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Explorex Resources finds high grades from grab sampling at Bonanza Mountain

Three separate styles of mineralization were discovered as 1,074 soil samples and 54 rock samples were taken at the site, the company said

Explorex Resources Inc. -
An epithermal quartz vein was found to contain a grab sample grading 19.7 g/t gold and 28 g/t silver

Explorex Resources Inc (CSE:EX) (OTCMKTS:EXPXF) reported grab sample assays from its Fall 2019 exploration program at the Bonanza mountain precious and base metal project in British Columbia, which showed high grades.

Three separate styles of mineralization were discovered as 1,074 soil samples and 54 rock samples were taken at the site, which saw significant exploration and development from the late 1800s through to the early 1900s, the firm said.

READ: Explorex Resources to acquire Asian financial services company in major strategic shift for mineral explorer

The high grades were collected at or near 15 historical workings, comprising shafts, adits and blast pits.

Skarn mineralization of copper, zinc, lead and silver hosted one grab sample grading 2.44% copper, 4.41% zinc, 0.47% lead and 53 grams per ton (g/t) silver, Explorex said.

There was also breccia mineralization found with one grab sample grading 266 g/t silver, 3.14% lead and 5.31% zinc.

Meanwhile, a gold, silver epithermal quartz vein was also found to contain a grab sample grading 19.7 g/t gold and 28 g/t silver.

"The high grade mineralization coincident with a sizable soil anomaly and structural feature supports forms an evident indication as to why the Bonanza Mountain Project witnessed significant exploration and development activity at the turn of the 19th century," said Mike Sieb, president of Explorex.

"Of note, the abrupt cessation of activity at Bonanza Mountain and the disappearance from the historic record provides Explorex with a distinct opportunity to carry on where the miners of old left off."

Also in Monday's statement, the firm announced the termination of the deal with New Tech Minerals Corp, announced last summer, on the Buena Vista Hills Cobalt Iron Oxide Copper Gold (IOCG) property in Nevada.

Contact the author at [email protected]

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