This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:AuEx buys Basti, options Baza to Western Uranium 2009-10-14 09:22 ET - News Release Mr. Richard Bedell reports AUEX SIGNS BAZA PROJECT EARN IN AGREEMENT: NEW IRON OXIDE COPPER GOLD DISTRICT IN SPAIN AuEx Ventures Inc. has purchased Basti Resources SL and has executed an exploration earn-in agreement with Western Uranium Corp. In 2006, AuEx entered into a grub stake agreement with experienced geologists in which initial sampling of an old iron district in Spain yielded samples up to 12 grams per tonne gold. Further work ensued and the underlying geologists organized Basti, a Spanish limited liability corporation, to acquire land in the Baza area of interest. Subsequently, two rounds of regional stream sediment sampling, remote sensing, rock chip sampling and considerable prospecting on foot exposed a large area of siderite-albite veining. Specific areas have a significant copper-gold tenor and samples up to 20 g/t Au and 10 per cent copper have been found. Areas with multikilometre strike length have consistently greater than 0.3 per cent copper and multigram gold. The mineralization appears to be a type of iron-oxide-copper-gold (IOCG) deposit. Currently, an extensive ground magnetics program is under way. The remainder is available to Stockwatch subscribers.
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