Goldex Assays Multiple High Grade Gold/silver Samples Up to 410 g/t Au from Northern Zones at El Pato
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/04/12 -- 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
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Plan de Guineo/El Pital(i) Sector
less than
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
less than
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
greater than
39767 0.50 0.50 302.119 200.0 AC
100070 1.50 1.50 12.000 100.5 AC
greater than
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
greater than
100074 0.25 0.25 342.919 200.0 AC
100075 1.00 1.00 34.662 103.3 AC
greater than
123756 NA NA 60.342 200.0 AC
123757 0.50 0.50 4.834 12.1 AC
less than
123758 NA NA 0.857 0.1 AC
123760 0.50 0.50 0.960 0.4 AC
greater than
123762 0.30 0.30 185.550 200.0 AC
greater than
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
less than
123784F NA NA 0.069 0.1 AC
123785F NA NA 8.743 27.2 AC
less than
123786 0.25 0.25 0.411 0.1 AC
less than
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
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Sample # Thickness Length Au g/t Ag g/t Sampled by
----------------------------------------------------------------------------
El Poxte Sector
15088 0.50 1.0 35.278 16.3 SP
less than
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
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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.
(i)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).
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.
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.
Contacts:
CHF Investor Relations
Anne Robert
Account Manager
1-514-826-8121
anne@chfir.com
www.goldex.ca