Goldex Resources Announces Sample Assay Results from the El Cerrito West Sector of Its El Pato Project in Guatemala.
Wednesday, May 18, 2011 NEW WS RELEASE
GOLDEX RESOURCES ANNOUNCES WEST SECTOR OF S SAMPLE ASS SAY RESULTS S FROM THE E EL CERRITO W ITS S EL PATO PR ROJECT IN GU UATEMALA.
VANCOUVE ER, BC - Gold dex Resources s Corporation (TSX VENTUR RE:GDX) (“Go
oldex” or the “Company”) today announced d sample assay y results from the El Cerrito West sector o of its flagship El Pato prope erty in Guatem mala. A bulk sample was taken as part of on ngoing geologic cal work at El Pato that co ompliments a 5000 meter d drilling program cu urrently underw way.
A single co omposite bulk sample was c collected in the Cerrito West t Sector where e the 1.5 to 2 2-meter thick quartz vein is irre egularly expose ed along a dip slope. Approxi imately 110 kil lograms of qua artz vein material representing the typical El P Pato style mine eralization was s collated from m four points along a 30-mete er strike length h of the vein a at spoil piles from m pre-existing dozer cuts. The sample w was loaded in nto 9 5-gallon buckets and delivered t to the ipment of the Inspectorate sample lab b in Guatemala a City. Inspect torate labs ar rranged for shi e sample to Ka appes, Cassiday a and Associates* (KCA) in Reno, Nevada w where it was r received for a assay and addi itional metallu urgical testing.
The table b below shows th he 18 separate e gold and silve er assays as det termined by th he KCA metallu urgical lab und der the supervision n of Dan Kapp pes, the resident QP. The bulk sample w was collected under the su upervision of G Goldex on the 8th April 2011.
geologist R Richard Bybee o
Bucket KCA A Sample No. Assay y Assay No.
g/t Au u g/t Ag
451 A 1 1 25.44 4 18.6 451 B 2 2 22.59 9 18.0 451 C 3 3 19.41 15.0 451 D 4 4 27.50 0 23.6 451 E 5 5 28.77 7 20.4 451 F 6 6 51.60 0 29.4 451 G 7 7 14.74 4 13.2 451 H 8 8 32.61 23.8 451 I 9 9 33.09 9 28.2 451 A 10 1 25.10 0 19.4 451 B 11 2 21.81 17.6 451 C 12 3 20.07 7 14.9 451 D 13 4 27.29 9 24.8 451 E 14 5 29.08 8 20.8 451 F 15 6 50.74 4 31.2 451 G 16 7 18.07 7 13.6 451 H 17 8 33.53 3 25.2 451 I 18 9 34.18 8 27.4
Av verage 28.64 g/t Au 21.39 g/t Ag
The results s were compiled utilizing 30 0 gram fire ass says with a gra avimetric finis sh for gold and d four acid dig gestion with atomi ic absorption finish for Silver r.
age grades of 2
28.64 g/t Au
u and 21.39 g
g/t Ag.
These resu ults show avera
els of mineralization may be The sample results listed d in the tables s above show s significant leve e found in the e area. The tests were conducted as part o sis for developing four areas for of a larger pr rogram to pro ovide the bas exploitatio on within the E El Pato Project.
e very encouraging results in keeping with the general ge “These are eology we are finding at El P Pato and they b bolster m currently underway” state the explor ration program ed Goldex pres sident Chuck Ross. “This on ngoing samplin ng and trenching w work goes hand d in hand with our present 50 000 meter drill ling program”.
.
t of the town of Chiquimula, the The El Pat to project is l located in sou uth-eastern Gu uatemala, 5 ki ilometers west closest com mmercial centr re to the proje ect and approx ximately 110 ki ilometers east t of Guatemala a City. The pro oject is accessible via paved road d.
This news release has b been reviewed d and approve ed by Richard Bybee (P.Geo)
), a Qualified d Person consis stent with NI 43 3-101.
CHUCK RO OSS, President
GOLDEX RESOURCES CO ORPORATION
information please visit: w www.gold dex.ca
For more i
*Kappes, Ca
assiday & Assoc
ciates (KCA) spec cializes in the de evelopment, engineering and imp plementation of f extractive metallurgica al processes for the mining industry. Since 1972, , we have been k known for our ex xpertise in gold/ /silver heap leac ching. Our staff of f over 70 people includes more th han 20 process e engineers and 25 5 laboratory per rsonnel who hav ve a broad range e of practical exp perience includin ng copper leachi ing and recovery y, flotation and g gravity concentr ration, and deve elopment of com mplex hydrometallurgical flow she eets. http://www w.kcareno.com/
Neither th he TSX Venture e Exchange nor r its Regulation n Services Pro ovider (as that term is define ed in the polic cies of the TSX Ve enture Exchang ge) accepts res sponsibility for r the adequacy y or accuracy o of this release.
Forward-L Looking Statem ments
rd-looking statements contained herein are The forwar e expressly qua alified in their entirety by this cautionary . The forward-looking statem statement.
ments included in this docume ent are made a as of the date of this docume ent and the Co ompany disclaim ms any intentio on or obligatio on to update or r revise any for rward-looking statements, ed by applicable whether as s a result of ne ew information n, future event ts or otherwise e, except as ex xpressly require ement believes that the expe securities l legislation. Alt though Manage ectations repre esented in such h forward-looki ing correct. This news statements s are reasonable, there can b be no assurance that such ex xpectations wil ll prove to be c ute an offer to sell or solicita release doe es not constitu ation of an offe er to buy any o of the securitie es described he erein.