VANCOUVER, BRITISH COLUMBIA--(Marketwire -01/05/12)- Goldex Resources Corporation (TSX-V: GDX.V - News) ("Goldex" or the "Company") is pleased to announce the signing of a drill contract with 'Drift de Mexico S.A de C.V' a subsidiary of 'Forage Orbit Garant Drilling' for an initial drill program of up to 4000m on the company's El Arco project located in the Durango state of Mexico.
Goldex expects the program to begin shortly and plans for a continuing 50 hole, 15,000m exploratory drill program at El Arco depending of results of the first phase 4000m RC program. The El Arco property is located in the Mexican State of Durango which is host to a number of illustrious neighbours and mines including Great Panther Silver, with its 'Topia' Property, Oremex Silvers flagship 'Tejamen' concession and Fresnillo PLC's 'La Cienega' mine, previously one of the largest producing gold mines in Mexico. Goldex VP of exploration, Larry Kornze, formerly the regional manager of Mexico and Central America for Barrick Gold has called El Arco "The best undrilled property in the Americas" and was part of the geology team responsible for the planning of the upcoming drill program.
The property at El Arco is a low-sulfidation epithermal gold-silver quartz-vein and stockwork system hosted in Tertiary volcanic and shallow intrusive rocks of rhyolite to andesitic composition within the Serria Madre Occidental physiographic province.
The Arco project area is a new discovery and there is no evidence of previous exploration work or prospecting on the concessions. The work completed on the El Arco properties to date includes surface sampling of veins and rock outcrops and geologic mapping. Permit approval to drill at the concession was recently approved by the relevant governmental agencies (see news Release dated November 23rd, 2011) and letters of approval have also been granted by the local ejido for surface access rights to conduct drilling and other exploration activities.
CHUCK ROSS, President, GOLDEX RESOURCES CORPORATION
This news release has been reviewed and approved by Larry Kornze (P.Geo), a Qualified Person as defined in NI 43-101.
Goldex Resources Corporation is a TSX-listed (GDX) junior resource company exploring for gold in the Americas. Led by experienced resource professionals and a world class geological team Goldex's operations include prestigious, strategically focused projects in both Guatemala and Mexico.
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The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.
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