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Canamex Resources Corp.
Summary
| Project: | Bruner | |
|---|---|---|
| Deposit: | Paymaster | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 8/22/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-8-2017: Canamex Resources Corp. announces an Exploration/Drilling Update report for its Paymaster deposit at the Bruner project. Drilling results incl. 60.98m @ 1.224g/t Au from 187.4m. (August 22, 2017) Canamex Resources Corp. (“Canamex”) (TSX-V: CSQ) | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Greg Hahn (Internal) | |
| ABSTRACT: | (August 22, 2017) Canamex Resources Corp. (“Canamex”) (TSX-V: CSQ) (OTCBB: CNMXF) (FSE: CX6) is pleased to provide assay results from the summer drilling campaign at the Bruner gold project in Nye County, Nevada. All eight holes drilled to test open extensions of the gold zones between two preliminary sub-pits of the current Penelas resource area intersected gold across mineable widths above the cut-off grade referenced in the Company’s PEA reported in May 2016. The best intercept is in hole B-1708 and contains 200 feet (61 metres) from 615-815 feet (187.5-248.5 metres) of 1.224 gpt Au and 8.38 gpt Ag (1.287 gpt Au (eq) using $1280 Au price and $17 Ag price). All the intercepts are presented in the table below. The average total intercept of all eight holes drilled is 221 feet (67.4 metres) grading 0.679 gpt Au and 4.32 gpt Ag (0.736 gpt Au(eq)). The eight holes drilled at the Penelas resource area cover an area of approximately 200 metres by 150 metres located mostly in the data gap between the two preliminary sub-pits as outlined in the Company’s PEA. This area was identified as having a high probability of containing gold that could be added to the resource inventory with additional drilling. The success of this drilling program should allow for expansion of the resource at Penelas when resources are re-calculated next. The true thickness of the 2017 intercepts is currently undetermined, pending a thorough review of the geology and the relationship between lithologies, structure, and the intercepts reported herein. The results of this summer’s drilling program clearly demonstrate the ability of the company to continue to intersect significant gold outside of the current resource base, which should allow for expansion of the resource with continued drilling and revisiting the resource calculations at the appropriate time. Greg Hahn, President and COO and a Certified Professional Geologist (#7122) is the Qualified Person under NI43-101 responsible for preparing and reviewing the data contained in this press release. | |
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