Canamex Announces 95% Gold Extraction from Paymaster Resource Material at Bruner Gold Project, Nevada
VANCOUVER, BC / ACCESSWIRE / November 10, 2015 / Canamex Resources Corp. (TSXV: CSQ) (OTCQX: CNMXF) (FSE: CX6.F) (the "Company") is pleased to announce it has completed initial cyanidation tests on 2014 drill cuttings from the Paymaster resource area at the Bruner gold project, Nye County, Nevada.
Cyanidation Bottle Roll Tests
Canamex has completed 20 cyanidation bottle roll tests on drill cuttings from the 2014 RC drilling program, composited into mostly 20-ft (6.1 metre) length intervals. These composites represent head grades ranging from 0.005 ounces per ton (0.17 grams per tonne) gold to 1.040 ounces per ton (35.66 grams per tonne) gold, and represent the full range of grade values likely to be included in the upcoming Preliminary Economic Assessment on the Bruner property, based upon drilling results to date. The average head grade of all 20 composite samples was 0.1011 ounces per ton (3.47 grams per tonne) gold and 0.297 ounces per ton (10.18 grams per tonne) silver. All sample preparation, analytical work, and leach tests were performed at Kappes Cassidy & Associates metallurgical laboratory facility in Reno, Nevada.
Average extractions from a 96-hour bottle roll cyanide leach test on -200 mesh material were 95.1% for gold and 41.2% for silver, being very similar to cyanidation bottle rolls tests from the other resource areas (HRA and Penelas) on the property performed previously. Gold recoveries ranges from 85% on very low grade material to +99% on the highest grade material, with an average tail grade of 0.0011 ounces per ton (0.038 grams per tonne) gold, indicating nearly all of the gold in the Paymaster resource area is extractable with cyanide. The mineralized zone is entirely oxidized. Reagent consumption in the bottle roll tests was very low, averaging only 0.08 pounds per ton cyanide and 2.75 pounds per ton lime.
Greg Hahn, President & COO of the Company says, "The Company is very pleased with these initial metallurgical test results at the Paymaster resource area. They indicate nearly 100% extractability of the gold from the mineralized material, and very low reagent consumption, which is similar to results from the HRA and Penelas resource areas, and which should result in low reagent costs in the upcoming Preliminary Economic Assessment. These metallurgical test results are the first step towards moving the Paymaster resources from inferred to indicated status."
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.
ON BEHALF OF THE BOARD
SIGNED: "Mark Billings"
Mark Billings, Chairman and CEO
Contact: (514) 296-1641, mbillings@canamex.us
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.
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 in relation to the timing, cost and other aspects of the planned 2015 drilling program on the Bruner property; the potential for establishing a NI 43-101 mineral resource estimate; 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 2015 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 2015 exploration programs will proceed as planned and within budget. The Company 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.
SOURCE: Canamex Resources Corp.
