Tiex Inc.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | Suite 307 - 1500 Hardy Street Kelowna, British Columbia Canada V1Y 8H2 |
|
| Tel No.: | (250) 869-1607 | |
| Fax No.: | (250) 868-0798 | |
| Toll Free No.: | 1-855-862-3080 | |
| Web Site: | www.tiexinc.com | |
| Corporate Email: | tom@tiexinc.com | |
| Contact Person: | Tom Martin (or) | CFO |
| Position: | Ken Faulkner | President & CEO |
| Traded Market: | TSX-V |
| Traded Symbol: | TIX |
| Outstanding Shares: | 35,494,078 |
| Public Float: | 33,339,578 |
| 52 Week High: | $ 0.31 |
| 52 Week Low: | $ 0.035 |
| Present Price: | Click Here |
INTRODUCTION
Tiex Inc. is a Kelowna based mineral exploration and development company, focused on the exploration of its 100%-owned 95,559 hectare Cariboo Goldfields Project, (including the earn-in option/joint venture agreement with Newmont Canada Corporation announced in the Company's April 27, 2011 news release) located in the prolific Quesnel Trough area of central British Columbia, Canada.
PROJECT IN HAND
Cariboo Property, Cariboo Mining District, Central British Columbia
Tiex's 100%-owned Cariboo Property is a non-contiguous claim package comprised of 85 claims covering a total area of about 95,559 hectares. The Property is in the Cariboo Mining District in central British Columbia, adjacent to the village of Likely about 60 km northeast of the community of Williams Lake. The property is accessible by highway and logging roads year round. This land package occurs within the prolific Quesnel Trough, a highly prospective mineral belt that hosts several copper-gold-molybdenum porphyry and sedimentary hosted gold deposits.
Tiex's mineral tenures cover most of the undivided sedimentary unit of Nicola Group (Mesozoic) which lies along the Quesnel Trough geological formations. This terrane is also perspective for volcanoclastic hosted hydrothermal gold vein systems and gold rich copper porphyry deposits.
Summary Description
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100%-owned properties consisting of 95,559 hectares
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Located within the prolific Quesnel Terrane
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Close to existing operating mines
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A mining friendly jurisdiction with infrastructure
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Low elevation terrain, moderate topography
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Well maintained network of roads throughout the Property
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Favourable year-round climate
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Inexpensive hydro-electricity available
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Search strategic alliance with major mining companies for porphyry targets
Cariboo Property: Gold Projects
Gold Creek Project
The Gold Creek property near Likely is a pure gold exploration project with excellent location, infrastructure within a mining friendly jurisdiction and close to existing operating mines.
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8 km along strike from Spanish Mountain Gold Ltd.'s reported Spanish Mountain gold deposit which has a NI 43-101 compliant resource estimate of 3.9 million ounces of gold contained (at a 0.30 g/t Au cut-off grade) in the measured and indicated resource categories
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Numerous conventional geochemical and MMI (Mobile Metal Ion) gold anomalies over a 12 km strike length
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Drill results comparable to results obtained in early stage exploration at Spanish Mountain Gold 8 km away
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Active placer operation at Likely, mining near surface bedrock on Tiex mineral claims
McKaygold
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Reconnaissance MMI soil sampling was carried out during the 2008 exploration season
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McKaygold soil gold anomaly appears to occur along strike with Eureka Resources Inc's Frasergold sedimentary hosted gold deposit
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In 2011 a 382 line kilometre helicopter-borne DIGHEM frequency domain electromagnetic and magnetic survey has been completed
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Gold Creek Project
– 2008 Diamond Drilling Assay Results |
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Drill Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t)* |
|
GC08-01 |
10.34 |
96.02 |
85.68 |
0.55 |
|
GC08-02 |
4.57 |
104.55 |
99.98 |
0.31 |
|
GC08-03 |
2.74 |
67.67 |
64.93 |
0.27 |
|
GC08-04 |
7.01 |
81.69 |
74.68 |
0.41 |
|
GC08-05 |
6.1 |
108.2 |
102.1 |
0.32 |
|
GC08-06 |
24.69 |
263.07 |
238.38 |
0.24 |
*Core recovery from 2008 drilling was poor especially with gold mineralized zones
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Gold Creek Project
– 2010 Sonic Drill Highlights |
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Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t)* |
|
GC10-02 |
3.9 |
6.2 |
2.30 |
0.96 |
|
|
20.12 |
102.4 |
82.29 |
0.54 |
|
Incl. |
20.12 |
36.76 |
16.64 |
0.93 |
|
Incl. |
68.88 |
70.38 |
1.50 |
1.02 |
|
Incl. |
78.03 |
83.37 |
5.34 |
1.45 |
|
Incl. |
100.82 |
102.41 |
1.59 |
3.01 |
*GC10-01 was abandoned at 30.5 m.
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Diamond vs. Sonic Drill Results |
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Twin hole GC10-02 returned
~150% higher Au assay results versus the nearly identical interval in
GC08-03. |
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Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
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Diamond Drilling (2008) |
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GC08-03 |
2.74 |
67.67 |
64.93 |
0.27 |
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Sonic Drilling (2010) |
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|
GC10-02 |
3.9 |
67.36 |
63.46 |
0.40 |
Hole GC10-02 has increased the grade (g/t) from the 2008 results due to the increase drill core recovery of the Sonic Drilling Method.
