Canamex Drilling Intersects 53.4 Metres Grading 1.84 g/tonne Au within 89.9 Metres Grading 1.21 g/tonne Au at Bruner Gold Pro...
June 25 2014 - 5:00AM
Marketwired
Canamex Drilling Intersects 53.4 Metres Grading 1.84 g/tonne Au
within 89.9 Metres Grading 1.21 g/tonne Au at Bruner Gold Project,
Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 25, 2014) -
Canamex Resources Corp. (the "Company")
(TSX-VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) is very pleased to
announce ongoing results from reverse circulation drilling at the
Bruner Gold Project located in Nye County, Nevada.
Historic Resource
Area*
RC Hole
B-1419
Reverse circulation drill hole B-1419, drilled at the historic
resource area* intersected 175 feet (53.4 metres) grading 0.054
oz/ton Au (1.84 g/tonne Au ) from 215-390 feet (65.5-118.9 metres)
depth, within an aggregate interval of 295 feet (89.9 metres) from
55-125 feet (16.8-38.1 metres) and 215-440 feet (65.5-134.1 meters)
grading 0.035 oz/ton (1.21 g/tonne) Au. This intercept connects
mineralized intervals drilled in holes B-1404C and B-1416 and
reported previously (Canamex press releases dated May 21 and June
10, 2014). The cross section displaying the drill hole results
demonstrates the gold mineralized zone trends to surface above the
reported intercepts. A plan view map will be posted to the web site
that displays the location of all holes drilled to date at the
historic resource area, along with a cross section displaying the
drill holes described in this release.
Mineralized intercepts in hole B-1419 are reported in the table
below:
Hole ID |
|
From-To (ft) |
Thickness (ft/m) |
oz/ton Au |
g/tonne Au |
Est. True Width |
B-1419 |
|
55-125 |
70/21.3 |
0.009 |
0.31 |
47/14.3 |
|
|
215-440 |
225/68.6 |
0.043 |
1.49 |
150/45.7 |
|
Incl. |
215-390 |
175/53.4 |
0.054 |
1.84 |
117/35.6 |
RC Hole
B-1418
Reverse circulation drill hole B-1418 was drilled below hole
B-1419, and intersected the mineralized zone about 75 feet below
the reported intercept in hole B-1419. Hole B-1418 intersected
multiple mineralized zones totaling 250 feet grading 0.024 oz/ton
(76.2 metres grading 0.82 g/tonne) as reported in the table
below:
Hole ID |
|
From-To (ft) |
Thickness (ft/m) |
oz/ton Au |
g/tonne Au |
Est. True Width |
B-1418 |
|
80-100 |
20/6.1 |
0.026 |
0.90 |
13.4/4.1 |
|
|
135-140 |
5/1.5 |
0.031 |
1.05 |
3.35/1.0 |
|
|
185-210 |
25/7.6 |
0.016 |
0.56 |
16.8/5.1 |
|
|
240-420 |
180/54.9 |
0.021 |
0.73 |
121/36.8 |
|
|
440-460 |
20/6.1 |
0.015 |
0.50 |
|
On the section containing these two holes, the main mineralized
zone is approximately 210 feet (64.0 metres) wide, 320 feet (97.6
metres) thick, and lies within 20 feet of surface.
The Main Mineralized Zone of the historic resource area* remains
open along strike to the north and is largely untested by drilling.
Work is underway to assess the best access to drill stations to
continue drilling the northern extension of this mineralized
zone.
The assay results reported corroborate our interpretation that
there is a higher grade interior zone within the historic resource
area* that has not been fully defined or adequately tested by
historic drilling. The entire main mineralized zone lies at very
shallow depths below the surface, making it readily amenable to
open pit mining. Many historic drill holes penetrated beneath the
main mineralized zone and failed to intersect this shallow zone.
With ongoing drilling of this exciting mineralized zone we continue
to advance our understanding of the host geology and the
distribution of gold at Bruner. Once this additional drilling is
completed we should have enough detailed information to quantify
the historic resource* under NI 43-101 standards for reporting
purposes.
