Canamex Intersects 91 Meters of 3.1 G/Tonne Gold (300 Feet of 0.090 Oz/Ton) Including 1.5 Meters of 117 GPT Au (5 Feet of 3.402 OPT) at Bruner Gold Project, Nevada
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/23/13 -- Canamex Resources Corp. (TSX VENTURE: CSQ)(OTCQX: CNMXF)(FRANKFURT: CX6) is very pleased to announce the assay results of the first and second drill holes of the 2013 drilling program at the Penelas East target area on the Bruner Gold Project, Nye, County, Nevada.
Drill hole B-1301 intersected 91.4 meters of 3.1 gpt (300 feet grading 0.090 opt) Au between 290-590 feet, including 5 feet grading 117 gpt (3.402 opt) Au and 396 gpt (11.55 opt) silver between 415-420 feet, in what is believed to be the second best intercept ever drilled on the Bruner property. The intercept in drill hole B-1301 is located approximately 55 meters (180 feet) south of the discovery hole B-1201 reported last year which contained 110 meters of 4.08 gpt (360 feet grading 0.119 opt) Au between 290-650 feet. In addition, drill hole B-1301 intersected two thinner and lower grade zones further down the hole at 660-695 feet grading 1.507 gpt (0.044 opt) Au and 750-780 feet grading 0.474 gpt (0.014 opt) Au.
Drill holes B-1301 and B-1201 are very similar in character with a high-grade core almost centered on an extensive and robust lower grade halo surrounding the high-grade core. Importantly, drill hole B-1301 is on the southern end of the drilling pattern completed to date at the Penelas East target area, and the wide zone of mineralization with a central high-grade core remains open to the south. Mineralization at this depth could be accessible by open pit.
Drill hole B-1302 (N95E azimuth and -75 degree inclination) was designed to intersect the mineralized zone 60 meters (200 feet) below that in B-1301 (N95E azimuth and -60 degree inclination) and intersected 16.8 meters (55 feet) grading 1.563 gpt (0.046 opt) Au from 640-695 feet. At this point we do not know if this intercept is the down-dip equivalent of the thicker high-grade zone encountered in B-1301 or whether the target dips to the east and thus out of reach of drill hole B-1302.
The mineralized zone appears to be steeply dipping but of unknown true width. The drill intercepts are summarized in the following table, and the complete table of results appears at the end of this release.
Highlights of Drill Hole B-1301
From To Thickness Au grade Au grade
Hole (ft) (ft) (ft) g/tonne oz/ton
---------------------------------------------------------------------------
B-1301 290 590 300 3.10 0.090
including: 415 420 5 117.00 3.402
All intercepts greater than 3 gpt (0.09 opt) Au are being re-assayed from a 1 kilogram split from the coarse rejects and pulverized entirely to -200 mesh to assess the presence of particulate gold in the higher grade intercepts.
12 Hole 2013 Spring Drilling Program at Penelas East
A total of twelve holes are planned for the Penelas East target area in the first half of 2013 to obtain a better understanding of the geometry and orientation of the mineralized zone, which is not exposed at the surface, being beneath 30 feet of alluvial cover and several hundred feet of mostly unmineralized flow-banded rhyolite, the latter of which appears to have formed an effective cap on the hydrothermal system. Results from these holes will be announced as they are received and analyzed and are expected to be released on a section-by-section basis going forward.
Quality Control
Drill samples were stored in a locked storage unit and retrieved by ALS-Chemex personnel, transported in their custody to the ALS-Chemex laboratory in Reno/Sparks, Nevada, where they were dried, crushed, and split, and representative splits sent to the ALS-Chemex laboratory in Vancouver for gold and silver analyses. Duplicates, blanks, and standards were inserted at regular intervals for QA/QC purposes.
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
Robert Kramer, Chairman and CEO
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 with respect to the estimated costs and timing of drilling programs on the Bruner property, 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 2013 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 2013 exploration programs will proceed as planned and within budget. Canamex 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.
