KELOWNA, BC, Dec. 14 /CNW/ - Tiex Inc. ("Tiex" or the "Company") (TSX-V:TIX) is pleased to announce that it has commenced drilling on its Gold Creek project located just north-east of Likely B.C. near Skygold's Spanish Mountain gold deposit. LDS Diamond Drill Ltd. of Kamloops B.C. has been awarded the drill contract based on their extensive experience in the area. LDS Diamond Drill Ltd has drilled many hundreds of holes on behalf of Skygold at the Spanish Mountain gold project.
The drill contract is for 12 holes totaling 2400 metres. The contractor hopes to drill as many holes as possible before the Christmas break with assay results being received before drilling recommences in the New Year on the remaining holes.
The drill program will test recently discovered zones in an area of historically known gold occurrences. These zones are substantiated by recent, geophysical and MMI geochemical surveys completed by the Company. The Gold Creek zone is comprised of carbonate-altered wacke and tuffaceous wacke located at the conjunction of the Gold Creek and Poquette Faults and in proximity to a hornblende diorite intrusion. The Cariboo Goldfields project area includes the highly prospective black shales and phyllites of the "Quesnel Terrane" that occur in deformed and metamorphosed sedimentary formations. This terrane is also perspective for volcanoclastic hosted hydrothermal gold vein systems and porphyry deposits, such as the nearby Mount Polly mine.
Ernie Bergvinson president of Tiex Inc. commented "We are very excited to be going back to the Gold Creek project. It is amazing the difference a year makes. Last year we had so much trouble getting a drill contractor, let alone one with extensive experience in this area. We know there is a large system with gold values and with an experienced drill contractor our chances for success are increased."
John Edward Buckle, P. Geo., P. Geoph, the Company's Vice President of Exploration and a qualified person as defined by National Instrument ("NI") 43-101, has reviewed and approved the technical information contained in this News Release.
About Tiex Inc.
Tiex Inc. is a TSX Venture listed mineral exploration company focused on the exploration of it mineral properties located in the Cariboo Gold Fields of central British Columbia Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
President and 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.
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SOURCE TIEX INC.
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