Oct 13 2010
Tiex Inc. (TSX-V:TIX) has provided an exploration update on its 100% owned, 109,442-hectare Horsefly property, which is located 150 km east-northeast of Williams Lake, British Columbia. The prospecting program undertaken by the Company identified at least five potential areas of Au/Cu Porphyry targets plus a newly discovered copper showing.
Maps showing the distribution of the gold, silver and copper soil geochemical results may be viewed on the Google Earth, Horsefly property maps and photos page on the Company's website at www.tiexinc.com.
The results of the reconnaissance prospecting program are encouraging:
Bullion The property adjoins the Gold Fields, Fjordland and Cariboo Rose Woodjam JV. The southeast Au/Cu Porphyry zone located in the northern Tokomkane Batholith has attracted interest in the area. Tiex's claims are staked along the favourable Tokomkane Batholith contact Viewland This property is a priority exploration project due to size, strength, and correlation with aeromagnetic features. Elevated to anomalous gold-copper-molybdenum values occur in this area. The property was staked because of an aeromagnetic anomaly and the underlying geology. The aeromagnetic anomaly was interpreted to be reflecting a syenitic intrusive which could be mineralized in similar fashion to the Mt. Polley Mine located 40 km to the west-northwest Megamag This area comprises a 5.0-km length MMI (Mobil Metal Ion) anomaly and magnetic high that is associated with elevated gold, silver and copper values Horsefly Mountain Located on Horsefly Mountain, this is an area encompassing a historical Au/Cu Alkalic porphyry showing. The company has collected 286 samples spaced 50 metres apart along several logging roads and these samples will be sent to SGS Minerals Services in Toronto, Ontario for multi-element (46) MMI analysis Jamboree An MMI reconnaissance grid survey of 860 samples has revealed three anomalies which are significant in Au, Ag, Cu and Mo. An additional 378 samples have been taken between Crooked Lake and Bosk Lake and will be sent to SGS Minerals
Tiex also plans a work program on the Jack showing discovered by a local Horsefly prospector on the companies claims at Horsefly Lake. The showing exposes an area of copper oxide staining (malachite and azurite) which will require follow up work to determine the size and grade of the mineralization.
The Company is planning further exploration, which will include diamond drilling, induced polarization (IP), geophysical surveying and soil sampling. The properties are readily accessible along a well developed network of established forestry roads.
Management is seeking a strategic alliance with a major mining company for the exploration and development of Tiex's gold/copper porphyry properties.
John Buckle P.Geo., P.Geoph a Director of the Company and qualified person as defined by National Instrument 43-101 is responsible for the technical information provided in this release.