Canamex Acquires Additional Patented Claim (Private Land) & Provides Drilling Update at Bruner Gold Project, Nye County, Nevada
24 Marzo 2014 - 6:00AM
Marketwired
Canamex Acquires Additional Patented Claim (Private Land) and
Provides Drilling Update at Bruner Gold Project, Nye County, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 24, 2014) -
Canamex Resources Corp.
(TSX-VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) (the "Company") is
pleased to announce it has closed on the purchase of an additional
20-acre patented mining claim (private land) at the Bruner gold
project located in Nye County, Nevada.
Elk Lode Patent
The 20-acre Elk Lode patented claim was purchased to complement
the patented and unpatented land covered in the option to purchase
agreement under which the Company is earning its interest at Bruner
(see Canamex News Release dated October 15, 2010). The Elk Lode
claim was identified during a due diligence land search and lies
nearly adjacent to the existing patented land package at the
property. Altogether the patented (private) land position totals
approximately 500 acres, and includes the historic resource area*
where drilling is currently underway to provide sufficient modern
drill hole data to allow preparation of a maiden NI 43-101 report
on the gold mineralization contained therein.
Engineering Studies
The Company has commenced engineering studies on portions of the
patented claim group. Once sufficient drilling of the historic
resource area is completed to allow preparation of a maiden NI
43-101 report, the Company will be in a position to address
permitting the project for development. Doing the engineering
studies in parallel with completing drilling of the historic
resource area may shorten the timeframe to development, should a
decision be made to advance the project to the development
stage.
Drilling Update
The first core hole (B-1401C) at the historic resource area has
been completed and delivered to ALS Minerals in Reno, Nevada for
photographing, sawing, sampling and analyses. Results will be
reported after they have been received and analyzed. Drilling of
the planned 53 hole program (see Canamex News Release dated March
7, 2014) is proceeding on a two-week on, one-week off schedule.
President & COO Comments
"We are pleased to have concluded the purchase of the Elk
Patent, which we have been pursuing for over six months, as it
offers the Company more flexibility as it contemplates how best to
develop the property down the road," said Greg Hahn, President and
COO. "We have initiated engineering studies on the Bruner property
in parallel with drilling of the gold mineralization, in order to
be in a position to advance the project rapidly in the event our
drilling continues to be successful and financial markets and gold
prices are favorable," concluded Hahn.
Greg Hahn, Certified Professional Geologist (#7122) is the
Qualified Person who has prepared and reviewed this press release
in accordance with NI 43-101 reporting standards.
*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
SIGNED: Robert Kramer, Chairman and CEO
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.Robert KramerChairman and CEO(604)
828-0067www.canamex.us
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