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Canex Announces Drilling Results and Westgold Target Expansion Gold Range Project, Arizona
CALGARY, AB / ACCESSWIRE / December 12, 2022 / CANEX Metals Inc. ("CANEX" or the "Company") (TSX...
About this update from Canex Metals Inc
[{"type":"text","content":"Canex Announces Drilling Results and Westgold Target Expansion Gold Range Project, ArizonaCALGARY, AB / ACCESSWIRE / December 12, 2022 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") (TSX.V:CANX) is pleased to announce the results from 7 reverse circulation drill holes and observations from recent surface work at the Gold Range Project, Arizona.HighlightsStep out drilling on the east side of the Excelsior Zone has intersected a mineralized zone that is interpreted to run parallel to the main Excelsior mineralized trend, potentially opening up new mineralized oxide gold zones within a larger mineralized corridor. This is highlighted by hole GR22-97 which intersected 1.4 g/t gold over 6.09 metres.Drilling at the Eldorado Zone has expanded mineralization up to 75 metres to the northwest and continues to define a flat dipping near-surface oxide gold zone.Fieldwork recently completed at the GoldWest Target has defined a new 500 metre long shallow dipping zone of quartz veining in granite directly associated with a gold in soil anomaly. The zone remains open along strike and evidence for additional parallel mineralized zones is indicated, providing a new and compelling drill target.Results for 11 reverse circulation drill holes are pending.Assay results from drill holes GR22-97 to 103, from the Excelsior, Malco, and Eldorado zones, have been received and are presented here. A drill hole location map is shown on Figure 1, and cross sections through the Excelsior and Eldorado zones are shown on Figures 2 and 3. Significant gold intersections are shown in the table below. Observations from recent field activities at Gold Range are discussed below.Figure 1. Gold Range Property drill hole location map showing the Excelsior to Eldorado trend, the Central and Lillian Zones, and the new WestGold target.Reverse Circulation Drill ResultsAssay results for 7 reverse circulation holes are presented here, with significant gold intersections shown in the Table below. Two holes were drilled on the east side of the Excelsior zone testing for parallel zones of gold mineralization. Hole GR22-97 successfully encountered a new gold zone to the east of Excelsior, returning 1.4 g/t gold over 6.09 metres including 4.6 g/t gold over 1.52 metres. This intercept is interpreted to line up with a zone of mapped surface mineralization defining a new parallel go...