Goldex Resources Announces Trench Sample Assay Results from the El Sauce Sector of Its El Pato Project in Guatemala
31 Mai 2011 - 3:54PM
Marketwired Canada
Goldex Resources Corporation (TSX VENTURE:GDX) ("Goldex" or the "Company")today
announced sample trenching assay results from the El Sauce sector of its
flagship El Pato property in Guatemala. Five trenches were sampled on the El
Pato Project for Goldex during early May, 2011 as part of ongoing geological
work at El Pato that compliments a 5000 meter drilling program currently
underway.
One meter channel samples were taken from these trenches and were analyzed by
Inspectorate America Corporation Laboratory, an ISO certified analytical
laboratory.
The five trenches were designed to test two gold mineralized zones located along
an east-west trend in the western edge of the Company's El Pato Project,
Guatemala. The intent was to further pinpoint the areas of high mineralization
near the surface and to ascertain the direction of strike. These trenches were
grouped into two zones separated by approximately 350 metres. Most of the
trenches were hand dug to depths ranging from 1.5 m to 2.5 m in principally a
highly weathered granodiorite host rock. Each trench was located by averaging
readings using a handheld gps. Brunton and tape measurements were taken to
create surface and cross section profiles.
A total of 58 one metre channel samples were taken along the bottom of the
trenches. Specifics of each trench are:
EAST ZONE WEST ZONE
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Trench ID Trench Length (m) Trench ID Trench Length (m)
GDXA-01 16 GDXA-09 17
GDXA-01A 2 GDXA-12 12
GDXA-02 11
----------------------------------------------------------------------
Total 58 meters
The trenches GSXA-09 and GDXA-12 located in the west zone seem to target areas
of high mineralization. Highlights of the west zone sampling are as follows:
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Trench ID Interval (meters) Gold (g/t) Notes
----------------------------------------------------------------------------
----------------------------------------------------------------------------
GDXA-09 8 - 9 9.636 Siliceous + clay altered zone
with limonite.
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11 - 12 1.609 Strong sericite with granular
quartz.
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15 - 16 96.246 Contact with quartz vein and
granodiorite;
Quartz vein with variable
arsenopyrite. Strong sericite.
----------------------------------------------------------------
16 - 17 47.627 White massive blocky quartz with
golden brown stain.
----------------------------------------------------------------------------
GDXA-12 1 - 2 59.544 Weathered granodiorite with 15 cm
arsenopyrite + quartz + scorodite
zone and strong limonite.
----------------------------------------------------------------
2 - 3 21.667 Sugary quartz vein with
arsenopyrite in granodiorite.
5 - 6 22.273 Granular quartz vein with
sericite and clay. Coarse grained
arsenopyrite clots and one
arsenopyrite 10 cm vein.
----------------------------------------------------------------
10 - 11 1.69 Strong sericite and clay altered
granodiorite with pervasive
limonite with one 10cm quartz
vein.
----------------------------------------------------------------
11 - 12 1.491 Intense sericite altered
granodiorite with one 5cm quartz
vein plus limonite seams.
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Of the additional samples 9 contained less than 0.1g/t while the remainder
contained between 0.1 to 5.2 g/t Au.
Trench GDXA-09 needs to be extended beyond the 16 to 17 metre sample to fully
define the mineralized zone. Recommendations are to test additional areas by
trenching and to dig future trenches deeper in order to better ascertain the
strike and dip of the zones. When additional trenching and geological work has
identified drill sites then recommendation is to drill those areas to ascertain
true levels of mineralization at the El Sauce sector and to confirm whether the
resource may be amenable to open pit mining.
"These results from the El Sauce trenches are very encouraging for Goldex.
Present geological work is being undertaken to pinpoint the areas of high
mineralization at the El Sauce zone which is located approximately 1km to the
west of El Pato's principal sectors. Our intention is to prove the continuation
of mineralization along strike to El Sauce as this may demonstrate a potentially
significant increase to the total gold resource at El Pato", stated Goldex
president Chuck Ross. "We continue to be very excited by the ongoing geological
work and drilling presently underway at El Pato".
The El Pato project is located in south-eastern Guatemala, 5 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.
Qualified Person:
Mr. Robert S. Friberg, is a qualified person within the meaning of National
Instrument 43-101, and has reviewed the contents of this news release. Mr.
Friberg is an independent consultant to the Company. Each sample bag was sealed
immediately with a plastic cable to ensure sample security. All samples were
stored in the QP's hotel room and then later sent to Guatemala City to
Inspectorate in a rented car with driver. The second sample set was personally
handed over to the manager of Inspectorate Labs in Guatemala City. One blank or
standard sample was placed roughly after each nine samples to test the QA/QC of
the samples. All samples were analyzed using 30 gram fire assays with
gravimetric finish for gold on results over 10 g/t.
CHUCK ROSS, President
GOLDEX RESOURCES CORPORATION
For more information please visit: www.goldex.ca
For regular updates please email stephanie@chfir.com using Goldex News in the
title box.
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.
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