|By Marketwired .||
|August 7, 2014 06:00 AM EDT||
WEST VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/07/14 -- Carmax Mining Corp. ("Carmax") (TSX VENTURE: CXM) is pleased to announce an update on exploration and core re-logging activities and the commencement of the 2014 diamond drilling program on the Eaglehead property. SGS Canada Inc. located in Burnaby, British Columbia has been retained to complete the preliminary metallurgical test work on samples from the East and Bornite mineralized zones.
a. The first hole for exploration and metallurgical sampling purposes to obtain preliminary information on metal recoveries in the East zone is underway and currently at a depth of 485m, b. The second hole for exploration and metallurgical sampling purposes to obtain preliminary information on metal recoveries is planned for the Bornite zone, c. The results of the Titan-24 survey over the Pass, Camp, East, Bornite and Far East zones of mineralization (six km strike length) are expected before the end of August, d. The results for the recently completed airborne high sensitivity magnetic and radiometric survey is expected to be received before the end of August, and e. Four exploration holes (average 500m each) are planned to test of the extensions of East and Bornite zones as well as continuity of mineralization between the previously identified mineralized zone.
Jevin Werbes, President of Carmax commented, "We are pleased to have commenced the 2014 drilling program. The re-logging of historical drill holes located within the mineralized zones that were not included in the resource estimate has identified significant concentration of chalcopyrite, bornite and molybdenite over long sections of these holes that has never been sampled. The Quantec and airborne survey results should provide additional information on the potential length and width of the prospective mineralized zone".
The objectives of the diamond drilling program are to obtain samples for preliminary metallurgical testing purposes and to explore the lateral extensions and continuity of the mineralized zones outlined to date. The results of the Quantec survey, when received, will be used to aid in locating the four exploration holes planned in 2014.
Historical Drill Holes:
Diamond drilling programs completed since the 1960's have intersected copper mineralization over a 6 km strike length that cover both the known zones of mineralization and the areas between these zones. Re-logging of selected holes from these areas show that the historical drill holes were only sampled on a limited basis where visual estimates suggested the presence of higher grade copper mineralization which is confirmed by the assay records. Based on the re-logging completed in 2014, the presence of significant amounts of chalcopyrite, bornite and molybdenite have been observed in the un-sampled section of these historical drill holes. The review of the historical drill logs and re-logging of historical drill holes is continuing.
The re-logging of the historical drill core selected to date and review of drill logs from the other historical drill holes suggest that these individual zones of mineralization may form one large zone of mineralization.
About the Eaglehead Project:
The Eaglehead copper-molybdenum-gold-silver project (approximately 11,410 hectares (ha)) is located approximately 48 km east of Dease Lake, in the Liard Mining Division, northwestern British Columbia.The property hosts a 10 km long mineralized trend that hosts at least 7 zones of porphyry style copper-molybdenum-gold-silver mineralization hosted in potassic and phyllic altered intrusive rocks. A resources estimate pursuant to NI 43-101 prepared by RPA Inc. (see Carmax news release dated May 16, 2012) outlined a current Inferred Mineral Resource of 102.5 million tonnes at an average grade of 0.29% Cu, 0.010% Mo and 0.08 g/t Au. The report is filed on Sedar at www.sedar.com. The resource was estimated at a cut-off grade of 0.16% CuEq, to contain approximately 662 million pounds copper, 22 million pounds molybdenum, and 265,000 ounces gold.
Carmax is a Canadian company engaged in exploration for porphyry copper-gold-molybdenum deposits in northwestern British Columbia.
Chris M. Healey, P.Geo., a Director of Carmax, is a qualified person as defined in NI 43-101, and has reviewed and approved the technical information contained in this news release.
Jevin Werbes, 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.
Cautionary Statement on Forward-Looking Statement
Certain information contained in this news release, including information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward looking statements". Actual results may differ materially from those indicated by such statements. All statements, other than historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. 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.Forward-looking information in this news release includes statements about the exploration program at the Eaglehead project; the resource estimate at the Eaglehead project; and statements about Carmax's strategy, future operations and prospects.
In connection with the forward-looking information contained in this news release, Carmax has made numerous assumptions. While Carmax considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause Carmax's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the Quantec geophysical survey may not identify any targets or located additional mineralization or mineralization as favorable as suggested by the resource estimate; the concentrations of copper minerals observed in the historical drill core, if sampled may not yield significant concentrations of either copper or molybdenum; fluctuations in copper prices and demand; currency exchange rates; conditions in the financial markets and the overall economy may continue to deteriorate; uncertainties relating to interpretation of the previous drill results and the geology, continuity and grade of Eaglehead project; the need to obtain additional financing and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals.
A more complete discussion of the risks and uncertainties facing Carmax is disclosed in Carmax's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Carmax disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Carmax Mining Corp.
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., focused on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what do...
Feb. 6, 2016 08:00 AM EST Reads: 156
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
Feb. 6, 2016 07:45 AM EST Reads: 117
Father business cycles and digital consumers are forcing enterprises to respond faster to customer needs and competitive demands. Successful integration of DevOps and Agile development will be key for business success in today’s digital economy. In his session at DevOps Summit, Pradeep Prabhu, Co-Founder & CEO of Cloudmunch, covered the critical practices that enterprises should consider to seamlessly integrate Agile and DevOps processes, barriers to implementing this in the enterprise, and pr...
Feb. 6, 2016 07:30 AM EST Reads: 265
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
Feb. 6, 2016 07:30 AM EST Reads: 146
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Feb. 6, 2016 07:15 AM EST Reads: 119
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Feb. 6, 2016 05:00 AM EST Reads: 312
Most people haven’t heard the word, “gamification,” even though they probably, and perhaps unwittingly, participate in it every day. Gamification is “the process of adding games or game-like elements to something (as a task) so as to encourage participation.” Further, gamification is about bringing game mechanics – rules, constructs, processes, and methods – into the real world in an effort to engage people. In his session at @ThingsExpo, Robert Endo, owner and engagement manager of Intrepid D...
Feb. 5, 2016 09:00 PM EST Reads: 754
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
Feb. 5, 2016 04:00 PM EST
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
Feb. 5, 2016 04:00 PM EST Reads: 114
With microservices, SOA and distributed architectures becoming more popular, it is becoming increasingly harder to keep track of where time is spent in a distributed application when trying to diagnose performance problems. Distributed tracing systems attempt to address this problem by following application requests across service boundaries, persisting metadata along the way that provide context for fine-grained performance monitoring.
Feb. 5, 2016 03:45 PM EST Reads: 770
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
Feb. 5, 2016 03:00 PM EST
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Feb. 5, 2016 02:45 PM EST Reads: 104
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including clou...
Feb. 5, 2016 02:30 PM EST Reads: 695
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Feb. 5, 2016 01:30 PM EST Reads: 330
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
Feb. 5, 2016 01:30 PM EST Reads: 313