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Re: News Release - Thursday, September 25, 2008
Corex Commences First Phase Drill Program on Santana Property
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VANCOUVER, BC - Corex Gold Corp. (the "Company") is pleased to announce
that a First Phase reverse circulation drill program has commenced on
the Santana Property located in Sonora State, Mexico. The Property has
numerous historic small-scale gold mining operations, past production
is unknown. The company has awarded the drill contract to Layne
Drilling of Hermosillo, Mexico.
The Santana property covers approximately 7,000 hectares and is located
approximately 200 kilometers east-southeast of Hermosillo within the
mineral rich, Sierra Madre Occidental gold-silver, copper porphyry
belt. Santana offers gold-silver and copper porphyry targets in a
district scale setting, offering the potential to host substantial
precious and base metal resources.
The drill program is targeting excellent results received from the
exploration work completed during 2008, which included extensive
rock-chip and channel sampling as well as detailed mapping throughout
the property. To date, 627 rock chip surface samples have been taken at
Santana over an approx. 6 km x 6 km area with the majority concentrated
on an approx. 1.5 km x 2 km zone. Assay results have been received for
603 samples. Results for the remaining 24 are pending. The highest
gold & silver values obtained to date are 11.65 g/t Au & 457.6 g/t Ag.
Twelve samples have Au values greater than 2.00 g/t with an average
grade of 5.27 g/t. Of the 603 samples with results, 204, or 33.8%, have
Au values greater than 0.10 g/t. The average grade for the samples is
0.70 g/t Au. Seventy-one samples have Au values greater than 0.50 g/t
with an average grade of 1.61 g/t and 29 samples have Au values greater
than 1.00 g/t with an average grade of 2.93 g/t.
Detailed mapping & sampling have concentrated on an approximately 1200
m x 1800 m zone with sporadic outcrops hosting extensive iron oxides
and phyllic alteration and, locally, quartz vein stockwork breccias
characteristic of alteration associated with a copper-gold porphyry
system.
Corex is rapidly advancing geologic mapping and sampling on the Santana
property and has defined numerous gold and silver bearing structures
and alteration zones that warrant additional geologic work. Gold-silver
mineralization is hosted in an approximately 2 square km area of
strong, low sulfidation alteration characterized by pervasive and
structurally controlled sericite-illite alteration, with associated
disseminated iron oxides, quartz vein stockwork and clay alteration.
Numerous prospect pits and small mines are evident within this zone.
The alteration is hosted in intermediate flows, tuffs, and comagmatic
dikes and plugs. Gold and silver mineralization is controlled by both
lithologic and structural features. The area of interest has never had
any drilling to date.
Alan D. Hitchborn, Vice President-Exploration, manages Corex's
exploration and development programs. Matthew D. Gray, Ph.D., C.P.G., a
Qualified Person as defined by National Instrument 43-101, supervised
the preparation of the technical information in this release.
ON BEHALF OF THE BOARD
"Craig D. Schneider"
President and CEO
For additional information on Corex Gold Corp please contact:
Tel: 604.683.2505
Fax: 604.683-2506
E-mail: info@corexgold.com
The TSX Venture Exchange has not reviewed and does not accept the
responsibility for the adequacy or accuracy of this news release. The
foregoing information may contain forward-looking statements relating
to the future performance of Corex Gold Corp. 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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Copyright (c) 2008 COREX GOLD CORPORATION (CGE) All rights reserved.
For more information visit our website at http://www.corexgold.com/ or
send mailto:info@corexgold.com
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