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Clarification of Technical Disclosures as a Result of a Review by the British Columbia Securities Commission
VANCOUVER, BC / ACCESSWIRE / June 16, 2016 / Canamex Resources Corp. (TSXV: CSQ ) (OTCQX: ...
About this update from Canamex Gold Corp
[{"type":"text","content":"Clarification of Technical Disclosures as a Result of a Review by the British Columbia Securities CommissionVANCOUVER, BC / ACCESSWIRE / June 16, 2016 / Canamex Resources Corp. (TSXV: CSQ) (OTCQX: CNMXF) (FSE: CX6) (\"Canamex\") is issuing this news release to clarify our disclosure on the Bruner gold project in Nye County, Nevada as a result of a review by the British Columbia Securities Commission.\nNon-Compliant Disclosure of Mineral Resources and Preliminary Economic Assessment (PEA)\nThe Company has occasionally reported mineral resources for the Bruner property that are not compliant with sections 2.2(c) and 3.4 of NI-43-101.\nMD&A for Three Months Ended March 31, 2016\nThe Company disclosed tonnage and contained metal quantities that sum indicated and inferred resource, where these two classes of resources should not be summed and should be reported separately.\nCorporate Presentation\nThe Company's website and corporate presentation disclosed contained metal quantities that sum indicated and inferred resource, where these two classes of resources should not be summed and should be reported only separately.\nCautionary Language Regarding the PEA\nThe MD&A dated March 31, 2016 failed to include the following cautionary language and disclosures required under NI-43-101, and applicable to all disclosure of the Company's PEA* results:\n\"Mineral resources are not mineral reserves and do not have demonstrated economic viability.\"\n\"The Preliminary Economic Assessment is preliminary in nature, and includes inferred resources that are considered too speculative geologically to have the economic consideration applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.\"\n* See the Company's PEA Technical Report dated April 5, 2016 (on SEDAR) for detailed results of the PEA. The summary economic parameters contained in the MD&A dated March 31, 2016 failed to disclose prominently that mineral resources that are not mineral reserves do not have demonstrated economic viability and the PEA is preliminary in nature.\nIn order to rectify these oversights regarding the disclosure of mineral resources, the Company is re-iterating the breakdown of indicated and inferred resources as referenced in both the PEA and the press r...