Welcome!

News Feed Item

SAMEX Prepares Drilling Program at El Gringo Copper and Gold Prospect-Los Zorros, Chile

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/31/13 -- SAMEX Mining Corp. (TSX VENTURE:SXG)(OTCQB:SMXMF) is ready to advance exploration efforts at its 100%-owned Los Zorros project in Chile. The Company is hereby outlining parameters for an upcoming drill program at El Gringo, a copper and gold prospect located within the approximately 80 square kilometer land holdings of Los Zorros. Numerous surface mine workings are found throughout this prospect where copper and gold are believed to have been extracted by artisanal workers in the late 1900's. El Gringo has not been systematically explored or drilled by any prior geological team to date.

SAMEX proposes drilling an initial 5 boreholes (570 meters) to evaluate primarily copper and gold potential throughout El Gringo, as shown on the accompanying graphic plates at www.samex.com. The central coordinates of El Gringo are N 6907000 and E 359716, with heights ranging between 900 and 1000 meters above sea level (Figure No 1).

This drilling campaign will explore this area which is highly structurally controlled, where at least two episodes of alteration and mineralization have been identified. One is defined by manto-type mineralization containing copper and gold, while the other is comprised of feeders associated with copper and gold breccias (Figure No 2). The entire area is underlain by a thick sequence of volcanoclastics associated with lava flows, limestone, siltstones, quartzite and calcareous rocks. Below this mentioned sequence, dioritic granodiorite intrusives of the Upper Cretaceous age are found. Feeders are abundant in an average direction of 320 degrees azimuth.

The El Gringo mineralized area is part of a hydrothermal system, differing from copper porphyries but of close association. The target model is a combination of manto-type mineralization associated with exoskarns and abundant epithermal feeders. This mineralization appears to extend for over 400 meters in width and at least 800 meters in length, while the bulky mineralization is approximately of 360-330 degrees azimuth dipping slightly 15 degrees SE. Abundant copper oxides, specularite, gold, garnets, chlorite, high silicification, carbonates, Fe oxides, wollastonite and manganese have all been found throughout fractures disseminated along wall rocks of the feeder.

This drill program involves a preliminary 5 diamond drill holes with an average depth of 114 meters for a total of 570 meters (Figure No 3 & Table 1). In the event that meaningful visible mineralization is encountered, drilling will continue to greater depths in order to assist in quantifying tonnage potential.

Bulldozer work is currently in progress to construct access roads and drill pads in preparation for drilling at El Gringo, which is expected to commence shortly. SAMEX anticipates further updates on this program in the near future.

Table 1: El Gringo DDH Drill Program


---------------------------------------------------------------------------
                                     Altitude   Azimuth       Dip          
DDH Drill       Northing    Easting       (m) (degrees) (degrees) Depth (m)
---------------------------------------------------------------------------
EG-13-001        6907165     359999      1000        90         0       120
---------------------------------------------------------------------------
EG-13-002        6907339     360092       930       260       80W        80
---------------------------------------------------------------------------
EG-13-003        6907067     360037      1000       280       70W       150
---------------------------------------------------------------------------
EG-13-004        6907042     359698      1008       255       80W        80
---------------------------------------------------------------------------
EG-13-005        6906958     359779      1002       277       60W       140
---------------------------------------------------------------------------

Juan Carlos Toro Taylor, M.Sc. Economic Geology, Chief Geologist of SAMEX Mining Corp., is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.

This News Release includes certain "forward looking statements". Without limitation, statements regarding potential mineralization and resources, exploration results, future prospects of the Company, and future plans and objectives of the Company are forward-looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: risks inherent in mineral exploration and grade of ore mined; risks associated with development, construction and mining operations; the uncertainty of future profitability and uncertainty of access to additional capital. Except as may be required by law, SAMEX undertakes no obligation to revise or update any forward-looking information as a result of new information, future events, or otherwise after the date hereof.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Ayehu will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara California. Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infras...
SYS-CON Events announced today that Datanami has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datanami is a communication channel dedicated to providing insight, analysis and up-to-the-minute information about emerging trends and solutions in Big Data. The publication sheds light on all cutting-edge technologies including networking, storage and applications, and the...
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
SYS-CON Events announced today that EnterpriseTech has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. EnterpriseTech is a professional resource for news and intelligence covering the migration of high-end technologies into the enterprise and business-IT industry, with a special focus on high-tech solutions in new product development, workload management, increased effi...
In this presentation, Striim CTO and founder Steve Wilkes will discuss practical strategies for counteracting fraud and cyberattacks by leveraging real-time streaming analytics. In his session at @ThingsExpo, Steve Wilkes, Founder and Chief Technology Officer at Striim, will provide a detailed look into leveraging streaming data management to correlate events in real time, and identify potential breaches across IoT and non-IoT systems throughout the enterprise. Strategies for processing massive ...
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.
"Our strategy is to focus on the hyperscale providers - AWS, Azure, and Google. Over the last year we saw that a lot of developers need to learn how to do their job in the cloud and we see this DevOps movement that we are catering to with our content," stated Alessandro Fasan, Head of Global Sales at Cloud Academy, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We focus on composable infrastructure. Composable infrastructure has been named by companies like Gartner as the evolution of the IT infrastructure where everything is now driven by software," explained Bruno Andrade, CEO and Founder of HTBase, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organi...
SYS-CON Events announced today that Cloud Academy named "Bronze Sponsor" of 21st International Cloud Expo which will take place October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara, CA. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud com...
What's the role of an IT self-service portal when you get to continuous delivery and Infrastructure as Code? This general session showed how to create the continuous delivery culture and eight accelerators for leading the change. Don Demcsak is a DevOps and Cloud Native Modernization Principal for Dell EMC based out of New Jersey. He is a former, long time, Microsoft Most Valuable Professional, specializing in building and architecting Application Delivery Pipelines for hybrid legacy, and cloud ...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
"Tintri focuses on the Ops side of the DevOps, which basically is pushing more and more of the accessibility of the infrastructure to the developers and trying to get behind the scenes," explained Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We do one of the best file systems in the world. We learned how to deal with Big Data many years ago and we implemented this knowledge into our software," explained Jakub Ratajczak, Business Development Manager at MooseFS, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.