From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Wed Jan 20 2010 - 09:16:42 EST
NGEx Announces Updates on Eritrean Drill Programs
NGEx Announces Updates on South American and Eritrean Drill Programs
VANCOUVER, BRITISH COLUMBIA-(Marketwire - Jan. 19, 2010) - NGEx Resources
Inc. (TSX:NGQ) ('NGEx' or the 'Company') is pleased to report on its drill
programs currently underway in Chile and Eritrea. The Company's 2010 drill
program at its Los Helados project located in Region III, Chile started on
January 14, 2010 at site I (to see photo please click on:
<http://media3.marketwire.com/docs/ngq119a.jpg>
http://media3.marketwire.com/docs/ngq119a.jpg). The planned program will
consist of approximately 3,800 meters in 6 or 7 holes. Drilling is planned
to follow up on encouraging results obtained in DDH 04 drilled in 2009 which
intersected 762 meters of 0.43% copper and 0.22 g/t gold, including 343
meters of 0.58% copper and 0.21 g/t gold. The drilling will target a 1
kilometre long chargeability anomaly that lies to the north of previous
drilling. Outcrops above the anomaly contain potassic alteration, stockwork
veining and local copper sulphides. The drill program is expected to take
approximately two months. Los Helados is part of the Company's joint venture
with the Japan Oil, Gas and Metals National Corporation (JOGMEC). JOGMEC
holds a 40% participating interest in Los Helados.
Drilling at the Company's nearby Josemaria project concluded in
mid-December, 2009. Seven diamond drill holes totalling 2,253 meters tested
possible extensions of the Josemaria resource. Results are expected toward
the end of January, 2010.
The Company also has a drill program underway in western Eritrea that is
targeting volcanogenic massive sulphide targets on its Mogoraib and
Kerkebeit licenses. Drilling will test additional targets at the Koken
Prospect where initial drilling in 2008 intersected encouraging results;
possible extensions to the Hambok deposit identified by a gradient IP survey
conducted in November, 2009 (to see map please click on:
<http://media3.marketwire.com/docs/ngq119b.jpg>
http://media3.marketwire.com/docs/ngq119b.jpg).
Drilling is also underway to test a new mineralized gossan known as the
Aradaib prospect that was identified by prospecting (to see photo please
click on: <http://media3.marketwire.com/docs/ngq119c.jpg>
http://media3.marketwire.com/docs/ngq119c.jpg). Initial work identified 350m
of discontinuous strike exposure of the gossan. Of twelve rock chip samples
taken, ten returned anomalous gold values (100 to 350ppb) with two assaying
4.1 and 8.9gpt, five had Cu values >1000ppm, and two had Pb >1000ppm. Zn is
moderately anomalous in all of them.
Aradaib Gossan
Dr. Wojtek Wodzicki, P. Geo. (BC), President and CEO of NGEx, a Qualified
Person as defined by National Instrument 43-101, has review the technical
contents of this release.
On behalf of the Board,
Dr. Wojtek Wodzicki, President and CEO
NGEx Resources Inc.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
----[This List to be used for Eritrea Related News Only]----