B-1301 Au (gpt) Au (opt)
---------------------------------------------------------------------------
B-1301 20-25 0.100 0.0029
B-1301 25-30 0.187 0.0055
B-1301 30-35 0.913 0.0266
B-1301 35-40 0.060 0.0017
B-1301 40-45 0.169 0.0049
B-1301 45-50 0.007 0.0002
B-1301 50-55 0.030 0.0009
B-1301 55-110 less than 0.005 less than 0.005
B-1301 110-115 0.008 0.0002
B-1301 115-120 0.007 0.0002
B-1301 120-125 0.005 0.0001
B-1301 125-130 0.006 0.0002
B-1301 130-135 0.006 0.0002
B-1301 135-140 0.005 0.0001
B-1301 140-145 less than 0.005 less than 0.005
B-1301 145-150 0.009 0.0003
B-1301 150-155 0.005 0.0001
B-1301 155-210 less than 0.005 less than 0.005
B-1301 210-215 0.017 0.0005
B-1301 215-220 less than 0.005 less than 0.005
B-1301 220-225 0.007 0.0002
B-1301 225-270 less than 0.005 less than 0.005
B-1301 270-275 0.033 0.0010
B-1301 275-280 0.067 0.0020
B-1301 280-285 0.042 0.0012
B-1301 285-290 0.145 0.0042
B-1301 290-295 7.820 0.2281
B-1301 295-300 4.100 0.1196
B-1301 300-305 0.642 0.0187
B-1301 305-310 0.430 0.0125
B-1301 310-315 0.033 0.0010
B-1301 315-320 0.052 0.0015
B-1301 320-325 0.832 0.0243
B-1301 325-330 0.945 0.0276
B-1301 330-335 4.120 0.1202
B-1301 335-340 0.630 0.0184
B-1301 340-345 0.562 0.0164
B-1301 345-350 0.361 0.0105
B-1301 350-355 0.102 0.0030
B-1301 355-360 0.146 0.0043
B-1301 360-365 0.086 0.0025
B-1301 365-370 0.018 0.0005
B-1301 370-375 0.057 0.0017
B-1301 375-380 0.066 0.0019
B-1301 380-385 0.067 0.0020
B-1301 385-390 0.052 0.0015
B-1301 390-395 0.146 0.0043
B-1301 395-400 0.326 0.0095
B-1301 400-405 0.126 0.0037
B-1301 405-410 1.325 0.0386
B-1301 410-415 1.040 0.0303
B-1301 415-420 117.000 3.4124
B-1301 420-425 15.700 0.4579
B-1301 425-430 4.970 0.1450
B-1301 430-435 3.280 0.0957
B-1301 435-440 2.950 0.0860
B-1301 440-445 2.220 0.0647
B-1301 445-450 0.589 0.0172
B-1301 450-455 0.219 0.0064
B-1301 455-460 0.140 0.0041
B-1301 460-465 0.980 0.0286
B-1301 465-470 1.390 0.0405
B-1301 470-475 0.149 0.0043
B-1301 475-480 0.155 0.0045
B-1301 480-485 0.377 0.0110
B-1301 485-490 0.475 0.0139
B-1301 490-495 0.253 0.0074
B-1301 495-500 0.804 0.0234
B-1301 500-505 0.161 0.0047
B-1301 505-510 1.215 0.0354
B-1301 510-515 0.506 0.0148
B-1301 515-520 0.172 0.0050
B-1301 520-525 0.282 0.0082
B-1301 525-530 0.513 0.0150
B-1301 530-535 0.279 0.0081
B-1301 535-540 1.180 0.0344
B-1301 540-545 0.168 0.0049
B-1301 545-550 0.278 0.0081
B-1301 550-555 0.136 0.0040
B-1301 555-560 0.663 0.0193
B-1301 560-565 1.995 0.0582
B-1301 565-570 0.554 0.0162
B-1301 570-575 0.864 0.0252
B-1301 575-580 0.457 0.0133
B-1301 580-585 0.615 0.0179
B-1301 585-590 0.336 0.0098
B-1301 590-595 0.140 0.0041
B-1301 595-600 0.114 0.0033
B-1301 600-605 0.199 0.0058
B-1301 605-610 0.104 0.0030
B-1301 610-615 0.131 0.0038
B-1301 615-620 0.205 0.0060
B-1301 620-625 0.097 0.0028
B-1301 625-630 0.092 0.0027
B-1301 630-635 0.035 0.0010
B-1301 635-640 0.085 0.0025
B-1301 640-645 0.281 0.0082
B-1301 645-650 0.228 0.0066
B-1301 650-655 0.181 0.0053
B-1301 655-660 0.156 0.0045
B-1301 660-665 0.454 0.0132
B-1301 665-670 0.100 0.0029
B-1301 670-675 0.118 0.0034
B-1301 675-680 6.390 0.1864
B-1301 680-685 1.745 0.0509
B-1301 685-690 0.290 0.0085
B-1301 690-695 1.455 0.0424
B-1301 695-700 0.250 0.0073
B-1301 700-705 0.108 0.0031
B-1301 705-710 0.103 0.0030
B-1301 710-715 0.128 0.0037
B-1301 715-720 0.066 0.0019
B-1301 720-725 0.156 0.0045
B-1301 725-730 0.052 0.0015
B-1301 730-735 0.099 0.0029
B-1301 735-740 0.024 0.0007
B-1301 740-745 0.061 0.0018
B-1301 745-750 0.158 0.0046
B-1301 750-755 0.701 0.0204
B-1301 755-760 0.258 0.0075
B-1301 760-765 0.410 0.0120
B-1301 765-770 0.376 0.0110
B-1301 770-775 0.509 0.0148
B-1301 775-780 0.591 0.0172
B-1301 780-785 0.206 0.0060
B-1301 785-790 0.194 0.0057
B-1301 790-795 0.077 0.0022
B-1301 795-800 0.590 0.0172
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.
Contacts:
Canamex Resources Corp.
Robert Kramer
Chairman and CEO
(604) 336-8621
www.canamex.us
Andrew Mugridge: andrew@networkir.com
Benjamin Curry: ben@networkir.com
(604) 559-5573