Drill hole samples are stored on site and are retrieved by ALS
Minerals personnel or an independent contractor and transported in
their custody to the ALS Minerals laboratory in Reno/Sparks,
Nevada, where they were photographed, sawed, sampled, and analyzed
by ALS Minerals laboratory for gold and silver. Duplicates, blanks,
and standards were inserted at regular intervals for QA/QC
purposes. All drill samples are prepared by crushing the entire
sample to 70% passing 2mm size, splitting out 1 kilogram of sample
and pulverizing this split to 85% passing -75 microns in size. From
the 1 kilogram pulp 30 grams is split out for fusion and fire assay
with an AA finish. If results return greater than 3 g/tonne Au
another 30 gram split is re-run by fusion and fire assay with a
gravimetric finish. Greg Hahn, President and interim CEO and a
Certified Professional Geologist (#7122) is the Qualified Person
under NI43-101 responsible for preparing and reviewing the data
contained in this press release.
* The historic resource area refers to an area on the Bruner
property that was the subject of a historical resource estimate
reported on the property reported in a press release by Miramar
Mining Company in 1993 and is not in compliance with NI 43-101
standards. The non-compliant resource estimate was done by industry
professionals in accordance with standard industry practices
prevalent at the time, and is believe to be reliable, but with no
assurances as to how much of the resource would qualify as
measured, indicated, or inferred under current industry reporting
standards. A qualified person (within the meaning of NI 43-101) has
not done sufficient work to classify the historical estimate as
current mineral resource or mineral reserves, and the Company is
not treating the historical estimate as current mineral resources
or mineral reserves. The historical estimate is relevant solely for
purposes of directing target areas for the Company's current
exploration programs.
ON BEHALF OF THE BOARD
Greg Hahn, Interim CEO and President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements:
This news release includes certain forward-looking statements or
information. All statements other than statements of historical
fact included in this release are forward-looking statements that
involve various risks and uncertainties. Forward-looking statements
in this news release include statements in relation to the timing,
cost and other aspects of the planned 2014 drilling program on the
Bruner property; the potential for establishing a NI 43-101 mineral
resource estimate; the potential mineralization and geological
merits of the Bruner property; and other future plans, objectives
or expectations of the Company. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from the Company's plans or expectations include
the risk that actual results of current and planned exploration
activities, including the results of the Company's planned 2014
drilling program(s) on the Bruner property, will not be consistent
with the Company's expectations; the geology, grade and continuity
of any mineral deposits and the risk of unexpected variations in
mineral resources, grade and/or recovery rates; fluctuating metals
prices; possibility of accidents, equipment breakdowns and delays
during exploration; exploration cost overruns or unanticipated
costs and expenses; uncertainties involved in the interpretation of
drilling results and geological tests; availability of capital and
financing required to continue the Company's future exploration
programs and preparation of geological reports and studies; delays
in the preparation of geological reports and studies; the
metallurgical characteristics of mineralization contained within
the Bruner property are yet to be fully determined; general
economic, market or business conditions; competition and loss of
key employees; regulatory changes and restrictions including in
relation to required permits for exploration activities (including
drilling permits) and environmental liability; timeliness of
government or regulatory approvals; and other risks detailed herein
and from time to time in the filings made by the Company with
securities regulators. In connection with the forward-looking
information contained in this news release, the Company has made
numerous assumptions, including that the Company's 2014 exploration
programs will proceed as planned and within budget. The Company
expressly disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new
information, future events or otherwise, except as otherwise
required by applicable securities legislation.
Canamex Resources Corp.Greg HahnInterim CEO and President(720)
244-2022Renmark Financial Communications Inc.Robert Thaemlitz(514)
939-3989 or (416) 644-2020rthaemlitz@renmarkfinancial.comRenmark
Financial Communications Inc.Henri Perron(514) 939-3989 or (416)
644-2020hperron@renmarkfinancial.comwww.renmarkfinancial.com
Canamex Gold (CE) (USOTC:CNMXF)
Historical Stock Chart
From Nov 2024 to Dec 2024
Canamex Gold (CE) (USOTC:CNMXF)
Historical Stock Chart
From Dec 2023 to Dec 2024