News Releases
| March 02, 2010 Acrex Ventures Announces Spanish Mountain 2010 Work Program | |
| Acrex Ventures Ltd. ("Acrex") is pleased to announce a planned work program for 2010 on its Spanish Mountain Property located near Likely, BC. Acrex's Spanish Mountain Property is located immediately adjacent to and along strike from Spanish Mountain Gold Ltd's Spanish Mountain gold project. Properties bordering both sides of the Acrex claims have presented positive results from exploration over the past 2 years. This has provided incentive for Acrex to continue exploration for gold resources on its properties. On May 18, 2009, Spanish Mountain Gold released an updated 43-101 compliant resource for its Spanish Mountain Gold project. The updated measured and indicated gold resource is 102.26 million tonnes at an average grade of 0.785 g/t (2.58 million ounces gold) and an inferred resource of 11.65 million tonnes at an average grade of 0.787 g/t (290,000 ounces gold), in each case based on a cut-off grade of 0.50 g/t gold. This updated resource represents an increase of 47% when compared to the initial resource estimate for the property previously disclosed on April 3, 2008. These results are reported from the Main Zone on the property, parts of which are located just over 1 kilometer east of the border with Acrex claims. Spanish Mountain Gold also indicated that reconnaissance reverse circulation drilling intersected anomalous gold values indicative of Main Zone style mineralization 1.3 kilometers west of the Main Zone, much nearer to the Acrex claims, including 6.1 metres of 0.98 g/t gold (Skygold news release December 18, 2006). On the west side of the Acrex claims, Tiex Inc reported results from its 2009 drilling program that intersected wide widths of elevated gold (0.25 to 0.5 grams/tonne) containing higher grades over shorter widths (eg. 6.04 g/t over 1.07 m). These results are similar to those reported by Spanish Mountain Gold from drill holes contained within their Main Zone resource area. The general trend of rocks that hosts the gold mineralization on both the Tiex and Spanish Mountain Gold properties pass through the Acrex property (see attached figure). In 2007, Acrex completed diamond drilling in 11 drill holes on its Property. The 2007 drilling program continued from the 2006 program that sampled geophysical and geochemical targets on the Hepburn Lake portion of the Property. Drill holes return a highest gold value of 2.42 g/t gold returned from a sample taken from 279 m to 280.5 m depth in hole 07SpM-01 (Acrex News Release of March 25, 2008). This hole was drilled to intersect the down-dip extension of a gold bearing horizon intersected in 2006, drill hole 06SpM-15. 06SpM-15 returned two gold intersections grading 2.54 g/t over 1.51 m and 2.29 g/t over 1.52 m. Drill hole 07SpM-02 intersected a wider intercept of low grade gold values interpreted to be similar to the Main Zone mineralization reported by Spanish Mountain Gold Ltd. Based on the positive results of exploration on adjoining properties, Acrex is planning to proceed with exploration on its Spanish Mountain Property, in particular within claims of the Hepburn Lake group located between the Spanish Mountain Gold and Tiex Inc properties. A work program consisting of soil geochemical sampling and ground magnetometer surveys is planned for spring 2010. Based on positive results, a trenching and/or drilling program may commence during the 2010 field season. Mr. Perry Grunenberg, P.Geo. of P&L Geological Services is the Company's supervisor for the Spanish Mountain Project and "Qualified Person" for the purpose of National Instrument 43-101. FOR FURTHER INFORMATION PLEASE CONTACT: Investor Relations Tel: 604-618-1758 Fax: 604-687-4212 email: info@acrexventures.com website: www.acrexventures.com ACREX VENTURES LTD. T.J. Malcolm Powell, President Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.  Click to Enlarge | |
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