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Tiex reports on exploration program on Bullion Cu-Au Porphyry Property in British Columbia
Shares Issued: 46,329,480 KELOWNA, BC, June 27, 2012 /CNW/ - TIEX INC. (TSX-V:TIX) ("T...
About this update from Bullion Gold Resources Corp.
[{"type":"text","content":"\n\n\n\n\n\nShares Issued: 46,329,480\n\n\nKELOWNA, BC, June 27, 2012 /CNW/ - TIEX INC. (TSX-V:TIX) (\"Tiex\") is pleased to provide an update on work completed in 2011 on their\n 16,180 hectare Bullion Cu-Au Porphyry Property which is under an\n earn-in option/joint venture agreement with Newmont Canada Corporation\n (\"Newmont\"). The Property is located in the prolific Quesnel Terrane of\n central British Columbia, Canada and is accessible by highway and\n logging roads year round.\n\n\nIn 2011, Newmont conducted an airborne magnetic and radiometrics survey\n covering approximately 230 square kilometres. A total of 2,451 line-km\n of data including tie-lines were completed, along survey lines oriented\n east-west and spaced at 100 m. The geophysical datasets provide a\n structural and igneous framework for future exploration in the\n district, and provide a regional understanding of geology in an area\n with rare rock exposure. The airborne data delineated three large areas\n of positive magnetic response that Newmont expects to follow-up in the\n 2012-13 exploration seasons. These areas include two in the eastern\n part of the Bullion/Tak claim block and one area nearest the Woodjam\n property in the extreme northwest corner of our Bullion/Tak claim\n block. Follow-up work will entail using a combination of geologic,\n geophysical and geochemical methods to evaluate the magnetic anomalies\n found by the airborne survey. The results of the radiometric data\n appear to identify coherent anomalies yet to be explained and will be\n field-checked. An induced polarization (I.P.) geophysical program is\n now underway which will determine the course of further exploration.\n The \"good-to\" date of these tenures have been moved forward to June 23,\n 2017 through work applied to the Property by Newmont.\n\n\n\"Our geological interpretation in regard to porphyry anomalies in the\n Cariboo Region has been that they occur coincident with magnetic highs,\n both within the magnetic volcanic rocks and within the non-magnetic\n sedimentary-volcanic rock sequences. They are in many cases under\n cover, representing blind geological targets but we do believe that new\n discoveries are there to be made\" stated Ken Faulkner, President and\n CEO for Tiex. \"Newmont's work on our Bullion Property to date has shown\n some very positive results an...