Tue May 17, 2005 Acrex - Moneta JV Confirms and Expands Michaud Gold Zone, Timmins, Ontario
Acrex Ventures Ltd. ("Acrex") and Moneta Porcupine Mines Inc. ("Moneta") are pleased to report results from the recently completed 6 hole, 2,142m drill program in the "55 Zone" on their Joint Venture Michaud Township gold property near Timmins, Ontario.
Table of drill holes results: www3.sympatico.ca
To date only 18 drill holes have been completed in the "55 Zone" with significant gold mineralized intervals reported previously (see news release of March 16, 2005). The recent drilling intersected multiple zones of gold mineralization in most holes with exceptional intersections noted in four holes.
The highlights of the current drill results were:
11.23g/t gold over 1.70 metres in hole MA-05-27
5.81g/t gold over 7.40 metres in hole MA-05-30
10.90g/t gold over 2.00 metres in hole MA-05-31
9.04g/t gold over 5.90 metres in hole MA-05-32
Drill holes MA-05-27, 28, 29 and 30 were designed to step-out and undercut the MA-04-25 intercept of 12.76 g/t Au over 4.30m within 11.50m of 5.86 g/t Au while holes 31 and 32 completed sections to the east.
MA-05-27 was drilled 30m to the east of MA-04-25 on the section defined by drill holes MA-02-06 which returned
4.81 g/t Au over 12.0m within 7.54 g/t Au over 6.50m and hole MN96-174.
Hole MA-05-27 intersected
2.02 g/t Au over 8.00m
with values up to 4.82 g/t Au over 0.50m of similar styled mineralization.
An additional lower intercept returned
3.22 g/t Au over 4.80m
including 5.17 g/t Au over 2.10m.
On the same section MA-05-29 was collared south of MA-02-06 but turned easterly intersecting alteration without significant gold except at the footwall contact to the ultramafics.
MA-05-28 completed a section with MA-03-11 some 30m west of MA-04-25 intersecting 3.11 g/t Au over 4.00m
including 13.2 g/t Au over 0.50 m.
MA-05-30 drifted westerly from the MA-04-25 section giving a 20m step-out intercept of:
8.99 g/t Au over 4.50m
within a 7.40m alteration zone averaging 5.81 g/t gold.
Similarly, MA-05-31 completed a section with MA-03-10x intersecting several narrow but higher grade zones including 21.66 g/t Au over 0.90 m.
Ma-05-32 was drilled on section with hole MN97-195 intersecting 9.04 g/t Au across 5.90 metres including a 0.80 metre section of visible gold that assayed 58.58 g/t.
This drill program has significantly enhanced the potential of the "55" Zone by adding 6 new drill holes to the existing 100ft (30m) sections.
The results of the program are currently being modelled to determine the relationship of the intersections to the intercepts seen in previous holes such as MA-02-06 and MA-04-25.
The results of the current drill program as well as the results of all previous holes are summarized in the following table. The tabled results are given over drilled widths that reflect a wide range of vein, stringer vein and vein stock work orientations. The results include gold metallic assays as numerous occurrences of visible gold were noted.
Additional drilling is planned for the "55 Zone" with hole locations determined by the results of the current three dimensional modelling program. The drill program is managed by Moneta with P.Caldbick, P.Geo., and R.Skeries, P.Geo., acting as "Qualified Persons" for the purpose of National Instrument 43-101.
Investor Relations
Tel: 604-277-1752
Fax: 604-687-4212
info@acrexventures.com
acrexventures.com
ACREX VENTURES LTD.
Per:
T.J. Malcolm Powell,
President
The TSX Venture Exchange does not accept responsibility for the inadequacy or inaccuracy of this Release.
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