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Canex Adds Bulk Tonnage Potential With New Discovery at Gold Range 50.3 Metres Grading 0.5 G/T Gold Intersected in Drilling
CALGARY, AB / ACCESSWIRE / November 2, 2020 / CANEX Metals Inc. ("CANEX" or the "Company") i...
About this update from Canex Metals Inc
[{"type":"text","content":"Canex Adds Bulk Tonnage Potential With New Discovery at Gold Range 50.3 Metres Grading 0.5 G/T Gold Intersected in DrillingCALGARY, AB / ACCESSWIRE / November 2, 2020 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") is pleased to announce assay results for holes GR20-6 to 9 from the recent reverse circulation drilling program at the Company's Gold Range Project, Arizona.HighlightsDrilling at the western side of the Eldorado Target has discovered a new zone of disseminated gold mineralization. Results include 0.9 g/t gold over 27.4 metres within a larger interval grading 0.5 g/t Au over 50.3 metres starting from surface in strongly oxidized material.The discovery remains open in all directions.Holes GR20-6 to 9 intersected elevated gold over most of their lengths providing evidence for a large gold bearing event.Holes GR20-8 and GR20-9 were drilled on the west side of the Eldorado Zone to test a gold-in-soil anomaly and the down dip extension of the Eldorado Vein. Both holes were drilled from the same pad and oriented to the northwest, with hole 8 drilled at a -45 degree angle and hole 9 drilled at a -65 degree angle. Both holes intersected significant zones of gold mineralization starting immediately below 1.5 metres of surface overburden.Hole GR20-8 intersected 0.5 g/t gold over 24.4 metres starting at 1.5 metres depth, plus a second mineralized zone grading 0.2 g/t gold over 25.9 metres from 61 to 86.9 metres depth. Hole GR20-9 intersected 0.5 g/t gold over 50.3 metres starting at 1.5 metres depth, including 0.9 g/t gold over 27.4 metres from 6.1 to 33.5 metres depth. Hole GR20-9 contained highly elevated gold over its entire length averaging 0.2 g/t Au over 164.6 metres. Hole GR20-9 appears to have hit the Eldorado Vein at 18.29 metres depth, returning 5.9 g/t over 1.5 metres. All the mineralized zones occur in rocks that are strongly oxidized. A drill hole location map and cross section with holes GR20-8 and 9 are available here.Dr. Shane Ebert, President of the Company stated, \"Holes GR20-8 and GR-20-9 represent a new discovery of disseminated gold mineralization on the Gold Range Property. The holes hit mineralization below 1.5 metres of cover and the zone remains open in all directions.Preliminary geologic interpretation indicates this could be part of an intrusion-related gold system, which would be significant, as th...