition,
exploration, and development of precious metal deposits in Mexico. Corex is
currently developing its flagship property, the Santana Project, which is a new
gold discovery in Sonora, Mexico. In addition, Goldcorp Inc. (TSX:G)(NYSE:GG)
has implemented an on-going exploration program on Corex's 100% owned Zuloaga
property in Zacatecas, Mexico.
ON BEHALF OF THE BOARD
Craig D. Schneider, President & CEO
Cautionary Statement
The foregoing information may contain forward-looking statements relating to the
future performance of Corex Gold Corp., in particular the potential for the
Santana property to host a large-tonnage gold-silver-copper porphyry system.
Forward-looking statements, specifically those concerned with future performance
are subject to certain risks and uncertainties, and actual results may differ
materially. These risks and uncertainties are detailed from time to time in
Corex Gold Corp.'s filings with the appropriate securities commissions.
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