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SGX Resources Two Diamond Drill rigs currently drill in and around Timmins North Tully Deposit

May 21, 2013

 

SGX Resources Inc. (TSXV: SXR) has been operating since December 2009 and is currently undertaking exploration programs on two properties, Timmins North in Tully Township and Timmins South in Sothman Township. The company also holds a 31.5% stake in the highly prospective Davidson-Tisdale property.

The Timmins North or Tully deposit has a known length of over 600 meters and remains open in all directions, strikes in an east-west direction and dips steeply to the north. The deposit has not been fully delineated, and has now been drill tested to depths of 500 meters below surface.

The Tully deposit is now interpreted to be a series of shallow dipping (extensional or ladder) stacked vein sets within a subvertical competent mafic tuff host that is bounded by ultramafic volcanic rocks to the south and sediments to the north.

Two diamond drill rigs are currently drilling in and around the Timmins North or Tully deposit with over 100 drill holes representing approximately 30,000 meters of drilling having been completed by SGX to date. This property is located within the Tully Township, east of the Kidd Creek mine and immediately to the north of Timmins, ON.

The Tully Project is a 50/50 joint venture with San Gold Corporation (TSX: SGR). The Timmins South project is currently focussed on the Edleston Zone, located in the northwestern portion of Sothman Township. The zone has been extended to more than 400 metres along strike and to a depth of more than 200 metres.

SGX Resources has undertaken an extensive diamond drilling program on the Timmins South property in Sothman Township since September of 2011 as a follow-up to geophysical targets with the objective of locating near-surface gold deposits. This land package is located approximately 60 km to the south of Timmins, Ontario, between the Young-Davidson mine to the east and the Cote Lake deposit to the west.

Regionally, this property appears to lie along the potential western extension of the Cadillac- Larder fault zone along which a number of major gold deposits are located. More than 75 drill holes have been completed to date along 50 metre spaced sections, outlining a mineralized zone approximately 100 metres wide and over 700 metres long to a maximum depth of 250 metres while the zone continues to remain open in all directions.

You can find out more information about SGX Resources Inc. at www.sgxresources.com.