Canamex Announces Channel Sampling Results at the Bruner Gold-Silver Project, Nye County, Nevada
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/05/12 -- Canamex Resources Corp. (TSX VENTURE: CSQ)(OTCQX: CNMXF)(FRANKFURT: CX6) is pleased to announce the results of channel sampling both underground and at surface immediately north of the historic resource at the Bruner gold-silver project, Nye County, Nevada. "We have received very encouraging channel sample results covering a previously unexplored area of Bruner," stated Chairman and CEO Greg Hahn. "When combined with the exceptional intercept in drill hole B-1115 (announced March 8, 2012) and the mid-June re-commencement of drilling on the high-grade Penelas East Vein (announced May 23, 2012), we believe we are poised to significantly increase shareholder value."
Channel samples were collected in the Bruner North adit and from the Derelict Mine open cut in late April and early May. Both sample areas are located north of the historic resource area, and are roughly 600 feet apart. The Derelict Mine area is located approximately 600 feet northwest of the historic resource area, and is the closer of the two to it.
The Bruner North adit is about 165 feet long. Channel sampling was done on 10 foot sample intervals, each sample weighing between 5-8 kilograms. The first 15 feet of the drift were not sampled. The gold values for samples from the Bruner North adit ranged from a low of 0.018 ppm Au to a high of 3.87 ppm Au, and average 0.446 ppm (0.013 opt) Au for the entire 150 feet sampled. Silver values range between 0.9 and 4.6 ppm Ag, and average 2.74 ppm Ag (0.08 opt Ag). The highest value of 3.87 ppm Au (0.13 opt Au) occurred near the end of the drift at 110-120 feet. Average gold equivalent grades are 0.014 opt Au (eq) for the entire interval sampled, using a gold:silver value ratio of 60:1.
The Derelict Mine open cut is located about 600 feet southwest of the Bruner North adit, where scraping to bedrock with a large dozer occurred in the past (1970s-1980s). A total of 200 feet of rock face was sampled on 10 foot sample intervals. Individual samples weighed 4-7 kilograms each. Gold values ranged from 0.052-2.34 ppm Au, and averaged 0.348 ppm Au (0.010 opt Au) for the entire 200 foot interval. Silver values ranged from 2.1-15.1 ppm Ag and averaged 6.69 ppm Ag (0.19 opt Ag). Average gold equivalent grades are 0.013 opt Au (eq) for the entire interval sampled.
One sample was taken from the Derelict Mine shaft dump, which appeared to represent brecciated vein material that was being mined. This sample contained 2.85 ppm (0.09 opt) Au and 126 ppm (3.68 opt) Ag. The Derelict shaft is inclined at -70 degrees to the east. There are no drill holes in the database that test this structure.
There are no drill holes that intersect either of these two channel sample areas. The only hole that comes close to the Derelict Mine open cut is historic drill hole BRU-052, which cut 50 feet of 0.38 gpt (0.011 opt) Au at the bottom of the hole between 370-420 feet. This hole appears to have not tested the mineralized zone in the open cut, which dips either vertically or steeply to the east, as does the Derelict Mine vein or structure.
The area between the two channel sample areas is covered by either culturally disturbed ground or transported soil, rendering soil sampling in the area problematic. This newly defined Bruner North area, located to the north of the historic resource area, will be targeted for future drilling in order to evaluate its potential for additional resources.
All samples were prepared and analyzed by ALS-Chemex Labs, Reno, Nevada. Samples were crushed to -6 mm, and a 1 kilogram split was taken and pulverized to 85% passing 75 microns. Gold was analyzed using a 30-gram fire assay with AA finish. Silver was determined using a four acid digestion. Standards, blanks, and duplicates were inserted at appropriate intervals, and all reported results within acceptable limits.
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.
ON BEHALF OF THE BOARD
Gregory A. Hahn, Chairman and CEO
This note contains forward-looking statements regarding future events and Canamex's future results. These statements are based on current expectations, estimates, forecasts, and projections about the industry in which Canamex operates and the beliefs and assumptions of Canamex's management. Words such as "expects", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Canamex's future financial performance, Canamex's anticipated growth and potentials in its business and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those identified elsewhere herein and Canamex's filings on www.sedar.com. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Canamex undertakes no obligation to revise or update any forward- looking statements for any reason.
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Contacts:
Canamex Resources Corp.
Robert Kramer
(604) 718-2800 (ext 311)
(604) 718-2808 (FAX)
www.canamex.us
Renmark Financial Communications Inc.
Erica Lomonaco
(514) 939-3989 or (416) 644-2020
elomonaco@renmarkfinancial.com
Renmark Financial Communications Inc.
Barbara Komorowski
(514) 939-3989 or (416) 644-2020
bkomorowski@renmarkfinancial.com
www.renmarkfinancial.com
