Vancouver,
BC - Nov 25, 2010 - Corex Gold Corp. (the "Company"), is pleased to report continued
exploration success achieved through the 2010 drill program on its Santana
Property, Sonora State, Mexico. Up dip and down dip holes were collared in
the Nicho Zone. These new holes have encountered
significant mineralization. S10-083D
which returned 87
m of 1.04 g/t Au also
included a higher grade intercept of
28.6 m of 2.16 g/t Au.
Some Drill Highlights Include:
- S10-083D-
87 m of 1.04 g/t Au (incl.
28.6
m of 2.16 g/t Au)
- S10-086D- 13.3 m of 1.46 g/t Au
- S10-086D- 47.5 m of 0.8 g/t Au
Nicho Target
The success from the most recent drill program occurred on a 1000 m x 700 m
gold soil anomaly coincident with ground magnetic and IP survey anomalies.
The mineralization is controlled within a gold bearing structural corridor
that is open in all directions and at depth. Hole
S10-83D and S10-86D were drilled on section 101375NW. Hole S10-83D was a
down dip hole from hole S10-067R and S10-86D was an up dip hole from hole
S10-67R. These holes indicate a widening mineralized zone at depth
surrounding the higher grade core, as shown in hole
S10-083D, which included 28.6
m of 2.16 g/t Au.
These two
holes confirm the high-grade portion of the mineralized zone which is
structurally controlled and at least 200 m long, 50 m wide, with a
thickness of at least 200 m. Surrounding this high-grade core is a
mineralized zone, which is defined by the distribution of the tectonic
breccias.
Systematic
drilling is continuing at Nicho. The Nicho Zone is open in all directions and these recent
holes significantly expand the exploration potential of the project area.
Drilling at Nicho is currently on-going to
rapidly expand on its resource potential.
Table of Results:
Nicho Zone
|
From
|
To
|
Interval
|
Grade (gpt)
|
%
|
Hole #
|
(m)
|
(m)
|
(m)
|
Au
|
Ag
|
Cu
|
S10-083D
|
87.7
|
116.5
|
28.7
|
0.54
|
2.62
|
NSV
|
Incl.
|
87.7
|
101.5
|
13.8
|
0.78
|
1.52
|
NSV
|
Incl.
|
105.3
|
108.3
|
3.0
|
1.07
|
15.79
|
NSV
|
S10-083D
|
138.9
|
242.4
|
103.5
|
0..97
|
1.52
|
NSV
|
Incl.
|
138.9
|
140.3
|
1.4
|
5.29
|
2.63
|
NSV
|
S10-083D
|
144.0
|
149.2
|
5.2
|
1.03
|
0.70
|
NSV
|
S10-083D
|
163.7
|
166.4
|
2.7
|
1.10
|
5.75
|
0.53
|
S10-083D
|
170.2
|
175.6
|
5.4
|
0.89
|
2.53
|
NSV
|
S10-083D
|
197.3
|
225.9
|
28.6
|
2.16
|
1.76
|
NSV
|
S10-083D
|
230.5
|
235.8
|
5.3
|
1.59
|
1.95
|
NSV
|
S10-083D
|
287.2
|
287.8
|
0.7
|
0.91
|
1.40
|
NSV
|
S10-083D
|
313.0
|
314.5
|
1.5
|
0.94
|
12.60
|
NSV
|
S10-086D
|
51.2
|
68.0
|
16.8
|
1..16
|
7.34
|
0.46
|
Incl.
|
51.2
|
53.5
|
2.3
|
0.80
|
8.12
|
0.47
|
Incl.
|
58.2
|
68.0
|
9.8
|
1.71
|
9.71
|
0.63
|
S10-086D
|
91.2
|
94.6
|
3.4
|
1.11
|
3.99
|
0.37
|
S10-086D
|
106.5
|
154.0
|
47.5
|
0..80
|
1.52
|
NSV
|
Incl.
|
106.5
|
109.4
|
2.9
|
1.36
|
2.70
|
0.21
|
Incl.
|
115.5
|
117.3
|
1.8
|
2.68
|
1.00
|
0.15
|
Incl.
|
121.9
|
131.3
|
9.3
|
0.57
|
1.15
|
NSV
|
Incl.
|
138.6
|
151.9
|
13.3
|
1..46
|
3.24
|
0.17
|
S10-086D
|
185.6
|
209.4
|
23.8
|
0..85
|
3.10
|
NSV
|
Incl.
|
185.6
|
190.9
|
5.4
|
1.56
|
2.71
|
0.17
|
S10-086D
|
200.7
|
207.5
|
6.8
|
1.23
|
2.50
|
NSV
|
*Reported
intervals must be at least 1.5 meters wide; drill hole
intercepts are reported at a 0.1, 0.2 g/t Au cutoff or a 0.4 g/t Au cutoff
including up to 6.2 m and 3.1 m of internal waste. Corex
utilizes a comprehensive QA/QC program consisting of blanks, drill rig
sample duplicates and reference samples to insure 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.
* *using cut-off
grade of 0.2 gmt gold and 4.5 meter internal low
grade limit, hole S10-083D composites include from 138.9 to 225.9, 87
meters at 1.043 g/t Au.
Please click the following link for a map
detailing the drill hole location and a typical
section. http://www.corexgold.com/i/pdf/Nichotwo.pdf
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.
ON BEHALF
OF THE BOARD
"Craig D. Schneider"
President & CEO
Cautionary
Statement
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. 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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