Post by
nopoo on Dec 01, 2011 3:56pm
LARGE COPPER PORPHYRY AND GOLD TARGETS
TIEX INC. SOIL SAMPLES INDICATE PRESENCE OF LARGE COPPER PORPHYRY AND GOLD TARGETS ON QUESNEL TROUGH PROPERTIES
Tiex Inc. has released results from the soil sampling and induced-polarization components of the exploration work on its 79,379-hectare Gold Creek, Cedar-Louis and Horsefly properties in the Quesnel Trough area, central British Columbia.
Tiex is very encouraged with the results from the 2011 exploration work and will conduct follow-up work on the target areas in 2012. Ken Faulkner, President and CEO commented, "Results from our soil sampling program continues to reinforce our belief that our property portfolio has the potential to host multiple discoveries. The 2011 program was designed to confirm this potential and advance our efforts on just two of our targets (Gold Creek and Viewland). Drilling is underway on both targets and assay results are pending. In addition, the 2011 program has successfully identified other high priority anomalies within our property package and we are quickly moving to define exploration programs for these new targets."
The company completed approximately 45 line-km of IP in two survey areas in the Viewland and Elbow Lake areas on the Horsefly Property and collected 1,827 soil samples in the Gold Creek, Cedar-Louis, Jack (Megamag), McKaygold, Corey (Horsefly Mtn), Elbow Lake and Bosk Lake target areas.
Table 1. Summary of exploration work completed on Tiex Inc.'s Cariboo Region properties.
Target Area Property Target Work Conducted Summary of Results
South QR Gold Creek SZ hosted Au 208 soils 900 x 300 m Au-As anomaly
Cedar-Louis Cedar-Louis Sed-hosted Au 534 soils Two Au-As soil anomalies 1600 x 700 m and 2600 x 1000 m
McKaygold Horsefly Sed-hosted Au 254 soils Scattered Au-As anomalies along a conductive 2200 x 300 m trend
Corey Horsefly Porphyry Cu-Au 168 soils Two Cu+/-Au anomalies; 1300 x 500 m and 1200 x 300 m
Viewland Horsefly Porphyry Cu-Au ~35 line-km IP Strong to moderate chargeability assoc. with high mag and Cu in soils
Elbow Lake Horsefly Pourphyry Cu-Au~10 line-km IP, 378 soilsMod chargeability and high mag assoc. with two Cu in soil anomalies; 2300 x 300m and 800 x 150 m
Jack Horsefly Porphyry Cu-Au 123 soils 3 Mo-Cu+/-Au soil anomalies on two recce soil lines
Bosk Lake Horsefly Porphyry Cu-Au 199 soils Several isolated gold in soil anomalies
*Soil anomalies are defined as areas returning element values > 90th percentile.Gold Targets The area south of the Quesnel River is a tectonic zone which is along strike from a Au-Cu in soil anomaly on Bearing Resources', October Dome Project. Results from the 2011 soil sampling outlined an area of 900 m x 300 m of anomalously high gold ("Au") and arsenic ("As") in soil (up to 46 ppb Au, 56 ppm As) as well as several scattered Au in soil samples up to 250 ppb Au in soil. As is associated with gold mineralization in this area.
The Cedar-Louis area is due ~ 3 km south of the Spanish Mountain deposit and like the Spanish Mountain deposit this area is a bulk-tonnage Sedimentary-Hosted Gold target. Two areas 1600 m x 700 m and 2600 m x 1000 m of anomalously high As in soil have been delineated by the 2011 soil survey. The As anomalies are coincident with numerous anomalous Au in soil samples up to 50 ppb Au.
The McKaygold area is north and along strike of Eureka Resources' Frasergold deposit which is hosted by and adjacent to the Eureka Thrust Fault. Soil results from 2011 returned several coincident Au-As anomalies scattered along the entire length of the survey area within a conductive zone interpreted to be the Eureka Thrust Fault.
Copper-Gold Targets
The Corey Project area is underlain by a monzodiorite to monzonite intrusion that is rimmed to the north and southwest by two separate copper ("Cu") in soil anomalies. The northern anomaly is 1200 m x 300 m and is open to the north and the southwest anomaly is a series of discontinuous Cu in soil anomalies covering an area of 1300 m x 500 m and has several coincident Au in soil anomalies.
In the Viewland porphyry Cu-Au target area, soil samples collected in the mid-1980's delineated two large copper in soil anomalies (700 m x 2200 m and 900 m x 2700 m) coincident and surrounding a magnetic high. In 2011, ~35 line-km of IP was conducted which demonstrated that the southern and larger of the two soil anomalies coincides with a chargeability high. This coincident chargeability high and Cu in soil anomaly was the target tested by Tiex drilling in November, 2011 (results expected in early December).
The Elbow Lake area is underlain by a magnetic high and dioritic stock where ~10 km of IP survey and 378 soil samples were collected in 2011. This work defined two Cu in soil anomalies along the east and west boundary (2300 m x 300 m and 800 m x 150 m, respectively) of the magnetic high. IP data also showed that the eastern Cu in soil anomaly coincides with a zone of moderate chargeability and the western soil anomaly is adjacent to a chargeability high.
The Jack area is underlain by a large magnetic high ~ 40 square km in size and in 2011 two reconnaissance soil lines returned three separate areas of coincident copper and molybdenum in soil anomalies.
Stephen Wetherup, BSc. P.Geo the qualified person as defined by National Instrument 43-101 is responsible for the technical information provided in this release.