|By Marketwired .||
|June 10, 2014 05:58 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/10/14 -- 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(i)
RC Hole B-1414
Reverse circulation drill hole B-1414, drilled at the historic resource area(i) 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:
From-To Thickness oz/ton g/tonne Hole ID (ft) (ft/m) Au 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:
From-To Thickness Grade Grade Hole ID (ft) (ft/m) oz/ton Au 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(i) 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:
From-To Thickness oz/ton g/tonne Hole ID (ft) (ft/m) Au 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:
From-To Thickness Grade Grade Hole ID (ft) (ft/m) oz/ton Au 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(i) 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(i) 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(i) 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.
(i) 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.
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.
Interim CEO and President
Renmark Financial Communications Inc.
(514) 939-3989 or (416) 644-2020
Renmark Financial Communications Inc.
(514) 939-3989 or (416) 644-2020
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