KELOWNA, BC, Nov. 4, 2011 /CNW/ - Tiex Inc. ("Tiex" or the "Company") (TSX-V: TIX) further to the Company's October 3rd news release the Company is pleased to announce the third update of the
exploration work on its Gold Creek and Horsefly Properties in the
Quesnel Trough area of central British Columbia.
The Company's ground work portion of 2011 summer program has completed
the collection of 1,827 soil samples in the areas of Gold Creek,
Cedar/Louis, Jack (Megamag), McKaygold, Corey (Horsefly Mtn), Elbow
Lake and Bosk Lake. All soil samples have been sent into the
laboratory; many of the results have been received and are currently
being entered into geological models for review. Induced-polarization
("IP") surveying is completed on Viewland and Elbow Lake Projects. The
geochemical and geophysical work has now advanced to the point that the
Company has developed detailed drill target planning maps for the Gold
Creek, Quesnel Forks and Viewland areas. These drill target planning
maps will be posted on the Company's website in the very near future.
The pilot diamond drilling project on Gold Creek has now been completed.
All drill core samples are now being prepared to be sent into the
laboratory for assaying. This pilot project tested diamond drill
methods to increase core recovery that was experienced in previous
drill programs. Management was pleased with the results of the project.
The drill permit for the 2,000 meters of reverse circulation ("RC") on
the Viewland Project has been issued and the drill program is currently
underway. This program will test a 700 x 2200 meter and a 900 x 2700
meter highly anomalous in copper area confirmed by MMI soil data and
geophysics. Once the Viewland Project is completed the Gold Creek RC
program will start. This drilling program will consist of ~7,600 meters
on the Gold Creek Sedimentary-hosted Gold Project to test the >12 km of
gold in soil anomalies. .
Stephen Wetherup, BSc. P.Geo the qualified person as defined by National
Instrument 43-101 is responsible for the technical information provided
in this release
About Tiex Inc:
Tiex Inc. is a TSX Venture listed mineral exploration company focused on
the exploration of its 95,559 hectare Cariboo Goldfields Project,
(including the earn-in option/joint venture agreement with Newmont
Canada Corporation announced in the Company's April 27, 2011 news
release) located in the historic Quesnel Trough area of central British
Columbia, Canada. The property is accessible by highway and logging
roads year round. For more information, you can visit the company's
website at www.tiexinc.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Kenneth D. Faulkner"
President & CEO
Certain information regarding the Company including management's
assessment of future plans and operations, may constitute
forward-looking statements under applicable securities laws and
necessarily involve risks associated with mining exploration and
development, volatility of prices, currency fluctuations, imprecision
of resource estimates, environmental and permitting risks, access to
labour and services, competition from other companies and ability to
access sufficient capital. As a consequence, actual results may differ
materially from those anticipated in the forward-looking statements.
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 RELEASE.
SOURCE TIEX Inc.
For further information:
Ken D. Faulkner, President & CEO
Telephone: (250) 869 - 1607
Facsimile: (250) 868 - 0798