Jul. 11, 2011 (Canada NewsWire Group) --
SXR:TSX-V
www.sgxresources.com
WINNIPEG, July 11, 2011 /CNW/ - Hugh Wynne, CEO of SGX Resources Inc. (SXR: TSX-V) is pleased to report that exploration drilling from surface has extended the Timmins North (formerly known as Black Pearl) deposit to depth by over 200 meters from previously known drilled limits. Drill hole # SGX-11-87 intersected 9.1 g/tonne (0.27 oz/ton) over 2.5 meters (8.2 ft) at nearly 500 meters below surface, the deepest intersection obtained to date. Substantial widths were also encountered as in drill hole # SGX-11-78, cutting 5.9 g/tonne (0.17 oz/ton) over a drilled length of 7.2 meters (23.6 ft) at 300 meters below surface. Infill drilling continues in the upper 200 meters of the deposit in order to define and upgrade the deposit, while exploration drilling continues in order to extend the deposit along strike and to depth. Multiple intersections were obtained in a number of drill holes and visible gold was commonly observed. The Timmins North gold deposit is owned 50% by San Gold Corporation (SGR: TSX) and 50% by SGX Resources Inc. with SGX being the operator.
All holes from this phase of drilling are listed below:
| Hole # | From (m) | To (m) | Length m | (ft) | Gold g/tonne | (oz/ton) | Zone/Lens | ||||||||
| SGX-11-78 | 309.0 | 316.2 | 7.2 | (23.6) | 5.9 | (0.17) | TN #1 | ||||||||
| SGX-11-85 | 429.0 | 430.0 | 1.0 | (3.3) | 3.1 | (0.09) | TN #1 | ||||||||
| SGX-11-86 | 420.0 | 421.0 | 1.0 | (3.3) | 42.7 | (1.25) | TN #1 | ||||||||
| SGX-11-87 | 517.5 | 520.0 | 2.5 | (8.2) | 9.1 | (0.27) | TN #1 | ||||||||
| SGX-11-90 | 425.6 | 428.5 | 2.9 | (9.5) | 4.3 | (0.13) | TN #1 | ||||||||
| and | 459.0 | 460.1 | 1.1 | (3.6) | 16.9 | (0.49) | TN #2 |
The Timmins North deposit has a known length of over 600 meters and remains open in all directions, strikes in an east-west direction and dips steeply to the north. The deposit has not been fully delineated, and has now been drill tested to depths of 500 meters below surface. In addition, there are numerous areas within the deposit which have not been drill tested and could contain additional resources. Three diamond drill rigs are currently drilling in and around the Timmins North deposit. The deposit dips steeply to the north, and is a series of quartz vein and alteration hosted stacked lenses within a mafic volcanic tuff unit that lies between ultramafics to the south and sediments to the north. This property is located within the Tully Township, near and to the north of Timmins, ON.
Sections, plans and diagrams related to this press release are available at the company's website www.sgxresources.com, including a detailed longitudinal section displaying the results to date as well as planned drilling.
This program was carried out under the supervision of John Boissoneault, P.Eng., of SGX Resources Inc., the qualified person responsible for this news release. The drill core was split, with half sent to an accredited laboratory in Timmins, ON and fire assayed with an AA and gravimetric finish. Whole metallic assays were performed on samples containing visible gold. Check assays were also performed on pulps and rejects, as well, blanks and standards were inserted into the sample stream. The core lengths are actual lengths as drilled and have not been adjusted for the true width of the mineralized zones.
A copy of the press release including graphics will be made available on the company's website and has been filed with Sedar.
NOTE: The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied in the forward-looking information.
Hugh Wynne, CEO of SGX Resources Inc., at 1 888 749-4621 or at (204) 791-1723