"AuEx Ventures and JV partner Fronteer Development Group (TSX-FRG, not rated) announced today initial metallurgical results for the Long Canyon gold deposit located in eastern Elko County, Nevada. Long Canyon is a joint venture between AuEx (49%) and Fronteer Development Group Inc. (51 % and operator).

Four grab samples submitted for bottle roll testing (averaging 2 kg) averaged 93% with low reagent consumptions. Also, bottle roll test results for four larger bulk samples, averaging approximately 1.5 tonnes, delivered encouraging results averaging approximately 94% recovery of contained gold with low reagent consumption. Column leach results are pending.

The delivery of metallurgical results demonstrating recoveries greater than 90% suggest that mineralization is likely amenable to standard extraction techniques, including heap leaching. Column leach tests will confirm, as will testing of samples deeper in the mineral system from core drilling.

Mineralization is open to the northeast, well beyond the limits of the original soil gold anomaly, to the southwest and at depth. The strike extent of gold mineralization, known from drilling, rock chip, and soil samples, now stands at about 2,200 m. With an aggressive drill program planned to begin in May and run through to October, news flow from Long Canyon will be frequent. With $10.7 million in the treasury, AuEx is adequately financed to fund its share of exploration expenditure at Long Canyon in addition to advancing and expanding its exploration property portfolio, supported by joint venture partnerships."
    -CHRIS THOMPSON,   HAYWOOD SECURITIES (04/27/09)

"There is, however, no doubt that new gold deposits will be found. They are going to come from the hungry, intellectually astute and well-financed junior exploration companies, most of whom you have never heard of. The successful company management teams will be comprised of motivated people who are anxious to make their name in the mining industry. They will be bringing new ideas to old areas and old ideas to new areas. It is therefore imperative to focus on what appear to be legitimate, major gold discoveries and under-appreciated gold resources. Guessing won’t work in this market: economic and geologic reality is key.

An example of taking new ideas into old areas is the Long Canyon gold discovery of AuEx (XAU.TSX-V) and Fronteer Development (FRG.TSX, FRG.AMEX). At Long Canyon, Nevada, AuEx and Fronteer are in the very early stages of proving up a gold deposit that could be part of a new district. This is Carlin-style gold mineralization in a new geographic setting. This year’s drilling will target mineralization on trend and at depth. If they can significantly expand the resource beyond the current ~800,000 ounces a major gold company should take notice."
    -   Brent Cook, The Gold Report/Exploration Insights (04/14/09)

"AuEx Ventures (XAU-TSX-V) and Fronteer (FRG-TSX) released the first resource estimate for their Long Canyon, Nevada, joint venture (XAU-49%, FRG-51%). The estimate is based on approximately 130 drill holes within a northeasterly trending zone about 1.7 kilometers long by up to 400 meters wide. The results come in at the high end of my previous guesstimate (EI December 21, 2008) and show an indicated 363,000 ounces grading 2.35 grams per tonne gold and an inferred 459,000 ounces grading 1.63 grams per tonne gold.

This is a good start to the project and suggests to me that Long Canyon will eventually become a very robust mine. When the resource report and metallurgical data are published, we will have enough data to extrapolate an approximate net asset value. The mineralization defined so far is completely oxidized and high grade."
    -   Exploration Insights (03/15/09)

"Over to the east, toward the Utah border, AuEx Ventures has a very interesting new discovery. It looks like a Carlin-type occurrence. There hasn’t been much in Carlin proper that I know about. Aside from Cortez Hills, which Barrick is developing, that area’s been pretty well picked over. The only thing truly new that I’m aware of is this AuEx discovery in eastern Nevada. They’ve got two properties JV’d there with Agnico and Fronteer. That looks like a great discovery and it’s growing, although it’s divided up between the three companies involved there." Read full article
    -   The Gold Report Interview with Joe Foster (03/13/09)

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