MIX Micrex Development Corp

Micrex Development Corp. (TSX VENTURE:MIX) is pleased to update its
Deadwood-Sunburst project located in the Mogollon Mining District, Catron
County, New Mexico, about 35 km from the Arizona border, 1.4 km southwest of
Mogollon and 10 km northeast of Glenwood. The project is easily accessed from
the historic town of Mogollon via Highway 180. The property consists of two
patented mining claims (Deadwood and Sunburst) encompassing approximately 14 ha.


According to historic reports prepared before Deadwood Mine was shut down during
World War II, the Deadwood-Sunburst Property hosts a vein-type gold/silver
deposit with average historic grades of 0.127 oz/ton gold and 6.96 oz/ton
silver. Production numbers from the late 1930s report that 82,914 tons of ore
were milled, yielding 10,524 oz gold and 577,129 oz silver. Records on file with
the State of New Mexico show stope widths of over 6 metres in some places.
Historic data indicates that two other parallel vein systems were intersected
during mining, but were never developed.


From February 11th to 18th, 2012, Geotech Ltd carried out a helicopter-borne
Magnetic and Time Domain Electromagnetic survey over the project. The survey was
flown on traverses spaced 50 metres apart with an azimuth of N90 degrees E and
control-lines spaced 500 metres apart and oriented N0 degrees E. A total of 162
line-kilometers were flown.


In April 2012, independent geophysicist Camille St-Hilaire interpreted Geotech's
survey and all available geologic information. The interpretation outlined:




--  Five weakly magnetic contrasting areas. The most imposing magnetic
    contrast consists of a large North-South oriented magnetic strip
    crossing the entire line network. The Last Chance, Deadwood and Eberle
    Mines are exactly located on the eastern limits of this magnetic high.
    This observation could mean that this limit might be a good indicator
    horizon. 
--  Seven presumed faults. These faults, depending on their orientation, are
    distributed following three distinctive networks. The Eberle, Last
    Chance, Confidence, and Deadwood Mines seem to be directly related with
    them. 
--  One wide strip oriented North-South, located in the centre of the block,
    and showing a very high electrical resistivity. This strip of high
    electric resistivity overlaps surprisingly well with the above high
    magnetic susceptibility area. Such a litho-geophysics division might be
    a useful guide for future exploration work. Many of the neighboring ore
    deposits exploited in the past seem to be located at the edge of the
    area of high magnetic susceptibility, and also appear to be linked to
    the presumed fault-networks. 



In view of this interpretation, Micrex is expanding its planned drill program
into the newly identified areas.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


This press release was prepared by Camille St-Hilaire, M.Sc. P.Geo., qualified
person pursuant to National Instrument 43-101, and reviewed by Patrick Kluczny,
P.Geol., a qualified person as defined by National Instrument 43-101.


Micrex Development Corp. (TSX VENTURE:MIX) is a mineral exploration company
based in Alberta, Canada with mining properties in North America.


Visit www.mixcorp.com for further details.

MICREX DEVELOPMENT CORP.

Burmis Magnetite/Titanium Property - St. Charles de Bourget
Magnetite/Titanium/Rare Earth Property - Fort Steele Placer Property - Bighorn
Gold Mine - Mount Royal Gold Mine - Deadwood Gold Mine - Sunburst Gold Property


FORWARD LOOKING STATEMENTS

Certain statements in this news release are "forward-looking statements", which
reflect management's expectations regarding its property and business
operations. All statements other than statements of historical fact contained in
this news release are forward-looking statements. Such forward-looking
statements involve risks and uncertainties, as they reflect management's current
beliefs and are based on information currently available to management. Actual
results may differ materially from those anticipated in the statements made. The
forward-looking statements are expressly qualified in their entirety by this
cautionary statement. The forward-looking statements are made as of the date of
this news release and Micrex assumes no obligation to update or revise them to
reflect new events or circumstances except as expressly required by applicable
securities law. Further information regarding the uncertainties and risks can be
found in the disclosure documents filed by Micrex with the securities regulatory
authorities, available at www.sedar.com.

Micrex Development (TSXV:MIX)
Historical Stock Chart
From Nov 2024 to Dec 2024

Micrex Development (TSXV:MIX)
Historical Stock Chart
From Dec 2023 to Dec 2024