GoGold Resources Inc. press release
Goldex drills 3.8m of 9.73 g/t Gold at the El Pato Project, Guatemala
TSX - Toronto Stock Exchange · Silver · Gold · Copper · Zinc · Lead · Canada
VANCOUVER, March 7 /CNW/ - Goldex Resources Corporation (TSX-V: GDX) (http://www.goldex.ca) is pleased to announce results of three drill holes from two separate areas of the El Pato project, Guatemala.
Drill holes GDX-03 and GDX-04 were drilled in the El Sauce exploration sector that was discovered by Goldex in mid 2006. The El Sauce sector is along trend and 1.3Km to the west-southwest of the area of previous drilling by the United Nations and the DGM (Guatemala Government Ministry of Mines) during the period 1985 through 1991.
Drill hole GDX-03 was drilled to the west at an angle of -60 degrees and tested a zone of sparsely exposed and weathered granitic outcrops where several chip samples had been taken that contained significant gold values. Drill hole GDX-04 was collard 50 meters to the north of GDX-03 and also drilled to the west, at a -45 degrees. GDX-04 tested below an area where a hand cut trench on the surface had exposed weathered granitic rock with quartz stringers containing significant gold values over a 20-meter length.
El Sauce Sector
Drill Hole id from to interval (m) Au g/T GDX-03 14.00 17.00 3.00 0.532 GDX-03 21.50 23.00 1.50 6.377
GDX-04 31.80 35.60 3.80 9.793
Additional drilling will be required to determine strike and dip of these structures and the mineralized intervals reported are "core intercept" lengths. Additional drilling is planned from the GDX-03 and GDX-04 drill sites and there are other drill targets remaining to be tested in the El Sauce sector.
In the Cerrito West sector, GDX-05 confirmed the presence of mineralization within the block defined by U.N. holes DHP-24, DHP-25 and DHP-29. Results of the previous drilling and Goldex hole GDX-05 for the Cerrito West sector are shown in the table below. Drill holes GDX-06 and GDX-08 have been completed and are being logged and split for samples. Results for these holes are expected in three to four weeks.
Summary Table of Drill Hole Mineralization
Cerrito West Sector
Goldex Data: Drill Hole id from to interval (m) Au g/T GDX-05 82.80 87.30 4.50 5.213 (Includes 1.50m of 14.746 g/T Au from 84.30 to 85.80 meters)
GDX-05 88.80 92.99 4.19 2.983
United Nations Data: Drill Hole id from to interval (m) Au g/T DHP-24 83.40 85.05 1.65 9.29 DHP-25 91.18 92.84 1.66 11.93 DHP-29 34.45 35.00 0.55 3.19
Drill hole GDX-05 is located in Cerrito West, a zone of mineralization that consists of low-angle planar silicified shear structures hosted in a regional granitic batholith. Four target areas or "sectors" make up the zone and from west to east are named Agua Zarca, Cerrito West, Cerrito and Quebrada El Roque. A drill hole plane map showing the completed Goldex drill holes and all previous U.N and DGM drilling can be viewed on the Goldex website at (http://www.goldex.ca). The Goldex drill sites were selected based on results of the earlier drilling and are designed to text within blocks of mineralization as defined by the United Nations.
The drill is, at present, working in the El Pital sector where we are testing a similar quartz vein system in the granitic host rock. After completing the two holes in the El Sauce sector the drill was moved to El Pital while we negotiate with surface owners for rights of access to the additional drill targets.
Analytical work for the current exploration program is being done by BSI Inspectorate of Reno, Nevada an ISO certified lab, and all samples are delivered to the BSI sample preparation lab in Guatemala City by Goldex geologists.
The qualified person for Goldex is Richard W. Bybee P.Geo. who is responsible for the verification and quality assurance of the data set forth in this release.
Goldex Resources Corporation
Submitted on behalf of the board of directors
"Richard Bybee" P.Geo.,
Goldex's web site can be accessed at http://www.goldex.ca/.
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