Ontex latest results from Brookbank out. Look great. Next to SGX Paint Lake for those who don't know. Many have wondered how SGX managed to get this little claim. But they did!

red911

Ontex drills 21 m of 17.41 g/t gold at Brookbank

2008-07-23 08:12 ET - News Release

Mr. Gary Conn reports

ONTEX RESOURCES LIMITED ANNOUNCES PHASE 1 DRILL RESULTS AT 100% OWNED BROOKBANK GOLD PROPERTY

Ontex Resources Ltd. has provided assay results from diamond drill holes in phase 1 of the company's continuing 8,000-metre program targeting its 100-per-cent-owned Brookbank gold deposit. The Company is pleased to announce that assay results intersected in Phase 1 where some of the highest ever gold values over mineable widths recorded on the property. Gold intersections occurred at a vertical depth of up to 550 meters. Presently, drilling remains ongoing.

Drill hole #1 (B-08-01) from 453.9 m to 474.9 m of core length intersected 17.41 gms gold per tonne (0.51 oz/t) over 21.0 m (68.9 ft) including 52.2 g gold per tonne (1.52 oz/t) over 5.4 meters (17.7 ft) with an individual high assay of 123.8 g per tonne (3.61 oz/t) over 1.3 m (4.3 ft).

All 8 diamond drill holes from the Phase 1 program totaling 3,700 metres intersected significant mineralization in the main Brookbank Zone between 200 and 550 metres vertically.

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Brookbank Gold Deposit Phase 1 Results
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Drill Hole From (m)            To (m) Length (m) Length (ft) Au (gms)/tonne
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B-08-01      453.9             474.9       21.0        68.9           17.41
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 Including   463.6             469.0        5.4        17.7           52.22
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 Including   465.0             466.3        1.3         4.3          123.77
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B-08-02      488.6             504.6       16.0        52.5           10.62
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 Including   488.6             489.6        1.0         3.3          144.62
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 Including   488.6             492.4        3.8        12.5            41.3
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B-08-03      497.5             511.6       14.1        46.3            8.18
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 Including   507.5             509.9        2.4         7.9           35.25
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B-08-04      455.6             463.0        7.4        24.3            7.39
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 Including   458.8             461.3        2.5         8.2           13.37
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B-08-05      495.7             500.3        4.6        15.1            3.34
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B-08-06      610.1             614.5        4.4        14.4            3.28
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B-08-07      314.3             323.7        9.4        30.8            9.56
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 Including   319.3             321.8        2.5         8.2           24.69
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B-08-08      251.3             260.2        8.9        29.2            2.02
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 Including   251.3             255.4        4.1        13.5            2.26
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 Including   258.8             260.2        1.4         4.6            4.84
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Note: meterages are core lengths. True width of holes 1,2,3,4 & 7 is about
63% of core width, holes 5 & 6 it is about 40% and hole 8 it is about 70%.
All assays are uncut.
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The mineral resources on the property are estimated at 1,625,000 tonnes grading 7.1 gms gold per tonne Indicated (372,900 oz) and 1,622,000 tonnes grading 6.2 gms gold per tonne Inferred (321,800 oz) at a cut off grade of 2.0 g gold per tonne within the Brookbank structure. (Please see "Technical Report Brookbank Gold Deposit Beardmore - Geraldton Area Northern Ontario" dated April 28, 2006 (Technical Report) available on www.sedar.com and on the Ontex web site.) There have been three successful drill programs completed on the property since 2006 that will be included within the new National Instrument 43-101 (NI 43-101) report now being compiled by Scott Wilson Roscoe Postle Associates.

The Company believes there is potential to increase the resources on the property, particularly within the strongly altered, pyritized and mineralized 6 kilometer strike length of heterogeneous brittle and ductile deformation and hydrothermal alteration between the Cherbourg Zone to the west of the main Brookbank Deposit and the Foxear Zone to the east. Deformation is locally in excess of 1 kilometer wide and consists of bands of intense shearing, quartz veining and fracturing. Several parallel bands of localized deformation occur and hydrothermal alteration in the vicinity of gold mineralization and are in excess of 50 meters wide locally.

Gold mineralization has been shown by diamond drilling to extend from surface to a depth of at least 600 meters in the Brookbank structure. Typically shear zone hosted Archean gold deposits in northern Ontario can extend to depths well in excess of 1.5 kilometers.

Several gold mineralized structures including the Bralorne Vein, South Vein and Beaver Dam Vein occur within the hanging wall volcanics and are located to the south of and trend parallel to the main Brookbank Deposit. Similarily three gold mineralized veins were located in the hanging wall rocks south of the Cherbourg Zone which require followup by diamond drilling.

Ontex controls a total of 34 kilometers of east west trending strike length of favourable geology and structure capable of hosting additional gold deposits. The Brookbank structure and other favourable structures on the property may be related to or a splay off the regional Paint Lake Fault which transects the property from west to east. The 90 kilometer long, east west trending Beardmore-Geraldton gold camp has already produced an estimated 4.1 million ounces of gold (please see the Technical Report) and has seen very little exploration in the past 20 years.

Over the past couple of years, the ground surrounding the Ontex claims has been almost completely staked by junior mining companies.

The data herein and the contents of this news release have been reviewed by John P. Thompson, P.Eng, Chief Operating Officer of Ontex, who is a Qualified Person within the meaning of NI 43-101, with the ability and authority to verify the authenticity and validity of the data. Armen Chilian P.Geo., Vice-President of Exploration for Ontex, is the Qualified Person who planned and is executing the exploration program for Ontex.

The drill core was logged and split on site and half-core samples analyzed employing the appropriate gold fire assaying techniques at Swastika Laboratories Ltd., Swatika, Ontario. A QA/QC program of submitting blanks and duplicate samples to the lab as approved by Scott Wilson Roscoe Postle Associates was employed. Blank and duplicate check assays were well within acceptable limits.

We seek Safe Harbor.