AuEx Ventures, Inc. Updates Nevada Exploration Projects.VANCOUVER, British Columbia -- AuEx Ventures, Inc. (AuEx) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:XAU XAU Gold Exchange Rate (ISO) .U) is pleased to report that exploration activity is moving forward aggressively on several of the company's projects. Highlights of the 2005 summer field season include drilling on three projects; Thunder Mountain, Pequop and Leonid. A minimum of $ 400,000 USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. will be spent in 2005 by AuEx's partners and, in addition, AuEx will spend a further $ 500,000 USD on its wholly owned properties with the objective of advancing them to the joint venture stage. Thunder Mountain Drill access and pad construction is currently underway at the company's Thunder Mountain joint venture project located in Nye County northeast of Tonopah, near the Midway gold deposit. The property contains a low sulfidation epithermal gold/silver style mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . AuEx has completed geological mapping, surface sampling and geophysics on behalf of the joint venture. Reverse circulation drilling should commence within a week. The project is being funded by Alaska Gold Company (AGC AGC Automatic Gain Control AGC Automotive Glass Cartridge (fuse) AGC Associated General Contractors AGC Associated General Contractors of America AGC Atypical Glandular Cells AGC Attorney-General's Chambers ) who can earn up to an 80% interest in the project by funding the first $2 million USD in exploration expenditures. Pequop Drill site and pad construction is also underway at the company's 100% owned Pequop project located in Elko County east of Wells. The large Pequop property contains several areas of Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] style gold mineralization, some of which were partly explored by Pittston Nevada Gold in the period extending from 1995 through to 2001. Drilling by the previous operator returned several potentially ore grade intercepts (as reported in the company's 43-101 report) that warrant further exploration. Reverse circulation drilling is planned at Long Canyon, Acrobat and Juggler juggler Entertainer who keeps several plates, knives, balls, or other objects in the air at once by tossing and catching them. The art of juggling has been practiced since antiquity. targets and is expected to commence by mid-August. Leonid Nevada Superior Inc. (NSI See Network Solutions. NSI - Network Solutions, Inc. ), a private Nevada company, continues to conduct mapping and sampling at the Leonid joint venture property located south of Carlin in Elko County on the southern part of the Carlin trend. NSI can earn an undivided interest in the Leonid property by expending the first $ 1.5 million USD in exploration expenditures. NSI has indicated that they plan a reverse circulation drilling program at Leonid in late August or early September. Leonid contains a Carlin style exploration target. Fireball Ridge Newcrest Resources Inc. recently completed a reverse circulation drilling program on claims leased from AuEx at the Fireball Ridge property located in Churchill County. Assay results will be reported upon receipt from Newcrest. AuEx is a newly listed, Nevada focused, precious metals exploration company that began trading on Tier 2 of the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. on June 30, 2005. AuEx controls over 40,000 acres of unpatented claims and fee land, and has a current portfolio of 11 exploration projects, two of which are under joint venture agreements. The company intends to continue to leverage the extensive in-house Nevada exploration experience and high-end technical skills of its founders to execute its joint venture business model. AuEx will continue to grow its property portfolio and offer projects it has advanced to select partners under joint venture arrangements. AuEx Ventures, Inc. Ronald L. Parratt, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. AuEx Ventures, Inc. (TSX VENTURE:XAU.U) |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion