From: Biniam Haile \(SWE\) (eritrea.lave@comhem.se)
Date: Thu Sep 24 2009 - 09:52:16 EDT
NGEx Granted Prospecting Licenses on New Massive Sulfide Discovery in
Eritrea
By: Marketwire .
Sep. 24, 2009 09:01 AM
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/24/09 -- NGEx
Resources Inc. ("NGEx" or the "Company") (TSX: NGQ) is pleased to
announce that it has been granted two contiguous Prospecting Licenses,
Shukula (49 sq. km) and Lelit (64 sq. km) over a new discovery of
volcanic-hosted massive sulfide (VHMS) occurrences in northern Eritrea.
The massive sulfide prospects were discovered during regional
exploration and are on a new and virtually unexplored VHMS trend in
northern Eritrea. Please see attached map.
The Shukula prospect consists of outcropping gossan 100m in length on
which the best grab and chip-channel samples returned up to 2.8, 5.4,
and 5.6 ppm gold, 0.5% Cu,1841 ppm Zn, and 1164 Pb. The altered rock
package hosting the gossan extends for an additional 3 kms and contains
discontinuous narrower lenses of gossan as well as oxidized veinlet
stockwork zones.
The Lelit license covers 4 kms of prospective strike on the southwestern
extension of the Shukula gossan horizon. Rock chip samples from gossan
and altered metavolcanic rocks on the license area returned results as
high as 2.2 and 3.7 ppm gold, 2361 ppm copper as welll as being strongly
anomalous in zinc and lead.
The Company is excited about the discovery of this new VHMS district and
the associated prospective unexplored terrain. Field work will commence
after the rainy season ends in October.
Qualified Person/Quality Analysis/Quality Control
Rock chip and grab samples from Shukula and Lelit were submitted to
African Horn Laboratories in Asmara for crushing and coarse grinding. A
split was airfreighted to Genalysis Laboratories in Perth Western
Australia where the final grinding and analysis were performed. The
remainder of the sample was retained in NGEx's store in Asmara. High and
low grade basemetal and gold standards were randomly inserted into the
sample stream before shipment of the samples to Genalysis. Duplicates
samples and standards accounted for approximately 5% of all samples
submitted for analysis.
Dr. Demetrius Pohl, a Qualified Person as defined by National Instrument
43-101 and Vice President of Exploration for the Company, has reviewed
and verified the technical mining information contained in this news
release.
On behalf of the Board,
Wojtek Wodzicki, President and CEO
To view the map associated with this press release, please click on the
following link: http://media3.marketwire.com/docs/ngex93.pdf
Contacts:
NGEx Resources
Sophia Shane
Corporate Development
(604) 689-7842
www.ngexresources.com
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