Cariboo Property: Copper Porphyry Projects
Viewland Project
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Primary copper exploration target
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3.5 sq.km aeromagnetic high
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Coincident >100 ppm Cu in soil anomaly
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Reconnaissance MMI soil geochemical survey conducted by Tiex confirmed that a 700 x 2,200 m and a 900 x 2,700 m area are highly anomalous in copper
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Undrilled target
Jack Project
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5 km long Cu in MMI anomaly
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Coincident aeromagnetic high
Corey Project
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Area of known gold/copper alkalic porphyry showing
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7 km long Cu in MMI anomaly
Jamboree, Elbow Lake and Bosk Lake Projects
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Several copper MMI and conventional soil anomalies
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Associated aeromagnetic anomalies
Bullion Area
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Gold/copper porphyry discoveries have attracted both Gold Fields and Newmont to this area
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Underlain by Takomkane Batholith and Nicola Group sedimentary rocks
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Property adjoins the Woodjam JV/Gold Fields property
MANAGEMENT
On January 19, 2012, Tiex Inc. announces results from drilling on Viewland project in British Columbia. Highlights from the drilling include:
On January 6, 2012, Tiex Inc. announced that it received final acceptance from the TSX Venture Exchange on January 5, 2012, for filing documentation with respect to the Company's non-brokered private placement announced November 9, 2011. In addition, the Company has granted to directors and employees of the Company options to purchase one million common shares at an exercise price of 12 cents per share, which options will expire on January 5, 2017
On December 29, 2011, Tiex Inc. announced that it has closed the non-brokered private placement announced on November 9, 2011. The private placement consisted of the sale of four million common share units at 10 cents per unit ($400,000) and 801,334 flow-through units at 12 cents per FT unit ($96,160) for gross proceeds to the Company of $496,160.
On November 9, 2011, Tix Inc. announced it intends to complete a non-brokered private placement offering of up to five million units at a price of 10 cents per unit for total gross proceeds of up to $500,000 and up to 8,333,334 units of flow-through at a price of 12 cents per flow-through unit for total gross proceeds of up to $1-million.
On November 4, 2011, Tiex Inc. provided the third update on the exploration work on its Gold Creek and Horsefly properties in the Quesnel Trough area in British Columbia. The pilot diamond drilling project on Gold Creek has now been completed. The drill permit for the 2,000 metres of reverse circulation drilling on the Viewland project has been issued, and the drill program is currently under way.
On October 3, 2011, Tiex Inc. provided the second update of the exploration work on its Gold Creek and Horsefly properties in British Columbia. Diamond drilling will start on October 4, with reverse-circulation (RC) drilling starting approximately October 21 once the diamond drilling is completed. The drilling program will consist of 7,000 metres on the Gold Creek project and 2,000 m on the Viewland (Horsefly property) project.
On July 29, 2011, Tiex Inc. announced that the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement for Tiex Inc. announced July 27, 2011:
On July 22, 2011, Tiex Inc. released an update of its exploration work that the Company has initiated on its Horsefly property in the Quesnel Trough area of central British Columbia.
On June 27, 2011, Tiex Inc. announced that it has started the 2011 exploration season on its Quesnel Trough property in central British Columbia. Tiex has started a multifaceted exploration program on its Gold Creek, Cedar-Louis and Horsefly properties. Fieldwork during the summer will consist of geological mapping, prospecting, geochemical soil sampling and induced-polarization surveys which will set up the drilling phase of the 2011 program in the fall of 2011. The fall drilling program will test the extents of known gold mineralization and numerous geophysical, geochemical and geological targets developed on the Gold Creek Property and test the porphyry copper-gold Viewland Project on the Horsefly Property.
On June 9, 2011, Tiex Inc. announced that its partner Newmont Canada Corporation has completed an airborne magnetic survey on the Company's Bullion claims that are under the option agreement with Newmont and the data is now in the interpretive stage.
Management and Directors
Ken Faulkner, President & CEO, Director
Mr. Faulkner has in excess of 30 years experience working in capital markets in a number of different capacities. As a broker, he worked for firms such as Burns Fry, First Commonwealth Securities and Canaccord Capital. During his tenure in the brokerage business, he financed public and private companies in diverse industries.
Thomas J. Martin, B.Comm., Chief Financial Officer, Director
Mr. Martin has 35 years experience in financial and operational senior management with companies in various industries. This includes CEO of Chief Issac, Inc. and Senior Vice President of Finance and Administration of White Pass and Yukon Corporation.
Dr. Scott Jobin-Bevans, Ph.D., B.Sc. (Hons), M.Sc., P. Geo., Chairman of the Board, Director
Dr. Jobin-Bevans is the former President and Director of Treasury Metals Inc. and the Director and Founding Partner of Caracle Creek International Consulting Inc. Presently he is the President of the Prospectors & Developers Association of Canada (PDAC).
Wade Black, MBA, Director
Mr. Black is the President of Blackberry Fund Management, Inc. He has more than 15 years of experience managing operations for broker-dealers and investment advisory firms. He, along with his partners, founded Scarsdale Equities LLC in 2005.
Terry Severs, Director
Mr. Severs has over 35 years experience in corporate development, finance and investor relations. Mr. Severs is the CEO of a private mining company, Double Crown Ventures Ltd.
Advisory Committee
Stephen Wetherup, B.Sc., P.Geo.
Mr. Wetherup is an operating manager and partner of Caracle Creek International Consulting Inc. Caracle Creek International Consulting Inc. is an independent firm of professional geological, engineering and mining consultants with offices in Canada (Sudbury, Toronto and Vancouver) and South Africa (Johannesburg). Stephen has extensive experience in the mineral exploration industry working for private and public exploration and mining companies. For the last ten years by managing projects in the Quesnel Trough area he has gained experience second to none in this area.
NEWS UPDATE
Number of shares: 545,454 non-flow-through shares; 5,384,614 flow-through shares
Purchase price: 11 cents per non-flow-through share; 13 cents per flow-through share
Field crews have begun geological mapping, prospecting and establishing exploration grids for soil sampling and induced polarization surveying on its Horsefly property. Work has started on the Viewland, Elbow Lake and Corey areas.