Canamex Drilling Intersects 47.3 Metres Grading 1.5 g/tonne Au Within 114.3 Metres Grading 0.87 g/tonne Au at Bruner Gold Pro...
June 10 2014 - 5:58PM
Marketwired
Canamex Drilling Intersects 47.3 Metres Grading 1.5 g/tonne Au
Within 114.3 Metres Grading 0.87 g/tonne Au at Bruner Gold Project,
Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 10, 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-1414
Reverse circulation drill hole B-1414, drilled at the historic
resource area* intersected 155 feet (47.3 metres) grading 0.044
oz/ton Au (1.5 g/tonne Au ) from 160-315 feet (48.8-96.0 metres)
depth, within an interval of 375 feet (114.3 metres) from 20-395
feet (6.1-120.4 metres) grading 0.025 oz/ton (0.87 g/tonne) Au. The
intercept demonstrates that the gold zone comes to surface at this
location of the main mineralized zone, which is corroborated by
surface sampling along the trace of this drill hole. 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-1414 are reported in the table
below:
Hole ID |
From-To (ft) |
Thickness (ft/m) |
oz/ton Au |
g/tonne Au |
B-1414 |
20-395 |
375/114.3 |
0.025 |
0.866 |
|
Incl. |
160-315 |
155/47.3 |
0.044 |
1.500 |
|
Incl. |
240-245 |
5/1.5 |
0.373 |
12.80 |
RC Hole
B-1415
Reverse circulation drill hole B-1415 was drilled above hole
B-1414, and intersected the mineralized zone about 75 feet above
the 240-245 feet intercept in hole B-1414. Hole B-1415 intersected
multiple mineralized zones totaling 90 feet grading 0.014 oz/ton
(27.4 metres grading 0.49 g/tonne) as reported in the table
below:
Hole ID |
From-To (ft) |
Thickness (ft/m) |
Grade oz/ton Au |
Grade g/tonne Au |
B-1415 |
25-45 |
20/6.1 |
0.011 |
0.365 |
|
120-155 |
35/10.7 |
0.019 |
0.665 |
|
170-205 |
35/10.7 |
0.013 |
0.452 |
On the section containing these two holes, the main mineralized
zone is approximately 150 feet (45.7 metres) wide, 350 feet (106
metres) thick, and lies immediately below the surface.
RC Hole
B-1416
Reverse circulation drill hole B-1416, drilled at the historic
resource area* intersected 375 feet (114.3 metres) grading 0.029
oz/ton Au (1.00 g/tonne Au ) from 50-425 feet (15.2-129.6 metres)
depth, including an interval from 320-325 feet (97.6-99.1 metres)
grading 0.90 oz/ton (30.9 g/tonne) Au.
Mineralized intercepts in hole B-1416 are reported below:
Hole ID |
From-To (ft) |
Thickness (ft/m) |
oz/ton Au |
g/tonne Au |
B-1416 |
50-425 |
375/114.3 |
0.029 |
1.00 |
|
Incl. |
320-325 |
5/1.5 |
0.901 |
30.9 |
RC Hole
B-1417
Reverse circulation drill hole B-1417 was drilled above hole
B-1416, and intersected the mineralized zone about 80 feet above
the 320-325 feet intercept in hole B-1416. Hole B-1417 intersected
multiple mineralized zones totaling 230 feet grading 0.016 oz/ton
(70.12 metres grading 0.55 g/tonne) as reported in the table
below:
Hole ID |
From-To (ft) |
Thickness (ft/m) |
Grade oz/ton Au |
Grade g/tonne Au |
B-1417 |
35-45 |
10/3.0 |
0.050 |
1.72 |
|
115-130 |
15/4.5 |
0.040 |
1.36 |
|
200-310 |
110/33.5 |
0.014 |
0.46 |
|
335-385 |
50/15.2 |
0.012 |
0.40 |
|
405-450 |
45/13.7 |
0.010 |
0.35 |
On the section containing B-1416 and B-1417 the main mineralized
zone is approximately 210 feet (64.0 metres) wide, 350 feet (106
metres) thick, and lies immediately below the surface. RC drilling
continues on adjacent sections, targeting two inclined holes per
section, to further define this portion of the historic resource
area* and determine the strike length of this main mineralized
zone.
The results reported above corroborate our interpretation that
there is a high-grade interior zone within the historic resource
area* surrounded by a lower grade halo that has not been fully
defined or adequately tested by historic drilling. The entire main
mineralized zone lies at very shallow depth below the surface,
making it readily amenable to open pit mining. Many historic drill
holes went 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, which should
allow us to quantify the historic resource* under NI 43-101
standards for reporting purposes after sufficient drilling has been
completed.
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
the1 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 not in compliance with NI 43-101
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)
244-2022www.canamex.usRenmark 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