AuEx Ventures, Inc.: Bunce Assay Results
Tuesday, August 28th, 2007
AuEx Ventures, Inc. is pleased to announce assay results from reverse circulation drilling completed recently on the Company’s Bunce gold exploration project located in Pershing County, Nevada. The drill program was conducted by the Company as operator and funded by North Range Resources Ltd. under an exploration earn-in joint venture agreement.
The Company completed an initial phase of three reverse circulation holes totaling 3,240 feet of drilling on the western portion of the property west of a hole completed in 2006 by the Company. These holes were designed to test for deeper mineralization adjacent to and beneath a known, small zone of shallow oxide mineralization identified by earlier explorers and to confirm geophysical data concerning the thickness of Tertiary volcanic rocks. These holes confirmed the shallow zone of known mineralization and then encountered zones of anomalous gold mineralization (greater than 100 parts per billion) and elevated pathfinder chemistry in the deeper target. One of the holes did penetrate the Tertiary volcanic section bottoming in Triassic meta-sediments confirming the geophysical model. This information will be of importance in helping to define large basement faults which could be feeders to mineralization. Gold assay results greater than 0.01 ounces/ton are as follows;
Drill Hole, Total Depth(in feet), From(in feet), To(in feet), Thickness(in feet), Grade(in ounces/ton)
BU-002 1,000 230 290 60 0.034
365 370 5 0.019
385 390 5 0.015
680 700 20 0.011
725 735 10 0.010
BU-003 960 0 55 55 0.033
BU-004 1,280 10 25 15 0.019
These results suggest that in this target area, the mineral system is weakening to the west and that further drilling is warranted to the east. The balance of the planned 2007 drilling program, consisting of an additional 20 holes, is now being permitted to further test this target area and other target areas on the property. This drilling will be completed in the fall of 2007.