Business
Canex Anounces Soil Sample Results for the Gold Range Property Arizona
CALGARY, ALBERTA / ACCESSWIRE / January 27, 2020 / CANEX Metals Inc. ("CANEX" or the "Compan...
About this update from Canex Metals Inc
[{"type":"text","content":"Canex Anounces Soil Sample Results for the Gold Range Property ArizonaCALGARY, ALBERTA / ACCESSWIRE / January 27, 2020 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") is pleased to announce results for grid soil sampling conducted in December 2019 at the Gold Range Property, Arizona.Three test soil grids were sampled over portions of the Central and East Zones containing gentle to rolling topography and limited rock outcrop. On average soil samples were taken every 10 metres on sample lines spaced 25, 50, or 100 metres apart. A total of 425 soil samples were taken with gold results ranging from <2 parts per billion (ppb) to 5710 ppb, averaging 38 ppb.Highlights of the Test Soil SamplingSoil results have successfully identified large gold targets open for expansion.A gold in soil anomaly 330 metres long (and open) by 90 metres wide correlates with magnetic lows and measured vein orientations.Soil values up to 5710 and 1290 ppb gold are scheduled for near term follow up.The test grids have successfully identified large and open gold in soil anomalies and further support the potential for large and continuous gold bearing vein targets through the area. The Gold Range Property contains high-grade gold vein mineralization over a 5 km by 3 km area that has not been assembled and systematically explored previously. The Company's objective at Gold Range is to utilize modern exploration techniques including structural analysis to target zones with the best potential for large high-grade zones of gold mineralization. Surface soil sampling will clearly help with that objective.A map showing the location of the grids and simplified gold in soil results is available here.Dr. Shane Ebert, President of the Company stated, \"We are very pleased to see our surface rock sampling and mapping, airborne magnetics, and now soil geochemistry all coming together to demonstrate multiple exploration targets on the Gold Range Property each with good size potential. The 330 metre long by 90 metre wide gold in soil anomaly at test Grid 1 in the Central area remains open for expansion along strike and adds another quality target that we anticipate can be advanced to the drill testing stage in a cost effective and timely manner. Several of the gold in soil anomalies show a correlation with airborne magnetic lows demonstrating the value of both explorati...