Symbol "AKV": TSX Venture Exchange
VANCOUVER, Aug. 10 /CNW/ - Acrex Ventures Ltd. ("Acrex") is pleased to announce results of soil sampling and completion of trenching on its West Block Spanish Mountain Property (the "Property") located in the Cariboo Region near Likely, British Columbia, within 2.5 kilometers of and adjacent to, Spanish Mountain Gold's ("SPA") 2.8 million ounce Gold deposit.
Results of the soil sampling program show an important zone of high gold-in-soil values that extends from SPA's main zone northwestward across the Property to Tiex Inc.'s gold discovery area. The gold-in-soil values commonly measured 100-200 parts per billion ("ppb"), with numerous higher isolated values ranging from 500 ppb to 1000 ppb.
The Cedar Creek gold target, which was recently identified by SPA as "an area of interest" worthy of definition for drilling (SPA New Release dated July 16, 2010), adjoins the Acrex target zone along the southern border of the Property (see attached figures). The high gold-in-soil geochemical results clearly define a high priority target within the Property that has now been followed up with trenching and will be drilled as soon as possible.
The 2010 West Block soil sampling program included approximately 15 kilometres of line surveying and the acquisition of 589 soil geochemical samples. All soil samples were submitted to Acme Laboratories Ltd in Vancouver for multi-element analysis. The soil sample program extended an in-filled sampling conducted in 2006 and 2007. Highly anomalous gold values returned from the Acrex soil sampling are found to be coincident with airborne geophysical anomalies that trend through both the Acrex West and East claim blocks.
The recently completed trenching program consisted of 3 areas within the 2010 target zone. All trenches were sampled along their total length at the maximum depth of the excavator reach. The trenches ranged from 3 to 5 metres in depth. As well as trenching, Acrex completed 2 additional lines of soil sampling to complete the soil grid to the east edge of the West Block claims. A total of 18 trench samples and 40 soil samples were submitted to Acme Labs in Vancouver for analysis. Results are expected shortly.
Acrex has contracted Atlas Drilling Ltd. of Kamloops, B.C. for the completion of up to 1,500 metres of drilling to test the identified targets. The diamond drilling program is planned to commence once the final soil sampling and trenching results are received and interpretations have been completed.
Prospecting over the grid area revealed several historic forestry and mining roads that can be rehabilitated to facilitate drill mobilization and future work on the area.
Acrex also plans to extend its East Block Spanish Mountain property soil sampling grid further to the south of where current sampling has been conducted. The airborne geophysical anomaly that coincides with the strong gold-in-soil zone on the Property trends into the area on the East Block where extension of soil sampling will occur.
Acrex Ventures is looking forward to continued exploration on its Spanish Mountain Property. The recent geochemical survey shows exceptional gold-in-soil values over an area with similar geological and geophysical features to the main gold deposit on the adjacent SPA property. Acrex's properties have excellent leverage to continued strength in the gold price and an excellent location that offers infrastructure within a mining friendly jurisdiction.
With approximately $1.5 million in the treasury, Acrex is well funded for continued work on its properties, including the 2010 drilling program and beyond.
Mr. Perry Grunenberg, P.Geo., is the Company's supervisor for the Spanish Mountain Project and "Qualified Person" for the purpose of National Instrument 43-101.
To view the the Acrex soil map please visit: http://www.acrexventures.com/i/maps/SpanishMtn/Spanish_Mt_Soil_Map_Aug2010.jpg
ACREX VENTURES LTD.
T.J. Malcolm Powell,
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.
SOURCE ACREX VENTURES LTD.
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