Canamex Commences Diamond Drilling at the Bruner Gold Project, Nye County, Nevada
07 Marzo 2014 - 7:00AM
Marketwired
Canamex Commences Diamond Drilling at the Bruner Gold Project, Nye
County, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 7, 2014) -
Canamex Resources Corp. (TSX-VENTURE:CSQ) (OTCQX:CNMXF)
(FRANKFURT:CX6) (the "Company") is pleased to announce that it has
commenced diamond drilling at its Bruner gold project located in
Nye County, Nevada.
The 2014 drilling
program will consist of approximately 1000 metres (3280 feet) of
core drilling and 9000 metres (29,500 feet) of reverse circulation
("RC") drilling. Core drilling will start with an offset of the
last RC hole drilled in 2013, B-1340, which penetrated the
interpreted "feeder zone" of the historic resource area and
intersected 57.9 metres of 5.23 gpt gold (190 feet at 0.155 opt
gold), before losing circulation in a fracture zone while still in
mineralized material (see Canamex News Release dated November 5,
2013). A total of 5 core holes and 24 RC holes are planned to test
this high-grade feeder zone in the historic resource area.
Drilling at the
Penelas East discovery area will focus on testing the prominent
VLF-EM current density and coincident gold-in-soil anomalies that
are similar, and appear to be extensions of, the prominent VLF- EM
current density anomaly that is coincident with the 38 gold-bearing
drill hole intercepts completed in 2012-2103 at the Penelas East
discovery area (see Canamex News Release dated October 25, 2013). A
total of 24 holes are planned in the Penelas East discovery area,
one or two of which will be drilled as core for geologic
control.
Plan maps showing
the proposed drill hole locations at both deposit areas are posted
to the web site at the following link:
http://www.canamex.us/?page_id=709.
The Company is
embarking on the above-referenced 2014 exploration drilling program
at the Bruner Project upon closing of the recently announced
private placement (see News Release dated February 28, 2014). The
drilling program is expected to take six months to complete, and
cost approximately $1.75 million. The Company believes it is
sufficiently financed to carry out the subject drilling
program.
Canamex President
and COO Greg Hahn Comments:
"We are excited to
be able to recommence drilling at the Bruner gold project and to
follow-up on the exciting drill hole intercepts we encountered at
both the historic resource area and the Penelas East discovery area
in 2013. The drilling of the high-grade feeder zone at the historic
resource area has the potential to materially assist in the
assessment of the grade of any future NI 43-101 mineral resource
estimate on the property, as demonstrated by the positive impact
the results of drill hole B-1340 had on the average grade of the
intercepts on the section on which it was drilled. The drilling of
the extensive VLF-EM current density anomalies at the Penelas East
area has the potential to significantly increase the size of that
discovery area. In combination, the 2014 drilling program has the
potential to significantly advance our efforts in proceeding to
delineate our first National Instrument 43-101 mineral resource
estimate on the Bruner gold project."
Greg Hahn, President
& COO and a Certified Professional Geologist (#7122) is the
Qualified Person under National Instrument 43-101 ("NI 43-101")
responsible for preparing and reviewing the scientific and
technical information contained in this press release.
ON BEHALF OF THE
BOARD
Robert Kramer, CEO
and Director
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 KramerCEO and Director(604)
828-0067www.canamex.us
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