Symbol "AKV": TSX Venture Exchange
SEC Form 20F Registration CIK: 1194506
Symbol "AXVEF": OTC BB
VANCOUVER, Nov. 15 /CNW/ - Acrex Ventures Ltd. ("Acrex") is pleased to
provide an update of the 2007 drill program on its Spanish Mountain property,
located near Likely, BC. The drilling program is being carried out on Acrex's
Hepburn Lake claim block approximately 2.0 km northwest of the Spanish
Mountain Joint Venture gold project of Skygold Ventures Ltd. and Wild Rose
Resources Ltd. Over the last two years drilling and compilation work by the
Spanish Mountain Joint Venture has outlined a large tonnage, potentially bulk
mineable, sediment hosted gold system with average gold grades of greater than
1.0 g/t. The Main mineralized zone measures 1,200 metres x 500 metres and is
up to 135 metre thick. The deposit remains open in all directions.
Acrex's consultants, PBG Geoscience of Kamloops, BC, advise that 10 of
the proposed 11 drill holes have been completed on the property. The maximum
hole depth completed in the 10 holes is 309 metres (1015 feet). The drilling
has sampled several different target areas on the Hepburn Lake portion of the
property. These include targets defined by the results of an airborne
geophysical survey completed earlier this year. The airborne survey indicated
a number of strong electromagnetic (resistivity) zones that trend from the
Main Gold Zone on the Skygold-Wildrose Joint Venture property onto the Acrex
claims. As well, the current drilling will further test the area around the
gold-bearing intersections returned from drill hole 06SpM-15, completed in the
fall of 2006 (see Acrex news release dated January 17, 2007). This drill hole
returned significant gold-bearing intersections, including 2.54 grams per
tonne over 1.51 metres and 2.29 grams per tonne over 1.52 metres.
A total of 1,600 metres (5250 feet) of diamond drilling have been
completed in the first 10 drill holes of the 2007 program. All core is being
logged and sampled at a facility located near to the property. Samples are
being split from the core and are shipped to Assayers Canada Laboratory in
Vancouver BC. Results of analysis are expected to be completed within the next
30 to 60 days. The remaining half of the core is stored in the Company's core
storage facility in Likely, BC.
Results of the current program will be used in preparing for a major
drill program planned for the Spanish Mountain property in 2008. In 2008
drilling will continue to test the Hepburn Lake area and will also test the
Spanish Mountain area to the southeast. Soil sampling was completed earlier
this year to extend coverage on the Hepburn Lake area, and on the Spanish
Mountain block. Laboratory results from soil samples are expected in the weeks
ahead. The 2008 drill program will follow-up results of the 2007 drilling, and
will also test new targets defined by the airborne geophysical survey and the
soil geochemical surveys. Data compilation, leading to target definition on
this property, is planned for the winter months.
Mr. Perry Grunenberg, P.Geo. of PBG Geoscience is the Company's
supervisor for the Spanish Mountain Project and "Qualified Person" for the
purpose of National Instrument 43-101.
ACREX VENTURES LTD.
T.J. Malcolm Powell,
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this Release.
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