Nov 23 2010
Canamex Resources Corp. (TSX VENTURE:CSQ) has begun a program of reverse circulation drilling at its Bruner project located in central Nevada, 32km north of the Paradise Peak Mine and 68km northwest of the Round Mountain Mine.
A total of 11 holes totaling 1,525 meters are planned to test an area containing a historic resource. Canamex plans to hire an independent geologist to do a NI 43-101 compliant resource calculation once drilling is completed.
The drilling program will occur on patented claims in the vicinity of the July-Duluth mines. These mines, along with others in the district, have historic production of approximately 100,000 ounces at an average grade of 19.2 g/t gold, according to published reports. The Bruner gold/silver mineralization occurs as numerous sheeted or narrow quartz veins within a thick section of welded tuff. This setting is very similar to the Round Mountain mine. Round Mountain is an open pit, heap-leach mine that has produced over 10 million ounces of gold over a 30 year period, with the average grade currently being mined of only 0.62 g/t gold.
Study of the veins in the Bruner district show two primary vein directions: north-south, and north-west. Canamex has designed its program to drill perpendicular to the intersection of these two vein sets to more accurately record the density and true widths of the veins. It is hoped this will help prove the continuity of the mineralization.
Canamex has an option agreement with Provex Resources Inc., a Nevada corporation, to earn a 75% interest in the Bruner property. The property covers virtually all of the significant mines of the district, and consists of 98 unpatented and 21 patented mining claims covering a total of approximately 963 hectares (2,380 acres). Historic work by Morrison-Knudsen, Miramar, Glamis, Newmont, Kennecott and others have identified the resource Canamex is currently drilling, along with several other poorly tested gold/silver anomalies. Canamex will first determine the size and grade of the July-Duluth resource using NI 43-101 guidelines, and then test the other identified anomalies.
Richard Kern (P. Geol.), is the Company's qualified person on this project. Mr. Kern prepared the technical information contained in this news release.
Source: Canamex Resources Corp.