Mar 10 2014
Canamex Resources Corp. (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
Source: http://www.canamex.us/