Robex Resources Inc.: Summary of Work Done by Resolute on the N'Golopene Permit
QUEBEC CITY, QUEBEC -- (Marketwire) -- 07/11/12 -- Robex Resources Inc. (TSX VENTURE: RBX)(FRANKFURT: RB4) is pleased to confirm that Resolute Mining Ltd. conducted soil and rock geochemistry as well as exploration work on the N'golopene permit over the last two quarters of 2011 and the first quarter of 2012.
Geochemistry:
In total 680 samples were taken. On the Bananso zone, a 500m X 500m grid, narrowed at 250mX 500m on the formation of Syama, was used. The Tjibera / Karbassa zone is sampled at 250m X 50m.
Two anomalous zones were detected following the analysis of the samples.
-- In the Bananso zone, gold assays show an anomaly located on the wall of
the Syama formation, whereas an arsenic anomaly is confined to the Syama
formation.
-- In the Tjibena / Karbassa zone the gold anomaly is discreet compared to
the arsenic anomaly, but both are situated on the wall of the West
Branch of the Syama formation, in contact between mafic rocks and
sediments.
Air core drilling:
On the Bananso zone, a total of 103 holes for 4332m were drilled along five east-west cross over's, intersecting the eastern branch of the Syama formation. The analytical results of the samples are only partially received.
The gold grades from the 4m composite samples are scattered and relatively small but its regional design was to recognize the geology of the area through log analysis of the geological and geochemical multi-element that will be performed on samples down hole.
Three zones are anomalous in gold:
-- on the cross 1205800N a group of drillings around NPAC020, at the roof
of the Syama formation.
-- on the cross-1205800N, the NPAC093 drilling, on the wall of the Syama
formation.
-- on the cross-1209600 N, the NPAC049 drilling, on the wall of the Syama
formation.
It is notable that these anomalies coincide with the resistivity survey used to distinguish the structures limiting the Syama formation.
Best intersections:
----------------------------------------------------------------------------
Poll Number from to At (g/t)
----------------------------------------------------------------------------
NPAC001 0 4 0.49
----------------------------------------------------------------------------
NPAC011 16 20 0.14
----------------------------------------------------------------------------
NPAC018 12 16 0.13
----------------------------------------------------------------------------
NPAC019 28 32 0.31
----------------------------------------------------------------------------
NPAC020 36 40 0.18
----------------------------------------------------------------------------
NPAC020 40 44 0.47
----------------------------------------------------------------------------
NPAC020 44 45 0.41
----------------------------------------------------------------------------
NPAC020 45 46 0.13
----------------------------------------------------------------------------
NPAC034 19 20 0.21
----------------------------------------------------------------------------
NPAC048 16 20 0.12
----------------------------------------------------------------------------
NPAC049 8 12 0.12
----------------------------------------------------------------------------
NPAC049 20 24 0.3
----------------------------------------------------------------------------
NPAC049 40 44 0.15
----------------------------------------------------------------------------
NPAC050 44 45 0.11
----------------------------------------------------------------------------
NPAC087 8 12 0.12
----------------------------------------------------------------------------
NPAC093 16 20 0.29
----------------------------------------------------------------------------
NPAC093 20 24 0.2
----------------------------------------------------------------------------
On the Ziasso zone, a total of 50 air core holes cumulating 2,316 m were carried out on the west branch of the Syama formation, the analysis results are pending.
All samples were sent to ALS laboratory in Perth, Australia, for analysis for gold (0, 0002ppm) by Aqua Regia 25g (Au-ST43) and multi-element (ME-MS41).
"We are very satisfied with the partial results obtained, which are in conformity with the values obtained previously in this sector. We are also very pleased with the partnership concluded with Resolute Mining, who is also exploiting the Syama mine, just 10km south of N'golopene," said Andre Gagne, president and CEO.
Letter of Intent for Financing
Moreover, Robex announces that, the letter of intent, dated June 7, 2012, was terminated by Robex as some essential requirements for the financial security of Robex and its shareholders have not been met. "It turns out that this group is not a suitable partner for Robex. This avenue of funding was a possibility among several and discussions are ongoing with other potential investors, and we are still confident in carrying through our financing research," said Andre Gagne
The resources information of this release as well as the results set out have been verified by Jacques Marchand, P.Eng. P.Geo, and an independent Qualified Person.
This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Robex Inc.'s ("Robex") control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavorable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Robex. The forward-looking information is based on the estimates and opinions of Robex's management at the time of the publication of the information and Robex does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.
The TSX Venture Exchange or its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts no liability for the authenticity or accuracy of this release.
Contacts:
Investor relations / Information:
Andre Gagne
President and CEO
418-527-5023
a.gagne@robexgold.com
Skype: andregagne11