Symbol "AKV": TSX Venture Exchange
VANCOUVER,
Nov. 8 /PRNewswire/ - Acrex
Ventures Ltd. ("Acrex" or "Company") is pleased to announce the
results of its 2010 diamond-drilling program on its West Block
Spanish Mountain claims (to view map visit:
http://www.acrexventures.com/i/maps/Acrex-Spanish-Mountain-2010-Drill-Hole-Map-blue.jpg),
located near Likely, British
Columbia (the "Property"). A total of 862 metres of drilling
was completed in 7 drill holes. The results obtained from the
drill program have confirmed the presence of a significant gold
bearing structure on the Property. Confirmation of gold on the
Property is very meaningful following Acrex having identified a
1,200 metre long by 400 metre wide zone of greater than 100 ppb
gold-in-soils, including isolated values up to 1,000 ppb. Acrex's
airborne geophysical survey had also previously indicated an
electromagnetic (EM) anomaly that coincided with the strong
gold-in-soil results, extending from Spanish Mountain Gold's
("SPA") main zone northwestward across the Acrex Property onto Tiex
Inc. nearby gold discovery.
Drilling was initiated within the southern
extent of the target zone. Hole SpM1001 intersected altered
sedimentary and volcanic rocks with carbonate and quartz veining.
The hole carried 0.751 g/t gold across 1.5 metres within a 6.10
metre wide zone of gold enrichment (see table). Holes SpM1002
and SpM1003 did not penetrate water saturated overburden and no
bedrock samples were obtained as a specialized type of diamond
drill was required but was not available at the time. Drill
holes SpM1004 through SpM1007 tested the target zone from south to
north for a distance of over 1.5 kilometres with three of these
holes intersecting zones of gold enrichment. The following
table summarizes the gold-bearing intersections from the 2010 drill
program:
| Drill Hole |
From (m) |
To(m) |
Width(m) |
Au g/t |
| SpM1001 |
82.46 |
85.2 |
2.74 |
0.514 |
| and |
173.1 |
179.2 |
6.10 |
0.390 |
| Including |
176.2 |
177.7 |
1.50 |
0.751 |
| SpM1004 |
103.3 |
115.2 |
11.90 |
0.203 |
| SpM1006 |
48.2 |
61.5 |
13.30 |
0.214 |
| Including |
60 |
61.5 |
1.50 |
0.634 |
| and |
87.3 |
87.7 |
0.40 |
0.786 |
| and |
139.6 |
140.3 |
0.70 |
0.454 |
| SpM1007 |
32.9 |
48.6 |
15.70 |
0.677 |
| including |
42.1 |
45.1 |
3 00 |
1.140 |
Drill hole SpM1007 returned the most significant
intersection to date on the Acrex property. This hole
intersected 1.140 g/t gold over a 3.0 metre core length within a
15.70 metre wide zone that assayed 0.677 g/t gold. Additional
drilling as step-outs from this drill hole are required to further
define this potential target zone.
The results from the 2010 drill program indicate
that the volcanic and sedimentary rocks tested by drilling along
the target trend contain areas of significant gold
concentration. These areas of elevated gold in bedrock are
considered to be good exploration targets for bulk-mineable gold
mineralization similar to that found on the adjacent Spanish
Mountain Gold property.
Acrex is currently investigating methods of
drilling to allow further testing of areas where overburden
problems inhibited bedrock penetration. In particular,
follow-up drilling along the strong gold in soil anomaly extending
southward from drill hole SpM1001 is warranted. The use of
specialized drill equipment should also allow Acrex to penetrate
through the water saturated overburden present in holes SpM1002 and
SpM1003 in order to reach bedrock.
Acrex is excited about the results from its 2010
drilling program at the Property and remains well funded to be in a
position to aggressively continue to drill the Property in
2011. Acrex's geological team is currently evaluating these
results and will be devising a 2011 drill program well in advance
of the beginning of the drilling season. Acrex currently has
approximately $1.1 million in the
treasury.
All drill core was logged and sampled at a
facility located near the property. Samples were split from the
core and shipped to Acme Labs Ltd in Vancouver, BC. The remaining half of the core
is stored in the Company's core storage facility in Likely, BC.
Mr. Perry
Grunenberg, P.Geo. of P&L Geological Services is the
Company's supervisor for the Spanish Mountain Project and
"Qualified Person" for the purpose of National Instrument
43-101.
ACREX VENTURES LTD.
T.J. Malcolm Powell,
President
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 News Release.
SOURCE Acrex Ventures Ltd.
Copyright v. 8 PR Newswire