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CANEX Extends Bulk Tonnage Potential at Gold Range Drills 21.3 Metres Grading 0.6 G/T Gold 150 Meters West of Initial Discovery
CALGARY, AB / ACCESSWIRE / November 16, 2020 / CANEX Metals Inc. (TSX-V:CANX) ("CANEX" or th...
About this update from Canex Metals Inc
[{"type":"text","content":"CANEX Extends Bulk Tonnage Potential at Gold Range Drills 21.3 Metres Grading 0.6 G/T Gold 150 Meters West of Initial DiscoveryCALGARY, AB / ACCESSWIRE / November 16, 2020 / CANEX Metals Inc. (TSX-V:CANX) (\"CANEX\" or the \"Company\") is pleased to announce assay results for holes GR20-10 to 14 from the recent reverse circulation drilling program at the Company's Gold Range Project, Arizona.HighlightsHole GR20-13 intersected 0.6 g/t gold over 21.3 metres including 1.2 g/t gold over 7.6 metres starting 10.7 metres downhole.Hole GR20-9 (previously released) located 150 metres west of hole GR20-13, intersected 0.9 g/t gold over 27.4 metres, while hole 8 from the same pad intersected 0.5 g/t gold over 24.4 metres plus a deeper zone of 0.2 g/t gold over 25.9 metres, and combined these 3 holes demonstrate potential for a significant near surface bulk tonnage target in the area.Holes GR20-12 and 13 intersected mineralized and highly anomalous gold over a 50 to 75 metre wide interval in a zone that is interpreted to underly the shallow dipping mineralization intersected in holes GR20-8 and 9. The combined thickness of the prospective zone showing heap leach potential could be 80 metres or more.The gold bearing drill holes sit within a 200 metre wide by 600 metre long gold in soil anomaly with an overlapping magnetic low that remains wide open for testing.Dr. Shane Ebert, President of the Company stated, \"Hole GR20-13 is a significant near surface intercept that remains open to the north and west, and correlates well with the initial discovery made in hole GR20-9 located 150 metres to the east. The mineralized intercept in hole 13 is interpreted to sit below the zone intersected in holes 8 and 9, and if this interpretation is correct, the area has excellent potential to host a significant near surface oxidized gold deposit.\"\"Further work is required to understand the extent, continuity, controls, and significance of this bulk tonnage type target. We are very pleased that our phase 1 drill program has identified two promising exploration targets for follow up, the previously released drill results at the Pit Extension Target returning 5.9 g/t gold over 4.6 metres, and now and bulk tonnage potential coming together in the southern part of the claim block at the Eldorado and Contact target areas.\"Contact Target The Contact Target and t...